News
No More Billionairs In Iceland

No More Billionairs In Iceland

Published March 21, 2013

There are no more billionaires in Iceland, with all the pre-crash billionaires having either lost or exported their wealth, RÚV reports.
Back in the roaring days of 2007 and thereabouts Iceland claimed six (US dollar) billionaires, in an economy worth about $13 billion, according to Bloomberg.
Among the billionaires to lose it all are Björgólfur Guðmundsson, former chairman and owner of west Ham united FC, and former majority owner and chairman of Landsbanki; and former Baugur Group head honcho recently handed  a suspended sentence for accounting fraud, Jón Ásgeir Jóhannesson. Both men filed for bankruptcy in 2009.
The only Icelander still to be considered a billionaire is Björgólfur’s son and Iceland’s original billionaire, Björgólfur Thor Björgólfsson who, despite playing a role in the financial collapse, was able to escape with $1 billion in tact. He resides in the UK.



News
Woes Pile Up At Hótel Adam

Woes Pile Up At Hótel Adam

by

The hotel that made headlines earlier this week has been operating in violation of labour law, amongst other abuses. As

News
Unemployment Reaches New Low

Unemployment Reaches New Low

by

Unemployment continues its decline from last year, though jobless rates varied across different regions of the country. RÚV reports that

News
Foreigners Reportedly Responsible For Increased Pork Consumption

Foreigners Reportedly Responsible For Increased Pork Consumption

by

The most likely explanation for the swift increase of pork consumption in Iceland: foreigners, supposedly. Kjarninn reports that pork consumption

News
Human Rights Office Supports Shorter Work Week

Human Rights Office Supports Shorter Work Week

by

The Icelandic Human Rights Centre (IHRC) is in favour of shortening the full-time work day from eight hours to seven,

News
PM Learned Of US Navy Plans From The News

PM Learned Of US Navy Plans From The News

by

Prime Minister Sigmundur Davíð Gunnlaugsson says he welcomes increased US Navy activity in Iceland, and first learned about their plans

News
Falcon Destroys And Eats Starling – VIDEO

Falcon Destroys And Eats Starling – VIDEO

by

The bird of prey was photographed and filmed making short work of a common starling. Þórarinn Einarsson was in the

Show Me More!