Torbjörn Törnqvist
Torbjörn Törnqvist | |
|---|---|
| Born | 1953 (age 72–73) Stockholm, Sweden |
| Alma mater | Stockholm University |
| Occupation | Businessman |
Torbjörn Törnqvist (born 1953) is a Swedish billionaire, and the former 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 and is its CEO.[3] Since its founding, Gunvor has grown to become one of the largest crude oil traders in the world.[4][5][6]
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".[7]
Philanthropy
[edit]Since 2000, Gunvor has allocated a percentage of its profits towards charity through the Gunvor Foundation.[8]
Sailing
[edit]Törnqvist is a keen sailor, and the head of Artemis Racing, which has competed in the America's Cup.[9][10] He played a key role in Sweden's return to the sport.[11]
Personal life
[edit]Törnqvist lives in Geneva, Switzerland.[1]
His first wife was Eva Birgitta Törnqvist.[12] His second wife is Natalia Törnqvist.[12]
References
[edit]- 1 2 3 "Torbjorn Tornqvist". Forbes. Retrieved 20 April 2017.
- 1 2 "Leadership". Gunvor Group. Retrieved 20 April 2017.
- 1 2 "InterOil, LNG, Gunvor ink deal on gas scheme". The National. 28 November 2011. Retrieved 20 April 2017.
- ↑ Hume, Neil (26 September 2014). "Gunvor nearly doubles cash reserves". Financial Times. Retrieved 9 February 2025.
- ↑ Wilson, Tom (1 August 2024). "Gunvor steps up biofuel bet as it uses record profits to diversify". Financial Times. Retrieved 9 February 2025.
- ↑ Davies, Rob (31 May 2016). "Gunvor chief used $1bn dividend to cut ties with Russian founder". The Guardian. ISSN 0261-3077. Retrieved 9 February 2025.
- ↑ "Billionaire Gunvor CEO Tornqvist Cutting Stake in Oil Trader". 31 May 2016 – via bloomberg.com.
- ↑ "Gunvor Foundation | Gunvor Foundation". gunvor-foundation.org. Retrieved 12 May 2025.
- ↑ "Torbjörn Törnqvist, head of Artemis Racing – Yachting World". 21 July 2015.
- ↑ "Artemis Racing Launches Its AC Race Boat". bernews.com. 22 February 2017.
- ↑ KanslietOnline™. "Artemis Technologies bakom ny svensk dam- och ungdomssatsning i America's Cup". www.svensksegling.se (in Swedish). Retrieved 12 May 2025.
- 1 2 "Oljemiljardären lever livet i hundra knyck". Aftonbladet. 22 March 2014.