The insane life of Norwegian salmon heir Gustav Magnar Witzøe, the third youngest billionaire in the world at the age of 24

http://instagr.am/p/BUMgy1lhuVk

There is something intensely intriguing about the world’s richest people – and as the third youngest billionaire in the world and Norway’s richest man, 24-year-old Gustav Magnar Witzøe certainly makes for an interesting case study.

Gustav Magnar owns almost half of Norwegian fish farming company Salmar, a stake that was gifted to him by his father when he was just 19. He’s now worth a staggering $US1.9 billion (£1.4 billion),according to Forbes.

Fortunately for anyone curious about he spends his wealth, he documents his extravagant lifestyle on Instagram.

Keep scrolling to see how the third youngest billionaire in the world splits his time between his glamorous family, exotic holidays, getting tattoos, buying expensive clothes, and investing in local tech startups.


Meet 24-year-old Gustav Magnar Witzøe, who is worth an estimated $US1.9 billion (£1.4 billion), making him the third youngest billionaire in the world.

View this post on Instagram

Joyeux 14 Juillet ????⚪️????????

A post shared by Gustav Magnar Witzøe (@guswitzoe) on

Source: Forbes


Gustav Magnar’s extreme wealth comes from his stake in Norwegian fish farming company Salmar. He owns almost half of the firm, which is one of the world’s largest salmon producers.

View this post on Instagram

⬅️????????????

A post shared by Gustav Magnar Witzøe (@guswitzoe) on

Source: Forbes


Salmar is headquartered on the island of Frøya in the region of Central-Norway, where they also have a processing factory.


Gustav Magnar’s father, Gustav Witzøe — who founded the company in 1991 — gifted Gustav Magnar’s stake to him in 2013, when he was just 19.

View this post on Instagram

Wedding crashers ????????‍♂️

A post shared by Gustav Magnar Witzøe (@guswitzoe) on

Source: Forbes


Gustav Witzøe, who still runs the company, said that the family had “long discussions” over the decision to put a 19 year old in charge of the company’s shares. “There are pluses and minuses,” he reportedly said. “It can affect you in many ways, good and bad. It could affect relationships with friends.”

Source: NRK


While his father runs Salmar, Gustav Magnar wants to “make his own mark” by making investments into local tech startups. In 2017 he invested in Norwegian Snapchat-challenger Gobiand and Airbnb host service Keybutler.

Sources: Forbes & Business Insider Nordic


Still, it looks as if he still makes it into the Salmar boardroom meetings.

View this post on Instagram

#sikt2013

A post shared by Gustav Magnar Witzøe (@guswitzoe) on

Source: Forbes


Outside of the worlds of salmon and tech, Gustav Magnar has plenty of tattoos and is apparently really into his fashion. He is a regular on the front row of Norwegian fashion shows.

View this post on Instagram

Straight up

A post shared by Gustav Magnar Witzøe (@guswitzoe) on


He’s a fan of a sharp suit…

View this post on Instagram

????????

A post shared by Gustav Magnar Witzøe (@guswitzoe) on


…And appears to have more than a few expensive watches.

http://instagr.am/p/08HiSjI-cw


Here he is with his mother, Oddny Witzøe. They’re a glamorous family.


He appears to fit some travel in alongside making investments and attending meetings. Here he is with a friend in Dubai in January.

View this post on Instagram

This guy ????☝️ #tb

A post shared by Gustav Magnar Witzøe (@guswitzoe) on


Later that month he appeared to be enjoying a spot of skiing. Gustav Magnar apparently likes sport, and is also a keen golfer.

View this post on Instagram

Mississippi

A post shared by Gustav Magnar Witzøe (@guswitzoe) on


He posted this snap of a paradise-like destination just a month later, in February.

View this post on Instagram

???????? -20 degrees ❄️ #tb

A post shared by Gustav Magnar Witzøe (@guswitzoe) on


When he’s not travelling, you might catch him driving around in a Porsche…


…Or hanging out with his pooch — his is a “blue staffy.”

View this post on Instagram

????

A post shared by Gustav Magnar Witzøe (@guswitzoe) on


And if his life doesn’t seem flashy enough, you’ll often catch him chomping on a cigar on Instagram.

View this post on Instagram

Happy new year ????

A post shared by Gustav Magnar Witzøe (@guswitzoe) on

NOW WATCH: Executive Life videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.