How Did Torstein Hagen Make His Money?

Torstein Hagen’s Profile Summary

Company	Viking Cruises
Position	Chairman and Chief Executive Officer
Source of wealth	Cruise industry
Also known as	Tor
Age	82
Education	MBA, Norwegian Institute of Technology; Harvard Business School
Citizenship	Norway
Residence	Lucerne, Switzerland
Family	Divorced; 2 children
Website, Social Media	https://www.viking.com https://www.viking.tv/my-viking/torstein-hagen

Torstein Hagen’s biography

Torstein Hagen, born in 1943 in Norway, is a prominent figure in the cruise industry, renowned for founding Viking Cruises. He earned a degree in physics from the Norwegian Institute of Technology, completing his master's thesis on artificial intelligence and machine learning. Subsequently, he received an MBA from Harvard Business School in 1968.

Hagen's career commenced at McKinsey & Company in Europe, where he played a pivotal role in revitalizing the Holland America Line in 1974. By 1976, he became CEO of Bergen Steamship Company, and in 1980, he assumed the role of CEO at Royal Viking Line. After a failed takeover bid, he resigned in 1984. In the early 1990s, Hagen acquired a 27% stake in Nedlloyd, a Rotterdam-based shipping company, becoming its largest shareholder, though he later sold his shares at a loss.

In 1997, Hagen founded Viking River Cruises with the purchase of four river ships, focusing on destination-centric and culturally immersive travel for English-speaking travelers over 55, particularly Americans. The company expanded its fleet to over 70 river cruise ships, primarily navigating Europe's major waterways. In 2015, Viking launched its ocean cruise division, further broadening its offerings. By 2016, Hagen sold 23% of Viking Cruises to TPG Capital and the Canada Pension Plan Investment Board for a total of $672 million. In May 2024, Viking went public on the New York Stock Exchange, raising more than $1.5 billion.

Under Hagen's leadership, Viking has become a significant player in the cruise industry, catering to affluent, mature travelers seeking culturally enriching experiences. As of 2023, Viking serviced 650,000 guests and reported revenue of $4.7 billion.

How did Torstein Hagen make money?
Torstein Hagen's journey to becoming a billionaire is marked by strategic leadership and innovation in the cruise industry. After earning an MBA from Harvard Business School, he began his career at McKinsey & Company, where he contributed to revitalizing the Holland America Line. His leadership roles as CEO of Bergen Steamship Company and later Royal Viking Line provided him with extensive experience in maritime operations.

In 1997, Hagen founded Viking River Cruises, starting with four riverboats in Russia. His vision was to offer destination-focused and culturally immersive travel experiences tailored to English-speaking travelers over 55, especially Americans. This niche focus allowed Viking to differentiate itself in the market, leading to significant growth. The company expanded its fleet to over 70 river cruise ships, primarily traversing Europe's major waterways.

Recognizing the potential for further expansion, Hagen launched Viking's ocean cruise division in 2015, introducing 930-passenger ships that maintained the company's emphasis on cultural enrichment. This strategic move diversified Viking's offerings and attracted a broader clientele. In 2016, Hagen sold 23% of Viking Cruises to TPG Capital and the Canada Pension Plan Investment Board for $672 million, indicating the company's substantial valuation. In May 2024, Viking went public on the New York Stock Exchange, raising more than $1.5 billion, further increasing Hagen's wealth.

As of 2023, Viking serviced 650,000 guests and reported revenue of $4.7 billion, reflecting the company's robust performance under Hagen's leadership.
What is Torstein Hagen net worth?

As of 2025, Torstein Hagen’s net worth is estimated to be $11.3 B.

What is Torstein Hagen also known as?

Torstein Hagen is often referred to as "Tor," a common diminutive of his first name, especially within professional circles and among colleagues.

Prominent achievements of Torstein Hagen

Torstein Hagen founded Viking Cruises in 1997, expanding it into a leading river and ocean cruise company with a fleet of over 70 vessels. Under his leadership, Viking went public in May 2024, raising over $1.5 billion, and reported revenue of $4.7 billion in 2023.

What are Torstein Hagen’s key insights?

Torstein Hagen emphasizes a focus on culturally immersive and destination-centric travel experiences, catering to mature, English-speaking travelers. His approach prioritizes quality over quantity, aiming to provide enriching journeys that resonate with his clientele's interests.

Torstein Hagen’s personal life

Torstein Hagen was married to Ellen-Karine Hagen; they divorced in 2017. They have two children, one of whom, Karine Hagen, is actively involved in Viking Cruises.

Useful insights

Leading with purpose and integrity

To achieve long-lasting success, leading with integrity and purpose is crucial. Mary Barra, CEO of General Motors, demonstrates how strong leadership can propel you forward in your career or business.

Define your purpose and align it with your goals

Mary Barra emphasizes the importance of having a clear purpose. Identify your core values and ensure that your actions align with these values. This will give you the clarity and motivation needed to succeed, especially in challenging times.
Adapt to innovation and stay flexible

Barra's success is tied to her ability to guide GM through a transition toward electric vehicles. Always be open to innovation and stay flexible when markets or industries change. Adaptability is a key trait for anyone aiming to succeed.
Empower those around you

Successful leaders know how to empower their teams. By trusting and supporting the people around you, you create a culture of accountability and innovation. Help others succeed, and you’ll find that success naturally follows you as well.