Former model inherits salmon empire, aims to revolutionize industry with AI

Gustav Magnar Witzøe, a 33-year-old former model, has become a billionaire after inheriting a significant stake in his father's company, SalMar, one of the world's largest Atlantic salmon farming businesses. Witzøe is now at the helm of the Norwegian enterprise, aiming to drive innovation and maintain its pioneering status in the industry.

His father, Gustav Witzøe, the founder of SalMar, transferred nearly half of his shares to his son in 2013, partly to mitigate inheritance tax. This move instantly made the younger Witzøe a billionaire. More recently, he assumed the role of president at Kvarv, an investment company that controls SalMar. The company's headquarters and primary salmon farm are located on Frøya, an island renowned for its concentration of aquaculture giants, a setting that inspired a Netflix series.

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his dream is to make SalMar “the best farming company in the world”

Witzøe's ambition is to make SalMar the "best farming company in the world." To achieve this, he plans to leverage artificial intelligence to address the significant challenge of parasites in salmon farming. Unlike traditional, often invasive methods that rely on chemicals, SalMar is developing a system to remotely locate and eliminate parasites without harming the fish, promoting sustainable practices.

Born and raised on Frøya, Witzøe's life has always been intertwined with the family business. He reportedly worked on the farm from a young age, feeding salmon and monitoring their health, rather than solely enjoying the privileges of his wealthy background. Although he did not complete university, he briefly pursued a modeling career in New York before returning to focus on the family's aquaculture operations.

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I believe in the sense of paying taxes.