Cyprus-Forum.com

[Sotos]

Our GDP per capita until yesterday was about $22,000 but from today we are all richer!!

NORWEGIAN shipping tycoon John Fredriksen, Norway’s richest man, has gained Cypriot citizenship, according to reports from Oslo yesterday.

Bloomberg financial wire suggested that Fredriksen, who is estimated to be worth $7 billion and is often described as the “modern-day Onnassis”, has made the move to avoid high taxation in Norway.

“Mr Fredriksen has long had issues with the Norwegian authorities, which have not always seen his residency in Cyprus as a reason for escaping personal taxation in the country,” shipping bible Lloyds List said.

“In recent years this has intensified as Norwegians living abroad can now only live in their home country for 90 days without paying tax rather than six months.”

Fredriksen, 62, has been associated with Cyprus for almost 20 years, having at least one of his principal private companies, Hemen Holding, registered on the island. Sea Tankers in Limassol is also one of his companies. He is believed to run a growing empire of tankers, drilling rigs, natural gas ships and oilfields valued at more than $1 billion. He is said to lead a very low-profile existence.

According to reports, Fredriksen made his fortune during the Iran-Iraq wars in the 1980s when his tankers picked up oil at great risk and huge profits. As described by his biographer, "he was the lifeline to the Ayatollah".

Born on Oslo's east side, the son of a welder, Fredriksen began as a trainee in a shipbrokering company, and is now the world’s largest tanker owner, with more than 70 oil tankers and major interests in oil rigs and fish farming.

His fleet is dominated by double-hulled, environmentally safer tankers. He is married with two daughters, and collects classic Norwegian art, and reportedly turned down an offer of $190m from Chelsea Football Club owner Roman Abramovich for his Chelsea home. As well as Cyprus and London he also has homes in Oslo and Marbella in Spain.

In 2005 Forbes ranked Fredriksen 160th in the world with $3.4 billion but by 2006 he had jumped to 116th place with $5 billion. The unofficial number is closer to $7 billion.

[andri_cy]

WOW. Like he is gonna share LOL

[Sotos]

WOW. Like he is gonna share LOL

The good think about GDP per capita is that he doesn't need to share anything to make all Cypriots richer on average

[andri_cy]

meh I dont care about average!!!!

[malaka]

WOW. Like he is gonna share LOL

The good think about GDP per capita is that he doesn't need to share anything to make all Cypriots richer on average

Tell that to the poor

[cypezokyli]

yes , but is he counted in cyprus or in norway ?

but taking a round number and assuming that we are 1 million people : our GDP per head has increased by 7000$ !! without even mooving a finger.

any suggestions on where i could spend my 7000$ ?

[TheCabbie]

any suggestions on where i could spend my 7000$ ?

I know somebody who wants to sell some shares in the Cyprus Stock Exchange....

[Oneness]

Yeh, that should make everyone about Cyprus Pounds 6000 "richer" in capital but not GDP per head. His income would be much lower, maybe a lowly $500 million per annum or Cy Pounds 400 per head...

[Sotos]

Yeh, that should make everyone about Cyprus Pounds 6000 "richer" in capital but not GDP per head. His income would be much lower, maybe a lowly $500 million per annum or Cy Pounds 400 per head...

thats the right calculation But all Cypriots becoming richer by $1000 overnight is not bad! This is why many times the numbers don't tell the whole story. You can have some billioners and then a lot of poor people and on average all people would seem rich!

[Niki]

Never mind all that - he'd be a great sugar daddy. Anyone got his number?