DENMARK’S 50 WEALTHIEST

Stories about shipping, chain of stores, jewelers, construction materials, machinery, clothes and property. The top-10 is as follows:

Number 1:
Mærsk Mc-Kinney Møller, A.P. Møller – Mærsk, DKK 132.9 billion
Mærsk Mc-Kinney Møller’s fortune, including the fund-owned shares in A.P. Møller – Mærsk is by far the largest fortune concentration in Denmark. However, it has shrunk so that even at Esplanaden in Copenhagen cold winds are to be felt. Both from the surrounding world in the form of depreciation and internally from inadequate management.

Negative results from its mainstream business Maersk Line led to a change of management. On 1 December last year Nils Smedegaard Andersen took over after Jess Søderberg to turn around the development together with a new management team. Maersk Line caused surprise already in its six months’ accounts this year with a small positive result but there is still a long way to a responsible return of investment of a turnover of DKK 70 billion.

On the other hand the accounts – and the fortune – have benefitted from tremendous oil earnings. And here is more to come. The company is about to negotiate a prolongation of the contract with the state of Qatar, which seems to have a positive attitude. It will release an investment volume of DKK 30 billion up till 2011 in pursuit of a heavily increased oil production.

Number 2:
The family Holch Povlsen, A/S of 1.8.2000 (Bestseller), DKK 37.4
Fortune race at Bestseller. Many fortunes have been slimming this year compared with last year in line with the general stock market decline, but not so at the Holch Povlsen’s. The family is presently managing the country’s third largest fortune. Turnover in Bestseller increased by 17 per cent and the result before taxes by 25 per cent in the latest annual accounts.

The rapid growth was created by expansion in Europe, The Middle East and Canada. Moreover, however, the family is active in India and China – in the latter in partnership with Allan Warburg and Dan Friis.  The Chinese part of the business is particularly expansive so that the Bestseller chain has over 1700 stores in China today. It is a closely kept secret how profitable the China activities are but the rapid launch of stores indicates that there is a nice, positive cashflow.

The generational change has been in place for quite some time with Anders Holch Povlsen as CEO while his father and the founder Troels Holch Povlsen is chairman of the board.

Whether Anders’ younger brother Niels has been selected to take over the family’s half share of the Chinese activities in time is still unknown.

Number 3:
The family Kirk Kristiansen, Kirkbi and lego, DKK 31.3 billion
Advancement in the billion class. The ownership of the comprehensive toy manufacturer Lego in Billund and the respective money tank Kirkbi was reorganized at the change of the year to prepare for a future generational change.

Kjeld Kirk Kristiansen and his sister Gunhild Kirk Johansen split the money tank partly in Kirkbi Invest, which comprises Lego owned by Kjeld Kirk Kristiansen, his wife Camilla and their children Sofie, Thomas and Agnete, and partly Kirk Kapital, which comprises only money owned by Gunhild Kirk Johansen, her husband Mogens and their children Casper, Morten and Anders.

The capital in Swiss Interlego, which does not present independent accounts, continues to be undivided, whereas the family has decided to split the other company in Switzerland, Kirkbi AG, and divide the capital between the two groups of children. Apart from the mild substantial funding to the heirs the entire Kirk dynasty can profit by the continued restoration of the company. During the first six months of 2008 sales of Lego toys increased by 20 per cent compared with the year before at the same time as the result before taxes more than doubled to DKK 564 million.

Number 4: The family Clausen, Danfoss, DKK 31.2 billion
Number 5: The family Due Jensen, Grundfos, DKK 29.1 billion
Number 6: The family Kann-Rasmussen, VKR Holding, DKK 22.1 billion
Number 7: Lars Larsen, Jysk Holding, Jysk, DKK 20.2 billion
Number 8: Hanni Toosbuy Kasprzak, Ecco Holding, DKK 13.9 billion
Number 9: The family Kirk Johansen, DKK 7.4 billion
Number 10: The family Louis-Hansen, Coloplast, DKK 6.6 billion