He was the son of King Magnus Barefoot and Sigrid, daughter of Saxe of Vik.

[2] Olav became king together with his half-brothers Sigurd Jorsalfar and Øystein Magnusson when his father Magnus Barefoot died in 1103.

He was king of Norway for twelve years, but unlike his brothers he did not leave a lasting impression on the nation.

During this period, King Øystein served as regent for his brother, using his energy and willpower to create a strong and stable country.

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