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# 403 Johan Johannson $5.01B

Random fact: Company is in its fourth generation of family ownership.

Overview

Johannson is majority owner of NorgesGruppen, Norway's largest grocer. The Oslo-based business is closely held and has more than 1,800 stores in its home country. The chains it operates include discount retailer Kiwi, Spar supermarkets and Joker convenience stores. It had revenue of 87.8 billion kroner ($10.8 billion) in 2018.

As of :
Last change +$49.8M ( +1.0%)
YTD change +$1.68B ( +50.4%)
Industry Retail
Biggest asset NorgesGruppen
Citizenship Norway
Age 52
Wealth Inherited
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Johan Johannson's net worth of $5.01B can buy ...

0
troy ounces of gold
0
barrels of crude oil

... and is equivalent to ...

0%
of the GDP of the United States
0%
of the total wealth of the 500 richest people in the world
0%
of the top 100 U.S. college endowments
0%
of the top 200 U.S. executives’ total awarded compensation
0%
of U.S. existing home sales
0
times the median U.S. household income

Latest News

Net Worth Summary

Cash
Private asset
Public asset
Misc. liabilities
Confidence rating:

The majority of Johannson's fortune is derived from NorgesGruppen. The Oslo-based company is Norway's largest retailer. The family holding company, Joh Johannson, controls a 74 percent stake, with the balance held by suppliers and distributors, according to the company's website. It has more than 1,800 grocery stores in Norway, according to the website.

The billionaire and his three children have a 99.9 percent economic interest in the holding company, according to its annual accounts, and he controls the asset with his uncle Torbjoern and father Knut Hartvig, whose shares in the family vehicle give them each one-third of the voting rights, and the remaining economic interest. Johannson confirmed the ownership structure in a 2004 interview with Oslo-based Verdens Gang.

He's credited with the 99.9 percent economic interest in the holding company to reflect his direct family's economic interest based on discussions with an Oslo-based tax lawyer who asked not to be identified because it's a family matter.

NorgesGruppen is valued using its 2018 financial results and the average enterprise value-to-sales, enterprise value-to-Ebitda and price-to-earnings multiples of three publicly traded peers: Axfood, ICA and Ahold.

The value of Johannson's cash investments is valued based on an analysis of stake purchases, dividends, taxes and charitable contributions as disclosed by NorgesGruppen. The group's non-grocery story real estate investments are valued separately, using the market value reported in the company's 2017 annual report.

Kine Soyland, a spokesperson for NorgesGruppen, declined to comment on the net wealth calculation.

Biography

Birthdate: 1/1/1967
Family: Married, 4 children

Johan Johannson was born in 1967. He is the great-great-grandson of Johan Johannson, who founded wholesaler Joh. Johannson in 1866 and his family's grocery business three years later.

The billionaire studied management at university and worked as a consultant for Arthur Andersen before joining the family company. He's the fifth generation of Johannsons to run the retailer.

Johannson and his uncle, Torbjoern, are both directors of the company and his father, Knut Hartvig, is chairman. The trio manage the company together, the billionaire said in an e-mail interview with Norwegian daily Aftenposten in 2011. Johannson and his children have a more than 99 percent economic interest in family holding company Joh. Johannson, which controls a 74 percent stake of the group.

He is married with four children.

Milestones
  • 1937 Father Knut Hartvig is born.
  • 1967 Johannson is born, representing the fifth-generation of family ownership.
  • 1979 First Kiwi store opens.
  • 1979 The first Kiwi store, a discount chain, opens.
  • 1984 NorgesGruppen obtains the rights to use Spar in Norway.
  • 2000 Merger of wholesale and retail units establishes NorgesGruppen.
  • 2013 Buys controlling stake in Danish retailer Dagrofa.
  • 2014 Competition watchdog suspends cooperation between ICA and NorgesGruppen.