In this article, we will take a look at the 30 wealthiest people in Sweden. We will also discuss the Swedish economy and some of the major industries.
An Analysis of the Swedish Economy
Sweden is one of the richest countries in the world with a GDP per capita of $67,350 in 2024. The government has always favored long-term growth strategies that have helped the economy today. Some of its exemplary policies include establishing a ceiling on public spending preventing the accumulation of debt. Sweden also ranks eighth on the IMD World Competitiveness Ranking 2023, an indication of its diverse and competitive economy. The service sector has been growing tremendously and is producing tech unicorns at a rapid pace, startups and companies valued at over $1 billion.
On May 26, Reuters reported that the Swedish economy has started to cool off after reporting record levels of growth in 2023. GDP figures are still high and consumer activity remains strong despite six rate hikes since the summer of last year. In an update on June 20, Reuters reported that GDP is expected to grow by 2.4% this year and 1.9% the next. Previously in March, the forecasted growth rates for GDP in 2024 and 2025 were 2.8% and 2.1% respectively. The Swedish economy is expected to slow down as investment in housing declines.
On May 8, Reuters reported that Sweden’s central bank made its first rate cut since 2016 from 4% to 3.75%. The central bank is expected to have two more rounds of rate cuts in the next six months of 2024, as inflationary pressures continue to ease. Inflation is expected to stabilize at 2% in 2024, after hitting a peak of 10% in late 2022. While inflationary pressures are easing, the central bank is concerned that an easier monetary policy would devalue the Swedish crown. You can also read our piece on the wealthiest people in Singapore.
Where is the Swedish Government Investing?
The country’s stance on tech and ICT is evident from its expenditure in the IT sector. Last month, Vinnova, the Swedish Governmental Agency for Innovation Systems, announced a partnership with the Swedish Research Council to advance research and innovation in sixth-generation wireless communication systems. The two entities will collaborate with the National Science Foundation (NSF) in the United States. The Swedish government is also making hefty investments in 6G. It is giving Vinnova a total of 390 million SEK for 6G projects between 2024 and 2026. Of the total amount, 140 million SEK was awarded to the Swedish Research Council. The country believes that bilateral agreements with other countries will advance its research and development in 6G. On May 29, Vinnova also announced proposal calls within 6G in collaboration with the Swedish Research Council. These projects are aimed to improve basic research, applied research, and innovation in 6G between 2024 and 2026 and are to be executed with a total budget of 90 million SEK. Vinnova will also be responsible for supervising funding for 100 degree theses based on 6G until 2026.
Ericsson Disrupting Telecom with 6G Research
Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) is a telecommunications company based in Sweden. The company was founded in 1876 and has more than 100,000 employees. The company developed some of the first telephones in the world that are now responsible for 40% of the world’s data. Today, Ericsson creates a more sustainable future by developing technologies for mobile broadband internet communications. Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) has more than 21 research and development centers headed by over 27,000 R&D experts. It owns more than 60,000 granted patents and has signed over 100 licensed agreements.
According to Ericsson’s (NASDAQ:ERIC) 6G white paper, sixth-generation wireless communication networks will be built on the foundations of 5G and 5G advanced and will exhibit more complex cognitive computing functions. As per the company, 6G is expected to be made available by the early 2030s. The company’s mission is to build 6G, such that the connection between the physical and digital world is as seamless as possible. Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) listed nine crucial takeaways from preliminary research done on 6G. According to the company, sustainability and network resilience are key to the success of 6G. Additionally, 6G will be able to deliver top-notch performance, have extreme sensing capabilities, support trillions of embeddable devices, have a more adaptable and dynamic architecture, and have the ability to learn and act autonomously.
Given that 6G is to be built on the foundations of 5G and advanced 5G, Ericsson suggests that rapid adoption of 5G is crucial and necessary over the next few years. The company’s mobility report expects global 5G subscriptions to reach 5.6 billion by the end of 2029. Subscriptions in Southeast Asia are expected to reach 560 million and data traffic per smartphone will grow to 42 GB per month from 17 GB per month by 2029. In March 2024, mobile network data traffic grew by 25% year-on-year and is expected to grow at a compound annual growth rate of 20% by 2029.
Now that we have studied the Swedish economy and the most dominant industry, let’s take a look at the 30 wealthiest people in Sweden. You can also take a look at the wealthiest people in Japan.
