* Born on Oslo's east side, Etterstad, the son of a welder, Fredriksen began as a trainee in a shipbrokering company. At the age of 27 he started working for himself. Fredriksen made his fortune during the Iran-Iraq wars in the 1980s when his tankers picked up oil at great risk and huge profits. As described by his biographer, "he was the lifeline to the Ayatollah." He is now the world's largest tanker owner, with more than seventy oil tankers, and major interests in oil rigs and fish farming. His fleet is dominated by costly double-hulled, environmentally safer tankers.
* James Winchester, a veteran shipping analyst at Lazard Frères has said of him, "He's a modern-day Onassis. The tanker king. He landed squarely in the sweet spot of the tanker cycle, with the largest fleet of ships." In 2001 an article on Forbes.com described him as having "a tanker fleet bigger than anything Aristotle Onassis ever had."
* Made big investment in liquefied natural gas tankers, betting that LNG would become the next crude oil; wager has yet to pay off.
Highlights
* Fredriksen made his fortune during the Iran-Iraq wars in the 1980s when his tankers picked up oil at great risk and huge profits. As described by his biographer, "he was the lifeline to the Ayatollah."
* "He's a modern-day Onassis. The tanker king. He landed squarely in the sweet spot of the tanker cycle, with the largest fleet of ships."
==BENEFITTING FROM CRISES==
==BEING IN THE RIGHT SPOT AT THE RIGHT TIME==
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