bankers A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Because ...

industrialist A business magnate, also known as a tycoon, is a person who has achieved immense wealth through the ownership of multiple lines of enterprise. The term characteristically refers to a powerful entrepreneur or investor who controls, through perso ...

politician A politician is a person active in party politics, or a person holding or seeking an elected office in government. Politicians propose, support, reject and create laws that govern the land and by an extension of its people. Broadly speaking, a ...

bureaucrat A bureaucrat is a member of a bureaucracy and can compose the administration of any organization of any size, although the term usually connotes someone within an institution of government. The term ''bureaucrat'' derives from "bureaucracy", ...

diplomat A diplomat (from grc, δίπλωμα; romanized ''diploma'') is a person appointed by a state or an intergovernmental institution such as the United Nations or the European Union to conduct diplomacy with one or more other states or internati ...

Foundation Asset Management AB Foundation Asset Management AB is a Swedish foundation asset management company, founded by the three largest Wallenberg foundations in order to manage the assets of the foundations, by means of direct ownership as well as through management and ...

Investor AB Investor AB is a Swedish investment and ''de facto'' conglomerate holding company. It was founded in 1916 and is still controlled by the Wallenberg family through their Foundation Asset Management company FAM. The company owns a controlling st ...

Ericsson (lit. "Telephone Stock Company of LM Ericsson"), commonly known as Ericsson, is a Swedish multinational networking and telecommunications company headquartered in Stockholm. The company sells infrastructure, software, and services in informat ...

Skandinaviska Enskilda Banken Skandinaviska Enskilda Banken AB (, abbreviated SEB, is a northern European financial services group headquartered in Stockholm, Sweden. In Sweden and the Baltic countries, SEB has a full financial service offering. In Denmark, Finland, Norway, ...

Stora Enso Stora Enso Oyj (from sv, Stora and fi, Enso ) is a manufacturer of pulp, paper and other forest products, headquartered in Helsinki, Finland. The majority of sales takes place in Europe, but there are also significant operations in Asia and S ...

Wärtsilä Wärtsilä Oyj Abp (), trading internationally as Wärtsilä Corporation, is a Finnish company which manufactures and services power sources and other equipment in the marine and energy markets. The core products of Wärtsilä include technol ...

Electrolux Electrolux AB () is a Swedish multinational home appliance manufacturer, headquartered in Stockholm. It is consistently ranked the world's second largest appliance maker by units sold, after Whirlpool. Electrolux products sell under a variety ...

ABB ABB Ltd. is a Swedish- Swiss multinational corporation headquartered in Zürich, Switzerland. The company was formed in 1988 when Sweden's Allmänna Svenska Elektriska Aktiebolaget (ASEA) and Switzerland's Brown, Boveri & Cie merged to crea ...

SAAB Saab or SAAB may refer to: Brands and enterprises * Saab Group, a Swedish aerospace and defence company, formerly known as SAAB, and later as Saab AB ** Datasaab, a former computer company, started as spin off from Saab AB * Saab Automobile, a fo ...

SAS Group SAS AB (Scandinavian Airlines System Aktiebolag), trading as SAS Group, is an airline holding company headquartered in the SAS Frösundavik Office Building in Solna Municipality, Sweden. It is the owner of the airlines Scandinavian Airlines and S ...

SKF AB SKF (Swedish: ''Svenska Kullagerfabriken''; 'Swedish Ball Bearing Factory') is a Swedish bearing and seal manufacturing company founded in Gothenburg, Sweden, in 1907. The company manufactures and supplies bearings, seals, lubrication and l ...

Atlas Copco Atlas Copco (Copco from Compagnie Pneumatique Commerciale) is a Swedish multinational industrial company that was founded in 1873. It manufactures industrial tools and equipment. The Atlas Copco Group is a global industrial group of companies h ...

AstraZeneca AstraZeneca plc () is a British-Swedish multinational pharmaceutical and biotechnology company with its headquarters at the Cambridge Biomedical Campus in Cambridge, England. It has a portfolio of products for major diseases in areas includin ...

Epiroc Epiroc AB is a Swedish manufacturer of mining and infrastructure equipment. It is headquartered in Stockholm, Sweden and has its manufacturing facilities in Sweden, United States, Canada, Australia, China, India, Japan and Germany. History Epiroc ...

Investor AB Investor AB is a Swedish investment and ''de facto'' conglomerate holding company. It was founded in 1916 and is still controlled by the Wallenberg family through their Foundation Asset Management company FAM. The company owns a controlling st ...

Höganäs AB Höganäs AB is a Swedish multinational based in Höganäs. It is the world's largest producer of powdered metals. It develops and markets powders for customers in metallurgical industries. The company's portfolio of products and services includ ...

EQT Partners EQT AB Group is a global investment organization founded in 1994. Its funds invest in private equity, infrastructure, real estate, growth equity, and venture capital in Europe, North America, and Asia Pacific. , EQT's assets under management a ...

Scania AB Scania AB is a major Swedish manufacturer headquartered in Södertälje, focusing on commercial vehicles—specifically heavy lorries, trucks and buses. It also manufactures diesel engines for heavy vehicles as well as marine and general indus ...

Saab Automobile Saab Automobile AB () is a defunct automotive industry, car manufacturer that was founded in Sweden in 1945 when its parent company, Saab AB, began a project to design a small automobile. The first production model, the Saab 92, was launched in ...

Knut and Alice Wallenberg Foundation Knut and Alice Wallenberg Foundation (KAW) ( sv, Knut och Alice Wallenbergs Stiftelse) is a Swedish public and private foundation formed in 1917 by Knut Agathon Wallenberg and his wife Alice Wallenberg. It was created to support research in the n ...

Raoul Wallenberg Raoul Gustaf Wallenberg (4 August 1912 – disappeared 17 January 1945)He is presumed to have died in 1947, although the circumstances of his death are not clear and this date has been disputed. Some reports claim he was alive years later. 31 J ...

Budapest Budapest (, ; ) is the capital and most populous city of Hungary. It is the ninth-largest city in the European Union by population within city limits and the second-largest city on the Danube river; the city has an estimated population ...

World War II World War II or the Second World War, often abbreviated as WWII or WW2, was a world war that lasted from 1939 to 1945. It involved the vast majority of the world's countries—including all of the great powers—forming two opposin ...

Holocaust The Holocaust, also known as the Shoah, was the genocide of European Jews during World War II. Between 1941 and 1945, Nazi Germany and its collaborators systematically murdered some six million Jews across German-occupied Europe; a ...

Linköping Linköping () is a city in southern Sweden, with around 105,000 inhabitants as of 2021. It is the seat of Linköping Municipality and the capital of Östergötland County. Linköping is also the episcopal see of the Diocese of Linköping (Church ...

Östergötland Östergötland (; English exonym: East Gothland) is one of the traditional provinces of Sweden (''landskap'' in Swedish) in the south of Sweden. It borders Småland, Västergötland, Närke, Södermanland and the Baltic Sea. In older English li ...

Jacob Wallenberg Jacob Wallenberg (born 13 January 1956) is a Swedish banker and industrialist, currently serving as a board member for multiple companies. ''The Guardian'' has once quoted him as the prince in Sweden's royal family of finance. Biography Earl ...

Swedish East India Company The Swedish East India Company ( sv, Svenska Ostindiska Companiet or ''SOIC'') was founded in Gothenburg, Sweden, in 1731 for the purpose of conducting trade with China and the Far East. The venture was inspired by the success of the Dutch East ...

Uppsala University Uppsala University ( sv, Uppsala universitet) is a public university, public research university in Uppsala, Sweden. Founded in 1477, it is the List of universities in Sweden, oldest university in Sweden and the Nordic countries still in opera ...

Lund Lund (, , ) is a city in the southern Swedish provinces of Sweden, province of Scania, across the Øresund, Öresund strait from Copenhagen. The town had 91,940 inhabitants out of a municipal total of 121,510 . It is the seat of Lund Municipali ...

Lund university , motto = Ad utrumque , mottoeng = Prepared for both , established = , type = Public research university , budget = SEK 9 billion Bager of

Malmö Malmö (, ; da, Malmø ) is the largest city in the Swedish county (län) of Scania (Skåne). It is the third-largest city in Sweden, after Stockholm and Gothenburg, and the sixth-largest city in the Nordic region, with a municipal populat ...

. In 1802, he became a notary public in

Linköping Linköping () is a city in southern Sweden, with around 105,000 inhabitants as of 2021. It is the seat of Linköping Municipality and the capital of Östergötland County. Linköping is also the episcopal see of the Diocese of Linköping (Church ...

, and in 1805, a lecturer in Greek at Linköping university where he translated the Illiad and Odyssey from Greek to Swedish. He was ordained in 1817, promoted ''doctor of theology'' around the time of

Karl XIV Johan sv, Karl Johan Baptist Julius , spouse = , issue = Oscar I of Sweden , house = Bernadotte , father = Henri Bernadotte , mother = Jeanne de Saint-Jean , birth_date = , birth_place = Pau, ...

's ascension to the throne, and between 1819 and 1833, held the position as bishop of Linköping diocese. He attended the Riksdags in 1823 and between 1828 to 1830. In 1801, Wallenberg was elected a member of the Swedish ''Royal Academy of Music'' and in 1821, he became an honorary member of the ''Royal Swedish Academy of Letters, History and Antiquities''. Marcus Wallenberg was a freemason and a member of the masonic lodges in

Malmö Malmö (, ; da, Malmø ) is the largest city in the Swedish county (län) of Scania (Skåne). It is the third-largest city in Sweden, after Stockholm and Gothenburg, and the sixth-largest city in the Nordic region, with a municipal populat ...

and

Lund Lund (, , ) is a city in the southern Swedish provinces of Sweden, province of Scania, across the Øresund, Öresund strait from Copenhagen. The town had 91,940 inhabitants out of a municipal total of 121,510 . It is the seat of Lund Municipali ...

in the province of

Scania Scania, also known by its native name of Skåne (, ), is the southernmost of the historical provinces of Sweden, provinces (''landskap'') of Sweden. Located in the south tip of the geographical region of Götaland, the province is roughly conte ...

