OSLO: Most of this week was spent discussing the wealth of Bill Gates and Warren Buffett, and the presence of UAE businessmen in the Forbes list, but there was one name that quietly made a debut on the rich list.
Nineteen-year-old Alexandra Andresen is the world’s youngest billionaire, and she’s worth $1.2 billion. Equally rich is her sister, Katharina, who is one year elder to her. Both these sisters owe their wealth to their stake in their family’s tobacco business.
The sisters each own 42.2 per cent of the private company Ferd. Their father transferred the stock to his daughters in 2007, but still maintains control of the company.
Andresen is the daughter of Johan Andresen, a Norwegian investor from Oslo.
The family was involved in the tobacco industry with their brand Tiedemanns until 2005 before selling their stake to Skandinavisk Tobakskompagni for almost $500 million. Now, the Ferd investment company predominantly manages hedge funds.