Björgólfur Guðmundsson
Encyclopedia
Björgólfur Guðmundsson was the chairman and former owner of West Ham United FC. Björgólfur was Iceland's second businessman worth more than a billion dollars — his son, Björgólfur Thor Björgólfsson
being the first. He was ranked by Forbes magazine in March 2008 as the 1014th-richest person in the world, with a net worth of $1.1 billion. In December of the same year Forbes revalued his net worth to $0 and on 31 July 2009 he was declared bankrupt by the Icelandic courts with debts of almost £500 million (96 Billion ISK
).
Björgólfur is former majority owner and ex-chairman of now nationalised Icelandic bank Landsbanki
, the second largest company in Iceland. He is the father of Björgólfur Thor Björgólfsson.
, the founder of the American Nazi Party
. Björgólfur is a former footballer, furniture packer and law student, a recovering alcoholic of 30 years and an old-fashioned philanthropist. In the 1990s he was sentenced to 12 months in prison, suspended for 2 years, for bookkeeping offences, having faced around 450 charges. He went to Russia
, remade his fortune and returned to Iceland, where he also has interests in shipping, publishing, food, communications and property.
chairman of Avion Group
and his son. Bravo Brewery became a success and they later sold the venture to Heineken
for $400 million which they invested both in Iceland and abroad.
Danish journalists noted that in St. Petersburg, the Committee on External Economic Relations in Saint Petersburg's Mayor's office was responsible for foreigners in Saint Petersburg. The committee's chairman was Vladimir Putin
.
The Icelandic businessmen, together with Russian partners, founded a bottling company
Baltic Bottling Plant, which was sold to Pepsi. They moved to brewing and founded a brewing company Bravo International OOO in August 1996 which became Bravo International JSC in December 1997. Bravo Brewery became a success on the premium beer Botchkarov.
In 2005 an article in The Guardian wondered where the Icelandic money comes from and noted that in the 1990s the three Icelandic businessmen "were not only ploughing money into the country but doing it in the city regarded as the Russian mafia
capital. That investment was being made in the drinks sector, seen by the mafia as the industry of choice." Competitors in the St. Petersburg brewing market faced problems. Ilya Weismann, deputy director of competing beverage company Baltic, was assassinated on January 10, 2000. Soon afterwards Baltic director general Aslanbek Chochiev was also assassinated. One competing St Petersburg brewery burned to the ground.
The company to became the fastest growing brewery in Russia. Heineken
bought the extraordinarily successful brewery for $400m in 2002.
.
Björgólfur has been a keen football
fan for years and led the consortium which bought the English Premier League football club West Ham United. He bought 90% of the club himself and became the club's Honorary Life President in June 2006, alongside Eggert Magnússon
who became Chairman. In December 2007, Björgólfur bought out Magnusson's residual 5% stake, and took over the chairman's role.
On 8 June 2009 West Ham were taken over by asset management company CB Holding. Chairman Gudmundsson and vice-chairman Asgeir Fridgeirsson resigned from the club's board.
After the almost total collapse of the Icelandic banking system in 2008, Björgúlfur Guðmundsson was pointed out as one of the main players behind the Icelandic economic disaster in all Icelandic media including the Icelandic National Broadcasting Service (RUV) and all major newspapers.
With the demise of the Landsbanki and in the wake of the Icelandic financial crisis, the government of Iceland plans to investigate the actions of Björgólfur and others in what is called "The White Book".
Björgólfur Thor Björgólfsson
Björgólfur Thor Björgólfsson , known internationally as Thor Bjorgolfsson, is an Icelandic businessman and entrepreneur, and former chairman of the financial firm Straumur-Burðarás and chairman of investment firm Novator Partners.He has been declared "Iceland's first billionaire", and was ranked as...
being the first. He was ranked by Forbes magazine in March 2008 as the 1014th-richest person in the world, with a net worth of $1.1 billion. In December of the same year Forbes revalued his net worth to $0 and on 31 July 2009 he was declared bankrupt by the Icelandic courts with debts of almost £500 million (96 Billion ISK
Icelandic króna
The króna is the currency of Iceland. The króna is technically subdivided into 100 aurar , but in practice this subdivision is no longer used....
).
Björgólfur is former majority owner and ex-chairman of now nationalised Icelandic bank Landsbanki
Landsbanki
Landsbanki, also commonly known as Landsbankinn in Iceland, is a private Icelandic bank with international operations...
, the second largest company in Iceland. He is the father of Björgólfur Thor Björgólfsson.
Early life
He is married to Þóra Hallgrímsdóttir, ex-wife of George Lincoln RockwellGeorge Lincoln Rockwell
George Lincoln Rockwell was the founder of the American Nazi Party. Rockwell was a major figure in the neo-Nazi movement in the United States, and his beliefs and writings have continued to be influential among white nationalists and neo-Nazis.-Early life:Rockwell was born in Bloomington,...
, the founder of the American Nazi Party
American Nazi Party
The American Nazi Party was an American political party founded by discharged U.S. Navy Commander George Lincoln Rockwell. Headquartered in Arlington, Virginia, Rockwell initially called it the World Union of Free Enterprise National Socialists , but later renamed it the American Nazi Party in...
