Ah, sad news, folks! Olav Thon has shuffled off this mortal coil at the ripe old age of 101. Now, I don’t know about you, but that’s an impressive innings! At that age, many of us would still be trying to figure out how to use a smartphone, while he was busy building an empire. The guy was a property magnate, a philanthropist—basically a superhero without the cape!
Even Norway’s Prime Minister, Jonas Gahr Støre, stepped in to give a tribute, saying that “an era in Norwegian business is over.” I guess that means the stock markets will have to find a new way to thrive. Perhaps they could run on cup-of-tea fuel instead of the traditional caffeine?
But let’s talk about the legacy of Olav Thon. Born in Hallingdal, he started with just a couple of fox skins and a dream. You’ve got to hand it to him; that’s some impressive wealth generation! I once had two socks—I think I accidentally turned them into laundry money… but I digress.
From Fur to Fortune
Now, can we pause for a moment to appreciate the sheer iconic nature of his beginnings? He literally sold two red fox skins to fund his first business venture! Today, he probably could have sold them on eBay for a plush mattress! He bought his first property in 1950 and quickly grew into one of Norway’s richest men. It’s like watching someone play Monopoly but in real life. “Do not pass GO, do not collect 200 crowns. Buy ALL the hotels instead!”
With his hotels and shopping centers sprouting up across Norway, it’s safe to say that Thon was the one person whose memory you’d definitely want in a trivia night on Norwegian business tycoons. It would be a boring game without him, wouldn’t it? “Who is this man?” “No idea, but thankfully, I have a sugared donut to distract me!”
Hall of Fame
Former Prime Minister Erna Solberg chimed in, calling him a “great community builder.” And isn’t that what we all strive to be? I mean, you’ve got to respect a man whose life story could turn into a fairy tale. Most of us have trouble keeping our plants alive! Let alone building a property empire!
In true Thon style, he was a humble billionaire. Known for living soberly—because who has time for distractions like “fun” when you can be planning your next big property acquisition? If only we could all channel that energy during our Monday morning meetings! Less banter, more empire-building, please!
A Legacy that Lasts
So what’s next for the Olav Thon Foundation and all those thousands of employees he supported? “We have a good head on our shoulders,” his wife said about their decades of work together—probably while he was at the kitchen table still working away! Honestly, I struggle to decide what to have for breakfast, let alone considering working at the kitchen table during a global pandemic!
As we bid farewell to this remarkable man, let’s remember that he was not just a businessman; he was a symbol of dynamism, determination, and setting a legacy. Perhaps it’s time we pour one out for him, or better yet, let’s honor him by investing in our local communities—just not with fox skins, though. That wouldn’t fly in today’s world!
So, here’s to Olav Thon—a true giant among men. He may be gone, but his spirit and the impact he’s had on Norway’s business landscape will certainly remain. Cheers!
It is with profound sadness that we announce the passing of Olav Thon at the remarkable age of 101. This news has been confirmed by CEO Kjetil Nilsen through an official press release, marking a significant moment in the lives of many who admired him.
Numerous leaders from various sectors of society are extending their heartfelt condolences. Notably, Prime Minister Jonas Gahr Støre has publicly shared his grief.
In a statement filled with respect, Prime Minister Støre noted, “An era in Norwegian business has come to a close with the passing of Olav Thon. His legacy as an exceptional businessman, creator of industries, and provider of numerous jobs within and beyond Norway is unparalleled. He was deeply connected to his roots in Hallingdal and remained dedicated to supporting Norwegian local communities.”
Jonas Gahr Støre
Prime Minister
Former Prime Minister Erna Solberg also paid tribute, describing Thon as a remarkable architect of community.
Solberg stated, “He began with nothing but an astute mind, and his life story resembles that of a fairy tale. Few Norwegians have created as many jobs as Olav, and we owe him immense gratitude for his tireless contributions to our nation.” She also highlighted Thon’s philanthropic endeavors, noting that a philanthropist actively supports charitable causes.
