Stefan Persson Net Worth & Biography

The Swedish billionaire businessman Stefan Persson is one of the most successful and most renowned people in the Swedish business industry. Further developing his father’s company, H&M, this tactical business maestro led the global expansion of the business and took it to its top-rated position of the leading high street fashion chain in the world. He started his career with H&M as Country Manager for the United Kingdom market and later assumed the position of Chief Executive Officer, which he held for a period of sixteen years until 1998. Next up, his primary role in the successful and established fashion company was as Chairman of the Board. He has also served on the boards of Stockholm School of Entrepreneurship, INGKA Holding BV, SEB, Electrolux, and Custos. In 2010, this businessman received an Honorary Doctorate from Karolinska Institutet for his continued dedication and support of enterprise, research, and innovation. It is also important to include that he founded the Erling-Persson Family Foundation which he currently leads as Chairman. The foundation has supported SSES and enabled it to thrive over the past twenty years. In March 2013, Forbes named Persson as the richest of Sweden’s 12 billionaires. He served as the chairman of the H&M fashion company until he was succeeded by his son in May 2020. However, he still is the largest shareholder of the company owning a 36 percent stake. Further reading serves you with all the interesting info you seek with regard to the life and success story of this business-smart entrepreneur.

Early Life: Childhood, Education

He was born Carl Stefan Erling Persson on 4 October 1947 in Sweden. His father was a businessman named Erling Persson. His father founded the H&M company in 1947, a few months before Stefan was born.

Lottie Tham is his younger sister.

He earned an associate qualification from Stockholm University.

Professional Life: Entrepreneurial Career

In 1982, Stefan Persson took over his father’s fashion business, H&M. Although the company went public in 1974, not much was attained until Stefan took over the mantle of leadership from his father and scaled the company to become the world-renowned behemoth it is today. Under his leadership, the company expanded to employ 177,000 people in more than 72 countries. H&M’s revenues exceed $22 billion at the present time.

Persson was particularly successful in charging celebrity and designer collaborations, bringing popular high fashion names to the fashion market. Notably, H&M has collaborated with big names like Jimmy Choo, Maison Martin Margiela, Sonia Rykiel, Lanvin, Marni, Matthew Williamson, Commes des Garçons, Karl Lagerfeld, Stella McCartney, and Donatella Versace.

In 2009, Persson stepped down as chief executive officer of the company in favor of his son Karl-Johan, staying on as the company’s chairman until January 2020.

Personal Life: Wife, Children, Philanthropy

Mr. Stefan Persson is a co-founder of the Mentor Foundation, an organization that is dedicated to fighting substance abuse among young people. This organization has a reputed name of trustees, which include Queen Noor of Jordan and the Queen of Sweden.

He founded the Erling-Persson Family Foundation which he currently leads as Chairman. The foundation has supported SSES and enabled it to blossom over the past 20 years.

He is a proud supporter of Djurgårdens IF and has revealed that he is co-funding a foundation for the Swedish football club.

His hobbies include downhill skiing, tennis, and golf.

He resides in Stockholm, Sweden, with his second wife, Denise Persson. He was formerly married to Pamela Collett, with whom he has three children.

His children Karl-Johan Persson, Tom Persson and Charlotte Söderström, are all billionaires.

Stefan Persson Net Worth: Salary, Income sources, Assets, Real Estate

The Swedish business tycoon Stefan Persson currently has a net worth of $25 billion. Records at public disposal show that he has accumulated his wealth largely through the earnings of H&M (Hennes & Mauritz), the fashion company that was established by his late father Erling Persson. In addition to the company, Stefan is known as the wealthiest business person in Sweden, and his fortune ranks him as the 16th wealthiest person on the entire planet.

He took over H&M from his father in 1982 and led the company as its manager until 1998. He also owns a stake in the Swedish technology firm Hexagon AB and has also served on the boards of Stockholm School of Entrepreneurship, INGKA Holding BV, SEB, Electrolux, and Custos. Through his privately held real estate firm Ramsbury Invest, this billionaire owns a large number of properties in Stockholm, London, and Paris. Stefan Persson holds a 38.8 percent stake in H&M, which is the second-largest apparel retailer in the world. He also holds a 4.8 percent stake in the Swedish investment company Melker Schorling.