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What Is Arne Naess Jr. Net Worth?
At the time of his death in 2004, Arne Naess Jr., the Norwegian shipping magnate, businessman, and mountaineer, had a reported net worth of $600 million. This figure represents the culmination of his diverse business ventures and investments over several decades.
Early Life and Career Beginnings
Arne Rudolf Ludvig Raab, later known as Arne Næss Jr., was born on December 8, 1937, in Oslo, Norway. His father, August Raab, was a German physician, and his mother, Kirsten Næss, was Norwegian. His parents’ divorce led to him being raised by his uncle, Arne Næss, a philosopher and mountaineer who significantly influenced his early life.
Growing up, Næss developed a passion for mountaineering, conquering twenty of Norway’s major mountains by his late teens. After graduating, he demonstrated his adventurous spirit by climbing the spire of Oslo’s National Theater building, placing his cap on its needle.
Næss began his formal business career in 1964, relocating to New York City to work for his uncle Erling, a prominent businessman and shipping magnate. Four years later, in the late 1960s, he ventured out on his own, establishing a business in London focused on shipping, oil, and real estate development. This marked the beginning of his entrepreneurial journey, which would eventually contribute to his significant net worth.
Business Ventures and Investments
Arne Naess Jr.’s business career involved numerous investments across various sectors. His initial focus on shipping and real estate in London proved successful, laying the foundation for further expansion into other industries. Throughout his career, he navigated the ups and downs of the market, demonstrating resilience and adaptability.
Næss expanded his portfolio to include oil and other investments, further diversifying his sources of income. A notable investment was in Tandberg Data, an IT company, reflecting his willingness to explore opportunities in emerging technology sectors. While specific details on the initial investment amount and subsequent returns on Tandberg Data are not readily available, it was a significant part of his business empire.
His investments were not without risks. Næss experienced a significant financial setback when he invested in Global Money Games, which turned out to be a Ponzi scheme. Although the exact amount lost in this venture remains undisclosed, it underscores the inherent uncertainties in the world of investments and the importance of due diligence.
Mountaineering Achievements and Personal Life
In the early 1970s, Næss returned to his passion for mountaineering, leading the first Norwegian expedition to Mount Everest. This expedition, which included renowned British mountaineer Chris Bonington, was considered one of the most successful ascents of the mountain ever. While mountaineering was not a direct source of monetary income, it brought him considerable recognition and prestige, enhancing his public profile.
Arne Naess Jr.’s personal life was also noteworthy. He married three times, including a marriage to singer Diana Ross in 1985. The couple had two sons, Ross and Evan. Additionally, through his marriage to Ross, Næss became stepfather to her three children: Rhonda, Chudney, and Tracee. Naess and Ross eventually separated in 1999 and divorced in 2000. Following his divorce from Ross, Næss lived with Camilla Astrup, with whom he had two sons, Nicklas and Louis.
Næss passed away in early 2004 at the age of 66 after falling 300 feet while climbing a mountain in South Africa. At the time of his death, Arne Naess Jr. net worth was estimated to be around $600 million. A few months after his passing, he was posthumously awarded the Laureus Lifetime Achievement Award for his contributions to the world of sports. While the specifics of his estate and how his assets were distributed are not publicly detailed, it is understood that his wealth was divided among his heirs.
In summary, Arne Naess Jr.’s net worth was a result of his successful business ventures in shipping, real estate, and oil, as well as strategic investments in companies like Tandberg Data. His life was marked by both significant achievements in the business world and a deep passion for mountaineering.
