Torstein Hagen
Torstein Hagen | |
|---|---|
| Born | 1943 Norway |
| Occupation | Entrepreneur |
| Years active | 1974–present |
| Known for | Founder and Chairman of Viking Cruises |
Torstein Hagen (born 1943) is a Norwegian billionaire entrepreneur, recognized as the Founder and Chairman of Viking Cruises.
Early life and education
Originally from Norway, Hagen completed a degree in physics at the Norwegian Institute of Technology, where his master's thesis focused on artificial intelligence and machine learning. He was awarded a Fulbright scholarship to pursue studies in the United States, earning an MBA from Harvard Business School in 1968.
Initial cruise industry involvement (1974–1996)
Hagen started his professional journey as a consultant and later became a partner at McKinsey & Company in Europe. In 1974, he played a key role in rescuing Holland America Line from financial distress. He was appointed CEO of Bergen Steamship Company in 1976 and subsequently led Royal Viking Line as CEO between 1980 and 1984. After an unsuccessful attempt to take over the company, he stepped down in 1984. The following year, he joined the board of Holland America Line and also served on the board of Kloster Cruise. During the early 1990s, Hagen acquired a 27% ownership stake in Rotterdam-based shipping firm Nedlloyd, becoming its largest shareholder before eventually divesting his shares at a loss several years later.
Viking Cruises (1997–present)
In 1997, Hagen established Viking River Cruises by purchasing four river vessels, initially focusing on cruises along Russian waterways. The company primarily caters to English-speaking travelers aged over 55, especially Americans, and operates more than 70 river cruise ships across Europe's major rivers. Viking expanded into ocean cruising in May 2013, rebranding as Viking Cruises and launching its first ocean voyage in 2015. By 2016, Hagen sold a 23% interest to TPG Capital and the Canada Pension Plan Investment Board for $672 million. As of 2017, Viking's fleet comprised over 60 river vessels alongside four ocean-going ships. In early 2020, Viking announced its entry into expedition cruising, scheduling inaugural journeys to Antarctica and North America's Great Lakes in January 2022, with additional expeditions planned for Antarctica and the Arctic later that year, including the introduction of its first purpose-built expedition ship.
Personal life
Hagen resides in Lucerne, Switzerland; he is divorced and has two children. His daughter Karine Hagen holds a role within Viking River Cruises.