. Björgólfur is a former footballer, furniture packer and law student, a recovering alcoholic of 30 years and an old-fashioned philanthropist. In the 1990s he was sentenced to 12 months in prison, suspended for 2 years, for bookkeeping offences, having faced around 450 charges. He went to Russia
Russia
Russia or , officially known as both Russia and the Russian Federation , is a country in northern Eurasia. It is a federal semi-presidential republic, comprising 83 federal subjects...
, remade his fortune and returned to Iceland, where he also has interests in shipping, publishing, food, communications and property.
Beverage businessman in Saint Petersburg
Björgólfur Guðmundsson co-founded Bravo Brewery with Magnús ÞorsteinssonMagnús Þorsteinsson
Magnús Þorsteinsson is a businessman and chairman of Avion Group. He was a high profile investor and entrepreneur with interests in aviation and financial services.-Beverage businessman in Saint Petersburg:Magnús began his investments in St...
chairman of Avion Group
Avion Group
Hf. Eimskipafélag Íslands is a large Icelandic investment company, focused on investments in the transportation industry. The company was formed on January 1, 2005, from several long standing companies. In 2005, Eimskipafélag Íslands was ranked the second fastest growing business in Europe by the...
and his son. Bravo Brewery became a success and they later sold the venture to Heineken
Heineken
Heineken is a Dutch beer which has been brewed by Heineken International since 1873. It is available in a 4.6% alcohol variety in countries such as Ireland. It is the flagship product of the Heineken company and is made of purified water, malted barley, hops, and yeast. In 1886 H...
for $400 million which they invested both in Iceland and abroad.
Danish journalists noted that in St. Petersburg, the Committee on External Economic Relations in Saint Petersburg's Mayor's office was responsible for foreigners in Saint Petersburg. The committee's chairman was Vladimir Putin
Vladimir Putin
Vladimir Vladimirovich Putin served as the second President of the Russian Federation and is the current Prime Minister of Russia, as well as chairman of United Russia and Chairman of the Council of Ministers of the Union of Russia and Belarus. He became acting President on 31 December 1999, when...
.
The Icelandic businessmen, together with Russian partners, founded a bottling company
Bottling company
A bottling company is a commercial enterprise whose output is the bottling of beverages for distribution.Many bottling companies are franchisees of corporations such as Coca-Cola and PepsiCo who distribute the beverage in a specific geographic region...
Baltic Bottling Plant, which was sold to Pepsi. They moved to brewing and founded a brewing company Bravo International OOO in August 1996 which became Bravo International JSC in December 1997. Bravo Brewery became a success on the premium beer Botchkarov.
In 2005 an article in The Guardian wondered where the Icelandic money comes from and noted that in the 1990s the three Icelandic businessmen "were not only ploughing money into the country but doing it in the city regarded as the Russian mafia
Russian Mafia
The Russian Mafia is a name applied to organized crime syndicates in Russia and Ukraine. The mafia in various countries take the name of the country, as for example the Ukrainian mafia....
capital. That investment was being made in the drinks sector, seen by the mafia as the industry of choice." Competitors in the St. Petersburg brewing market faced problems. Ilya Weismann, deputy director of competing beverage company Baltic, was assassinated on January 10, 2000. Soon afterwards Baltic director general Aslanbek Chochiev was also assassinated. One competing St Petersburg brewery burned to the ground.
The company to became the fastest growing brewery in Russia. Heineken
Heineken
Heineken is a Dutch beer which has been brewed by Heineken International since 1873. It is available in a 4.6% alcohol variety in countries such as Ireland. It is the flagship product of the Heineken company and is made of purified water, malted barley, hops, and yeast. In 1886 H...
bought the extraordinarily successful brewery for $400m in 2002.
New businesses
He became an owner of LandsbankiLandsbanki
Landsbanki, also commonly known as Landsbankinn in Iceland, is a private Icelandic bank with international operations...
.
Björgólfur has been a keen football
Football (soccer)
Association football, more commonly known as football or soccer, is a sport played between two teams of eleven players with a spherical ball...
fan for years and led the consortium which bought the English Premier League football club West Ham United. He bought 90% of the club himself and became the club's Honorary Life President in June 2006, alongside Eggert Magnússon
Eggert Magnússon
Eggert Magnússon is an Icelandic businessman and former President of the Football Association of Iceland and ex-chairman of West Ham United...
who became Chairman. In December 2007, Björgólfur bought out Magnusson's residual 5% stake, and took over the chairman's role.
On 8 June 2009 West Ham were taken over by asset management company CB Holding. Chairman Gudmundsson and vice-chairman Asgeir Fridgeirsson resigned from the club's board.
After the almost total collapse of the Icelandic banking system in 2008, Björgúlfur Guðmundsson was pointed out as one of the main players behind the Icelandic economic disaster in all Icelandic media including the Icelandic National Broadcasting Service (RUV) and all major newspapers.
With the demise of the Landsbanki and in the wake of the Icelandic financial crisis, the government of Iceland plans to investigate the actions of Björgólfur and others in what is called "The White Book".