Torbjörn Törnqvist

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Torbjörn Törnqvist
Born1953 (age 64–65)
Stockholm, Sweden
ResidenceGeneva, Switzerland
NationalitySwedish
Alma materStockholm 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]

Early life[edit]

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

Career[edit]

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]

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

Controversies[edit]

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[edit]

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

Personal life[edit]

Törnqvist lives in Geneva, Switzerland.[1]

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

References[edit]

  1. ^ a b c d "Torbjorn Tornqvist". Forbes.com. Retrieved 20 April 2017.
  2. ^ a b c d "Leadership". Gunvor Group. Retrieved 20 April 2017.
  3. ^ a b c 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. ^ a b "Oljemiljardären lever livet i hundra knyck".