1,000 people own almost all the equity of individuals in the Icelandic economy and more than half of the total equity in Icelandic companies belongs to 50 people. These are among the conclusions from an investigation made by Creditinfo for the Morgunbladid Business Magazine, published today. The said 1,000 people own a total of over 98 percent of the equity in the corporate economy, owned by individual investors.
In other words, 0.3 per cent of the population owns almost all Icelandic companies, “except for institutional investors,” as stated in the report, but institutional investors refers to pension funds, government, banks and other such parties. This property amounts to about 1,200 billion kronas. It is stated that only individuals, non-joint property of married couples or families, are included.
However, this is not the whole story, because of these 1,000, – ten (10) of the wealthiest own almost one-third of the total private equity’s, or nearly 400 billion kronas.