Photo by lilzidesigns/Unsplash
Our Methodology
To compile our list of the 30 wealthiest people in Sweden, we utilized the real time billionaires data from Forbes and ranked the wealthiest people in Sweden in ascending order of their net worths, as of June 29.
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30 Wealthiest People in Sweden
30. Jenny Lindén Urnes
Net Worth as of June 29, 2024: $1.6 Billion
Jenny Lindén Urnes ranks 30th on our list of the wealthiest people in Sweden. She is the chairwoman and owner of Linden Group. She inherited the company from her father in 2009. The 53-year-old has a net worth of $1.6 billion.
29. Charlotte Soderstrom
Net Worth as of June 29, 2024: $1.7 Billion
Charlotte Soderstrom is the 29th richest person in Sweden with a net worth of $.17 billion. She is the daughter of Stefen Persson, the richest person in Sweden and former chairman of H&M. She also holds a stake in the company.
28. Tom Persson
Net Worth as of June 29, 2024: $ Billion
Tom Persson has a net worth of $1.7 billion, contributing to his ranking on our list of the richest people in Sweden. He is the younger brother of Karl-Johan, who is currently the chairman of H&M. The company was founded by his grandfather in 1947.
27. Conni Jonsson
Net Worth as of June 29, 2024: $1.8 Billion
Conni Jonsson ranks 27th on our list of the richest people in Sweden with a net worth of $1.8 billion. He founded EQT Partners AB in 1994 and has been serving as chairman since 2014. He owns a 5% stake in the investment company.
26. Stefan Olsson
Net Worth as of June 29, 2024: $1.8 Billion
Stefan Olsson is one of the richest people in Sweden with a net worth of $1.8 billion. He is a part owner of Stena Sphere, a conglomerate in Sweden. The company was founded by his father in 1939. His brother owns a 51% stake in the company while he owns 24.5%.
25. Karl-Johan Persson
Net Worth as of June 29, 2024: $1.8 Billion
Karl-Johan Persson is one of the richest people in Sweden with a net worth of $1.8 billion. He is the current chairman of H&M, founded by his grandfather Erling Persson in 1947. He stepped up as CEO in 2009.
24. Elisabeth Douglas
Net Worth as of June 29, 2024: $2.0 Billion
Elisabeth Douglas ranks 24th on our list and is the wife of the late Gustaf Douglas, who died in 2023. Gustaf graduated from Harvard and acquired a stake in a security firm before he turned it into an investment firm, Investment AB Latour, in 1984.
23. David Mindus
Net Worth as of June 29, 2024: $2.0 Billion
David Mindus has a net worth of $2 billion, contributing to his ranking on our list of the wealthiest people in Sweden. He is the chief executive officer and founder of Sagax AB, a real estate company in Sweden. Before he started the company, he used to work at GE Capital.
22. Louise Lindh
Net Worth as of June 29, 2024: $2.1 Billion
Louise Lindh owns a 15% stake in L.E. Lundbergföretagen AB, along with her sister. She is also a board member of the company along with her sister, Katarina, and father, Fredrik. The company was founded by her grandfather in 1944.
21. Katarina Martinson
Net Worth as of June 29, 2024: $2.2 Billion
Katarina Martinson ranks 21st on our list of the wealthiest people in Sweden. She owns a 15% stake in her family business, L.E. Lundbergföretagen AB. The company primarily operates in the property management industry and owns a range of other investments in the pulp and paper industry. She is a board member of the company along with her sister and father.
20. Bertil Hult
Net Worth as of June 29, 2024: $2.6 Billion
Bertil Hult has a net worth of $2.6 billion, contributing to his ranking on our list of the wealthiest people in Sweden. He founded EF Education First, which is now run by his three sons. The company provides language and travel education in more than 111 countries.
19. Dan Olsson
Net Worth as of June 29, 2024: $ Billion
Dan Olsson ranks 19th on our list of the wealthiest people in Sweden. He is the chief executive officer of Stena Sphere. He took over the company in 1983 and owns 51% of it, making him a majority owner. His children have a 6% stake in the company each and are also board members.
18. Lottie Tham
Net Worth as of June 29, 2024: $2.6 Billion
Lottie Tham and her family have a combined net worth of $2.6 billion. She owns 5% of H&M. The company was originally founded by her father, Erling Persson in 1947. Her nephew, Karl-Johan Persson, is currently the chairman of the company. She is the sister of Stefen Persson, the richest person in Sweden.
