Schorling is the founder of Melker Schorling AB, a closely held investor in long-term industrial projects. The Stockholm-based company's biggest holding is Hexagon, a Swedish sensor and software company. Other investments include stakes in vegetable oil producer AAK and Assa Abloy, the world's biggest lockmaker.
Melker Schorling's net worth of $8.02B can buy ...
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The majority of Schorling's net worth is derived from his stake in Hexagon, a Swedish sensor and software development company. He owns 23.9% of the shares based on Melker Schorling AB's 24.7 percent stake in the company, according to its 2018 annual report.
Schorling is calculated to hold a 92.9% stake in Melker Schorling AB based on his family's holding in Schorling & Partners as disclosed in the 2016 annual report. Melker Schorling AB was founded by the billionaire in 1999 and listed on the Swedish stock exchange in 2006. Schorling, and his minority partners, completed a privatization of the company in 2018. He's credited with all of his family's stake in this analysis to reflect his status as founder.
Melker Schorling AB also has stakes in AAK, Assa Abloy, Hexpol and Securitas, and the billionaire's stake in each is based on their 2018 annual reports. Assa Abloy is the world's largest lockmaker based on installed capacity, according to its website.
The net worth calculation was updated on July 12, 2019 to reflect the carrying value of Melker Schorling AB's public holdings. Before this date it was calculated based on the company's final share price as a publicly traded company.
The value of his cash investments is based on an analysis of dividends, market performance, insider transactions, taxes and charitable contributions.
Schorling's press office didn't respond to email requests for comment.
Melker Yngve Georg Schorling was born on May 15, 1947, in Gotlunda, Sweden, the son of a farmer. He studied business and economics at Gothenburg University's Business School, graduating in 1970. He spent five years working for LM Ericsson, a Swedish industrial group in Mexico, before returning to Sweden to work for equipment maker ABB Flakt in Stockholm.
He became chief executive officer of Essef Service, a company that repaired industrial machinery, in 1979. He held the job for four years, during which he impressed Swedish billionaire Gustaf Douglas, who had bought the unprofitable security company Securitas in 1985. Two years later, Douglas visited Schorling at his waterfront home in Malmo, Sweden, and asked him to become Securitas' chief executive. Schorling accepted and bought a 17.5 percent stake in the company for 24 million Swedish kronor ($3.8 million).
The company sold shares in a public offering on the Swedish stock exchange in 2006, an event that valued it at $385 million, according to data compiled by Bloomberg, and giving Schorling a return of more than 1,600 percent. He moved to construction firm Skanska in 1993, and left four years later to manage his personal investments, which by then had included lock maker Assa Abloy, a Securitas spinoff.
He founded his investment company Melker Schorling AB in 1999 and it joined the Swedish stock exchange seven years later. Schorling retained an 85 percent stake. The company has six main holdings, including a 23 percent stake in measuring instrument maker Hexagon and vegetable fat processor AarhusKarlshamn.
Schorling lives in Stockholm with his wife, Kerstin. His two daughters, Marta and Sofia, sit on the board of Melker Schorling AB.