How did Stefan Persson become rich?

How did Stefan Persson become rich?

Stefan Persson took over his father's apparel business, H&M, in 1982. Although the company went public in 1974, it is Persson who scaled the company to become the global behemoth it is today. Under his leadership, the company has grown to employ 177,000 people in over 72 countries.

Who is the richest person in Sweden?

Stefan Persson is Sweden's richest person by way of global cheap chic fashion retailer Hennes & Mauritz, of which he owns 36%. Persson stepped down as chairman in May 2020 after 22 years in the role; his son Karl-Johan succeeded him. H&M was founded by Persson's father Erling in 1947.

How much is the owner of H&M worth?

Stefan Persson is Sweden's richest person with a net worth of 25.4 billion dollars. He is the man behind the success of budget fashion retailer Hennes & Mauritz, or H&M. H&M is the world's second-biggest retailer of private label apparel. The company reported a revenue of 20.2 billion dollars in 2020.

How did Carl Stefan Erling Persson become successful in business?

His father started out a business after visiting New York City shortly after World War 2, where he was impressed by the stylish clothes that were available at cheaper prices. He opened his first store, Hennes in Vasteras which became a huge success after which he started Hennes & Mauritz, known as H&M today.

Who owns the brand H&M?

As the company entered the 1980s, H&M set its sights on further global expansion. In 1982, Erling Persson officially handed the reins of the company to his son, Steffan Persson, who took over as the CEO of the brand.

Who controls H&M?

Stefan Persson H&M The H&M logo used since 1999 Trade name H&M Owner Stefan Persson (28%) Number of employees 126,376 (30 November 2019) Subsidiaries Monki, Weekday, Cheap Monday, COS, & Other Stories, ARKET 18

What is the richest clothing company?

Top 10 Richest Fashion Brands of All Time: Levi, Dior, H&M or Louis Vuitton? LVMH: worth $37.14 billion. H&M: worth $18.82 billion. Kering: worth $15.65 billion. The Gap: worth $15.65 billion. Christian Dior: worth $11.91 billion. Richemont: worth $11.83 billion. Estée Lauder: worth $9.71 billion.

How is Sweden so rich?

The economy of Sweden is a highly developed export-oriented economy, aided by timber, hydropower, and iron ore. These constitute the resource base of an economy oriented toward foreign trade.

Who is the richest family in the world?

the Waltons Key Takeaways. At $238 billion, the Waltons are the richest family in the world thanks to their massive stake in Walmart, the world's largest company by revenue.

Which country has the most billionaires?

the United States In detail, China topped the list with a billionaire population of 1,133 people. By comparison, 716 billionaires resided in the United States. India, Germany, and the United Kingdom were also the homes of a significant number of billionaires that year. Apr 6, 2022

Who is the richest Scandinavian?

Stefan Persson This Swedish billionaire is the richest in the region, with a $13.5 billion net worth. He was the CEO of H&M (one of the largest fashion groups in Sweden) until he handed over to his son in January 2020 after 11 years of filling that position. Oct 14, 2021

Who is the richest person in Norway?

Gustav Magnar Witzøe was the richest Norwegian in 2019, with a fortune of roughly 20.1 billion Norwegian kroner. The second wealthiest individual was Kjell Inge Røkke, with a fortune of roughly 19.4 billion Norwegian kroner. Feb 2, 2022

What does H & M mean?

Hennes & Mauritz The name is changed to Hennes & Mauritz when Erling Persson buys the hunting and fishing store Mauritz Widforss in Stockholm, including a stock of men's clothing. This is the start of sales of men's and children's clothing. 1974. H&M is listed on the Stockholm Stock Exchange.

Does Madonna own H&M?

American entertainer Madonna has produced five fashion brands, beginning with a clothing range for fashion store H&M in March 2007.

What ASOS stands for?

ASOS originally stood for AsSeenOnScreen with the tagline "Buy what you see on film and TV" because it exclusively sold imitations of clothing from those mediums (for example, Brad Pitt's red leather jacket from the 1999 film Fight Club).

Where is Uniqlo from?

UNIQLO is a clothing apparel company, which was originally founded in Yamaguchi, Japan in 1949 as a textiles manufacturer. Now it is a global brand with over 1000 stores around the world. Redefining clothing, with a focus on quality and textiles which has been unwavered since the company's origins in 1949.

Who is the richest girl in world?

Francoise Bettencourt Meyers Francoise Bettencourt Meyers Bettencourt Meyers is the richest woman on the planet for the second year running. Apr 5, 2022

Who is the richest child in the world?

1. Princess Charlotte of Cambridge. Princess Charlotte of Cambridge is the richest kid in the world with an estimated net worth of $5 billion. Feb 28, 2022

Is Norway poor?

Norway is also one of the countries with the lowest child mortality rate. Impressively, Norway also has a very low poverty rate (at 0.5% as of 2017). However, contrary to the conventional image of Norway being a very affluent country, many Norwegians still live in poverty. Aug 8, 2020

Who was the first billionaire?

In the year 1913, Rockefeller's personal wealth, which stood at $900 million, was more than 2% of the US GDP of $39.1 billion that year. And in 1916, Rockefeller was announced as the country's official first billionaire, with a fortune worth nearly 2% of the national economy. May 4, 2022