. He was also one of the initiators behind the masonic lodge in

Linköping Linköping () is a city in southern Sweden, with around 105,000 inhabitants as of 2021. It is the seat of Linköping Municipality and the capital of Östergötland County. Linköping is also the episcopal see of the Diocese of Linköping (Church ...

.

André Oscar Wallenberg, the founder of the banking dynasty

André Oscar Wallenberg was born on the 19th of November, 1816, in

Linköping Linköping () is a city in southern Sweden, with around 105,000 inhabitants as of 2021. It is the seat of Linköping Municipality and the capital of Östergötland County. Linköping is also the episcopal see of the Diocese of Linköping (Church ...

where his father held the position as bishop in Linköping cathedral. Between 1825 and 1832, he attended Linköping trivial school and high school, and in 1832, traveled as a young man to the Caribbean and became a sea cadet on his return. After graduating as a naval officer in

Karlskrona Karlskrona (, , ) is a locality and the seat of Karlskrona Municipality, Blekinge County, Sweden with a population of 66,675 in 2018. It is also the capital of Blekinge County. Karlskrona is known as Sweden's only baroque city and is host to Swed ...

in 1835, he served for a few years as a sailor on North American trunk ships and in 1837 he became an officer in the Swedish navy. Four years later he accompanied the "Oxehufvudian expedition" as first mate. The destination was the "La Plata States", that is, Argentina, Uruguay and Paraguay, but because the expedition was poorly led, he left it already in Lisbon. He then spent a year in Spain and France studying languages and law at Grenoble university, and spent a long time in

Brest Brest may refer to: Places *Brest, Belarus **Brest Region **Brest Airport **Brest Fortress * Brest, Kyustendil Province, Bulgaria * Břest, Czech Republic *Brest, France ** Arrondissement of Brest **Brest Bretagne Airport ** Château de Brest *Br ...

studying their shipyards and workshops. Wallenberg-mausoleum tempel 2015

In 1850, Wallenberg was commanded to

Sundsvall Sundsvall () is a city and the seat of Sundsvall Municipality in Västernorrland County, Sweden. It has a population of 58,807 as of 2020; more than 95,000 live in the municipal area. It is Sweden's 21st largest city by population. History Th ...

as first lieutenant and head of a boatman company. He swore the burgher oath in Sundsvall, and became a burgher of Sundsvall and later elected to the Swedish parliament. He resigned from the military service in 1851 as first lieutenant. He became friends with the sawmill owner and industrialist Fredrik Bünsow and mediated loans to him at the acquisition of Skönvik in 1856, which became the origin of Skönviks AB, much later a cornerstone of the

SCA (company) Svenska Cellulosa AB (SCA, English: ''Swedish Cellulose Ltd.'') is a Swedish forest industry company with headquarters in Sundsvall. SCA is the largest private forest owner in Europe. It owns 2.6 million hectares of forest in northern Swed ...

. Wallenberg and Bünsow also founded the city's first brewery, Sundsvalls Ölbryggeri in 1858. Wallenberg also represented the city as a Member of Parliament. Malmvik 2008a

As a banker, he was a pioneer in Europe. Already during his stay in the United States in 1837, at the time of the

Panic of 1837 The Panic of 1837 was a financial crisis in the United States that touched off a major depression, which lasted until the mid-1840s. Profits, prices, and wages went down, westward expansion was stalled, unemployment went up, and pessimism abound ...

, he wanted to become a banker. He had "learned how banks should not be run". He became Sundsvallsbanken's first manager. In 1856 he formed

Stockholms Enskilda Bank Stockholms Enskilda Bank, sometimes called Enskilda banken or SEB, was a Swedish bank, founded in 1856 by André Oscar Wallenberg as Stockholm's first private bank. In 1857, Stockholms Enskilda Bank began to employ women, claiming to be the fir ...

, which was modelled after the Scottish banking system, and was until his death its president. He introduced the postal exchange, which simplified the possibilities of transferring money between different locations, still almost unknown outside Sweden, and through a comparatively high deposit rate, the deposit, depreciation and amortisation business developed. The bank's capital was made up of deposits from the public and not, as with previous banks, through private banknote issuance. The business idea was that if the savers left the money tied up in an account for a longer period of time, they would receive a higher interest rate. In addition to the modernisation of banking legislation, Wallenberg contributed to the introduction of the meter system and increased rights for women, among other things by being the first in Europe to allow women to work in banks ( Alida Rossander), and allow women to open their own bank accounts. Wallenberg-mausoleum 2015

A.O., which he is called in the family, also became involved in many industries, including Atlas Diesel, which later would become

Atlas Copco Atlas Copco (Copco from Compagnie Pneumatique Commerciale) is a Swedish multinational industrial company that was founded in 1873. It manufactures industrial tools and equipment. The Atlas Copco Group is a global industrial group of companies h ...

and several railway companies. In 1864 he also became a driving force behind the founding of Sweden's first bank limited company, Skandinaviska Kreditaktiebolaget (later Skandinaviska Banken). He was a co-owner and employee of "Bore" in 1848–51 and provided both pecuniary support and articles for "Stockholmsposten" 1869–70. In

Aftonbladet ''Aftonbladet'' (, lit. "The evening paper") is a Swedish daily newspaper published in Stockholm, Sweden. It is one of the largest daily newspapers in the Nordic countries. History and profile The newspaper was founded by Lars Johan H ...

he wrote almost regularly once a week "Ekonomiskt", ''Economic'', between 1865-68. He was a member of the bourgeoisie 1853–63. After the change of representation, he represented the city of Stockholm in the First Chamber from the beginning of the new state until his death. He died in January 1886 in Stockholm and was buried in the Wallenberg Mausoleum at Malmvik. He was married twice; first to Wilhelmina Catharina Andersson, and in his second to Miss Anna Eleonora Charlotte von Sydow, born 1835, died 1910 in Stockholm, daughter of the commander, later Rear Admiral Johan Gustaf von Sydow and his second wife Eleonora Juliana Wiggman. He had a total of twenty children with three different women.

Late 19th and early 20th century — 2nd generation Wallenbergs

Knut Agathon Wallenberg

Knut Agathon Wallenberg Knut Agathon Wallenberg (19 May 1853 – 1 June 1938) was a Swedish banker and politician, he was also a Knight of the Order of the Seraphim. Wallenberg was Minister for Foreign Affairs 1914–1917, and member of the Riksdag's ''Första kammaren ...

, like his father

André Oscar Wallenberg André Oscar Wallenberg (19 November 1816 – 12 January 1886) was a Sweden, Swedish banker, industrialist, naval officer, Business magnate, newspaper tycoon, politician and a patriarch of the Wallenberg family. In 1856 Wallenberg founded the Sto ...

, was trained as a naval officer, at ''Naval School of Warfare''. In 1876, he attended Georgiis' Banking Institution, and then gained an early banking internship in Paris at

Credit Lyonnais Credit (from Latin verb ''credit'', meaning "one believes") is the trust which allows one party to provide money or resources to another party wherein the second party does not reimburse the first party immediately (thereby generating a debt) ...

. Upon his father's death in 1886, Knut Agathon became President of

Stockholms Enskilda Bank Stockholms Enskilda Bank, sometimes called Enskilda banken or SEB, was a Swedish bank, founded in 1856 by André Oscar Wallenberg as Stockholm's first private bank. In 1857, Stockholms Enskilda Bank began to employ women, claiming to be the fir ...

. This took place at the same time as an intensive investment period in Swedish business began. During this time,

Stockholms Enskilda Bank Stockholms Enskilda Bank, sometimes called Enskilda banken or SEB, was a Swedish bank, founded in 1856 by André Oscar Wallenberg as Stockholm's first private bank. In 1857, Stockholms Enskilda Bank began to employ women, claiming to be the fir ...

played an innovative role by connecting the French capital market with the demand for credit in the rapidly expanding Swedish industry. The bank played an important role in financing Sweden's breakthrough as an industrial nation.

Knut Agathon Wallenberg Knut Agathon Wallenberg (19 May 1853 – 1 June 1938) was a Swedish banker and politician, he was also a Knight of the Order of the Seraphim. Wallenberg was Minister for Foreign Affairs 1914–1917, and member of the Riksdag's ''Första kammaren ...

created a very large fortune and a leading position in Swedish society. He was involved in everything from reconstructions in the mining industry and engineering companies to the exploitation of the ore fields in

Norrbotten Norrbotten (), known in English as North Bothnia, is a Swedish province (''landskap'') in northernmost Sweden. It borders south to Västerbotten, west to Swedish Lapland, and east to Finland. Administration The traditional provinces of Swede ...

. Wallenberg was intensely involved in various societal issues, not least in Stockholm's development. For more than 30 years, he was active in municipal politics in the capital, as a member of the Stockholm City Council 1883–1914. He was also a Member of the Riksdag in the First Chamber for more than a decade, 1907–1919, and Minister of Foreign Affairs during the war years 1914–1917. In his position as Foreign Minister, he was seen, especially by the left, as a counterweight to the German-oriented forces in government. He was the initiator, lender, donor and driving force behind a large number of contemporary construction projects, mainly in Stockholm, including the

Royal Swedish Opera Royal Swedish Opera ( sv, Kungliga Operan) is an opera and ballet company based in Stockholm, Sweden. Location and environment The building is located in the center of Sweden's capital Stockholm in the borough of Norrmalm, on the eastern side ...

,

Stockholm School of Economics The Stockholm School of Economics (SSE; sv, Handelshögskolan i Stockholm, HHS) is a private business school located in city district Vasastaden in the central part of Stockholm, Sweden. SSE offers BSc, MSc and MBA programs, along with ...

,

Stockholm City Hall Stockholm City Hall ( sv, Stockholms stadshus, ''Stadshuset'' locally) is the seat of Stockholm Municipality in Stockholm, Sweden. It stands on the eastern tip of Kungsholmen island, next to Riddarfjärden's northern shore and facing the islands ...

,

Stockholm City Library Stockholm Public Library (Swedish: ''Stockholms stadsbibliotek'' or ''Stadsbiblioteket'') is a library building in Stockholm, Sweden, designed by Swedish architect Gunnar Asplund, and one of the city's most notable structures. The name is today u ...

