Torbjörn Törnqvist

Torbjörn Törnqvist (born 1953) is a Swedish billionaire, and the former CEO and co-founder of Gunvor, "one of the largest commodities conglomerates in the world", with the Russian billionaire, Gennady Timchenko.[1][2]

Early life

Törnqvist was born in 1953,[3] in Stockholm, Sweden.[2] He has a degree from Stockholm University.[1]

Career

Törnqvist co-founded Gunvor in 1997 and is its CEO.[3] Since its founding, Gunvor has grown to become one of the largest crude oil traders in the world.[4][5][6]

In 2016, he reduced his stake in Gunvor from 78% to 70%, and received a special dividend of about $1 billion, part of which went to repay his co-founder Gennady Timchenko, who sold his 44% to Törnqvist in March 2014, a day before Timchenko was sanctioned by the US for his "close ties to Vladimir Putin".[7]

Philanthropy

Since 2000, Gunvor has allocated a percentage of its profits towards charity through the Gunvor Foundation.[8] Törnqvist is an active supporter of AIK Hockey and has pumped approximately 12 million SEK ($ USD) into the team.[9]

Sailing

Törnqvist is a keen sailor, and the head of Artemis Racing, which has competed in the America's Cup.[10][11] He played a key role in Sweden's return to the sport.[12]

Personal life

Törnqvist lives in Geneva, Switzerland.[1]

His first wife was Eva Birgitta Törnqvist.[13] His second wife is Natalia Törnqvist.[13]