Sweden has more megarich people than ever – here’s the top 25
Collage (Andrew Burton, Getty / Tomas Oneborg/SvD/TT)

Clockwise from top left: Daniel Ek, Spotify co-founder; Karl-Johan and Stefan Persson of H&M; Antonia Ax:son Johnson of Axel Johsnon AB; Ingvar Kamprad, Ikea founder.
Collage (Andrew Burton, Getty / Tomas Oneborg/SvD/TT)
Swedish business magazine Veckans Affärer each year compiles a list of the country’s billionaires in Swedish krona (1 billion SEK equals roughly $120 million USD).

There’s now a record 187 Swedish billionaires – double the amount since 2002 – of which around 40 have amassed fortunes exceeding a billion dollars.

This year’s list was increasingly made up of tech executives like Spotify co-founder Daniel Ek and Klarna’s founders Sebastian Siemiatkowski and Niklas Adalaberth.

However, the very top largely belongs to the founding families of iconic Swedish companies like Stena Group, Ikea, H&M and Tetra Laval – all founded between 1939 and 1951.

Here are the 25 richest people of Sweden and how they made their money.

25. Madeleine Olsson-Eriksson ($1,85 bn) is the firstborn of iconic shipping magnate Sten A. Olsson.


Net Worth: 15 billion SEK ($1,85 bn)

Source of wealth: Stena Group (shipping)

Residence: Gothenburg

The 72-year old owes her fortune to Stena Line, one of the largest ferry operators in the world and part of Stena Group. Madeleine Olsson-Eriksson used to be a practicing gyanecologist, and is today active in philantropy through the fund set up in her father’s name, the Sten A. Olsson Foundation for Research and Culture.

24. Spotify co-founder Martin Lorentzon ($2 bn) belongs to the hall of fame of Swedish tech.

Emma-Sofia Olsson / SvD / TT

Net Worth: 16 billion SEK ($2 bn)

Source of wealth: Spotify (music streaming)

Residence: Stockholm

After renegotiated deals with record label giants, Spotify’s value has roughly doubled over the past year. The company is expected to list on the NYSE any moment now.

Lorentzon is one of the most prolific startup founders in Sweden, but also knows the corporate world: he sits on the board of Telia, Sweden’s largest telco.

Together with Spotify’s co-founder Daniel Ek, the 48-year old has been a vocal critic of the Swedish government’s policies with regards to tech companies, including their restrictions on employee stock option plans.

23. Spotify CEO Daniel Ek ($2 bn) was a computer geek from Stockholm’s suburbs before founding his music streaming giant.

Andrew Burton / Getty

Net Worth: 16 billion SEK ($2 bn)

Source of wealth: Spotify (music streaming)

Residence: Stockholm

The 34-year-old heads one of the world’s best-known tech companies, music streaming giant Spotify. Ek’s wealth gain is based on Spotify’s value surge in the past year – to $19 bn – in anticipation of a direct listing of shares on the NYSE, which is said to be underway.

Ek is the second-richest person in Swedish tech, trailing only Mojang co-founder Markus Persson (#18).

22. Charlotte Söderström ($2,1 bn) is an H&M heir.

Charlotte SöderströmNet Worth: 17 billion SEK ($2,1 bn)

Source of wealth: H&M (fashion)

Residence: Stockholm

More than 70% of fast fashion H&M belongs to the founding family, and that means many wealthy people.

One of them is Charlotte Söderström, who is currently a board member of the charity Erling-Persson Family Foundation. Söderström is also an avid equestrian, and owns the Olympic Silver-medalist (2016) horse H&M All in.

21. Tom Persson ($2,1 bn) is the grandson of H&M’s founder and loves film.

Net Worth: 17 billion SEK ($2,1 bn)

Source of wealth: H&M (fashion)

Residence: Stockholm / London

Tom Persson is the brother of the retailer’s CEO, Karl-Johan. The 32-year old is a graduate of London’s Met Film School and works in the film industry.