, Swedish Maritime History Museum and the

Swedish Institute in Rome The Swedish Institute in Rome ( sv, Svenska institutet i Rom, it, Istituto Svedese di studi classici a Roma) is a research institution that serves as the base for archaeological excavations and other scientific research in Italy. It also pursues ...

. He was also the initiator and driving force behind the development of the community

Saltsjöbaden Saltsjöbaden is a locality in Nacka Municipality, Stockholm County, Sweden with 9,491 inhabitants in 2010. It is on the Baltic Sea coast, deep in the Stockholm Archipelago. History Saltsjöbaden () was developed as a resort by Knut Agathon Wa ...

, its residential town, railway,

Grand Hotel Saltsjöbaden The Grand Hotel Saltsjöbaden is a hotel in Saltsjöbaden, Sweden. Built on the initiative of Knut Agathon Wallenberg, it was opened in 1893 by King Oscar II of Sweden. The hotel was owned by the Wallenberg family until 1999, when it was purchased ...

, the Church of Revelation where he and his wife Alice are buried in a sarcophagus, and the Observatory. Grand Hotel Saltsjöbaden 2015

In 1903, following a proposal from businessmen in the Swedish business community,

Knut Agathon Wallenberg Knut Agathon Wallenberg (19 May 1853 – 1 June 1938) was a Swedish banker and politician, he was also a Knight of the Order of the Seraphim. Wallenberg was Minister for Foreign Affairs 1914–1917, and member of the Riksdag's ''Första kammaren ...

donated a large sum to the founding of a business school in Stockholm. The money was used by the School of Business, Economics and Law, which was established in 1906 to found the

Stockholm School of Economics The Stockholm School of Economics (SSE; sv, Handelshögskolan i Stockholm, HHS) is a private business school located in city district Vasastaden in the central part of Stockholm, Sweden. SSE offers BSc, MSc and MBA programs, along with ...

in 1909, which is still financed and controlled by the Wallenbergs today and has, since then, sister schools in Riga, Latvia, and St.Petersburg, Russia. Wallenberg was chairman of the Swedish School of Economics 'Association, the Swedish School of Economics' highest decision-making body, 1906–1938. He was also vice chairman of the board of the

Stockholm School of Economics The Stockholm School of Economics (SSE; sv, Handelshögskolan i Stockholm, HHS) is a private business school located in city district Vasastaden in the central part of Stockholm, Sweden. SSE offers BSc, MSc and MBA programs, along with ...

, the university's highest executive body, 1909–1938. He donated funds for the establishment of André Oscar Wallenberg's professorship in economics and banking at the university in 1917, a donation professorship named after his father. The donation professorship still exists today and has been held since 1995 by Jörgen Weibull. He also made large donations to finance the university's new main building at Sveavägen 65 in Stockholm.

British Bank of Northern Commerce The British Bank of Northern Commerce was founded in February 1912 by Knut Agathon Wallenberg of the Stockholms Enskilda Bank and Emil Glückstadt of Landmandsbanken (Copenhagen), together with several other banks including Centralbanken for Nor ...

was founded in February 1912 by

Knut Agathon Wallenberg Knut Agathon Wallenberg (19 May 1853 – 1 June 1938) was a Swedish banker and politician, he was also a Knight of the Order of the Seraphim. Wallenberg was Minister for Foreign Affairs 1914–1917, and member of the Riksdag's ''Första kammaren ...

and

Emil Glückstadt Emil or Emile may refer to: Literature *'' Emile, or On Education'' (1762), a treatise on education by Jean-Jacques Rousseau * ''Émile'' (novel) (1827), an autobiographical novel based on Émile de Girardin's early life *'' Emil and the Detecti ...

of ''Landmandsbanken'' together with several other banks including ''Centralbanken of Norway'' in Oslo, ''Banque de Commerce de l'Azoff-Don'' in St.Petersburg, and

Banque de Paris et des Pays Bas BNP Paribas is a French international banking group, founded in 2000 from the merger between Banque Nationale de Paris (BNP, "National Bank of Paris") and Paribas, formerly known as the Banque de Paris et des Pays-Bas. The full name of the grou ...

in Paris. The purpose of the bank was to facilitate trade between the United Kingdom and northern Europe. The bank financed Finland after the country achieved its independence from Russia in 1917–18. In June 1919 the bank offered the chairmanship of its board to

John Maynard Keynes John Maynard Keynes, 1st Baron Keynes, ( ; 5 June 1883 – 21 April 1946), was an English economist whose ideas fundamentally changed the theory and practice of macroeconomics and the economic policies of governments. Originally trained in ...

with the assurance that in return for a salary of £2000 the job would only take a morning a week. Keynes had met Knut Agathon Wallenberg and Glückstadt during World War I and believed the offer was attractive. However, Keynes consulted with several bankers in the city and turned the offer. In October 1920 British Bank of Northern Commerce merged with C.J. Hambro & Sons, rebranded Hambros Bank of Northern Commerce. In August 1921 the bank shortened its name to

Hambros Bank Hambros Bank was a British bank based in London. The Hambros bank was a specialist in Anglo-Scandinavian business with expertise in trade finance and investment banking, and was the sole banker to the Scandinavian kingdoms for many years. The Bank ...

. He was chairman of the board of directors of the pension company Alecta between 1916 and 1938. In 1938,

Knut Agathon Wallenberg Knut Agathon Wallenberg (19 May 1853 – 1 June 1938) was a Swedish banker and politician, he was also a Knight of the Order of the Seraphim. Wallenberg was Minister for Foreign Affairs 1914–1917, and member of the Riksdag's ''Första kammaren ...

died. His wife, Alice, and he, had no issue, apart from an adopted daughter, Jeanne, born out of wedlock to

Jean Karadja Pasha Prince Jean Constantin Alexandre Othon Karadja Pasha (March 9, 1835 in Nauplia – August 11, 1894 in The Hague) was a Phanariot army officer and diplomat of the Ottoman Empire. He was also a talented pianist and composer. Family Jean was the ...

, and thus half-sister to

Constantin Karadja Prince Constantin Jean Lars Anthony Démétrius Karadja (24 November 1889 in The Hague – 28 December 1950 in Bucharest) was a Romanian diplomat, barrister-at-law, bibliographer, bibliophile and honorary member (1946) of the Romanian Academy. He ...

, and chose to bequeath his enormous fortune to the already formed

Knut and Alice Wallenberg Foundation Knut and Alice Wallenberg Foundation (KAW) ( sv, Knut och Alice Wallenbergs Stiftelse) is a Swedish public and private foundation formed in 1917 by Knut Agathon Wallenberg and his wife Alice Wallenberg. It was created to support research in the n ...

.

Marcus Wallenberg Sr.

The-tribunal-in-Enskilda-Bank-352106882098

Knut Agathon Wallenberg's younger brother

Marcus Wallenberg Sr. Marcus Laurentius Wallenberg, Sr. (5 March 1864 – 22 July 1943) was a Swedish banker. He served as CEO of Stockholms Enskilda Bank (SEB) from 1911 to 1920. Early life Wallenberg was born on 5 March 1864 in Stockholm, Sweden, the son of And ...

carried on the tradition and took over as the bank's CEO in 1911, replacing his older brother who was appointed

Stockholms Enskilda Bank Stockholms Enskilda Bank, sometimes called Enskilda banken or SEB, was a Swedish bank, founded in 1856 by André Oscar Wallenberg as Stockholm's first private bank. In 1857, Stockholms Enskilda Bank began to employ women, claiming to be the fir ...

chairman The chairperson, also chairman, chairwoman or chair, is the presiding officer of an organized group such as a board, committee, or deliberative assembly. The person holding the office, who is typically elected or appointed by members of the grou ...

of the board. Marcus Laurentius Wallenberg Sr

Marcus Wallenberg Sr. Marcus Laurentius Wallenberg, Sr. (5 March 1864 – 22 July 1943) was a Swedish banker. He served as CEO of Stockholms Enskilda Bank (SEB) from 1911 to 1920. Early life Wallenberg was born on 5 March 1864 in Stockholm, Sweden, the son of And ...

, commonly called ''häradshövdingen'', the ''circuit judge'', due to his law degree, was the great initiative force in the family's industrial commitments; founding, reorganising and reconstructing companies. In addition to this, had an active career on the world stage, as a member of many committees. He founded ''Centralbanken of Norway'', ''AB Emissionsinstitutet'', ''Papyrus AB'', ''Swedish Diesel Company'', ''Swedish-Russian-Danish Telephone Aktiebolaget'', ''Mexican Telephone AB Ericsson'', reorganising of ''Nordiska trävaru AB'', ''Kopparbergs & Hofors Sawmill AB'', and of ''Wifstavarfs AB''. He founded, together with

Sam Eyde Samuel Eyde (29 October 1866 – 21 June 1940) was a Norwegian engineer and industrialist. He was the founder of both Norsk Hydro and Elkem. Personal life Eyde was born in Arendal in Aust-Agder, Norway. He was a son of ship-owner Samuel Eyde (181 ...

and

Kristian Birkeland Kristian Olaf Bernhard Birkeland (13 December 1867 – 15 June 1917) was a Norwegian scientist. He is best remembered for his theories of atmospheric electric currents that elucidated the nature of the aurora borealis. In order to fund his resea ...

,

Norsk Hydro Norsk Hydro ASA (often referred to as just ''Hydro'') is a Norwegian aluminium and renewable energy company, headquartered in Oslo. It is one of the largest aluminium companies worldwide. It has operations in some 50 countries around the world an ...

, and not the least, saved

ASEA ''Allmänna Svenska Elektriska Aktiebolaget'' (English translation: General Swedish Electrical Limited Company; Swedish abbreviation: ASEA) was a Swedish industrial company. History ASEA was founded in 1883 by Ludvig Fredholm in Västerås as ...

(

ABB ABB Ltd. is a Swedish- Swiss multinational corporation headquartered in Zürich, Switzerland. The company was formed in 1988 when Sweden's Allmänna Svenska Elektriska Aktiebolaget (ASEA) and Switzerland's Brown, Boveri & Cie merged to crea ...