Solberg reminisced, “He remained dedicated to his work almost until the very end. His passing at the extraordinary age of 101 is a benchmark that few will ever surpass.”
Erna Solberg
Right-wing leader
Read also: Remembers Olav Thon: – He was a wonderful man
One of Norway’s Richest
Thon, born on June 29, 1923, was not only a prominent businessman but also a property developer, investor, and philanthropist who left a lasting impact on Norwegian society.
He gained recognition particularly for his influential work within the hotel, retail, and property sectors.
For several years, he was listed among Norway’s wealthiest individuals, with an estimated fortune reaching NOK 21.3 billion in 2010, yet he was known for his humble lifestyle.
Thon grew up in modest conditions on a family farm in Ål, Hallingdal, before relocating to Oslo at the age of 16. Just a year later, he embarked on his entrepreneurial journey by operating a fur shop in the city.
The narrative of this young man from Hallingdal who ventured into the capital with merely a few fox skins to his name is well-known and serves as a testament to his indomitable spirit.
In 1950, Thon acquired his first property at Karl Johans gate 5-7, marking the beginning of a successful real estate career.
Fur and Property
His logo notably features two red fox skins that he sold for NOK 600, which provided him the capital to embark on his ventures.
In a significant personal milestone, Thon married Sissel Berdal Haga in 2019, three decades after their initial meeting, illustrating a lifelong partnership that endured the test of time.
During the COVID-19 pandemic, the couple demonstrated their unwavering dedication to their work, collaborating closely while navigating challenges together.
In an engaging interview, Sissel, now 82, expressed, “Olav is exceptionally active and resolute. He handles all decisions, and our days are filled with purpose and productivity. There is still much to achieve.”
Olav Thon and His Life’s Work
- One of Norway’s richest men. Born in Ål in Hallingdal on June 29, 1923.
- Established The Olav Thon Group, comprising Thon Eiendom and Thon Hotels.
- The property sector manages 84 shopping centers in Norway and ten in Sweden. Thon Hotels offers over 10,000 guest rooms in Norway and 1,600 in Brussels, Belgium.
- In 2019, the Olav Thon Group reported an operating income of approximately NOK 10 billion.
- The group employed more than 3,200 individuals in 2020 and is administered by the Olav Thon Foundation, which aims to allocate portions of its profits to social causes.
- Founded in 2013, the Olav Thon Foundation sustains stable and long-term ownership of the Olav Thon Group and its associated businesses.
- Annually, the Olav Thon Foundation dispenses approximately NOK 50 million for research and various charitable initiatives.
- The foundation intends to maintain continual ownership of the Olav Thon Group while contributing to non-profit causes.
- Thon held the honor of being an honorary member of the Norwegian Tourist Association and received an honorary doctorate from the University of Karlstad in Sweden.
Chairman of the Board for Over 70 Years
At the remarkable age of 98, Thon relinquished his position as CEO of the Olav Thon Group, having served as chairman of the board for over 70 years.
In a poignant farewell message to his employees, Thon remarked, “I am nearing 100 years old, born in 1923 and perhaps I should consider slowing down as many have suggested.”
He conveyed his decision to step down by stating, “It is perhaps time to allow younger individuals to take the lead.”
Reflecting on his tenure, he acknowledged, “I may not be as swift on my feet as in the past, but my mind remains sharp.”
– Is it sad to leave, VG asked.
Thon, donning his iconic red knitted hat, replied warmly, “Indeed, it is.”
How did Olav Thon’s business acumen contribute to his charitable efforts?
”>Thon was renowned for his philanthropic efforts, particularly in supporting education, research, and cultural initiatives across Norway.
Throughout his life, Olav Thon exemplified unwavering determination, remarkable business acumen, and a deep-seated commitment to the welfare of society. His legacy will undoubtedly endure in the hearts of the many lives he touched, and the institutions he supported will carry his values forward for generations to come.
