Torstein Hagen

$18.01 B

Ranked #143 in World

About Torstein Hagen

Norwegian billionaire Torstein Hagen, the founder and chairman of Viking Cruises, is a prominent figure in the cruise industry, with a noteworthy career spanning several decades. Born and raised in Norway, Hagen's academic credentials include a physics degree from the Norwegian Institute of Technology and an MBA from Harvard Business School, 1968, underpinned by a Fulbright grant. His early professional journey involved reviving the Holland America Line in 1974, leading Bergen Steamship Company, and holding significant roles in other maritime companies. In 1997, Hagen established Viking Cruises, initially focusing on river cruises for English-speaking passengers over 55. The company, which renamed itself in 2013 to include ocean cruises, now boasts a fleet surpassing 60 vessels, including the introduction of expedition tours in 2020. Hagen, now residing in Lucerne, Switzerland, continues to influence the cruise industry significantly, with his daughter Karine Hagen contributing to the family business.

Born

February 18, 1943

Age

83 years

Source Of Wealth

Cruises

Industries

Service

Citizenship

Norway

Residence

Lucerne

Spouse

Ellen-Karine Hagen (Divorced: 2017)

Children

Torstein Hagen, a Norwegian billionaire businessman, was born and raised in Norway. He pursued his higher education in physics at the Norwegian Institute of Technology, where he earned a degree. Hagen's academic journey continued as he completed a master's thesis on artificial intelligence and machine learning, demonstrating his early interest in cutting-edge technologies. His intellectual achievements were further recognized when he won a prestigious Fulbright grant, enabling him to study in the United States. Hagen's educational background culminated in an MBA from Harvard Business School, which he obtained in 1968.

Torstein Hagen: Family

Torstein Hagen has experienced both personal and professional success. While information about his family is limited, it is known that he has two children from a previous marriage. His daughter, Karine Hagen, is actively involved in Viking River Cruises, contributing to the family's business legacy.

Torstein Hagen: Career Highlights

Torstein Hagen's career in the cruise industry spans several decades, marked by significant achievements and leadership roles. In 1974, he played a pivotal role in the revival of Holland America Line, bringing it back from the brink of bankruptcy. His expertise and strategic vision led him to become the CEO of Bergen Steamship Company (Bergenske Dampskibsselskab) in 1976, followed by his tenure as CEO of Royal Viking Line from 1980 to 1984. Hagen's entrepreneurial spirit was further demonstrated when he joined the board of Holland America Line in 1985 and served on the board of Kloster Cruise.

In the early 1990s, Hagen made a bold move by acquiring a 27% stake in Nedlloyd, a Rotterdam-based shipping company, becoming its largest shareholder. However, several years later, he sold his shares at a loss.

Torstein Hagen: Companies

Torstein Hagen's entrepreneurial ventures have resulted in the establishment of several notable companies. In 1997, he founded Viking River Cruises, marking a significant milestone in his career. The company initially operated with four river ships, offering Russian river cruises.

Hagen's vision for Viking River Cruises focused on catering to English-speaking travelers over 55, particularly Americans. Over the years, the company has expanded its fleet to more than 70 river cruise ships, primarily navigating major European waterways.

In May 2013, Viking River Cruises underwent a name change to Viking Cruises, signaling the company's expansion into the ocean cruise sector. The first ocean cruise was launched in 2015, marking another milestone in Hagen's entrepreneurial journey. Viking Cruises continued to grow, and in 2016, Hagen sold a 23% stake in the company to TPG Capital and the Canada Pension Plan Investment Board for a total of $672 million.

Torstein Hagen: Major Achievements

Torstein Hagen's major achievements are deeply intertwined with his contributions to the cruise industry. His successful turnaround of Holland America Line in 1974 stands as a testament to his leadership and strategic acumen. Hagen's vision for Viking Cruises has transformed the company into a leading player in the river and ocean cruise markets. His focus on providing exceptional experiences for English-speaking travelers over 55 has resonated with customers, resulting in the company's sustained growth and success.

Torstein Hagen: Awards & Achievements

Torstein Hagen's accomplishments have been recognized through various awards and accolades. In 2014, he received the Lifetime Achievement Award from the Seatrade Cruise Awards, a prestigious honor bestowed upon individuals who have made significant contributions to the cruise industry. Hagen's leadership and entrepreneurial spirit have also been acknowledged by the Norwegian American Chamber of Commerce, which presented him with the Business Person of the Year award in 2015.

Torstein Hagen: Personal Life & Legacy

Torstein Hagen maintains a relatively private personal life. He currently resides in Lucerne, Switzerland. Despite his success and achievements, Hagen remains grounded and focused on his family. His daughter, Karine Hagen, plays an active role in Viking River Cruises, continuing the family's legacy in the cruise industry.