) from bankruptcy. He was the main representative in Sweden of the modern pursuit of industry concentration under the leadership of the major banks. Together with Erik Johan Ljungberg, he founded the Federation of Swedish Industries. His international career is characterised by his involvement on many committees. During World War I, he was repeatedly called upon to bring about trade agreements with England and its allies vis-à-vis the

Russian Revolution The Russian Revolution was a period of Political revolution (Trotskyism), political and social revolution that took place in the former Russian Empire which began during the First World War. This period saw Russia abolish its monarchy and ad ...

, the Sykes-Picot agreement and the

Balfour Declaration The Balfour Declaration was a public statement issued by the British government in 1917 during the First World War announcing its support for the establishment of a "national home for the Jewish people" in Palestine, then an Ottoman regio ...

. In the winter of 1919, Wallenberg had to monitor Sweden's interests in financial matters on behalf of the Swedish government during the Paris Peace Conference and in 1920 was Sweden's representative at the Brussels Finance Conference. In 1920, he became a member of the League of Nations' newly established Financial Committee, of which he was Chairman from 1921 to 1922. In 1921, Wallenberg founded the

Swedish Taxpayers' Association The Swedish Taxpayers' Association ( sv, Skattebetalarnas förening) is an association and taxpayers union in Sweden which advocates low taxes and efficiency in the public sector. The association was first founded in 1921 and since then has grown v ...

. Wallenberg participated in leading positions in the implementation of the

Dawes Plan The Dawes Plan (as proposed by the Dawes Committee, chaired by Charles G. Dawes) was a plan in 1924 that successfully resolved the issue of World War I reparations that Germany had to pay. It ended a crisis in European diplomacy following Wor ...

. He was Chairman of the ''Committee on the German Industry's encumberment'', a Chairman of the ''Committee for the Arrangement of Germany's Natural Supplies'', the arbitrator in disputes between the German government and the ''Repair Committee'', which was responsible for the Allies' establishment of a functional infrastructure between 1925 and 1930. He was responsible for the interpretation of the

Young Plan The Young Plan was a program for settling Germany's World War I reparations. It was written in August 1929 and formally adopted in 1930. It was presented by the committee headed (1929–30) by American industrialist Owen D. Young, founder and for ...

in 1930. Between 1931 and 1934,

Marcus Wallenberg Sr. Marcus Laurentius Wallenberg, Sr. (5 March 1864 – 22 July 1943) was a Swedish banker. He served as CEO of Stockholms Enskilda Bank (SEB) from 1911 to 1920. Early life Wallenberg was born on 5 March 1864 in Stockholm, Sweden, the son of And ...

was the Chairman of the ''Arbitration Court'', which dealt with short-term German credits in the establishment of the German moratorium, established in 1932 in Lausanne. In 1931,

Marcus Wallenberg Sr. Marcus Laurentius Wallenberg, Sr. (5 March 1864 – 22 July 1943) was a Swedish banker. He served as CEO of Stockholms Enskilda Bank (SEB) from 1911 to 1920. Early life Wallenberg was born on 5 March 1864 in Stockholm, Sweden, the son of And ...

, along with

Hjalmar Schacht Hjalmar Schacht (born Horace Greeley Hjalmar Schacht; 22 January 1877 – 3 June 1970, ) was a German economist, banker, centre-right politician, and co-founder in 1918 of the German Democratic Party. He served as the Currency Commissioner a ...

, was also appointed as an expert by the German government to reconstruct the German banking system in order to adapt it to the

Bank of International Settlements The Bank for International Settlements (BIS) is an international financial institution owned by central banks that "fosters international monetary and financial cooperation and serves as a bank for central banks". The BIS carries out its work thr ...

.

Marcus Wallenberg Sr. Marcus Laurentius Wallenberg, Sr. (5 March 1864 – 22 July 1943) was a Swedish banker. He served as CEO of Stockholms Enskilda Bank (SEB) from 1911 to 1920. Early life Wallenberg was born on 5 March 1864 in Stockholm, Sweden, the son of And ...

sat on the ''Credits Arbitration Committee'' with Thomas H. McKittrick and

Franz Urbig Franz Urbig (23 January 1864 – 28 September 1944) was a German banker. He joined the Disconto-Gesellschaft as a trainee on 15 July 1884 and built much of his career and reputation within this bank in Southeast Asia during the final part of the ...

, which solved disputes between German commercial banks.

Marcus Wallenberg Sr. Marcus Laurentius Wallenberg, Sr. (5 March 1864 – 22 July 1943) was a Swedish banker. He served as CEO of Stockholms Enskilda Bank (SEB) from 1911 to 1920. Early life Wallenberg was born on 5 March 1864 in Stockholm, Sweden, the son of And ...

taught McKittrick about the complicated international finances, and was an important mentor to the American throughout his presidency of the

Bank for International Settlements The Bank for International Settlements (BIS) is an international financial institution owned by central banks that "fosters international monetary and financial cooperation and serves as a bank for central banks". The BIS carries out its work thr ...

, teaching him to play both sides simultaneously in the war, which would guarantee the banks and business empires future existence regardless of the outcome. McKittrick wrote to Marcus Wallenberg Sr. in 1943, Marcus Wallenberg Sr. has been described as an eager beaver, unprententious and frugal (money would be spent on projects and not consumption), cautious regarding business, whose main focus was on work. According to the former SVT journalist and authority on

Ivar Kreuger Ivar Kreuger (; 2 March 1880 – 12 March 1932) was a Swedish civil engineer, financier, entrepreneur and industrialist. In 1908, he co-founded the construction company Kreuger & Toll Byggnads AB, which specialized in new building techniques. B ...

, Nikola Majstrovic, in his book, the ''Truth Behind the Kreuger Crash'',

Marcus Wallenberg Sr. Marcus Laurentius Wallenberg, Sr. (5 March 1864 – 22 July 1943) was a Swedish banker. He served as CEO of Stockholms Enskilda Bank (SEB) from 1911 to 1920. Early life Wallenberg was born on 5 March 1864 in Stockholm, Sweden, the son of And ...

and the banker

J. P. Morgan Jr. John Pierpont Morgan Jr. (September 7, 1867 – March 13, 1943) was an American banker, finance executive, and philanthropist. He inherited the family fortune and took over the business interests including J.P. Morgan & Co. after his father J. P ...

paid

Josef Stalin Joseph Vissarionovich Stalin (born Ioseb Besarionis dze Jughashvili; – 5 March 1953) was a Georgian revolutionary and Soviet political leader who led the Soviet Union from 1924 until his death in 1953. He held power as General Secretar ...

to orchestrate the assassination of

Ivar Kreuger Ivar Kreuger (; 2 March 1880 – 12 March 1932) was a Swedish civil engineer, financier, entrepreneur and industrialist. In 1908, he co-founded the construction company Kreuger & Toll Byggnads AB, which specialized in new building techniques. B ...

.

Gustaf Oscar Wallenberg

Marcus's brother Gustaf Oscar Wallenberg, grandfather of

Raoul Wallenberg Raoul Gustaf Wallenberg (4 August 1912 – disappeared 17 January 1945)He is presumed to have died in 1947, although the circumstances of his death are not clear and this date has been disputed. Some reports claim he was alive years later. 31 J ...

, became a lieutenant in 1882 and a captain in the Swedish navy in 1892. He left the active military service in 1891 to devote himself to business. He was particularly concerned with traffic issues and the improvement of Sweden's shipping connections. He was the managing director of the shipping company, which in 1897 took over the traffic from the Swedish side of the route Trelleborg – Sassnitz and worked within the trade and shipping committee appointed in 1898 to increase the shipping industry and especially for direct Swedish relations with more important transoceanic countries. In 1892, he became the first managing director of Järnvägs AB Stockholm – Saltsjön, but left this post in 1896. Between 1900 and 1907, he belonged to the Swedish parliament's second chamber as a representative of the city of Stockholm. At first, he described himself as independent, but from 1902 he belonged to the Liberal Coalition Party. Gustaf Oscar Wallenberg and Viceroy Duanfang in Nanjing, 1907

Gustaf Oscar Wallenberg and Viceroy Duanfang in Nanjing, 1907

After the dissolution of the union, there was a question of reorganising Sweden's diplomacy, Wallenberg was used for its tasks and in 1906 was appointed envoy to Tokyo, and in 1907, he was also accredited in Beijing. Wallenberg thus became the first permanently stationed Swedish career diplomat in East Asia. At the same time, he was promoted to commander of the 1st degree. On July 2, 1908, Wallenberg concluded a "Treaty of Friendship, Trade and Shipping" with the Chinese Qing Court. The treaty was in line with other treaties that China concluded with several Western powers around the turn of the last century. On the one hand, the Treaty reaffirmed the extensive privileges Sweden had secured with the Treaty of Canton in 1847, on the other hand, the new Treaty provided for the abolition of many of these privileges since China reformed its judiciary. Wallenberg's return trip from Tokyo attracted considerable attention in early 1918. Due to the precarious conditions caused by the war and especially the Russian Revolution, Wallenberg was stopped in Siberia, where he was detained for a long time, and then had to return to Japan and then travel across the United States. He first arrived in Sweden in February 1919. In 1920, Wallenberg was transferred to Istanbul, Turkey, as Minister. He was accredited in Sofia, Bulgaria, and held the position until 1930. He became well known for his stern refusal to let his daughter

Nita Wallenberg Ebba Maria Sassnitza Wallenberg, (11 April 1896 - 4 October 1966) was a Swedish artist known for her romance with Nils von Dardel and as the main motive of several pictures which Dardel painted during the period 1917–1920. Her third given name ...

marry the artist

Nils von Dardel Nils Dardel (full name Nils Elias Kristofer von Dardel, sometimes known as ''Nils de Dardel'') was a 20th-century Swedish Post-Impressionist painter, grandson to famous Swedish painter Fritz von Dardel. Biography Dardel was born in Bettna, S ...

to whom she became secretly engaged in 1917 Dardel was told by her family that he "dithed not meet the requirements to be married into the Wallenberg family". The risk that Dardel would take advantage of being married into the family was considered very high. Nita Wallenberg was forced to burn all of Dardel's letters and was given a place in the families bank business and told to forget her romance. Wallenberg was married twice, with Danish man Carl Johan Kierullf, and later to businessman Carl Axel Söderlund during 1930 to 1944, and had three children.

