OSLO (Bloomberg) – John Fredriksen, the largest shareholder in Frontline Ltd., remained the wealthiest person in Norway this year with a fortune of 46.1 billion kroner ($8 billion), magazine Kapital said.

Mr. Fredriksen, who became a citizen of Cyprus three years ago, saw the value of his assets drop from 54.9 billion kroner in 2008 as the global recession sapped demand for transportation and oil services. Mr. Fredriksen, 65, is the biggest owner in Frontline, the world's largest supertanker company, as well as oilrig operator Seadrill Ltd., both Bermuda-registered companies.

Mr. Fredriksen is more than twice as wealthy as the runner-up in the survey, the 86-year-old real estate developer Olav Thon, worth 18.6 billion kroner.