Torbjörn Törnqvist

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Torbjörn Törnqvist
Born1953 (age 6768)
Stockholm, Sweden
NationalitySwedish
Alma mater Stockholm University
OccupationBusinessman
Net worthUS$2.1 billion (April 2017) [1]

Torbjörn Törnqvist (born 1953) is a Swedish billionaire, and the CEO and co-founder of Gunvor, "one of the largest commodities conglomerates in the world", with the Russian billionaire, Gennady Timchenko. [1] [2]

Contents

Early life

Törnqvist was born in 1953, [3] in Stockholm, Sweden. [2] He has a degree from Stockholm University. [1]

Career

Törnqvist co-founded Gunvor in 1997, [3] and he is its CEO. [2]

In 2016, he reduced his stake in Gunvor from 78% to 70%, and received a special dividend of about $1 billion, part of which went to repay his co-founder Gennady Timchenko, who sold his 44% to Törnqvist in March 2014, a day before Timchenko was sanctioned by the US for his "close ties to Vladimir Putin". [4]

Controversies

In 2017, a Swedish Radio documentary presented evidence that Gunvor had been involved in a Belarusian oil smuggling scheme under Törnqvist's watch, featuring corruption at the highest levels in the Belarus government. [5] This documentary, which includes an interview with Törnqvist, won the 2017 Prix Europa award in the "Radio Current Affairs" category. [6] Gunvor has officially denied any wrongdoing.

Sailing

Törnqvist is a keen sailor, and the head of Artemis Racing, who have competed in the America’s Cup. [7] [8]

Personal life

Törnqvist lives in Geneva, Switzerland. [1]

His first wife was Eva Birgitta Törnqvist. [9] His second wife is Natalia, with whom he has a son. [9]

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References

  1. 1 2 3 4 "Torbjorn Tornqvist". Forbes.com. Retrieved 20 April 2017.
  2. 1 2 3 "Leadership". Gunvor Group. Retrieved 20 April 2017.
  3. 1 2 webmaster (28 November 2011). "InterOil, LNG, Gunvor ink deal on gas scheme". The National. Retrieved 20 April 2017.
  4. "Billionaire Gunvor CEO Tornqvist Cutting Stake in Oil Trader". 31 May 2016 via www.bloomberg.com.
  5. "KGB-agenten och oljesmugglingen". 7 May 2017 via http://sverigesradio.se/.
  6. "Ekot-granskning om oljesmuggling prisas". 20 October 2017 via http://sverigesradio.se/.
  7. "Torbjörn Törnqvist, head of Artemis Racing – Yachting World". 21 July 2015.
  8. "Artemis Racing Launches Its AC Race Boat - Bernews.com". 22 February 2017.
  9. 1 2 "Oljemiljardären lever livet i hundra knyck".