Torbjorn tornqvist biography of michaels
Torbjorn Tornqvist is a Swedish billionaire and the CEO and co-founder of Gunvor Group, one of the largest commodities conglomerates globally.
He began his career at British Petroleum in 1977 and co-founded Gunvor with Russian billionaire Gennady Timchenko in 2000.
Tornqvist now owns 80% of Gunvor, after buying out Timchenko's stake in 2014, just before US sanctions were imposed on Timchenko.
He is known for his expertise in oil trading and for expanding Gunvor's operations globally, including refineries, terminals, and mining operations in 35 countries.
Torbjorn Tornqvist was born in 1953 in Stockholm, Sweden.
He holds a degree from Stockholm University.
In 1997, Tornqvist co-founded Gunvor.
He has been the CEO of Gunvor since its inception.
In 2016, he reduced his stake in Gunvor from 78% to 70%, receiving a special dividend of about $1 billion, part of which went to repay his co-founder Gennady Timchenko.
In 2017, a Swedish Radio documentary alleged Gunvor's involvement in a Belarusian oil smuggling scheme during Tornqvist's leadership, which the company denied.
The documentary won the 2017 Prix Europa award in the 'Radio Current Affairs' category.
Tornqvist resides in Geneva, Switzerland.
He has been married twice, with Eva Birgitta Tornqvist as his first wife and Natalia Tornqvist as his second.
Tornqvist is an avid sailor and heads Artemis Racing, a participant in the America’s Cup.
Gunvor Group Ltd is a multinational energy commodities trading company registered in Cyprus, with its main trading office in Geneva, Switzerland.
The company operates globally, with trading offices in Singapore, Houston, Stamford, London, and Dubai.
Gunvor has investments in oil terminal and port facilities and operates in the trade, transport, storage, and optimization of petroleum and other energy products.
In 2021, Gunvor launched Nyera, a subsidiary focused on investing in renewable energy sources, run by energy transition director Fredrik Tornqvist.
Gunvor was founded in 2000 by Torbjorn Tornqvist and Gennady Timchenko, initially focused on exporting Russian oil.
The company has grown significantly, becoming the fourth largest crude oil trader globally by 2021.
Gunvor's operations span the Americas, Africa, Asia, and South America, with a focus on natural gas and LNG, which accounted for 44% of its traded volumes in 2021.
Gunvor has invested in oil storage facilities, refineries, port facilities, and terminals, providing a competitive advantage.
The company owns Clearlake Shipping Ltd, which shipped 30% of Baltic crude oil in 2006.
It controls a significant portion of Russian oil exports, with major investments in oil terminals and exploration.
Gunvor owns three major European refineries located in the Netherlands, Belgium, and Germany, with substantial processing capacities.
Source: Grizzly Bulls reporting
Methodology:Grizzly Bulls' Billionaires Index is a daily ranking of the world's billionaires and richest people. Grizzly Bulls strives to provide the most accurate net worth calculations available. We pull data from public equity markets, SEC filings, public real estate records, and other reputable sources.
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Edited by:Lee Bailey