Odd Reitan Net Worth

Odd Reitan has an estimated net worth of $8.8 billion, according to Forbes Real-Time Billionaires, Odd Reitan profile (figures as of October 20, 2026). That is up from $6.1 billion in 2019.

Odd Reitan is a Norwegian businessman best known for building one of the biggest grocery groups in Norway. He opened his first shop in Trondheim in 1972 with his father, after growing up in a family of single-store grocers. In 1979, he started the REMA 1000 grocery chain. By 1990, the brand had spread widely across Norway, with stores in villages that had more than 10,000 people.

His wealth comes from retail and real estate through Reitangruppen, a privately held company he solely owns. The group runs grocery and convenience stores across Scandinavia and the Baltic and employs 38,000 people. That long expansion turned a local shop into a major regional business. Forbes valued him at $8.8 billion on its real-time billionaires tracker as of October 20, 2026, placing most of his fortune in the business and its related property interests.

How Odd Reitan built his fortune

Reitan made his name in discount grocery retail. He began with a single store in 1972, then launched REMA 1000 in 1979. The chain became a major success in Norway, and by 1990 it had reached villages across the country with more than 10,000 residents. That early growth created the base for a much larger company built around everyday shopping, store operations, and expansion into new markets.

Today, his money is tied to Reitangruppen, which he solely owns. The company operates grocery and convenience stores throughout Scandinavia and the Baltic. Retail is the core business, and real estate is also part of the picture, matching the way Forbes groups his wealth. Because the company is privately held, his fortune is closely linked to the value of the stores, the wider retail network, and the property connected to that business.

How Forbes' estimate moved

Forbes has shown big swings in its estimate of Reitan's wealth over time. It put him at $6.1 billion in 2019, then $4.1 billion in 2020. The estimate later returned to $6.1 billion in 2021. In the next few years, Forbes listed $5.7 billion in 2022, $4.5 billion in 2023, and $4.9 billion in 2024. Those moves point to changing views of what his privately held retail and real estate assets were worth.

The estimate climbed again after that. Forbes listed Reitan at $5.9 billion in 2025 and $9.1 billion on its World's Billionaires List in 2026. On the real-time tracker in October 2026, Forbes showed $8.8 billion. Since his wealth comes from ownership of a private retail group with real estate exposure, changes in the estimate largely track how Forbes values that business at different points rather than salary or a single public stock price.