Cyprus makes an appearance on the Forbes 2025 list of billionaires thanks to John Fredriksen, a Norwegian-born shipping magnate who became a Cypriot citizen in 2006. With an estimated net worth of $17 billion, the 80-year-old ranks 119th among the world’s richest individuals. Though he resides in London, much of his business activity remains centered in Oslo.

Fredriksen built his fortune in the shipping and energy sectors, beginning with oil trading in Beirut during the 1960s. He bought his first tankers in the 1970s and later expanded into crude oil transport for Iran. His business empire today includes oil tankers, LNG carriers, dry bulk ships, and deep-sea drilling. He is also a major investor in aquaculture, owning a significant share in MOWI, the world’s largest fish farming company, and holds a stake in Norwegian Air.

Before giving up his Norwegian citizenship, Fredriksen was Norway’s wealthiest man. Over the years, he has appeared on multiple influential lists, including Bloomberg Markets and Lloyd’s List.

Topping this year’s Forbes list is Elon Musk, with an estimated fortune of $342 billion. The U.S. dominates the top rankings, with only two non-Americans among the wealthiest: Spain’s Amancio Ortega ($124 billion), founder of Zara’s parent company Inditex, and France’s Bernard Arnault ($178 billion), head of the LVMH luxury group.

Other notable names include Egyptian billionaire Nassef Sawiris, ranked 289th with $9.6 billion. Known for investing in Cyprus, especially in Ayia Napa’s marina development, Sawiris derives his wealth from construction and investment ventures.

Greece is represented by Maria Angelicoussis, age 43, who ranks 418th with a $7.6 billion fortune from the shipping industry.

Pop star and entrepreneur Rihanna also features on the list. At 37, she ranks 2,356th with $1.4 billion in wealth, thanks to her music career and cosmetics brand Fenty Beauty.