Stefan Persson (magnate)

Carl Stefan Erling Persson (Swedish: [ˈstěːfan ˈpæ̌ːʂɔn]; born 4 October 1947) is a Swedish billionaire businessman. In March 2013, Forbes reported Persson's net worth as $28 billion[2] making him the richest of Sweden's 12 billionaires[2] and the 17th richest person in the world;[3] he has since dropped to number 50.[4] Persson was the chairman in fashion company H&M until May 2020, when he was succeeded by his son.[5] He remains the company's largest shareholder, owning a 36% stake.[6] The company was founded by his father Erling Persson in 1947.[7]

Stefan Persson
Persson in 2010
Born4 October 1947 (1947-10-04) (age 73)
Stockholm, Sweden
NationalitySwedish
EducationStockholm University
OccupationBusiness magnate
Known for36% owner of H&M
Net worthUS$18.4 billion (October 2020)[1]
TitleChairman, H&M
Spouse(s)Pamela Collett
Carolyn Denise Florman
ChildrenKarl-Johan Persson
Charlotte Söderström
Tom Persson
Parent(s)Erling Persson
Margrit Persson
RelativesLottie Tham (sister)

Persson took over the company from his father in 1982 and served as its manager until 1998. Persson also owns a substantial stake in the Swedish technology company Hexagon AB. Through his privately held real estate company Ramsbury Invest, Persson owns a large number of properties in London, Paris and Stockholm.

According to the Forbes Billionaires List Persson had a net worth of US $18.5 billion in 2019, making him the 58th richest person in the world at the time.[8]

Early life

Stefan Persson is the son of Erling Persson, who founded H&M in 1947.[7] He earned an associate qualification from Stockholm University.[1]

Personal life

Persson is a founder of the Mentor Foundation, a non-profit organisation that aims to combat substance abuse among young people.[2] He is a supporter of Djurgårdens IF and is co-funding a foundation for the club.[9] Persson enjoys downhill skiing, tennis and golf. He owns properties in London, Paris and Stockholm and, in 2009, acquired the 21-cottage village of Linkenholt in Hampshire, England.[2]

Persson has three children from his first marriage, to Pamela Collett.[2][10] In 2009, his son, Karl-Johan Persson, took over as president and chief executive of H&M.[1] His other two children, Tom Persson and Charlotte Söderström are also billionaires.[1]

Persson lives in Stockholm, Sweden, with his second wife, Denise Persson, née Florman.[1]

References
  1. "Forbes profile: Stefan Persson". Forbes. Retrieved 4 October 2020.
  2. Forbes Billionaires Sweden 2013
  3. Forbes The World's Billionaires
  4. "Stefan Persson". Forbes. Retrieved 26 December 2017.
  5. "Fresh leadership for H&M as longtime chair Stefan Persson steps down - Retail Gazette". www.retailgazette.co.uk. Retrieved 8 October 2020.
  6. "Stefan Persson". Forbes. Retrieved 8 October 2020.
  7. "Stefan Persson". Nationalencyklopedin (in Swedish). Retrieved 25 September 2010. (subscription required)
  8. "Forbes Billionaires List". Forbes. Retrieved 10 October 2019.
  9. Iwanowski, Frank (7 June 2014), Stefan Persson Net Worth, Celebrity
  10. "Stefan Persson family". Tharawat Magazine. 17 October 2019. Retrieved 4 October 2020.

Further reading

Biography (In Swedish) The Big Boss. Så tog Stefan Persson H&M ut i världen och blev Sveriges rikaste person. Erik Palm and Jonas Alsgren (2019). Norstedts ISBN 978-91-1-307657-7

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