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Grizzly Bulls’ Billionaires Index

⬅ # 723 Lynn Schusterman|# 725 Yang Shaopeng ➡

# 724 Odd Reitan 

$4.67B

Real Time Net Worth
as of 11/21/2024
-$113 (-0.00%)

# 724 Odd Reitan 

$4.67B

Real Time Net Worth
as of 11/21/2024
-$113 (-0.00%)
OccupationCEO, Reitangruppen
Source of WealthRetail, Real Estate
Age73
ResidenceTrondheim, Norway
Marital StatusMarried
Children2
Age-Adjusted Net Worth$1.94B
Odd Reitan
Odd Reitan
Norway
Net worth: $4.67B

Self-Made Score 

Omega Speedmaster Moonwatch Professional Chronograph 42mm Men's Watch

Wealth History

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Biography

Overview

Odd Reitan, born on September 11, 1951, in Trondheim, Norway, is a billionaire businessman known for founding and leading Reitangruppen, one of Norway's largest grocery store chains.
Starting from humble beginnings as the son of single-store grocers, Reitan opened his own shop in 1972 named AS Sjokkpris, or 'Chocking price,' before establishing the highly successful REMA 1000 grocery chain in 1979.
Under his leadership, Reitangruppen has expanded to encompass grocery and convenience stores across Scandinavia and the Baltic, employing over 38,000 individuals.
Reitan's sons, Ole Robert and Magnus, hold key roles within the family business, contributing to its continued growth and success.

Early Life

Born in 1951 in Trondheim, Norway, to Ole Reitan and Margit Aarhaug, who were single-store grocers.
Reitan's upbringing instilled in him a deep understanding of the grocery business from an early age.

Career

In 1972, Reitan opened his first shop in Trondheim, in collaboration with his father, marking the beginning of his entrepreneurial journey.
Founded the REMA 1000 grocery chain in 1979, which rapidly expanded across Norway and later into Denmark, Sweden, Poland, Hungary, and Slovakia.
Throughout the 1990s, Reitangruppen's expansion solidified its position as a leading player in the Scandinavian and Baltic grocery markets.

Philanthropy

In 2013, Reitan demonstrated his philanthropic spirit by awarding Norwegian kroner 2 million to Anlov Mathiesen, recognizing Mathiesen's work in increasing the self-respect of street magazine vendors.
His philanthropic efforts reflect a commitment to social causes and community development.

Personal Life

In 1972, Reitan married Marit Arntsen, with whom he shares two sons, Ole Robert and Magnus, both actively involved in Reitangruppen's operations.
Reitan remarried in June 2018 to Hilde Undlien, following a relationship that began in 2012.
He resides in Trondheim, maintaining close ties to his hometown.

Odd Reitan's Wealth is Equivalent to:

3,598,152 Herman Miller Aeron Chairs

Herman Miller Aeron Chair

884,390 Gold Bars (50 gram)

24K Solid 50g Gold Ingot

47,769 Tiny Homes

Tiny House, Two Bedroom Solar Prefab Home

How long would it take you to become as rich as Odd Reitan?

If you started with $10,000 and invested an additional $500 each month at a 43.43% CAGR, it would take you 5 years to reach Odd Reitan's net worth of $4.67B.

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 58.67% compared to 23.91% for the S&P 500 benchmark.

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

Odd Reitan 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 Odd Reitan, Retail and Real Estate 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.

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Edited by: Lee Bailey