Sunday Times Rich List has ranked Fredriksen's wealth as £475m (2003), £1.050b (2004) and £1.887b (2005). In 2012, Fredriksen and his family were listed as the 9th richest in Britain with a combined wealth of £6.6bn. Fredriksen owns houses in London, Oslo, Cyprus, and Marbella, Spain. His house The Old Rectory in London has been estimated to be worth around US$172 million. He is a collector of classic Norwegian art. Philanthropy Fredriksen claims to support research projects at The Radium Hospital and to have donated several hundreds of millions of Norwegian kroner to medical research at hospitals in Norway. Gard case In 1985, the Norwegian insurance company Gard became suspicious about losses of cargo from Fredriksen's tankers. A private investigation was initiated, and a system for the use of heavy oil as bunker fuel was revealed. The case was turned over to the Norwegian police and in June 1986 Fredriksen's offices in Oslo were searched and several of his nearest associates, and after a while also Fredriksen, were placed in detention while the case was investigated. After several years of arguments between the various lawyers, the case was settled out of court. Fredriksen had to pay a fine of 2 million NOK for risking his crew's lives, and in addition had to pay the insurance company Gard an amount of over 800,000. References Literature Hauge, Odd Harald and Gunnar Stavrum. Storeulv, en uautorisert biografi om John Fredriksen. Oslo: Gyldendal, 2005. . Print. 1944 births Cypriot billionaires 20th-century Cypriot businesspeople Living people Norwegian businesspeople in shipping Norwegian emigrants to Cyprus Businesspeople from Oslo Norwegian people of Danish descent Cypriot people of Norwegian descent Naturalized citizens of Cyprus People who lost Norwegian citizenship Conservatism in Norway