Odd Reitan, a name synonymous with entrepreneurial success in Norway, has made a significant mark in the grocery industry. With a net worth of approximately $3.9 billion, his journey from humble beginnings to billionaire status is nothing short of inspiring. This article delves into the multifaceted life of Odd Reitan, examining his business ventures, personal background, and the lessons we can learn from his remarkable achievements.
Born in 1951 in Trondheim, Norway, Odd Reitan embarked on his professional journey in 1972 when he opened his first store alongside his father. Little did he know that this initial step would lead to the creation of Rema 1000, a grocery chain that would revolutionize the retail landscape in Norway and beyond. By 1990, Rema 1000 had established itself as a household name with stores in every Norwegian village boasting more than 10,000 inhabitants.
Reitan's entrepreneurial spirit didn't just stop at local success; it propelled him to expand internationally, penetrating markets in Denmark, Sweden, Poland, Hungary, and Slovakia. His story is a testament to the power of perseverance and innovation in business, reminding us that great things often start from small beginnings.
Biography of Odd Reitan
| Category | Richest Business › Richest Billionaires |
|---|---|
| Net Worth | $3.9 Billion |
| Birthdate | 1951 (73 years old) |
| Birthplace | Trondheim, Norway |
What is Odd Reitan's Net Worth?
Odd Reitan is a Norwegian grocery magnate who has a net worth of $3.9 billion. Odd Reitan reached his billionaire status as co-owner and CEO of Retain Group, a Norwegian wholesaler and retail franchiser. He made his beginnings in 1972 when he set up his first shop in Trondheim together with his father. By 1979, the father-and-son duo went on to found the grocery chain store Rema 1000.
Turning out to be a great success, there was opened a Rema 1000 store in every Norwegian village with more than 10,000 inhabitants by 1990. Ever since, the company has grown internationally, expanding in Denmark, Sweden, Poland, Hungary and Slovakia. That’s how Odd Reitan, who played in the music group Four Jets in the 1960s, became a successful entrepreneur some few decades later.