17. Roger Samuelsson
Net Worth as of June 29, 2024: $3 Billion
Roger Samuelsson ranks 17th on our list of the wealthiest people in Sweden. He owns 69% of SHL Medical, a prominent medical company in Sweden. The company is also one of the largest makers of autoinjectors. In 2020, EQT acquired 31% of SHL Medical.
16. Erik Selin
Net Worth as of June 29, 2024: $4.1 Billion
Erik Selin is the chief executive officer of Fastighets AB Balder, which he founded in 2005. 56% of real estate owned by the company is residential. He also owns more than 5o hotels, making him one of the biggest hotel owners in Sweden.
15. Daniel Ek
Net Worth as of June 29, 2024: $4.9 Billion
Daniel Ek ranks 15th on our list of the wealthiest people in Sweden. He is the co-founder and chief executive officer of Spotify. The music streaming service has 615 million users and 239 million paid subscribers from across the globe. He owns 9% shares of the company and has 37% voting control.
14. Märta Schörling Andreen
Net Worth as of June 29, 2024: $ Billion
Märta Schörling Andreen has a net worth of $5.4 billion. She is the daughter of the late Melker Schorling, a Swedish billionaire who died in 2023. She, along with her sister, Sofia, owns a majority stake in Melker Schorling AB.
13. Sofia Högberg Schörling
Net Worth as of June 29, 2024: $5.4 Billion
Sofia Högberg Schörling is the 13th wealthiest person in Sweden with a net worth of $5.4 billion. Her father, Melker Schorling, was a billionaire who died in 2023. She owns the majority of Melker Schorling AB along with her sister. The company has stakes in Hexpol, AAK, Assa, Abloy, and Securitas.
12. Torbjorn Tornqvist
Net Worth as of June 29, 2024: $ Billion
Torbjorn Tornqvist has a net worth of $5.4 billion, contributing to his ranking on our list of the wealthiest people in Sweden. He co-founded Gunvor Group, a commodities conglomerate. He owns 80% of the company.
11. Carl Douglas
Net Worth as of June 29, 2024: $6.5 Billion
Carl Douglas ranks 11th on our list of the wealthiest people in Sweden with a net worth of $6.5 billion. He is the son of a billionaire, Gustaf Douglas. Carl, along with his brother Eric, is a board member of his family business, Wasatornet. The family is also a prominent shareholder of Latour AB.
10. Eric Douglas
Net Worth as of June 29, 2024: $6.5 Billion
Eric Douglas has a net worth of $6.5 billion, contributing to its ranking on our list of the wealthiest people in Sweden. His father, Gustaf Douglas, is also a billionaire. Eric is a board member of his family company, Wasatornet.
9. Martin Lorentzon
Net Worth as of June 29, 2024: $7.0 Billion
Martin Lorentzon ranks ninth on our list of the wealthiest people in Sweden with a net worth of $7 billion. He founded Spotify along with his friend Daniel Ek. The streaming service now has more than 615 million users from across the globe and 239 million paid subscribers.
8. Jorn Rausing
Net Worth as of June 29, 2024: $7.1 Billion
Jorn Rausing is the eighth richest person in Sweden. Jorn is a board member of Tetra Lavel and holds an equal stake in the company with his siblings. He also owns a stake in International Flavors & Fragrances and Ocado.
7. Kirsten Rausing
Net Worth as of June 29, 2024: $7.1 Billion
Kirsten Rausing ranks seventh on our list of the wealthiest people in Sweden. She owned one-third of Tetra Lavel and is a board member with her brother, Finn. She also owns a stake in International Flavors & Fragrances.
6. Finn Rausing
Net Worth as of June 29, 2024: $7.1 Billion
Finn Rausing has a net worth of $7.1 billion, contributing to his ranking on our list. He is a board member of Tetra Lavel along with his siblings. Tetra Pak, a subsidiary of Tetra Lavel, was founded by his grandfather. He also owns a stake in International Flavors & Fragrances.
5. Fredrik Lundberg
Net Worth as of June 29, 2024: $7.4 Billion
Fredrik Lundberg ranks fifth on our list of the wealthiest people in Sweden. He is the chief executive officer and chairman of L.E. Lundbergföretagen AB. The company was originally founded by his father in 1944 and he took over the company in 1981.
