Friday, March 04, 2016

Inheriting billions

Norwegian teenager, Alexandra Andresen, aged 19, is estimated to be worth a staggering $1.2 billion, making her the youngest billionaire in the world. Her 20-year-old sister Katharina is also worth $1.2bn thanks to the 42.2 per cent of the Ferd Holding company she and her sister both own. Their father transferred the stock to his daughters in 2007 but still maintains control of the company. She lived in relative obscurity until the age of 17, when Norwegian authorities begin publishing annual tax return figures.

Where does her family's money come from? Tobacco. The family were involved in the tobacco industry with their brand Tiedemanns until 2005 before selling their stake to Skandinavisk Tobakskompagni for almost $500 million. Now, the Ferd investment company predominantly manages hedge funds.

1 comment:

Mike Ballard said...

They actually get their money from owning the collective product produced by their wage-slave hirelings. M-C-M' where M' is money.