Erik Must

Net Worth

$1.063B

+0.32% (24h)

Erik Must, born in 1943, is a prominent Norwegian investor with a net worth of $1.0 billion as of December 2025. His wealth originates from his successful stock brokerage career and subsequent investments. Must is known for his long-term investment strategy, particularly in media and industrial sectors. He founded the investment company Avanse Forvaltning and later owned Fondsfinans, a brokerage firm. His career includes significant roles in financial and industrial activities in Norway. Must is also recognized for his significant ownership in various Norwegian media companies, including Gyldendal ASA, and large stakes in Arendals Fossekompani and Børregaard.

The Full Dossier

Early Life

Erik Must was born on January 26, 1943, in Trondheim, Norway. He is the son of Arne Bernhoft Must, a banker, and Svanhild Synnøve Svendsen. Must's educational background includes a degree in Business Administration (siviløkonom) from the Copenhagen Business School.

Rise to Success

Must began his career as a stockbroker at Hans P. Jeppesen, where he met Kjell Christian Ulrichsen. Together, they formed the brokerage firm Fondfinans and dominated Norwegian capital markets during the 1970s and 1980s, utilizing savvy salesmanship. In 1996, Must acquired Ulrichsen's shares and used the profits from Fondsfinans to build a substantial private stock portfolio.

Key Business Strategies

Must is known for his long-term investment approach, often holding shares for extended periods, sometimes up to 50 years without selling. His investment strategy focuses on media and industrial companies, with significant stakes in businesses like Gyldendal ASA and Arendals Fossekompani. He gradually expands his stock portfolio in companies he is interested in.

Philanthropy

Information on Erik Must's specific philanthropic initiatives and amounts is not readily available in the search results.

Career Timeline

1996

Became Sole Owner of Fondsfinans

Must bought out Ulrichsen, becoming the sole owner of Fondsfinans.

1972

Took over Fondsfinans

Must and Ulrichsen took over the brokerage firm Fondsfinans.

1966

Founded Avanse Forvaltning

Established Avanse Forvaltning with Kjell Christian Ulrichsen.

Philanthropic Impact

Medical Research$XB

SAM fund for medical research

Member of the board.