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Jun 5th, 2017
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  1. Title: Olav Thon - Norways nicest person of all time?
  2. Image: http://fm.cnbc.com/applications/cnbc.com/resources/img/editorial/2013/12/10/101262012-94822134.530x298.jpg?v=1386698763
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  5. One of the Norwegian peoples favorite persons - Olav Thon is a truly remarkable man. He lives in a small town called Sollihøgda. He belives in god and is an avid church goer. In a long term marriage but without children. The part of his success he is most proud of is his big tax bill every year. A bill he gladly pays. Perhaps his mindset on taxes is part of why he is so loved by the Norwegian people. His love for his country is incredible.
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  7. So how did Olav manage to succeed so well? Lets take a closer look!
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  9. A big part of his success can be attributed to the simple fact that he loves to work. He's been consistently worked 12 hour days for his entire career, and he still does so today at age 92. Very impressive indeed. His company, Olav Thon Gruppen owns several shopping malls and hotels both in Norway and abroad. A worry for Olav Thons fortune is that both the hotel and mall industries are under serious threat from competition. AirBnB's huge success has taken a big chunk of market share from hotels around the world, and if this continues hotel revenues may continue to drop. The shopping mall business is doomed to fail by many hedge fund managers, as the stock market puts its money on online retail being the killer of shopping malls. If Olav Thon Gruppen can not diversify their investments, his fortune may actually start to crumble within a few decades.
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  11. He started his career as a young boy. His plans to study medicine failed as WW2 broke out, and his parents thought it would be safer if he stayed at home. The area he is from is filled with fox farms. Olavs first business venture was to buy a few cheap fox pelts in his home town, and travel to the Norwegian capital Oslo to sell them. After this he just kept on scaling and scaling this business, until he had enough money to invest in his first property.
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  13. Olav still works 12 hours to this day, and he says that almost nothing happens at his company without his yes or no.
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  15. If you'd like to find out more about cool characters from Norway, subscribe to our newsletter!
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