[1][2] He became Norwegian champion in team handball with the club SK Arild in 1964, and played for the Norwegian national team at the 1964 World Men's Handball Championship.

[2] He started his career as a researcher at the Institute of Transport Economics upon his return to Norway.

[2] He founded the business magazine Kapital in 1971, which became known for its revealing market news from anonymous writers (often student friends of Hegnar).

[2] According to Hegnar, he made his first million NOK in 1976, which he used on the short-lived failed tabloid paper Blikk in 1977.

[2] In 1992 Hegnar used his 26 million NOK profits from selling his shares in Dagens Næringsliv to establish his own rival business newspaper Finansavisen.