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Grizzly Bulls’ Billionaires Index

⬅ # 588 Zong Fuli|# 590 Igor Kesaev ➡

# 589 Torbjorn Tornqvist 

$5.62B

Real Time Net Worth
as of 10/28/2024

# 589 Torbjorn Tornqvist 

$5.62B

Real Time Net Worth
as of 10/28/2024
OccupationCofounder and CEO, Gunvor Group
Source of WealthOil Trading
Age70
ResidenceGeneva, Switzerland
EducationGraduate, Stockholm University
Age-Adjusted Net Worth$2.86B
Torbjorn Tornqvist
Torbjorn Tornqvist
Sweden
Net worth: $5.62B

Self-Made Score 

Rado Captain Cook Automatic Diving Watch with Stainless Steel Strap

Wealth History

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Biography

Overview

Torbjorn Tornqvist is a Swedish billionaire and the CEO and co-founder of Gunvor Group, one of the largest commodities conglomerates globally.
He began his career at British Petroleum in 1977 and co-founded Gunvor with Russian billionaire Gennady Timchenko in 2000.
Tornqvist now owns 80% of Gunvor, after buying out Timchenko's stake in 2014, just before US sanctions were imposed on Timchenko.
He is known for his expertise in oil trading and for expanding Gunvor's operations globally, including refineries, terminals, and mining operations in 35 countries.

Early Life and Education

Torbjorn Tornqvist was born in 1953 in Stockholm, Sweden.
He holds a degree from Stockholm University.

Career

In 1997, Tornqvist co-founded Gunvor.
He has been the CEO of Gunvor since its inception.
In 2016, he reduced his stake in Gunvor from 78% to 70%, receiving a special dividend of about $1 billion, part of which went to repay his co-founder Gennady Timchenko.

Controversies

In 2017, a Swedish Radio documentary alleged Gunvor's involvement in a Belarusian oil smuggling scheme during Tornqvist's leadership, which the company denied.
The documentary won the 2017 Prix Europa award in the 'Radio Current Affairs' category.

Personal Life

Tornqvist resides in Geneva, Switzerland.
He has been married twice, with Eva Birgitta Tornqvist as his first wife and Natalia Tornqvist as his second.

Sailing

Tornqvist is an avid sailor and heads Artemis Racing, a participant in the America’s Cup.

Gunvor Group

Company Details
Gunvor Group Ltd is a multinational energy commodities trading company registered in Cyprus, with its main trading office in Geneva, Switzerland.
The company operates globally, with trading offices in Singapore, Houston, Stamford, London, and Dubai.
Gunvor has investments in oil terminal and port facilities and operates in the trade, transport, storage, and optimization of petroleum and other energy products.
In 2021, Gunvor launched Nyera, a subsidiary focused on investing in renewable energy sources, run by energy transition director Fredrik Tornqvist.

Company Growth and Operations
Gunvor was founded in 2000 by Torbjorn Tornqvist and Gennady Timchenko, initially focused on exporting Russian oil.
The company has grown significantly, becoming the fourth largest crude oil trader globally by 2021.
Gunvor's operations span the Americas, Africa, Asia, and South America, with a focus on natural gas and LNG, which accounted for 44% of its traded volumes in 2021.

Logistics and Infrastructures
Gunvor has invested in oil storage facilities, refineries, port facilities, and terminals, providing a competitive advantage.
The company owns Clearlake Shipping Ltd, which shipped 30% of Baltic crude oil in 2006.
It controls a significant portion of Russian oil exports, with major investments in oil terminals and exploration.
Gunvor owns three major European refineries located in the Netherlands, Belgium, and Germany, with substantial processing capacities.

Torbjorn Tornqvist's Wealth is Equivalent to:

4,325,635 Herman Miller Aeron Chairs

Herman Miller Aeron Chair

1,063,198 Gold Bars (50 gram)

24K Solid 50g Gold Ingot

57,428 Tiny Homes

Tiny House, Two Bedroom Solar Prefab Home

How long would it take you to become as rich as Torbjorn Tornqvist?

If you started with $10,000 and invested an additional $500 each month at a 43.72% CAGR, it would take you 5 years to reach Torbjorn Tornqvist's net worth of $5.62B.

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 60.38% compared to 22.68% for the S&P 500 benchmark.

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

Torbjorn Tornqvist 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 Torbjorn Tornqvist, Oil Trading 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.

Affiliate Disclosure: Some of the links on this page are affiliate links. This means that, at no additional cost to you, we may earn a commission if you click through and make a purchase. We only recommend products or services we believe will add value to our readers.

Edited by: Lee Bailey