Olav Thon, billionaire Norwegian real estate developer, dead at 101

Date:

Share post:


OSLO, Norway — Olav Thon, a billionaire entrepreneur recognizable for his bright red cap who went from selling leather and fox hides in his youth to build one of Norway’s biggest real estate empires, has died, his company said Saturday. He was 101.

“It is with great sadness that we have today received the news that Olav Thon has passed away,” Olav Thon Gruppen said in a statement. The cause of death was not immediately specified.

Thon was born in the village of Ål in the Hallingdal Valley, northwest of Oslo, on June 29, 1923.

He had initially planned to study medicine, but World War II extinguished those hopes, and he instead turned to breeding animals for their fur at his home farm, according to Norwegian news agency NTB.

Thon eventually moved from selling leather into real estate and purchased his first apartment building in 1950.

From there, he built a group that today employs thousands of staffers and counts over 80 shopping centers in Norway and neighboring Sweden. It also owns some 90 hotels in those two countries as well as Belgium, Denmark and the Netherlands, according to the company.

He transferred most assets of the company to the Olav Thon Foundation after it was created in 2013.

Thon was known for his penchant for the outdoors, and supported tourism and hiking activities in Norway. His philanthropy included support for medical research, notably in muscular-skeletal disorders.

After his longtime wife Inge-Johanne Thon died in 2018, he married again — aged 95 — the following year to Sissel Berdal Haga at the century-old Hotel Bristol in Oslo, which was his first hotel purchase, bought in 1974.



Source link

Lisa Holden
Lisa Holden
Lisa Holden is a news writer for LinkDaddy News. She writes health, sport, tech, and more. Some of her favorite topics include the latest trends in fitness and wellness, the best ways to use technology to improve your life, and the latest developments in medical research.

Recent posts

Related articles

Former TV host Carlos Watson gets nearly 10 years in prison in case about failed startup Ozy Media

NEW YORK -- Former talk show host Carlos Watson was sentenced Monday to nearly 10 years in...

US to require passenger vehicles to sound alarms if rear passengers don't fasten their seat belts

DETROIT -- Starting in September of 2027, all new passenger vehicles in the U.S. will have to...

Canada's finance minister resigns as unpopular Trudeau faces biggest test of his political career

TORONTO -- Canadian Prime Minister Justin Trudeau faces the biggest test of his political career after Finance...

Trump says he will 'look at' pardon for embattled New York mayor Eric Adams

PALM BEACH, Fla. -- President-elect Donald Trump on Monday said in a far-ranging news conference that ihe...

Senate report alleges Amazon rejected warehouse safety recommendations due to productivity concerns

At least two internal Amazon studies found a link between how quickly the online retailer's warehouse workers...

Damaged Russian ships spilled an estimated 3,700 tons of oil in Kerch Strait, state media says

MOSCOW -- An estimated 3,700 tons of low-grade fuel oil has spilled into the Kerch Strait after...

Trump to announce $100B SoftBank investment in the U.S.

PALM BEACH, Fla. -- President-elect Donald Trump will join SoftBank Group CEO Masayoshi Son at his Florida...

EU slaps sanctions on dozens more Russian officials and targets its shadow oil and gas fleet

BRUSSELS -- The European Union on Monday imposed fresh sanctions on dozens of officials linked to Russia’s...