Tom Persson’s wealth has – like his four relatives also featured in the top 25 – likely dipped after H&M’s stock crashed last month.

20. H&M CEO Karl-Johan Persson ($2,1 bn) owns a big part of the company he is trying to turn around.

TT / Henrik Montgomery
H&M’s CEO Karl-Johan Persson at the head office in Stockholm.

Net Worth: 17 billion SEK ($2,1 bn)

Source of wealth: H&M (fashion)

Residence: Stockholm

Karl-Johan Persson continues his efforts to renew an ailing H&M – having recently launched high-end store chain Arket and readying the online brand /Nyden.

In recent years, Persson, 42, has privately started investing in Swedish e-commerce companies like Pricerunner and Fyndiq. Through H&M Foundation, he is also investing in fashion tech startups to help push his clothing retailer – part of the world’ second-dirtiest industry after oil – in a more sustainable direction.

19. Commodity magnate Torbjörn Törnqvist ($2,1 bn) hit a rough patch this year.

Torbjörn Törnqvist
TT / Eric Risberg

Torbjörn Törnqvist is an avid sailor.

Net Worth: 17 billion SEK ($2,1 bn)

Source of wealth: Gunvor Group (commodities, oil)

Residence: Genève

Törnqvist is the co-founder and CEO of Gunvor, one of the largest commodities group’s in the world. The 63-year old has since cut ties with his business partner, Russian native Gennady Timchenko.

A controverisal oil smuggling scheme in Belarus that Törnqvist and Gunvor were involved with according to SVT, saw him recently lose his position as Sweden’s Honorary Consul of Switzerland. Gunvor has denied any wrongdoing.

Törnqvist, an avid sailor, is the founder and principal of Artemis Racing, a professional sailing team which participates in America’s Cup.

18. Mojang co-founder Markus “Notch” Persson ($2,1 bn) has said that becoming an overnight billionaire made him lonely.

TT – Magnus Hjalmarson Neideman

Net Worth: 17 billion SEK ($2,1 bn)

Source of wealth: Mojang (gaming)

Residence: Stockholm / California, US

Persson’s company Mojang created mobile game sensation Minecraft and was sold to Microsoft for $2,4 billion in 2014. Persson has since bought a $70 million Beverly Hills mansion after outbidding Jay Z and Beyoncé.

However, Persson has implied that wealth doesn’t equal happiness: In a series of gloomy tweets in 2015, Persson talked about his isolated life as a billionaire.

17. Stefan Olsson ($2,35 bn): A catholic priest with a knack for investments.

Net Worth: 19 billion SEK ($2,35 bn)

Source of wealth: Stena Group (shipping)

Residence: London

Stefan Olsson doubles his daytime job as a catholic priest by investing in London property and Italian vineyards. Olsson, 68, has a 24,5% stake in Stena Group  – around half that of his big brother Dan’s.

16. Liselott Tham ($ 2,35 bn): The sister of former H&M CEO Stefan Persson. 

Net Worth: 20 billion SEK ($2,35 bn)

Source of wealth: H&M

Residence: Stockholm

Lottie owns more than 5% of H&M, and together with her husband she invests in real estate, including hotels, commercial buildings and land.

15. Carl Bennet ($ 2,35 bn): The ‘Red Baron‘ owns companies like Getinge, Lifco and Elanders.

Robert Granström/TT
Carl Bennet (to the right) seen together with the Swedish prince Daniel at a hockey game.
Robert Granström/TT

Net Worth: 20 billion SEK ($2,5 bn)

Source of wealth: Carl Bennet AB Group, Getinge AB

Residence: Gothenburg Area

Bennet’s first big investment in medtech company Getinge laid the foundation for the investment company Carl Bennet AB. Bennet often takes part in political debates which has earned him the name ‘The Red Baron’.

