⬅ # 297 Steven Rales|# 299 Rekha Jhunjhunwala

# 298 Ivar Tollefsen 


Real Time Net Worth
as of 6/24/2024
$358 (0.00%)

# 298 Ivar Tollefsen 


Real Time Net Worth
as of 6/24/2024
$358 (0.00%)
OccupationOwner, Fredensborg AS
Source of WealthReal Estate
ResidenceOslo, Norway
Age-Adjusted Net Worth$6.93B
Ivar Tollefsen
Ivar Tollefsen
Net worth: $8.49B

Self-Made Score 

Wealth History

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Early Life

Ivar Tollefsen was born on June 23, 1961 in Asker, Norway
Began delivering newspapers at age 12, managing four routes and waking up at 3:30 am
Acquired a DJ set at a young age and started performing at neighborhood school parties
Founded Tollefsen Enterprises at a young age, skipping high school to focus on the business of renting out DJ-services and event equipment


Started his first company, Tollefsen Enterprises, at age 14, focusing on DJ-services and event equipment rental
In 1985, Tollefsen Enterprises was sold to investment firm Vest Invest for approximately $2.8 million
Engaged in real estate business in 1994, purchasing a 20-apartment building in central Oslo
Founded Fredensborg AS, which has become one of the largest owners of rental housing with over 27,000 apartments across Scandinavia
Fredensborg AS owns 100,000 apartments across Europe and acquired a building in Oslo previously housing the U.S. embassy in 2017
Since 2020, actively invested in foreign property, with Heimstaden Bostad AB, controlled by Fredensborg AS, acquiring 1732 buildings across Germany in 2020


Set the world speed record for the crossing of Greenland on skis in 1991
Led some of the first expeditions to climb mountains in Antarctica in 1993
Competed in the Dakar Rally in 2009, finishing fourth

How long would it take you to become as rich as Ivar Tollefsen?

If you started with $10,000 and invested an additional $500 each month at a 44.13% CAGR, it would take you 5 years to reach Ivar Tollefsen's net worth of $8.49B.

Is this realistic? It depends how closely the VIX-TA-Macro Advanced model performs to its history in the future. Since Grizzly Bulls launched on January 1, 2022, it's returned 48.35% compared to 16.28% for the S&P 500 benchmark.

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Ivar Tollefsen is very wealthy, but what's stopping you from reaching that same level of success? As summarized in our five fundamental rules to wealth building, becoming wealthy in a modern capitalist economy is not complicated. There's actually only three variables:

  1. Your starting capital
  2. Your earnings after expenses
  3. The compound annual growth rate (CAGR) of your savings

Most people start with zero or very little, so if you weren't born into wealth, don't fret! The majority of the fortunate folks listed in our Grizzly Bulls’ Billionaires Index came from middle class or lower backgrounds. The most distinguishing characteristic of the group is their ability to consistently earn a high CAGR on their savings.

Every billionaire has a unique strategy to achieve high CAGR. For Ivar Tollefsen, Real Estate is the primary source. Whether you choose to invest your savings in your own businesses or the businesses of others is not as important. The salient piece of the puzzle is ensuring that your hard-earned savings are generating sufficient CAGR to reach your long term goals.

Most people simply invest their money in index funds and call it a day. There's nothing wrong with this approach, but it guarantees relative mediocrity. To achieve greatness, you need to invest your money to earn higher than average returns. In the long run, better investors will always finish ahead of better earners.

Source: Grizzly Bulls reporting

Methodology: Grizzly Bulls' Billionaires Index is a daily ranking of the world's billionaires and richest people. Grizzly Bulls strives to provide the most accurate net worth calculations available. We pull data from public equity markets, SEC filings, public real estate records, and other reputable sources.

The index is dynamic and updates daily at the close of U.S. stock market trading based on changes in the markets, economy, and updates to Grizzly Bulls' proprietary algorithm of personal wealth calculation. Stakes in public companies are tracked daily based on the relevant closing prices of the underlying securities. Additionally, stakes in private companies, cash, real estate, and other less easily valued assets are updated periodically through careful analysis of insider transactions, comparable public company sales / EBITDA multiples, etc.

Edited by: Lee Bailey