Mid 20th century — 3rd generation Wallenbergs

Jacob Wallenberg (1892–1980) Jacob "Juju" Wallenberg (27 September 1892 – 1 August 1980) was a Swedish banker and industrial leader. Wallenberg held various central positions in Stockholms Enskilda Bank. He was also chairman of the board of several companies, includin ...

, eldest son of

Marcus Wallenberg Sr. Marcus Laurentius Wallenberg, Sr. (5 March 1864 – 22 July 1943) was a Swedish banker. He served as CEO of Stockholms Enskilda Bank (SEB) from 1911 to 1920. Early life Wallenberg was born on 5 March 1864 in Stockholm, Sweden, the son of And ...

, became the CEO of Skandinaviska Enskilda Banken in 1927, joined by his younger brother Marcus Wallenberg Jr. as the deputy CEO.

World War II

During World War II, the Wallenberg-owned bank,

Stockholms Enskilda Bank Stockholms Enskilda Bank, sometimes called Enskilda banken or SEB, was a Swedish bank, founded in 1856 by André Oscar Wallenberg as Stockholm's first private bank. In 1857, Stockholms Enskilda Bank began to employ women, claiming to be the fir ...

, collaborated with the German government, and assisted Nazi-Germany in a variety of ways.

Stockholms Enskilda Bank Stockholms Enskilda Bank, sometimes called Enskilda banken or SEB, was a Swedish bank, founded in 1856 by André Oscar Wallenberg as Stockholm's first private bank. In 1857, Stockholms Enskilda Bank began to employ women, claiming to be the fir ...

functioned as a purchasing agent for the Bosch corporation, a company that was one of the largest suppliers to Hitler. In its facility outside Berlin, it relied on prisoners of war and concentration camp prisoners as workforce. Wallenbergs pretended to buy Bosch's foreign companies so that they would not run the risk of being confiscated. At the end of the war, the secret contracts were discovered in a basement in Stuttgart by the American forces. Jacob Wallenberg (1892-1980)

The Wallenbergs had been given a hefty commission fee to buy Bosch shares abroad and they, in return, gave Bosch the absolute right to buy them back when the war was over. The Wallenberg-owned ball-bearing multinational,

SKF AB SKF (Swedish: ''Svenska Kullagerfabriken''; 'Swedish Ball Bearing Factory') is a Swedish bearing and seal manufacturing company founded in Gothenburg, Sweden, in 1907. The company manufactures and supplies bearings, seals, lubrication and l ...

, supplied the German military with ball-bearing, and had a monopoly on it in Europe.

SKF AB SKF (Swedish: ''Svenska Kullagerfabriken''; 'Swedish Ball Bearing Factory') is a Swedish bearing and seal manufacturing company founded in Gothenburg, Sweden, in 1907. The company manufactures and supplies bearings, seals, lubrication and l ...

's ball-bearings were Sweden's most important strategic contribution to German war production. In the spring of 1944, the Swedish government along with the Wallenbergs, promised the Allies that the export of ball-bearings would cease. However, SKF continued to export. When this could not be done legally, the ball-bearings were smuggled to Germany. As late as 1945, SKF sold ball-bearing steel and ball-bearing machines to Hitler. In addition to ball-bearing, the Wallenbergs' assisted by supplying the Germans with iron-ore from the mines in Northern Sweden and heavy water, aluminium and chemicals for explosives from

Norsk Hydro Norsk Hydro ASA (often referred to as just ''Hydro'') is a Norwegian aluminium and renewable energy company, headquartered in Oslo. It is one of the largest aluminium companies worldwide. It has operations in some 50 countries around the world an ...

, which had been founded by the Wallenbergs. At the plants in

Rjukan Rjukan () is a town and the administrative centre of Tinn municipality in Telemark, Norway. It is situated in Vestfjorddalen, between Møsvatn and Lake Tinn, and got its name after Rjukan Falls west of the town. The Tinn municipality council grant ...

in Norway, Norsk Hydro, together with the Swiss firm

Escher-Wyss Escher Wyss & Cie., also known as Escher Wyss AG, was a Swiss industrial company with a focus on engineering and turbine construction. Its headquarters were in the Zürich quarter of Escher Wyss, which takes its name from the company. Histo ...

, cooperated on the Nazi-Germany's nuclear weapons program.

Marcus Wallenberg Sr. Marcus Laurentius Wallenberg, Sr. (5 March 1864 – 22 July 1943) was a Swedish banker. He served as CEO of Stockholms Enskilda Bank (SEB) from 1911 to 1920. Early life Wallenberg was born on 5 March 1864 in Stockholm, Sweden, the son of And ...

was Chairman of the board of Norsk Hydro as late as 1941. Wallenbergs' Norsk Hydro co-owned the aluminum factory in Heröya, Norway, with

IG Farben Interessengemeinschaft Farbenindustrie AG (), commonly known as IG Farben (German for 'IG Dyestuffs'), was a German chemical and pharmaceutical conglomerate (company), conglomerate. Formed in 1925 from a merger of six chemical companies—BASF, ...

and the German state. The German state ownership of the aluminum plant came in part from shares stolen by French Jews. In 1943, at least a quarter of the workforce at the factory were forced laborers from the Soviet Union, Norway and Poland. At the same time, there were several Swedish technicians on site in the factory. Wallenberg-owned Stockholms Superfosfat Fabriks AB (today

AkzoNobel Akzo Nobel N.V., stylized as AkzoNobel, is a Dutch multinational company which creates paints and performance coatings for both industry and consumers worldwide. Headquartered in Amsterdam, the company has activities in more than 80 countries, ...

), shortened Fosfatbolaget, delivered heavy water from their plant in Ljungaverk, Sweden, to the Nazi-Germany nuclear program and the

Manhattan project The Manhattan Project was a research and development undertaking during World War II that produced the first nuclear weapons. It was led by the United States with the support of the United Kingdom and Canada. From 1942 to 1946, the project w ...

.

Wallenbergs also did business with

IG Farben Interessengemeinschaft Farbenindustrie AG (), commonly known as IG Farben (German for 'IG Dyestuffs'), was a German chemical and pharmaceutical conglomerate (company), conglomerate. Formed in 1925 from a merger of six chemical companies—BASF, ...

and owned large number of shares in the parent company. The IG Farben patent was hidden in Sweden. Jacob dealt with the Germans in Berlin, while Marcus dealt with the British and Americans in London and New York, in which cities he was friends with the banking elite. His ex-wife, Dorothy Mackay, had married the London banker

Charles Jocelyn Hambro Air Commodore Sir Charles Jocelyn Hambro, (3 October 189728 August 1963) was a British merchant banker and intelligence officer. Life Hambro was born into a banking family of Danish Jewish origin which had settled in Dorset and the City of Lo ...

. Jacob was awarded the Grand Cross of the

Order of the German Eagle The Order of Merit of the German Eagle (german: Verdienstorden vom Deutschen Adler) was an award of the German Nazi regime, predominantly to foreign diplomats. The Order was instituted on 1 May 1937 by Adolf Hitler. It ceased to be awarded follo ...

in Berlin in 1941. The Secretary of the US Treasury,

Henry Morgenthau Jr Henry Morgenthau Jr. (; May 11, 1891February 6, 1967) was the United States Secretary of the Treasury during most of the administration of Franklin D. Roosevelt. He played a major role in designing and financing the New Deal. After 1937, while s ...

. considered Jacob Wallenberg strongly pro-German, and the US subjected the bank to a blockade that was only lifted in 1947 after the Safehaven-negotiations in Washington, DC, at which the Wallenbergs were defended by

John Foster Dulles John Foster Dulles (, ; February 25, 1888 – May 24, 1959) was an American diplomat, lawyer, and Republican Party politician. He served as United States Secretary of State under President Dwight D. Eisenhower from 1953 to 1959 and was briefly ...

,. The Dulles brothers were friends of the Wallenberg family. According to the chief of T-Bureau, Thede Palm, an acquaintant of Marcus Wallenberg Jr., the Wallenberg-owned Stockholm Enskilda Banken undertook to manage the Swedish Central Bank, Riksbanken, and other matters, if necessary - the same bank that stored, during World War II, the Nazi Gold, Raubgold, property confiscated from occupied lands (for example, from Jews), which included gold from molten jewelry, dental gold and gold bars. Marcus Wallenberg Jr at ICC headquarters in Paris, 1981

Marcus Wallenberg Jr at ICC headquarters in Paris, 1981

Post-war Period

During the 1950s, Marcus Wallenberg Jr. gradually advanced his positions in industry, becoming the ''King of Industry'', the most active person in industrial projects of the 20th century, and the man who laid the foundation for the ''Swedish industrial miracle''. He was involved in everything from civil aviation, military aviation, nuclear power, telecommunication, computer industry, banking sector, steel industry, cars. In a talk in

Falun Falun () is a city and the seat of Falun Municipality in Dalarna County, Sweden, with 37,291 inhabitants in 2010. It is also the capital of Dalarna County. Falun forms, together with Borlänge, a metropolitan area with just over 100,000 inhabita ...

in 1954, in which he laid out his visions, he talked about supersonic planes, expressways, huge parking areas on the outskirts of cities, transistors on metal plates, which would enable "pocket phones", three-dimensional color television, fully automatic factories, mathematics machines, atomic power, radioactive sterilisation of fresh produce, synthetic materials and medicines. In the late 50s, Marcus Wallenberg Jr. was active on sixty company boards.

Late 20th century — 4th generation Wallenbergs

The two sons of Marcus Wallenberg Jr., Marc and Peter, joined the

family business A family business is a commercial organization in which decision-making is influenced by multiple generations of a family, related by blood or marriage or adoption, who has both the ability to influence the vision of the business and the willingn ...

in 1953, including

heir apparent An heir apparent, often shortened to heir, is a person who is first in an order of succession and cannot be displaced from inheriting by the birth of another person; a person who is first in the order of succession but can be displaced by the b ...

