He graduated with a degree in Business Administration from the University of Iceland in 1983 and became a Chartered Accountant in 1985.
Then in 2006 he was chosen as the new CEO of Icelandic Group, a global sales and marketing company for frozen fish products.
[8] The 2008–2012 Icelandic financial crisis proved a great challenge for Björgólfur[9] and his staff but after a financial reconstruction of the company, completed in 2011, he insisted the future looks bright, as the rise in tourism in Iceland bodes well for the company.
[16] On 14 November, following the bribery scandal allegations in the Fishrot Files, the board of Samherji announced that Þorsteinn Már Baldvinsson had temporary stepped aside as CEO and would be replaced by Björgólfur while the company conducted an internal investigation on the allegations.
[17] Björgólfur is married to teacher Málfríður Pálsdóttir and they have two daughters born in 1990–91 and two grandchild's.