Norway’s richest fared even better under Labour

richest money euroRich. Photo:

Norway’s richest thrived even better under Labour than under right wingers

The net worth ​​of the 400 richest people in Norway rose as much under the Labour led red-green government as it has under today’s blue-blue coalition government. (Editors note: See bottom of the article for definitions of the terms).


Kapital magazine compiles a list of the 400 richest people in the country every year. According to Klassekampen newspaper, a comparison of these lists shows that the 400 richest have become NOK 214 billion richer since today’s coalition were voted into government in 2013, and up until the autumn of 2016.

However, during the Stoltenberg government from 2009, the richest people’s wealth rose by 232 billion. Now, the figure was estimated for one year longer than during the first period.

250 Billonaires (in Norwegian Kroner)

When these figures are adjusted for general price inflation between the corresponding periods, it shows that the richest people’s wealth ​​rose marginally more per year under the red-green government than it has during today’s right-wing coalition government of Fremskrittspartiet (Progress Party – Frp) and Høyre (Conservatives – H).

From 2005 to 2013, according to Kapital, the number of billionaires increased from 86 to 200. During the first three years of today’s government, 51 new ‘billionaires club’ members have arrived. This represents a number of 251 billionaires in Norway in 2016.

Government Coalitions

The red-green coalition consists of:

  • The Labour Party (Arbeiderpartiet, AP)
  • The Center Party (Senterpartiet, SP)
  • The Socialist Party (Sosialistisk Venstreparti, SV)

The current governing blue-blue coalition:

  • The Conservatives (Høyre, H)
  • The Progress Party (Fremskrittspartiet, FrP)
  • The Christian Democrats (Kristelig Folkeparti, KrF) *
  • The Liberal Party (Venstre, V) *

*) Supporting parties

Other significant parties (that on a good day might break the barrier limit):

  • The Greens (Miljøpartiet de Grønne, MDG)
  • Far Left, Red (Rødt)

MDG Has currently one representative in Parliament (Stortinget), whereas Rødt at the moment is without representation. There are numerous other parties that participate in the general elections, most of which have minuscule support, at least at the time of writing.


© NTB Scanpix / Norway Today