Torstein Hagen, the billionaire behind Viking Cruisesbuilt an empire that generates million in annual income. With his visionary focus on luxury cruisesnot only left his mark on the industry, but also managed to break a Guinness record that few would dare to imagine.
Hagen earned his place in the Guinness Book in 2014 when Viking Cruises managed to baptize 16 ships in just two days, an unprecedented milestone in the cruise industry. This record is just one of many he has throughout his career, standing out for his innovative approach to boat design and the creation of exclusive experiences for his passengers.
The story of Torstein Hagen, the billionaire who expanded his fortune with luxury cruises
This water magnate was born in Oslo, Norway, in 1943, in a family that gave him a solid education. From a young age, he stood out for his great business ability. He studied physics at Norwegian Institute of Technology and then he got a MBA at Harvard, which prepared him for success in the business world. His first big step in the cruise industry came in 1973, when he worked as consultant for Holland America Line, helping the company overcome the oil crisis.
In the 1980s, Hagen took over as CEO of Royal Viking Line a luxury cruise line and in 1997, at the age of 54, he founded Viking River Cruises after acquiring four river boats in Russia. It was then that his rise to success began with a company that, some time later, would become a market leader.
One of Hagen’s most notable achievements was the expansion of its fleet and innovation in ship design. In 2011, he launched the design “longship” and, in the following years, added 40 ships to its fleet, which not only increased capacity but also attracted a lot of media attention. In 2014, Viking established a Guinness record by naming 16 ships in two days, a reflection of its constant growth.
The company was not limited to river cruises. In 2015, he launched Viking Ocean Cruisesexpanding its offer to the open sea. With a current fleet of 10 oceangoing ships, the company has established itself as a key player in the luxury cruise market. In 2020, it also introduced Viking Expeditions, focusing on exploration destinations such as Antarctica.
Viking Cruises’ growth under Hagen was meteoric. Today, the company operates around the world, offering unique experiences for travelers who seek luxury, comfort and culture on every journey. Viking ships have earned a reputation for excellence, thanks to their innovations and service that takes care of every detail.
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How much is Torstein Hagen’s fortune, according to Forbes
Hagen’s fortune reaches 8.4 billion dollars at 81 years old. Throughout his career, he managed to grow his wealth, even during difficult times. In 2016, it sold 23% of Viking Cruises to TPG Capital and the Canada Pension Plan Investment Board for 672 million dollars.
In May 2024, Viking launched New York Stock Exchangeraising more than 1.5 billion dollars. This move not only consolidated Hagen’s position in the market, but also raised the value of his company, securing his place among the leaders of the cruise industry.
Source: Ambito
I am an author and journalist who has worked in the entertainment industry for over a decade. I currently work as a news editor at a major news website, and my focus is on covering the latest trends in entertainment. I also write occasional pieces for other outlets, and have authored two books about the entertainment industry.
