What is Olav Thon's Net Worth?
Olav Thon is a Norwegian real estate developer who has a net worth of $5 billion. Born in Al, Hallingdal, Norway, Olav Thon bought his first piece of real estate in 1951. Since then, the Oslo resident has managed to grow one building, into a massive real estate empire that includes domestic properties and 25 properties overseas.
He branched out into restaurants in the mid-1960s, and, through his holding company, Olav Thon Gruppen, he now owns 425 properties in Norway, 61 shopping malls, 7000 hotel rooms – spread out over multiple hotels, a chain of retail stores, and a range of restaurants, clubs, and drinking establishments in Oslo. His holding company has increased in value exponentially over the last few years, bucking the real estate crisis that is being felt in many other parts of the world. Now in his late 80s, he recently announced that his wealth would go in to a trust after his death, "to be spent on future generations".
