He was the son of Vice Chancellor Michael Madsen Wibe (1627–1690) and Margrethe Catharine Reimer (1643–1683).

[2][3] He finished his formal education with an extended journey abroad, returning to Denmark in 1695.

In 1704 he accompanied King Frederick IV of Denmark-Norway on a tour of Norway during the Great Northern War.

Vibe served as an adviser to the king and was in 1708 appointed to the Privy Council; later that year he became a member of the national government.

Since 1690, Vibe had also owned Freidenfelde Manor in the Duchy of Holstein and in 1725 he became the owner of Barony Rosendal in Hardanger.