14. Gustaf Douglas ($2,5 bn): A nobleman and former newspaper boss who struck gold in investments.

Jonas Ekströmer / TT

Gustaf Douglas (to the left) mingles with the Swedish king Carl Gustaf.

Net Worth: 21 billion SEK ($2,5 bn)

Source of wealth: Latour, Wasatornet

Residence: Åkersberga

After getting sacked as CEO of the national daily, Dagens Nyheter, Count Gustaf Douglas founded one of Sweden’s most successful investment companies, Latour. Among Latour’s biggest holdings is security firm Securitas, which, after initially failing, made an impressive turnaround to become a world-leading company.

13. Bertil Hult ($4,6 bn): A school dropout who made a fortune on globalizing education.

Magnus Hjalmarson Neideman / SvD / TT

Bertil Hult’s EF has more than 40,000 employees in 40 countries.

Net Worth: 39 billion SEK ($2,35 bn)

Source of wealth: Education First

Residence: Lucerne, Switzerland

Bertil Hult was a school dropout with dyslexia but paradoxically made his fortune in education through EF, which specializes in language training and exchange programs.

12. Fredrik Lundberg ($4,6 bn): “The Warren Buffett of Sweden” put his father’s company on steroids.

SvD/TT/Magnus Hjalmarson Neideman

Fredrik Lundberg.

Net Worth: 39 billion SEK ($2,35 bn)

Source of wealth: Lundbergs (investments)

Residence: Djursholm, Stockholm

Fredrik Lundberg succeeded his father Lars Lundberg as CEO of the family’s property company as a 30-year-old. Today, at 66, Lundberg heads one of Sweden’s most successful investment companies, Lundsbergsföretagen, which has major holdings in Handelsbanken, Sandvik and Skanska.

Fredrik Lundberg has been called ‘The Warren Buffett of Sweden’ for his impeccable track record.

11. Dan Sten Olsson ($4,75 bn): Sweden’s foremost shipping magnate rubs shoulders with the royal family

Claudio Bresciani / TT

Dan Sten Olsson and Queen Silvia of Sweden breaking a sacrificial bottle of champagne for Stena Primorsk, 2006.

Net Worth: 40 billion SEK ($4,75 bn)

Source of wealth: Stena Group (shipping)

Residence: Gothenburg

Sten A Olsson made a fortune from his shipping company Stena Line, and his son Dan Sten has expanded into real estate, finance and recycling. The Olsson family is worth 83 billion Swedish crowns ($ 10 billion).Dan Sten Olsson runs the family business since 1983.

10. Ane Uggla ($6,5 bn): Heir to a Danish shipping empire



Net Worth: 55 billion SEK ($6,5 bn)

Residence: Stockholm

Source of wealth: A.P. Møller-Mærsk (shipping)

Heir to Denmark’s largest company, shipping giant A.P. Møller-Mærsk. The 69-year old’s son, Robert Maersk Uggla, is nowadays in charge of the Maersk’s holding company. Ane Uggla, who’s lived in Stockholm since the 1970s is today Sweden’s second-richest woman.

9. Kirsten Rausing ($6,75 bn): A Tetra Laval heir  

Kirsten Rausing
TT / file photo

Net Worth: 60 billion SEK ($7,1 bn)

Company: Tetra Laval

Residence: Newmarket, UK

A 65-year old Tetra Laval heir.

8. Finn Rausing ($6,75 bn) is the grandson of Tetra Laval’s founder. 

Net Worth: 57 billion SEK ($6,75 bn)

Residence: Stockholm

Company: Tetra Laval

Finn Rausing, 62, sits on the board of packaging company Tetra Laval with his siblings Kirsten and Jörn. Tetra Laval, founded by their grandfather, created breakthrough packaging that makes it possible to store beverages without refrigeration. 

