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Gustav Magnar Witzoe

Gustav Magnar Witzøe is a Norwegian billionaire and significant shareholder of salmon fish farming company Salmar ASA.

According Forbes he is one of the youngest billionaires in the world.

  • Born: 1993 (age 27 years), Frøya Municipality, Norway
  • Full name: Gustav Magnar Witzøe
  • Net worth: 3.1 billion USD (2020)
  • Parents: Gustav Witzøe, Oddny Witzøe
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About Gustav Magnar Witzoe

Witzøe was born on 8 February 1993 in Frøya, Trøndelag, Norway. He’s son of Gustav and Oddny Witzøe.

When he was 19 Witzøe served two weeks in prison after being arrested for driving 116 km/h in a 60 km/h zone.

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His father founded SalMar in 1991, which is one of the world’s largest producers of farmed salmon. SalMar also owns a significant stake in Scottish Sea Farms, the UK’s second-largest salmon farmer.

Salmar has led the industrialization of fish farming in Norway, refining the product into more sophisticated cuts with higher margins.

In 2013, Witzøe’s father transferred 47% of the company to him to allegedly avoid a large inheritance tax bill.

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Witzoe’s father still runs the company, Salmar, meanwhile, he is trying to make his own mark investing in real estate and tech startups.

Witzøe has invested in technology start-up and property. He previously worked for MGM Property, and invested in both Gopi and Keybutler.

Witzøe is involved with the family business and worked as a milker at SalMar’s fish farms in Frøya. As of 2020, his net worth was $2.9 billion.