Gustav Magnar Witzøe: The Billionaire Salmon Heir Making Waves in Fashion and Investment

Gustav Magnar Witzøe, born on February 8, 1993, in Frøya, Norway, is a prominent figure in the global business landscape, known for his substantial wealth, entrepreneurial ventures, and recent forays into the fashion industry. As of January 2025, Forbes estimates his net worth at $3.1 billion, ranking him among the world’s youngest billionaires.

Witzøe’s financial ascent is primarily attributed to his significant stake in SalMar ASA, one of the world’s largest producers of farmed salmon. Founded by his father, Gustav Witzøe Sr., in 1991, SalMar has been instrumental in revolutionizing fish farming in Norway, emphasizing industrialization and product refinement to achieve higher profit margins. In 2013, at the age of 18, Gustav Jr. was gifted nearly half of the company, a strategic move by his father to manage inheritance tax implications.

Despite his substantial ownership, Witzøe Sr. continues to oversee the company’s operations, allowing Gustav Jr. the freedom to explore his interests beyond the family business. Demonstrating a keen eye for innovation, Gustav Jr. has diversified his investment portfolio to include technology startups and real estate. Through his investment firm, Wiski Capital, he has backed ventures such as Gobi, a Norwegian competitor to Snapchat, and Keybutler, a service tailored for Airbnb hosts.

In addition to his business endeavors, Witzøe has made notable strides in the fashion industry. Encouraged by a friend, he embarked on a modeling career and is currently represented by agencies like Idol Looks and Next Models Worldwide. His modeling pursuits have led to features in esteemed publications, including Elle and The Telegraph.

Witzøe’s presence in the fashion world was further solidified with his appearances at the Met Gala. In May 2024, he garnered significant attention for his salmon-colored bodysuit with a flowing train, a custom ensemble by Versace that paid homage to his family’s salmon farming heritage. His bold fashion choices have been well-received, earning him recognition on various best-dressed lists and acclaim from fashion enthusiasts.

Beyond his professional and fashion pursuits, Witzøe maintains a lifestyle that reflects both luxury and humility. An avid traveler, his social media profiles showcase journeys to destinations like Paris, Lake Como, and Dubai. Despite his wealth, he remains grounded, frequently visiting his parents and childhood friends in Frøya. His commitment to family is evident, with a tattoo on his arm that reads “My true heroes,” dedicated to his parents.

Witzøe’s philanthropic efforts are channeled through The W Initiative, a foundation focused on enhancing the quality of life for children and young people. The organization supports projects that improve health, education, and opportunities for youth, both within Norway and internationally.

Despite his many achievements, Witzøe has faced challenges. At 19, he served a two-week prison sentence for reckless driving, an experience he openly acknowledges and from which he has learned valuable lessons.

In summary, Gustav Magnar Witzøe exemplifies a blend of inherited responsibility and personal ambition. While his stake in SalMar ASA provides a solid foundation, his ventures into technology investments and fashion modeling highlight a desire to carve out his own identity and make a unique impact on the world stage.