Torstein Hagen: Trivia

Torstein Hagen's passion for innovation extends beyond the cruise industry.

He is known for his interest in technology and has invested in several tech startups. Hagen's commitment to sustainability is also evident in his support for environmental initiatives, including the use of hybrid engines in Viking Cruises' ships.

Wealth History

Timeline

Torstein Hagen, a Norwegian billionaire businessman, is the founder and chairman of Viking Cruises.

Hagen was born and raised in Norway.

He earned a degree in physics at the Norwegian Institute of Technology.

Hagen completed a master's thesis on artificial intelligence and machine learning.

He won a Fulbright grant to study in the United States.

1968

Hagen received an MBA from Harvard Business School.

1974-96

Hagen worked as a consultant and later partner for McKinsey & Company in Europe.

1974

He helped bring Holland America Line back from near-bankruptcy.

1976

Hagen became CEO of Bergen Steamship Company (Bergenske Dampskibsselskab).

1980-84

He served as CEO of Royal Viking Line.

1984

Hagen resigned from Royal Viking Line after a failed takeover bid.

1985

He joined the board of Holland America Line.

Hagen served on the board of Kloster Cruise.

He acquired a 27% stake in Nedlloyd, a Rotterdam-based shipping company, becoming the biggest shareholder in the early 1990s.

Hagen sold his shares in Nedlloyd several years later at a loss.

1997

Hagen founded Viking River Cruises with the purchase of four river ships.

He launched the company with four Russian river cruises.

Viking Cruises focuses on English-speaking travelers over 55, especially Americans.

The company has more than 70 river cruise ships, mainly navigating major European waterways.

May 2013

Hagen changed the company's name to Viking Cruises and announced plans to start an ocean cruise division.

2015

Viking Cruises launched its first ocean cruise.

2016

Hagen disposed of 23% of Viking Cruises to TPG Capital and the Canada Pension Plan Investment Board for a total of $672 million.

2017

Viking Cruises has a fleet of over 60 vessels and four ocean-going ships.

Hagen announced that Viking would begin offering expedition tours in early 2020.

January 2022

Viking's first tour explored Antarctica and the Great Lakes of North America.

August 2022

Viking's second tour sailed to Antarctica and the Arctic.

August 2022

Inauguration of the company's first custom vessel is planned.

Hagen is divorced with two children.

He lives in Lucerne, Switzerland.

Hagen's daughter, Karine Hagen, works for Viking River Cruises.

Torstein Hagen : FAQs

What is Torstein Hagen's current net worth?

Torstein Hagen's current net worth is $18.01 billion.

What is Torstein Hagen's current global rank among billionaires?

Torstein Hagen holds the 143rd position globally among billionaires.

What is Torstein Hagen's current ranking within the Norway?

Torstein Hagen holds the 1st position in Norway.

What was the change in Torstein Hagen's net worth compared to the previous year?

Torstein Hagen's net worth increased by 1.03 billion dollars compared to the previous year 2025, when his net worth was 16.97 billion dollars.

What is the recent change in Torstein Hagen's net worth?

Torstein Hagen's net worth increased by 647.29 million dollars recently, a 3.59% increase, with his net worth standing at 18.01 billion dollars.

What are Torstein Hagen's main sources of wealth?

Torstein Hagen's main source of income comes from Cruises.

In which industry does Torstein Hagen primarily operate?

Torstein Hagen is primarily involved in the Service industry.

How old is Torstein Hagen?

Torstein Hagen is 83 years old.

How many children does Torstein Hagen have?

Torstein Hagen has 2 children.

Who is Torstein Hagen and what is he known for?

Torstein Hagen is a Norwegian billionaire businessman, renowned as the founder and chairman of Viking Cruises, a leading company in river and ocean cruising.

What significant accomplishments did Torstein Hagen achieve in his early career?

In his early career, Torstein Hagen made notable contributions in the cruise industry, including helping Holland America Line avoid bankruptcy, becoming CEO of Bergen Steamship Company, leading Royal Viking Line, and eventually becoming a major shareholder in the shipping company Nedlloyd.

How did Viking Cruises evolve under Torstein Hagen's leadership?

Under Torstein Hagen's leadership, Viking Cruises expanded from acquiring four river ships in 1997 to operating more than 70 river cruise ships and launching an ocean cruise division in 2015, with plans for expedition tours that began in 2022.

What were Torstein Hagen's educational foundations that contributed to his success?

Torstein Hagen's educational background includes a degree in physics from the Norwegian Institute of Technology, a master's thesis on artificial intelligence and machine learning, and an MBA from Harvard Business School, which laid the groundwork for his successful business career.

Can you tell us about Torstein Hagen's personal life and his connection to Viking Cruises?

Torstein Hagen is divorced with two children and resides in Lucerne, Switzerland. His daughter, Karine Hagen, is actively involved in the family business, working for Viking River Cruises.