Marc Wallenberg Marc "Boy-boy" Wallenberg (28 June 1924 – 19 November 1971) was a Swedish banker and business manager. A member of the prominent Wallenberg family, Marc Wallenberg was CEO of Stockholms Enskilda Bank until his death in 1971. Early life Walle ...

, eldest son of Marcus Wallenberg Jr., who became a deputy CEO at

Stockholms Enskilda Bank Stockholms Enskilda Bank, sometimes called Enskilda banken or SEB, was a Swedish bank, founded in 1856 by André Oscar Wallenberg as Stockholm's first private bank. In 1857, Stockholms Enskilda Bank began to employ women, claiming to be the fir ...

in 1953, before taking over as CEO in 1958. The brother of Marcus Wallenberg Jr., Jacob Wallenberg, resigned as CEO. The mother of the two, including their sister Ann-Mari, was the Scotswoman, Dorothy Mackay. After the divorce between Marcus Wallenberg and Dorothy, the sons were brought up by their father in Sweden, whereas their sister Ann-Mari, was brought up in

United Kingdom The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain, is a country in Europe, off the north-western coast of the continental mainland. It comprises England, Scotland, Wales and North ...

by her mother. In his younger years, Peter Wallenberg often referred to his father as ''cruel'', but later changed to ''very demanding''. He was reminded daily of how inept he was by his father, and later in life, either ignored or ridiculed by him in front of other CEOs in the sphere. The favourite son Marc received the same strict upbringing: any sign of weakness would be suppressed. Marc Wallenberg studied at

Harvard Business School Harvard Business School (HBS) is the graduate business school of Harvard University, a private research university in Boston, Massachusetts. It is consistently ranked among the top business schools in the world and offers a large full-time MBA p ...

and practiced in Geneva, at

Crédit Lyonnais The Crédit Lyonnais (, "Lyon Credit ompany) was a major French bank, created in 1863 and absorbed by former rival Crédit Agricole in 2003. Its head office was initially in Lyon but moved to Paris in 1882. In the early years of the 20th cent ...

and

Paribas The Banque de Paris et des Pays-Bas (“Bank of Paris and the Netherlands”), generally referred to from 1982 as Paribas, was a French investment bank based in Paris. In May 2000, it merged with the Banque Nationale de Paris to form BNP Paribas. ...

in Paris, Hambros in London and in New York, at

Morgan Stanley Morgan Stanley is an American multinational investment management and financial services company headquartered at 1585 Broadway in Midtown Manhattan, New York City. With offices in more than 41 countries and more than 75,000 employees, the fir ...

, National City (

Citibank Citibank, N. A. (N. A. stands for " National Association") is the primary U.S. banking subsidiary of financial services multinational Citigroup. Citibank was founded in 1812 as the City Bank of New York, and later became First National City ...

) and Brown Brothers Harriman & Co. Marc spent several summers as a guest of families such as the Morgans and

Rockefellers The Rockefeller family () is an American industrial, political, and banking family that owns one of the world's largest fortunes. The fortune was made in the American petroleum industry during the late 19th and early 20th centuries by brot ...

, friends of his father, uncle and grandfather.

David Rockefeller David Rockefeller (June 12, 1915 – March 20, 2017) was an American investment banker who served as chairman and chief executive of Chase Manhattan Corporation. He was the oldest living member of the third generation of the Rockefeller family, ...

was a teenage friend of Marc Wallenberg. The resignation by Jacob Wallenberg opened a seat on the bank's board of directors to

Peter Wallenberg Sr. Peter "Pirre" Wallenberg Sr. (29 May 1926 – 19 January 2015) was a Swedish business leader who was chairman of Investor AB for ten years. Early life and education Wallenberg was born in Skeppsholm Parish, Stockholm, Sweden, into the Wallenbe ...

, younger son of Marcus Wallenberg Jr., who turned down the offer, instead entering the industry and the Wallenberg-owned

Atlas Copco Atlas Copco (Copco from Compagnie Pneumatique Commerciale) is a Swedish multinational industrial company that was founded in 1873. It manufactures industrial tools and equipment. The Atlas Copco Group is a global industrial group of companies h ...

, spending significant time abroad in South Africa, US and UK. Marcus Wallenberg Jr. pushed through a

merger Mergers and acquisitions (M&A) are business transactions in which the ownership of companies, other business organizations, or their operating units are transferred to or consolidated with another company or business organization. As an aspect ...

agreement between

Stockholms Enskilda Bank Stockholms Enskilda Bank, sometimes called Enskilda banken or SEB, was a Swedish bank, founded in 1856 by André Oscar Wallenberg as Stockholm's first private bank. In 1857, Stockholms Enskilda Bank began to employ women, claiming to be the fir ...

and rival

Skandinaviska Banken Skandinaviska Banken, literally the ''Scandinavian Bank'', was a Swedish bank founded in Gothenburg, 1864. Its foundation coincided with the political aspirations of the Scandinavian movement, which sought to unite Sweden, Norway and Denmark into ...

in 1971. Soon after, tragedy struck when Marc Wallenberg committed suicide, observers suggested that the act came possibly because Marc Wallenberg felt himself inadequate to the task of leading what was to become the Scandinavian banking giant

Skandinaviska Enskilda Banken Skandinaviska Enskilda Banken AB (, abbreviated SEB, is a northern European financial services group headquartered in Stockholm, Sweden. In Sweden and the Baltic countries, SEB has a full financial service offering. In Denmark, Finland, Norway, ...

, having been under much pressure from both his stern father, Marcus Wallenberg Jr., who used to box his ears in front of others, and his uncle, Jacob Wallenberg. Others speculated, including his father, that the prolonged cold and medication with sulfa drugs might have been fatal and resulted in his gun inflicted suicide. The merger went through in 1972. At the time of his death, Marc Wallenberg was on the boards of 67 companies. Marcus Wallenberg Jr. and his younger son

Peter Wallenberg Sr. Peter "Pirre" Wallenberg Sr. (29 May 1926 – 19 January 2015) was a Swedish business leader who was chairman of Investor AB for ten years. Early life and education Wallenberg was born in Skeppsholm Parish, Stockholm, Sweden, into the Wallenbe ...

, focused their interests on the family's investment companies,

Investor An investor is a person who allocates financial capital with the expectation of a future Return on capital, return (profit) or to gain an advantage (interest). Through this allocated capital most of the time the investor purchases some specie ...

and Providentia. Investor became the family's new flagship business, and, under Marcus Wallenberg Jr.'s leadership began actively promoting the

restructuring Restructuring is the corporate management term for the act of reorganizing the legal, ownership, operational, or other structures of a company for the purpose of making it more profitable, or better organized for its present needs. Other reasons ...

of most of the industrial companies under its control, replacing

board members A board of directors (commonly referred simply as the board) is an executive committee that jointly supervise the activities of an organization, which can be either a for-profit or a nonprofit organization such as a business, nonprofit organiza ...

and promoting younger

CEO A chief executive officer (CEO), also known as a central executive officer (CEO), chief administrator officer (CAO) or just chief executive (CE), is one of a number of corporate executives charged with the management of an organization especially ...

and other management. In 1970s, Peter Wallenberg established contact with top of the Chinese Communist Party. Peter was a close friend of

Jiang Zemin Jiang Zemin (17 August 1926 – 30 November 2022) was a Chinese politician who served as general secretary of the Chinese Communist Party (CCP) from 1989 to 2002, as chairman of the Central Military Commission from 1989 to 2004, and as pres ...

, who visited Sweden. Peter had also close contact with

Hu Jintao Hu Jintao (born 21 December 1942) is a Chinese politician who served as the 16–17th general secretary of the Chinese Communist Party (CCP) from 2002 to 2012, the 6th president of the People's Republic of China (PRC) from 2003 to 2013, an ...

who, like Zemin, visited Sweden. Peter hosted a dinner for Hu Jintao.

Peter Wallenberg Sr. Peter "Pirre" Wallenberg Sr. (29 May 1926 – 19 January 2015) was a Swedish business leader who was chairman of Investor AB for ten years. Early life and education Wallenberg was born in Skeppsholm Parish, Stockholm, Sweden, into the Wallenbe ...

took over after the death of Marcus Wallenberg Jr. in 1982. For many outsiders, the change in leadership marked a final moment in the family's more than 100-year dominance of the Swedish banking and industrial

sectors Sector may refer to: Places * Sector, West Virginia, U.S. Geometry * Circular sector, the portion of a disc enclosed by two radii and a circular arc * Hyperbolic sector, a region enclosed by two radii and a hyperbolic arc * Spherical sector, a p ...

. Yet Peter Wallenberg Sr. rose to the challenge, guiding

Investor An investor is a person who allocates financial capital with the expectation of a future Return on capital, return (profit) or to gain an advantage (interest). Through this allocated capital most of the time the investor purchases some specie ...

and Sweden's industry into a new era. In 1990, it was estimated that the family indirectly controlled one-third of the Swedish

Gross National Product The gross national income (GNI), previously known as gross national product (GNP), is the total domestic and foreign output claimed by residents of a country, consisting of gross domestic product (GDP), plus factor incomes earned by foreign ...

.

Peter Wallenberg Sr. Peter "Pirre" Wallenberg Sr. (29 May 1926 – 19 January 2015) was a Swedish business leader who was chairman of Investor AB for ten years. Early life and education Wallenberg was born in Skeppsholm Parish, Stockholm, Sweden, into the Wallenbe ...

stepped down from leadership of Investor in 1997. When Henry Kissinger started his consulting firm, Kissinger and Associates, on Park Avenue in New York, the Wallenbergs were his key clients. For a fixed fee of $200,000 per year, Kissinger took upon himself, or with the help of one of his employees, to go through the situation in the world together with company management, and for a fee of $100,000 a month, the firm was also available for special projects. In 1998, it was reported in media that,

George Soros George Soros ( name written in eastern order), (born György Schwartz, August 12, 1930) is a Hungarian-American businessman and philanthropist. , he had a net worth of US$8.6 billion, Note that this site is updated daily. having donated mo ...

was on a secretive visit to Stockholm and the Wallenberg-owned

Stockholm School of Economics The Stockholm School of Economics (SSE; sv, Handelshögskolan i Stockholm, HHS) is a private business school located in city district Vasastaden in the central part of Stockholm, Sweden. SSE offers BSc, MSc and MBA programs, along with ...

to meet representatives of the Wallenberg family. Soros'

Quantum Group of Funds The Quantum Group of Funds are privately owned hedge funds based in London, New York, Curaçao (Kingdom of the Netherlands) and Cayman Islands. They are advised by George Soros through his company Soros Fund Management. Soros started the fund ...

had give-up accounts at

Skandinaviska Enskilda Banken Skandinaviska Enskilda Banken AB (, abbreviated SEB, is a northern European financial services group headquartered in Stockholm, Sweden. In Sweden and the Baltic countries, SEB has a full financial service offering. In Denmark, Finland, Norway, ...

