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.
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.
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.