Bloomberg Billionaires Index

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# 58 Stefan Persson $18.8B

Random fact: His 8,700-acre estate in Wiltshire, England includes 31 cottages.

Overview

Persson is the chairman and largest shareholder of Hennes & Mauritz, the world's second-biggest retailer of private-label apparel. The Stockholm-based company had revenue of 210 billion Swedish kronor ($24.4 billion) in the year to Nov. 30, 2018. Its stores, including H&M and Cheap Monday, are in more than 65 countries.

As of :
Last change -$277M ( -1.4%)
YTD change +$4.20B ( +28.8%)
Industry Retail
Biggest asset HMB SS Equity
Citizenship Sweden
Age 72
Wealth Inherited
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Stefan Persson's net worth of $18.8B can buy ...

0
troy ounces of gold
0
barrels of crude oil

... and is equivalent to ...

0%
of the GDP of the United States
0%
of the total wealth of the 500 richest people in the world
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of the top 100 U.S. college endowments
0%
of the top 200 U.S. executives’ total awarded compensation
0%
of U.S. existing home sales
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times the median U.S. household income

Latest News

Net Worth Summary

Cash
Private asset
Public asset
Misc. liabilities
Confidence rating:

The majority of Persson's fortune derives from his 47.9% stake in Hennes & Mauritz. The shares are held by the Persson family and related companies, according to H&M's corporate website. The billionaire is credited with all of the fortune because he controls the company's operational and strategic decisions. H&M is the world's second-largest retailer of private-label apparel, according to the Fast Retailing website.

Most of his shares are held through Ramsbury Invest, a Stockholm-based family investment vehicle, according to H&M's 2018 annual report. They include all of H&M's class A shares, which have 10 times the voting rights of the class B shares.

The billionaire also owns a 4.8% stake in Swedish investment company Melker Schorling, according to the company's 2016 annual report. The company was taken private and delisted in January 2018. Its valued based on its last traded price.

He's also the owner of Ramsbury Property, which controls and manages office property in Stockholm, Paris and London. The real estate company is valued using its reported 2018 financials, according to company database, Allabolag.se, and the average price-to-book-value ratio of two publicly traded companies, FastPartner and Platzer Fastigheter Holding.

Persson's Ramsbury Estates has more than 19,000 acres of rural property in England, according to its website. It's valued using an implied price of 11,400 pounds per acre based on local sales in the area as of May 2019.

Nils Vinge, head of investor relations at H&M, declined to comment on Persson's net worth calculation. Persson's family foundation didn't respond to requests for comment about his wealth.

Biography

Birthdate: 10/4/1947
Family: Married, 3 children
Education: Lund University, Stockholm University

Persson was born in Stockholm in 1947, the same year his father, Erling, founded clothing retailer Hennes & Mauritz. After graduating from Stockholm University and Lund University, Stefan joined the family business in 1976, starting as head of the company's U.K. operations. He became chief executive officer in 1982 and chairman in 1998.

Over the past three decades, the company has expanded throughout Europe and the U.S., where Erling embraced the idea of selling affordable, trendy clothing, sometimes referred to as "disposable chic." Now Europe's second-largest clothing retailer, according to research group Retail-Index, H&M since 2007 has opened in Hong Kong, Shanghai, Tokyo, Mexico City, Melbourne and Moscow. The company has about 4,700 stores worldwide.

Persson also owns Ramsbury Property, which has buildings on London's Oxford Street and Regent Street and on the Champs-Elysees in Paris.

Milestones
  • 1947 Born in Stockholm to H&M founder Erling Persson.
  • 1974 H&M is listed on the Stockholm Stock Exchange.
  • 1976 Becomes U.K. country manager for H&M.
  • 1982 Takes over from his father as CEO of H&M.
  • 1998 Becomes chairman of H&M after 16 years as CEO.
  • 2000 Opens first H&M store on Fifth Avenue in New York.
  • 2004 Forms first H&M celebrity designer partnership with Karl Lagerfeld.
  • 2012 Underwear designed by David Beckham goes on sale at H&M.
  • 2013 Recruits Czech player Tomas Berdych for new tennis collection.