. The Wallenbergs were the main backers of George Soros'

Quantum Group of Funds The Quantum Group of Funds are privately owned hedge funds based in London, New York, Curaçao (Kingdom of the Netherlands) and Cayman Islands. They are advised by George Soros through his company Soros Fund Management. Soros started the fund ...

. The Wallenberg-owned

ABB ABB Ltd. is a Swedish- Swiss multinational corporation headquartered in Zürich, Switzerland. The company was formed in 1988 when Sweden's Allmänna Svenska Elektriska Aktiebolaget (ASEA) and Switzerland's Brown, Boveri & Cie merged to crea ...

supplied North Korea with two nuclear power plants in the early 2000s. Weapons experts warned that the waste material from the two reactors could be used for so-called "dirty bombs".

Donald Rumsfeld Donald Henry Rumsfeld (July 9, 1932 – June 29, 2021) was an American politician, government official and businessman who served as Secretary of Defense from 1975 to 1977 under president Gerald Ford, and again from 2001 to 2006 under Presi ...

was on the ABB board when the deal was won in 2000.

Early 21st century — 5th generation Wallenbergs

In 2006, the fifth generation took over the Wallenberg sphere. Marcus Wallenberg, son of

Marc Wallenberg Marc "Boy-boy" Wallenberg (28 June 1924 – 19 November 1971) was a Swedish banker and business manager. A member of the prominent Wallenberg family, Marc Wallenberg was CEO of Stockholms Enskilda Bank until his death in 1971. Early life Walle ...

,

Jacob Wallenberg Jacob Wallenberg (born 13 January 1956) is a Swedish banker and industrialist, currently serving as a board member for multiple companies. ''The Guardian'' has once quoted him as the prince in Sweden's royal family of finance. Biography Earl ...

and

Peter Wallenberg Jr. Peter “''Poker''” Åke Wallenberg (born 8 May 1959) is a Swedish businessman, chair of eight of the sixteen public and private foundations formed by the Wallenberg family or established in memory of family members. The foundations, which are k ...

sons of

Peter Wallenberg Sr. Peter "Pirre" Wallenberg Sr. (29 May 1926 – 19 January 2015) was a Swedish business leader who was chairman of Investor AB for ten years. Early life and education Wallenberg was born in Skeppsholm Parish, Stockholm, Sweden, into the Wallenbe ...

In May 2006, Wallenbergs' bank SEB arranged a meeting in Stockholm together with

World Economic Forum The World Economic Forum (WEF) is an international non-governmental and lobbying organisation based in Cologny, canton of Geneva, Switzerland. It was founded on 24 January 1971 by German engineer and economist Klaus Schwab. The foundation, ...

where experts and policymakers discussed the financial instabilities and the reformation of IMF and

World Bank The World Bank is an international financial institution that provides loans and grants to the governments of low- and middle-income countries for the purpose of pursuing capital projects. The World Bank is the collective name for the Interna ...

. The hosts were President Marcus Wallenberg and CEO

Annika Falkengren Annika Falkengren ''née'' Bolin (born 1962) is a Swedish banker, one of Lombard Odier’s seven managing partners. She started her professional career in 1987 at Skandinaviska Enskilda Banken where she ascended through the ranks to become its P ...

. In late February 2022, it was reported in the media that, Wallenberg-owned Ericsson had bribed the terror organisation

ISIL An Islamic state is a state that has a form of government based on Islamic law (sharia). As a term, it has been used to describe various historical polities and theories of governance in the Islamic world. As a translation of the Arabic term ...

in Iraq.

Jacob Wallenberg at the Nobel Banquet in Stockholm, 2022

In late March, 2022, it became known that technology and equipment from Wallenberg-owned

Atlas Copco Atlas Copco (Copco from Compagnie Pneumatique Commerciale) is a Swedish multinational industrial company that was founded in 1873. It manufactures industrial tools and equipment. The Atlas Copco Group is a global industrial group of companies h ...

and

SKF AB SKF (Swedish: ''Svenska Kullagerfabriken''; 'Swedish Ball Bearing Factory') is a Swedish bearing and seal manufacturing company founded in Gothenburg, Sweden, in 1907. The company manufactures and supplies bearings, seals, lubrication and l ...

had been sold to twelve of the Russian state's nuclear weapons manufacturers. In April, 2022,

Jacob Wallenberg Jacob Wallenberg (born 13 January 1956) is a Swedish banker and industrialist, currently serving as a board member for multiple companies. ''The Guardian'' has once quoted him as the prince in Sweden's royal family of finance. Biography Earl ...

participated in a secret meeting in Helsinki, Finland, with Swedish Minister of Finance

Mikael Damberg Lars Mikael Damberg (born 13 October 1971) is a Swedish politician of the Social Democratic Party. He served as Minister for Finance from 2021 to 2022. He previously served as Minister for Enterprise from October 2014 to January 2019 and as minis ...

and the President of Finland,

Sauli Niinistö Sauli Väinämö Niinistö (; born 24 August 1948) is a Finnish politician who has served as president of Finland since March 2012, the 12th person to hold that office. A lawyer by education, Niinistö was Chairman of the National Coalition Part ...

and high military officers, on the issue of NATO membership. In September, 2022, the Wallenberg-owned Ericsson continued to export telecommunication equipment to Russia after the sanctions, which, according to some sources, could be used for military as well as civilian purposes. In October, 2022, Jacob Wallenberg, CEOs from the Wallenberg sphere, and the Swedish and Dutch royal families, met at Wallenbergs Grand Hotel Stockholm to discuss the sale of submarine A26 by

Saab Group Saab AB (originally , later just SAAB and Saab Group) is a Swedish aerospace and defence company, founded in 1937. Headquartered in Stockholm, the development and the manufacturing is undertaken in Linköping. Saab produced automobiles from 194 ...

to Netherlands. Media reported in November, 2022, that, the Wallenberg family played a central role when Prime Minister

Ulf Kristersson Ulf Hjalmar Ed Kristersson (born 29 December 1963) is a Swedish politician who has been serving as Prime Minister of Sweden since October 2022. He has been the leader of the Moderate Party (M) since October 2017 and a member of the Riksdag (MP) ...

visited Turkish President Erdogan. CEOs of the Wallenberg sphere, in total CEOs of 6 multinationals in the Wallenberg sphere, were part of the delegation to Turkey, including Håkan Buskhe of

Saab Group Saab AB (originally , later just SAAB and Saab Group) is a Swedish aerospace and defence company, founded in 1937. Headquartered in Stockholm, the development and the manufacturing is undertaken in Linköping. Saab produced automobiles from 194 ...

.

Modern business

The Wallenbergs have a very low-key public profile, eschewing conspicuous displays of wealth. The family motto is ''Esse, non Videri'' (

Latin Latin (, or , ) is a classical language belonging to the Italic branch of the Indo-European languages. Latin was originally a dialect spoken in the lower Tiber area (then known as Latium) around present-day Rome, but through the power of the ...

for "To be, not to be seen").

Marcus Wallenberg Sr. Marcus Laurentius Wallenberg, Sr. (5 March 1864 – 22 July 1943) was a Swedish banker. He served as CEO of Stockholms Enskilda Bank (SEB) from 1911 to 1920. Early life Wallenberg was born on 5 March 1864 in Stockholm, Sweden, the son of And ...

adopted this motto when he became a Knight and Commander of the

Royal Order of the Seraphim The Royal Order of the Seraphim ( sv, Kungliga Serafimerorden; ''Seraphim'' being a category of angels) is a Swedish order of chivalry created by King Frederick I on 23 February 1748, together with the Order of the Sword and the Order of the P ...

in 1931.

The Wallenbergs business empire is often referred to as the Wallenberg sphere, the Wallenberg sphere is a large group of companies in which their investment conglomerate,

Investor AB Investor AB is a Swedish investment and ''de facto'' conglomerate holding company. It was founded in 1916 and is still controlled by the Wallenberg family through their Foundation Asset Management company FAM. The company owns a controlling st ...

, or Foundation Asset Management (FAM), have the

controlling interest A controlling interest is an ownership interest in a corporation with enough voting stock shares to prevail in any stockholders' motion. A majority of voting shares (over 50%) is always a controlling interest. When a party holds less than the majo ...

. In 1916, new legislation made it more difficult for banks to own

shares In financial markets, a share is a unit of equity ownership in the capital stock of a corporation, and can refer to units of mutual funds, limited partnerships, and real estate investment trusts. Share capital refers to all of the shares of an ...

in industrial companies on a long-term basis.

Investor An investor is a person who allocates financial capital with the expectation of a future Return on capital, return (profit) or to gain an advantage (interest). Through this allocated capital most of the time the investor purchases some specie ...

was therefore formed as an investment part of

Stockholms Enskilda Bank Stockholms Enskilda Bank, sometimes called Enskilda banken or SEB, was a Swedish bank, founded in 1856 by André Oscar Wallenberg as Stockholm's first private bank. In 1857, Stockholms Enskilda Bank began to employ women, claiming to be the fir ...

.

Investor

Wallenbergs' investment conglomerate

Investor AB Investor AB is a Swedish investment and ''de facto'' conglomerate holding company. It was founded in 1916 and is still controlled by the Wallenberg family through their Foundation Asset Management company FAM. The company owns a controlling st ...

has the controlling interest of the multinationals

Atlas Copco Atlas Copco (Copco from Compagnie Pneumatique Commerciale) is a Swedish multinational industrial company that was founded in 1873. It manufactures industrial tools and equipment. The Atlas Copco Group is a global industrial group of companies h ...

