The Norwegian top skier lives on virtually no income and works part-time for a relative who made more than €110 million last year.

Mattis Stenshagen is one of Norway’s best cross-country skiers, yet he earns almost nothing from the sport. To finance his career, he works part-time for a distant relative who is among Norway’s wealthiest individuals. The relative in question is former rallycross star Egil Stenshagen, who reported a pre-tax profit of about €111 million in 2024.

The 78-year-old made his fortune in car import, wheels, and tire sales in the early 2000s before selling out of those businesses in 2012. Since then, he has focused primarily on investments. According to Kapital, Egil Stenshagen has an estimated net worth of €442 million, ranking him among the top 100 wealthiest people in Norway.

“We first and foremost have to thank the companies we’re fortunate to be invested in. Share prices rise because they perform well. And I have great people around me,” Stenshagen says, pointing to his son Jørgen, Kjetil Garstad, and part-time employee — and elite skier — Mattis Stenshagen.

The 29-year-old, who skis for the private team Team Swix, works for the multi-millionaire during the summer. The job involves stock trading, which is the core activity of Stenshagen’s investment company.

“We’re not very close relatives, but we stay in touch,” the skier told Iltalehti.

“Work is an important part of my income, and this part-time job finances my skiing. It’s tough to be a cross-country skier in Norway if you’re not on the national team,” he adds.

“I earn very little from skiing. But if I ski fast in the World Cup, I earn a bit extra.”

When asked how much of the company’s €111 million profit he receives, Stenshagen laughs:

“Zero. That’s not my money. I just work there.”

“The business is doing well,” he adds, “The guys in the office are happy.”

During the Ruka season opener, Stenshagen raced all three events, finishing seventh in Friday’s 10km classic, 29th in Saturday’s sprint, and seventh again in Sunday’s 20km freestyle mass start. The two seventh places earned him €5,600, about 66,000 NOK.

Spark for finance

The job with his wealthy relative means a lot to Stenshagen, and after his ski career, he hopes to continue working in finance.

“I try to learn as much as I can and ask questions all the time,” he says.

He studies alongside training and follows the stock market in his free time.

Popular among skiers

He isn’t the only Nordic athlete who loves the markets: Norwegian biathlete Vetle Sjåstad Christiansen invests actively, and Swedish star Edvin Anger is also profoundly interested in stocks — though with mixed results.

Also Read – Color-coded closets and stock market breaks: inside the life of a perfectionist biathlete

Olympics first, stock market second

Despite his growing passion for finance, Stenshagen’s complete focus remains on skiing. Known for extreme discipline — including self-imposed isolation over Christmas to avoid illness — he has trained more and harder than ever this summer.

“I really want to achieve something. I’ve trained over 110 hours per month. It’s brutal, but I think this season will be fantastic.”

After an encouraging start in Ruka, he now prepares for the next World Cup round in Trondheim from December 5 to 7, where three Olympic events are on the program. Stenshagen will race all of them.

Read More: Norwegian national team for the Trondheim World Cup

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