Norwegian investor Frederik Wilhelm Mohn’s investment firm, Perestroika, turned a massive loss into a 471 million krone net profit in 2025, driven by strong returns on financial positions and strategic bets in the offshore rig and residential real estate sectors, according to annual financial statements reported by E24.
From Two Billion in Red Ink to Black Figures
In 2024, Perestroika absorbed a bruising net loss of 1,91 billion kroner, with a pre-tax result plunging to minus 1,98 billion kroner. Fast forward to the close of 2025, and the balance sheet tells a radically different story. Pre-tax profit landed at 507 million kroner, yielding a net annual result of 471 million kroner, as documented in official corporate filings.
The primary engine behind this recovery wasn’t core operational revenue from startups, but rather a massive swing in financial items. Net financial positions catapulted from minus 2,22 billion kroner in 2024 to a positive 253 million kroner last year. Simultaneously, asset return rates climbed to 307 million kroner, up from 267 million kroner the preceding year.
Heavy Bets on Offshore Drilling and Real Estate Consolidation
Mohn’s investment strategy leans heavily into cyclical capital assets, most notably offshore drilling fleets. Perestroika’s single largest equity stake remains Transocean. At the turn of the year, those shares were booked at roughly 4,1 billion kroner, cementing Perestroika as Transocean’s largest shareholder with an 8.7 percent ownership stake at the end of 2025. Mohn also holds a seat on the rig company’s board of directors.
Earlier in the year, Transocean merged with Valaris, a company controlled by John Fredriksen. Following that transaction, Mohn and Fredriksen each control approximately five percent of the combined entity.
Capital deployment extended further into maritime infrastructure. In the spring of 2025, Perestroika acquired over 8,2 million new shares in Shelf Drilling at 5.62 kroner per share. Later in the year, Shelf Drilling consolidated with ADES, a Saudi Arabian rig company, resulting in a cash settlement of 18.50 kroner per share for participating stockholders, according to the annual report.
Expanding Residential Exposure
Beyond high-beta maritime assets, Mohn increased his exposure to the residential property market. Perestroika picked up 200.000 new shares in JM, a Stockholm-listed company, while simultaneously boosting its equity stake in Selvaag Bolig.
Reflecting the healthier balance sheet, the board proposed a combined ordinary and supplementary dividend payout totaling 107 million kroner. Additionally, nearly 17 million kroner has been allocated for gifts.
Frederik Wilhelm Mohn, son of well-known investor Trond Mohn, commands a personal net worth estimated at 5,75 billion kroner by Kapital.
