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Grizzly Bulls’ Billionaires Index

⬅ # 697 Arvind Poddar|# 699 Luo Liguo ➡

# 698 Kjell Inge Røkke 

$4.57B

Real Time Net Worth
as of 7/25/2024
$9.1M (0.20%)

# 698 Kjell Inge Røkke 

$4.57B

Real Time Net Worth
as of 7/25/2024
$9.1M (0.20%)
OccupationMajority Owner, Aker
Source of WealthShipping, Seafood
Age65
ResidenceVettre, Norway
Marital StatusMarried
Children4
Age-Adjusted Net Worth$3.26B
Kjell Inge Røkke
Kjell Inge Røkke
Norway
Net worth: $4.57B

Self-Made Score 

Wealth History

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Biography

Overview

Kjell Inge Røkke, born on October 25, 1958, is a Norwegian billionaire known for his rise from a fisherman to a ruthless corporate raider and industrial magnate.
He launched his business career in 1982 by purchasing a trawler in the United States and gradually built a leading worldwide fisheries business.
Røkke's wealth surged when he acquired enough shares in Aker ASA to become its largest shareholder in 1996, later merging his company with Aker ASA.
His interests are primarily in oil and gas, maritime assets, and marine biotechnology, with Aker ASA serving as his industrial investment vehicle.
Røkke's philanthropic endeavors include joining the Giving Pledge in 2017, founding the REV Ocean initiative, and establishing the Aker Scholarship to support Norwegian students.
He has been recognized for his contributions to business, philanthropy, and sports, despite facing legal troubles like a conviction for license fraud in 2005.

Early Life and Career

Born on October 25, 1958, in Norway, Røkke began his career as a fisherman at the age of 18, later moving to the U.S. to work on trawlers in Alaska.
In 1982, he purchased a 69-foot trawler in the U.S., marking the start of his entrepreneurial journey in the fishing industry.
By the mid-1990s, Røkke had established himself in Seattle, Washington, owning and operating American Seafoods and Resource Group International (RGI), which included Brooks Sports and Helly Hansen.
In 1996, Røkke became Aker ASA's main shareholder through RGI, eventually merging his company with Aker ASA, solidifying his position in fisheries and expanding into real estate and shipyards.
Despite lacking secondary or higher education, Røkke's strategic acumen propelled him to become one of Norway's wealthiest individuals.
He attributes part of his success to his dyslexia, claiming it aided rather than hindered his journey.

Wealth and Business Ventures

Røkke's industrial holdings include Aker BP, Aker Solutions, Akastor, Kværner, Ocean Yield, Aker Energy, Cognite, and Aker BioMarine, with interests in oil and gas, maritime assets, and marine biotechnology.
He is the largest shareholder of Aker ASA, an industrial investment company with diversified interests.
Røkke's commitment to philanthropy led him to join the Giving Pledge in 2017 and establish the REV Ocean initiative, focusing on ocean research and conservation.
He funded the construction of the REV Ocean, a research vessel, and established the Aker Scholarship to support Norwegian students in pursuing advanced degrees at leading universities worldwide.
Røkke's philanthropic efforts extend to the establishment of Stiftelsen VI (The VI Foundation), focusing on disability rights and opportunities.

Philanthropy and Donations

In May 2017, Røkke joined the Giving Pledge, committing to donate the majority of his wealth to philanthropic causes during his lifetime or after his death.
He funded the construction and operation of the REV Ocean, the world's largest research vessel, to advance oceanic research and conservation efforts.
Røkke established the Aker Scholarship to support Norwegian students pursuing graduate studies at leading international universities, aiming to foster future leaders in business, industry, and society.
His philanthropic endeavors include founding Stiftelsen VI (The VI Foundation) to promote disability rights and equal opportunities through sports and physical activities.
Locally, Røkke has supported initiatives like funding sports facilities for his local soccer club and developing recreational infrastructure in his community.
His philanthropic efforts reflect a commitment to social responsibility and making a positive impact on society.

Personal Life and Controversies

Røkke is married with four children and resides in Vettre, Norway, although he announced plans to move to Lugano, Switzerland, in September 2022.
Known for his exclusive car collection, including a Ford GT, Røkke's personal life reflects a blend of luxury and philanthropy.
Despite his success, Røkke has faced legal challenges, including a conviction for license fraud in 2005 related to forging a skipper's license for a yacht.
His involvement in sports, particularly football, includes investments in Norwegian club Molde FK and the controversial relocation of Wimbledon Football Club to Milton Keynes, England, sparking fan protests and controversies.
Røkke's journey is marked by both accolades for his business acumen and philanthropy, as well as controversies and legal entanglements.
His contributions to business, sports, and philanthropy underscore a complex and influential legacy.

How long would it take you to become as rich as Kjell Inge Røkke?

If you started with $10,000 and invested an additional $500 each month at a 44.11% CAGR, it would take you 5 years to reach Kjell Inge Røkke's net worth of $4.57B.

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 52.22% compared to 16.62% for the S&P 500 benchmark.

Enter data in all but one field below, then calculate the missing value

Kjell Inge Røkke 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 Kjell Inge Røkke, Shipping and Seafood are the primary sources. 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