2022 Top 10 Richest People in Faroe Islands

This article outlines the 2022 top 10 Richest People in Faroe Islands. For some reasons reserved by Topmost10, their net worth cannot be shown. The list of richest people in Faroe Islands contains business leaders and politicians who run the affairs of the country. 

2022 Top 10 Richest People in Faroe Islands

10. Anfinn Kallsberg

Aksel Vilhelmsson Johannesen

Anfinn Kallsberg is a Faroese politician, former prime minister, and the former leader of the People’s Party. First elected to the Faroese parliament in 1980 and consecutively since then, Kallsberg served as Fisheries Minister from 1983 to 1985 and for 5 months in Jógvan Sundstein’s first coalition government in 1989, and as Economics and Finance Minister from 1996 to 1998 in a coalition led by Edmund Joensen (Union Party).

He was Speaker of the Løgting 1991–1993.

Kallsberg became Prime Minister of the Faroe Islands on 15 May 1998 in a coalition formed by the People’s Party, Republican Party and the Self-Government Party. His first administration aimed for economic and legal independence of the Faroe Islands and started a process of assuming various governmental sectors from the Danish government. Likewise, Denmark set up a plan to grant full sovereignty to the Faroe Islands. In 2002 the coalition went through parliamentary elections that resulted in the entry of the Center Party into the government, which was the second cabinet of Anfinn Kallsberg.

In December 2003, Kallsberg took over the ministries previously served by members of the Republican Party and issued a new election that took place in January 2004. In 2005 Kallsberg was elected as one of two Faroese citizens to represent the islands in the Danish Parliament.


9. Jóannes Dan Eidesgaard

Jóannes Dan Eidesgaard (born 19 April 1951) is a former Faroese politician. He was the Prime Minister of the Faroe Islands from 2004, starting shortly after the general election of 20 January 2004, until 26 September 2008, when a new coalition took office.

He served as Finance Minister from 1996 to 1998 and again from 2008 to 2011. He was a member of the Danish Folketing representing the Faroe Islands from 11 March 1998 until 20 November 2001.


8. Henrik Old

Henrik James Frits Old is a Faroese politician. He is a current (2011-2015) member of the Faroese parliament. He was elected for the Løgting for the first time in 1984.

He was re-elected several times and represented the island Suðuroy. He was elected for the Social Democratic Party (Faroe Islands). He was a MP from 1984 to 2008 and again from 2011.


7. Kaj Leo Holm Johannesen

Kaj Leo Holm Johannesen is a Faroese politician. He was the prime minister of the Faroe Islands, representing the Faroese Unionist Party (Sambandsflokkurin). He took office, succeeding Jóannes Eidesgaard on 26 September 2008 and left office on 15 September 2015, after his party and coalition with Fólkaflokkurin and Miðflokkurin lost the general election on 1 September 2015.

Johannesen is also a former international football player; he was goalkeeper for the Faroe Islands national football team.

In the Faroese parliamentary elections, held on 29 October 2011 Kaj Leo Johannesen received 1979 personal votes. This is the largest number of personal votes ever given to a Faroese parliament candidate.

He held this record until the general election 2015, when Aksel V. Johannesen received 2405 personal votes. At the same election Kaj Leo Johannesen received 603 personal votes.


6.Jørgen Niclasen

Jørgen Niclasen is a Faroese politician. He has been the leader of the Faroese People’s Party (Fólkaflokkurin) since 2007.

On 2 October 2008, he was officially appointed Kaj Leo Johannesen’s Deputy Prime Minister, which he was until the Faroese parliamentary election, 2011. He was reelected and became the Minister of Finance in the Cabinet of Kaj Leo Johannesen II.


5. Poul Johan Sundberg Michelsen

Poul Johan Sundberg Michelsen (born 22 July 1944 in Tórshavn) is a Faroese business man and politician, the leader of Progress (Framsókn), which he and others established in 2011. Earlier he was a member of People’s Party (Fólkaflokkurin).

Michelsen grew up in Tórshavn and was active in sports. He was apprenticed as a commercial trainee at the Balslev company, which today is called Bygma-Balslev. Later, Kartni Winther and Torbjørn Sørensen bought the wholesale from Balslev and named it Kartni Winther.

It was run by Kartni Winther, Torbjørn Sørensen and Poul Michelsen until Michelsen started his own whole sale business in 1974. Michelsen has been Finnish Consul General in the Faroe Islands since 2001. In January 2015 he was appointed the Commander of the Order of the Lion of Finland


4. Páll á Reynatúgvu

Páll á Reynatúgvu is a Faroese politician, and former football player, currently serving as speaker of the Faroese Parliament. He was first elected in 1998, and again in 2002, when he assumed the position of Minister of Health and Social Affairs. After being re-elected in 2004, he became a member of the “Fíggjarnevndin” (Financial Committee of the Løgting).

At the 2008 parliamentary elections á Reynatúgvu was not re-elected, but sat in parliament when Anita á Fríðriksmørk took maternity leave, and as his party was a part of the Landsstýri, he was next on the list to get a seat in the parliament. Before Páll á Reynatúgvu was elected for the Løgting in 2011, he was president of the SEV, which provides the Faroe Islands with electricity.

He had to quit this job, because the Faroese law does not allow a person to be a member of the Løgting and at the same time to be a member of a governmental owned institution or company.


3. Høgni Karsten Hoydal

Høgni Hoydal, is a Faroese politician, who is the current Minister of Fisheries and deputy prime minister. He has been the party leader of Tjóðveldi since 1998.

Høgni Hoydal was a reporter of the Faroese national television station, Kringvarp Føroya, for some years prior to his election to the Faroese parliament in 1998.

In 2001, he was elected as one of the two Faroese members of the Danish Folketing. He was re-elected in 2005 and re-elected again in 2007; but in the 2011 election lost the party’s only Folketing seat to the Social Democrats’ Sjúrður Skaale


2.Aksel Vilhelmsson Johannesen (Faroe Islands)

Faroe Islands

Aksel Vilhelmsson Johannesen is a Faroese lawyer and politician for the Social Democratic Party (Javnaðarflokkurin) and a former footballer. He served as the prime minister of the Faroe Islands from 2015 to 2019.

He is educated Master of Law from the University of Copenhagen in 2004, and worked as a lawyer in Tórshavn from 2007 until he became an active politician. He is former president of the football club of Klaksvík, Klaksvíkar Ítróttarfelag, where he used to play football in his youth.  


1. Bárður á Steig Nielsen

Aksel Vilhelmsson Johannesen
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Bárður á Steig Nielsen  is a Faroese politician and businessman. He has been the leader of the Union Party since 24 October 2015. He is also goalkeeper of the VÍF handball team and a former handball player of the Faroe Islands national team.

He started his business career as an employee in the accountancy firm Rasmussen og Weihe in Tórshavn 1993–2000. From 2001 to 2004 he was employed as the chief Accountant at the Kollafjord Pelagic in Kollafjørður. In 2007 he left his position as the Finance Minister of the Faroe Islands in order to become the general manager of the large scale building project SMI Stóratjørn in Hoyvík, planned by Icelandic business people.

The project was never implemented because of the Financial crisis of 2007–08, á Steig Nielsen was employed there until February 2009. From 2009–2010 he was the general manager of a machine shop in Hoyvík 2009–2010. From 2010 he was the CFO of the telephone company Vodafone Føroyarin Tórshavn.

He has been the board member of the Vágar Airport, Kollafjord Pelagic and of a few other trading companies in Tórshavn.