The flow of much of the world’s oil is controlled from a small suite of offices perched over a Tiffany & Co. store in the Chelsea section of London. That’s where John Fredriksen, a Norwegian shipping magnate worth $13.2 billion, manages the world’s largest fleet of supertankers, the most valuable deep-water drilling company and an armada of about 128 other vessels that carry minerals, grains and liquefied gases.
North Atlantic Drilling Ltd., the rig-owner controlled by billionaire John Fredriksen, signed a cooperation deal with OAO Rosneft that will make Russia’s biggest oil company one of its largest shareholders.
Buying a home in London’s most affluent areas is becoming unattainable for anyone without a billionaire’s bank balance. For those feeling squeezed out, a Swiss private bank is offering a side door to the market.
Bloomberg Markets’ inaugural list of the world’s richest people showcases the billionaires who pull the levers on the global economy. Their net worth totals $2.7 trillion, about the size of the gross domestic product of France, the fifth-biggest economy on the planet.
John Fredriksen, the second-biggest investor in travel operator TUI AG, cut his stake as the German company shifts away from the shipping industry that’s the focus of the Norwegian billionaire’s assets.
TUI AG’s No. 1 shareholder Alexey Mordashov said he won’t be selling his stake following the exit of other investors in Europe’s largest tour operator, while urging the company to simplify its portfolio of holiday brands.