Martin Lorentzon Net Worth & Biography
Martin Lorentzon Net Worth & Biography
|Popular Name:||Martin Lorentzon|
|Real Name:||Sven Hans Martin Lorentzon|
|Birth Date:||April 1, 1969|
|Profession:||Businessman, Investor, Entrepreneur|
|Net Worth:||$3.5 Billion|
Martin Lorentzon is the co-founder and director of Spotify and the co-founder of Tradedoubler. He was on the board of Sweden’s main telecom operator Telia Company from 2013 to 2018 and has been an expert on Sweden’s immigrants’ integration issues for the Moderate Party commission New Swedish Model since April 2019.
Mr. Lorentzon has been a member of Spotify’s board of directors since July 21, 2008. He founded the internet marketing company based in Stockholm, Sweden, Tradedoubler, in 1999, and initially served on its board of directors as a member. Additionally, Mr. Lorentzon, who holds a Master’s degree in Civil Engineering from the Chalmers University of Technology, has held senior roles at Cell Ventures and Telia Company. He is the subject of today’s discussion on our blog, and therefore, the article below bears exquisite information regarding Martin Lorentzon’s biography, career highlights, personal life, and success story.
Early Life: Childhood, Education
Sven Hans Martin Lorentzon was born on April 1, 1969, in Boras, Sweden. His father, Sven, worked as an economist, while his mother, Brita, worked as a teacher. He has two older siblings.
Lorentzon attended Särlaskolan primary school in Borås. For his high school education, he attended the technical department of Sven Eriksonsgymnasiet, after which he proceeded to the Chalmers University of Technology for his bachelor’s degree in industrial economics, and later a master of science and engineering degree. In addition, Lorentzon attended economics lectures at the Gothenburg School of Business and Law. He also studied economics at the Stockholm School of Economics and attended lectured at Stockholm University, taking courses in rhetoric and argumentation.
Professional Life: Entrepreneurial Career, Investments
Lorentzon started an internship program at a telephone company, Telia, in 1995. He left Sweden for the United States and arrived in San Francisco where he worked in the AltaVista office. In Silicon Valley, he met experienced web entrepreneurs and found employment with an investment company Cell Ventures, where he met Felix Hagnö, whose parents owned a Swedish clothing line called Joy.
In September 1999 Lorentzon and Hagnö started Netstrategy, which later became the leading European marketplace Tradedoubler. The company became socially acclaimed and commercially profitable, and won a couple of honors including the Swedish “Export Hermes” prize for the best Swedish exporting company, the Swedish Trade Council in the UK prize “Achievement Award” for Swedish companies that have achieved the most success in the UK over the past year, and the Swedish Guldmusen prize for “IT-rookie of the Year”.
Lorentzon then moved to Germany and sold his Tradedoubler option for $70 million in 2005. Ten years after he moved out of Sweden, he moved back to his motherland to continue pursuing his dreams. In March 2006 Tradedoubler acquired Advertigo, an advertising service created by Swedish entrepreneur Daniel Ek. Finding that they had similar experiences of depression caused by unexpected wealth and a lack of purpose, Ek and Lorentzon quickly became friends. The two men worked together and came up with a new company Spotify in April 2006. Lorentzon resigned from his position as a member of the board of Tradedoubler and gave 1 million euros to his friend Ek. Spotify was registered in June 2006 as a music streaming service generating its revenue from online advertising, a business that the two businessmen knew very well.
Lorentzon was a chief executive officer of Spotify from 2006 to 2013, and serves as a chairman of the board of directors for eight years from 2008 to 2016 until Daniel Ek took over these roles.
Achievements: Awards & Honors
Lorentzon’s Netstrategy, which later became the leading European marketplace Tradedoubler, has won a number of honors including the Swedish “Export Hermes” prize for the best Swedish exporting company, the Swedish Trade Council in the UK prize “Achievement Award” for Swedish companies that have achieved the most success in the UK over the past year, and the Swedish Guldmusen prize for “IT-rookie of the Year”.
In 2001, he was elected as a member of the Kungl Engineering Academy which is under the Education and Research Department.
In 2013 Lorentzon was named a member of Prince Daniel’s Fellowship. The following year he was named the Swede of the Year. The Chalmers University of Technology awarded him an honorary doctorate in and the Svenska Dagbladet presented him with a corporate award.
Personal Life: Relationships, Private Interests
Since his return to Sweden in 2005, Mr. Martin Lorentzon has lived in Vasastan, Stockholm. We do not know if he’s currently married or has any children, as such details haven’t been provided anywhere on the internet.
Lorentzon owns an apartment in the ski resort community of Åre. He has disclosed that he has attention deficit hyperactivity disorder.
Martin Lorentzon Net Worth: Salary, Income Sources, Shares, Investments
The Swedish entrepreneur and businessman, Martin Lorentzon, who has a net worth of $3.5 billion, rose to prosperity with the success of the two companies he co-founded Spotify and Tradedoubler.
His share in Spotify is the largest. As per recent findings, Mr. Lorentzon’s option was estimated at more than 4 billion dollars. He holds 43.3 percent voting rights and owns 12.7 percent shares of Spotify. From April 2013 to March 2018, Lorentzon served on the board of directors at Telia as a member, and also owned 230,000 shares worth several millions of dollars. He has also held senior roles at Cell Ventures and the Telia Company.