7. Antonia Ax:son Johnson ($6,75 bn): Sweden’s richest woman pulls the strings on many of the country’s retail giants. 


Net Worth: 57 billion SEK ($6,75 bn)

Residence: Upplands Väsby, Sweden

Company: Axel Johnson AB which fully owns Kicks, Martin & Servera, Åhléns and hold shares in Axfood and Sweden’s largest e-commerce company, Dustin.

Three generations of industrialists and merchants built the Axel Johnson group before splitting into two parts during the 1990s. The shipping and industry businesses were sold out, and Axel Johnson Co reshaped into a shopping empire. Antonia Ax:son Johnson, 74, the first female who inherited the business, and her husband Göran Ennerfelt, are the architects behind the transformation.

6. Melker Schörling ($7 bn) is known for his Midas touch when it comes to investments.

Melker Schörling
Bertil Ericson

Net Worth: 59 billion SEK ($7 bn)

Company: MSAB (investments)

Residence: Stockholm

Melker Schörling is considered one of the greatest financiers and corporate executives of his generation, with a big hand in making Securitas and Assa Abloy into international giants.

Due to health problems, Melker Schörling has stepped aside from his investment company MSAB and handeed over control to his daughters

5. Jörn Rausing ($7 bn) remains active in his grandfather’s company.

Tetra Laval

Jörn Rausing.

Net Worth: 59 billion SEK ($7 bn)

Company: Tetra Laval (packaging)

Residence: Surrey, UK

Together with his siblings Finn and Kirsten, Jörn took over Tetra Laval in 1995 after the departure of their uncle Hans Rausing. Jörn, 57, is the only family member who remains on the company’s board.

4. Frederik Paulsen Jr. ($7,1 bn) is Sweden’s foremost pharma magnate – and he’s worried about climate change.


Net Worth: 60 billion SEK ($7,1 bn)

Company: Ferring Pharma

Residence: Lausanne, Switzerland

Paulsen’s father founded pharmaceutical company Ferring Pharmaceuticals. Paulsen Jr. makes sure to give back: The 66-year old billionaire has this year financed a 60-man strong research team to study climate change on Antarctica.

3. Hans Rausing ($12 billion): The packaging magnate took over his father’s business and earned a fortune

Hans Rausing

Net Worth: 101 billion SEK ($12 billion)

Company: Tetra Laval, packaging

Residence: Wadhurst, UK

Hans Rausing took over the family business from father and founder Ruben Rausing after his death in 1982 – and grew the company’s global profile further. Hans Rausing has sold most of his stake in Tetra Pak to his nephews and reinvested the money in Ecolean, a sustainable packaging company.

The Rausing family makes up one of Sweden’s most influential family dynasties together with the Wallenberg’s. However, has not been spared its fair share of tragedy and family drama: In 2012, the wife of Hans-Kristian Rausing, Hans’ son, died of a drug overdose in the couple’s London home.

2. Stefan Persson ($22 bn) took his father’s clothing empire and made it into the global brand it is today.

Tomas Öneborg /SvD/TT

Karl-Johan Persson together with his father, Stefan Persson.

et Worth: 186 billion SEK ($22 billion)

Company: H&M (clothing retailer)

Residence: Stockholm

Global retail chain H&M’s family patriarch Stefan Persson is Sweden’s second-richest. Before growing H&M into a global fashion empire, his father, Erling Persson, opened the first store in 1947, expanded in Sweden, and took the company public.

1.IKEA founder Ingvar Kamprad ($73 billion) is unmatched. 

TT / SvD / Tomas Oneborg

IKEA’s founder Ingvar Kamprad at the inauguration of the IKEA store in Haparanda in Northern Sweden.

Net Worth: 620 billion SEK ($73 billion)

Company: IKEA (furniture giant)

Residence: Älmhult, Sweden

Ikea’s 91-year old founder Ingvar Kamprad has topped the Swedish rich list for the last decades. He’s worth more than the seven people behind him, combined. Kamprad – known for driving a two-decade old Volvo and flying coach – started with nothing back in 1943 and is now considered Sweden’s most successful entrepreneur of all time.

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