Olav Thon, Norwegian business icon, dies at 101
At the age of 101, one of Norway's wealthiest individuals, Olav Thon, has passed away. He was the owner of shopping centres and hotels in Northern Europe. His fortune was estimated at 25 billion kroner (over £1.5 billion).
The news of the death of the well-known Norwegian entrepreneur was reported by PAP. For 70 years, Olav Thon led the company he founded, Olav Thon Gruppen, which was involved in hospitality and residential construction.
The company also invested in shopping centres. Thon Hotels in Norway had 10,000 hotel rooms. In Sweden and Norway, Thon Eiendom had more than 90 department stores in its portfolio.
A legend of Norwegian business has passed away
Thon was born on a farm in the Norwegian countryside, but at the age of 17, he opened his first fur shop in Oslo. His real estate empire began to grow in 1950.
He was known for his social activity, serving as honorary chairman of the Norwegian Tourism Association and supporting charitable activities. He sponsored children's sports clubs, and his trademark was a red woollen cap and outdoor clothing.
In 2019, he married his longtime partner Sissel Berdal Haga. The couple had no children. Despite his advanced age, Thon enjoyed good health. In 2013, he transferred his shares to the Thon Stiftelsen Foundation, which supports scientific research in the medical sector.
His characteristic feature was a red woollen cap, which he never took off, as well as loose outdoor clothing.
