World's second-youngest billionaire, 22, gets £23,000 drink-driving fine in Norway where penalty is based on income

The world's second youngest billionaire has been fined £23,000 for drink-driving, but it could have been even worse.

Katharina Andresen, 22, was caught over the limit in Norway where fines are based on the income.

Andresen, whose father Johan transferred 42 per cent of his hedge fund to her and her 20-year-old sister Alexandra, is worth an estimated $1.23 billion, according to Forbes.

The Andresen family have been a household name in Norway for more than a century.

Johan made his fortune in the tobacco industry but sold his share in the business for $480million (£363million) in 2005 and now runs the Ferd investment company.

According to Norwegian business newspaper Finansavisen, Katharina was three times over the drink-drive limit when she was stopped near the family's luxury cabin in the Hafjell ski resort.

She was banned from driving for 13 months and fined 250,000 kroner (around £23,000).

But a judge warned it could have cost her even more.

 

He said if the case had been based on "a normal return of assets" she would have been fined between 35-40million Kroner.

The court heard Katharina is a student and gets a monthly 'salary' of 9,000 kroner (around £825).

She told Finansavisen in a text she thought she had waited enough time to drive after drinking.

"I should have checked - I'm really sorry," she added.

Source: Mirror