,

ABB ABB Ltd. is a Swedish- Swiss multinational corporation headquartered in Zürich, Switzerland. The company was formed in 1988 when Sweden's Allmänna Svenska Elektriska Aktiebolaget (ASEA) and Switzerland's Brown, Boveri & Cie merged to crea ...

,

AstraZeneca AstraZeneca plc () is a British-Swedish multinational pharmaceutical and biotechnology company with its headquarters at the Cambridge Biomedical Campus in Cambridge, England. It has a portfolio of products for major diseases in areas includin ...

,

Skandinaviska Enskilda Banken Skandinaviska Enskilda Banken AB (, abbreviated SEB, is a northern European financial services group headquartered in Stockholm, Sweden. In Sweden and the Baltic countries, SEB has a full financial service offering. In Denmark, Finland, Norway, ...

,

Epiroc Epiroc AB is a Swedish manufacturer of mining and infrastructure equipment. It is headquartered in Stockholm, Sweden and has its manufacturing facilities in Sweden, United States, Canada, Australia, China, India, Japan and Germany. History Epiroc ...

,

Ericsson (lit. "Telephone Stock Company of LM Ericsson"), commonly known as Ericsson, is a Swedish multinational networking and telecommunications company headquartered in Stockholm. The company sells infrastructure, software, and services in informat ...

, Nasdaq, Inc., Swedish Orphan Biovitrum,

Husqvarna Group The Husqvarna Group () is a Swedish manufacturer of outdoor power products including chainsaws, trimmers, brushcutters, cultivators, and garden tractors. Founded as a firearms manufacturer in 1689, it is one of the oldest continuously runnin ...

,

Saab Group Saab AB (originally , later just SAAB and Saab Group) is a Swedish aerospace and defence company, founded in 1937. Headquartered in Stockholm, the development and the manufacturing is undertaken in Linköping. Saab produced automobiles from 194 ...

,

Electrolux Electrolux AB () is a Swedish multinational home appliance manufacturer, headquartered in Stockholm. It is consistently ranked the world's second largest appliance maker by units sold, after Whirlpool. Electrolux products sell under a variety ...

,

Wärtsilä Wärtsilä Oyj Abp (), trading internationally as Wärtsilä Corporation, is a Finnish company which manufactures and services power sources and other equipment in the marine and energy markets. The core products of Wärtsilä include technol ...

,

Electrolux Professional Electrolux Professional AB is a Swedish multinational professional appliance manufacturing company, headquartered in Stockholm. Originally formed as a division and later subsidiary of Electrolux, it was spun-off in March 2020. It produces a vari ...

.

Patricia Industries

Additionally,

Investor AB Investor AB is a Swedish investment and ''de facto'' conglomerate holding company. It was founded in 1916 and is still controlled by the Wallenberg family through their Foundation Asset Management company FAM. The company owns a controlling st ...

, has controlling interest of Patricia Industries, which has controlling interest of

Mölnlycke Health Care Mölnlycke Health Care is a Swedish medical device company headquartered in Gothenburg and active internationally. The company manufactures and sells wound care and single-use surgical products and is a service provider to the healthcare sector. ...

,

Laborie Laborie is a village on the south coast of Saint Lucia. It was originally called l'Islet a Caret after the Loggerhead sea turtles that were found in the area. The name Laborie is named after Baron de Laborie who was the French governor of Saint L ...

, Permobil, Sarnova, Piab, Advanced Instruments,

BraunAbility BraunAbility is an American manufacturer of wheelchair accessible vans and wheelchair lifts based in Winamac, Indiana. It is currently owned by Investor AB. The company was founded by Ralph Braun, who had spinal muscular atrophy. Braun designed a w ...

, AtlasAntibodies,

Vectura Vectura Group Limited is a British pharmaceutical industry, pharmaceuticals company based in Chippenham, England which develops inhaled medicines and makes inhaler devices. The company was listed on the London Stock Exchange until it was acquir ...

, 3 (company).

EQT Partners

Investor AB Investor AB is a Swedish investment and ''de facto'' conglomerate holding company. It was founded in 1916 and is still controlled by the Wallenberg family through their Foundation Asset Management company FAM. The company owns a controlling st ...

also has controlling interest of Europe's second-largest equity firm, third-largest in the world,

EQT Partners EQT AB Group is a global investment organization founded in 1994. Its funds invest in private equity, infrastructure, real estate, growth equity, and venture capital in Europe, North America, and Asia Pacific. , EQT's assets under management a ...

, which, as of October 2022, has majority and minority ownership of 3Shape, Acumatica, Acuon Capital, Aelin Therapeutics, AGS Health, AIG Hospitals, Allee Center, AM-PHarma, Amolyt Pharma,

Anticimex Anticimex is an international modern pest control company. Anticimex means "Against bed bugs". Anticimex is mainly owned by EQT Partners and have subsidiaries in 20 countries. Anticimex operates in the areas of pest control, building environm ...

, Ardoq, Artios Pharma,

Artwall ''Artwall'', also known as ''Art Wall'', is an outdoor 2005 sculpture by German architect and artist Herbert Dreiseitl, located at Tanner Springs Park in the Pearl District, Portland, Oregon, Pearl District of Portland, Oregon. Description and hi ...

, Arvelle Therapeutics, Atlantic Therapeutics, Atricom and Le Buro, AviadoBio, Azelis, Banking Circle, BBS Automation, Beijer Ref, Binx Health, Bluestep Bank, Bushu Pharmaceuticals, Campus, Cardiac dimensions, Cardior, Cast & Crew, Cerba Healthcare, Certara, CFC, China Shine, CitiusTech, Clarivate Analytics, CMS info Systems, Codemao,

Coforge Coforge, formerly known as NIIT Technologies, is an Indian multinational information technology company based in Noida, India and New Jersey, United States. The company's stock trades on the Bombay Stock Exchange and on the National Stock Exch ...

, Colisee, Concept, Covanta, Cue, CYE, Cypress Creek, Dataflow, Deliner Couplers, DELTA Fiber, Deutsche Glasfaser, DNA Script, DOTS Technology, Dunlop, EC-Council, EdgeConneX, Egle Therapeutics, Ellab, Eloxx Pharma, Endotronix, Envirotainer, Epidemic Sound, eTheRNA, Eton, Eureka, evidia, Evommune, Eyesense, Fiberklaar, First Student and First Transit, FoRx Therapeutics, Freepik, Golderma, Ginko, GlobalConnect, GPA Globa, Guardian Shanghai Hygiene Serice Ltd., HMI Group, Horizon Robotics, HotSpot Therapeutics, Hutchmed, Icon Group, Idealista, IFS, IGT Solutions, ILA Vietnam, Illuminoss, ImCheck, Imcyse, Immunic, Impro Precision, Indesso, Innovative Molecules, InstaVolt, iStar Medical, IVC Evidensia, Jakarta Eye Center, JD Health, Karo Pharma, kfzteile24, Kodias Gas Sevices, LLC, Kuoni Group / VFS Global, Kuros, Kyobo Life Insurance, Levande, Lima, Long-Spring Education Group, Lumenis, Lumeon, Magnit, Mambu, ManyPets, Medeye, Melita, Merus, Metlifecare, MHC Asia,

Minerva Minerva (; ett, Menrva) is the Roman goddess of wisdom, justice, law, victory, and the sponsor of arts, trade, and strategy. Minerva is not a patron of violence such as Mars, but of strategic war. From the second century BC onward, the Roma ...

,

Mollie Molly, Mollie or mollies may refer to: Animals * ''Poecilia'', a genus of fishes ** ''Poecilia sphenops'', a fish species * A female mule (horse–donkey hybrid) People * Molly (name) or Mollie, a female given name, including a list of persons ...

,

Molslinjen (previously called ) is a Danish company that operates ferry services between Jutland (Jylland) and the island of Zealand (Sjælland). In March 2017, the routes in the Kattegat were renamed to Molslinjen, while the Bornholms services would c ...

, Muna Therapeutics, Nest, Neurent Medical, New Amsterdam Pharma, Nexon Asia Pacific, Nkarta, Nobi, Nord Anglia, Nouscom, 02 Power, One Projects, ONWARD, Open Systems, Orphazyme, Osmose Utilities Services, Inc.,

Ottobock Ottobock SE & Co. KGaA, formerly Otto Bock, is a company based in Duderstadt Germany, that operates in the field of orthopedic technology. It is considered the world market leader in the field of prosthetics and one of the leading suppliers ...

, OxThera, Parcel2GO, Parexel, Parques Reunidos, Perfuze, Pharvaris,

Pioneer Corporation commonly referred to as Pioneer, is a Japanese multinational corporation based in Tokyo, that specializes in digital entertainment products. The company was founded by Nozomu Matsumoto in January 1, 1938 in Tokyo as a radio and speaker repair s ...

,

Prometric Prometric, also known as Prometric Testing, is a U.S.-based company in the test administration industry. Its corporate headquarters is located in Canton (Baltimore, Maryland) in the United States. Prometric operates a test center network composed ...

,

RBL Bank RBL Bank, formerly known as Ratnakar Bank, is an Indian private sector bank headquartered in Mumbai and founded in 1943. It offers services across six verticals: corporate and institutional banking, commercial banking, branch and business bank ...

, Recipharm, Recover, Rich Healthcare, RIMES Technologies, Sagility, SAI360, Saturn, SAUR, Schulke, SEGRA, Sequana Medical, Shengmu Organic Milk,

Shinhan Financial Group Shinhan Financial Group Co., Ltd. () is a financial holding company headquartered in Seoul, South Korea. Its subsidiaries provide a full range of financial services, including banking, securities, life insurance, and investment banking. It is one ...

, SHL Medical, Sitecore, Smart Parc, SNPR Biome, Solarpack, Solera, Southside, SPT Labtech, Stendörren, Storable, Straive, SUSE, Svenska Verksamhetsfastigheter, T-Knife, TBS Energi (fka Toba Bara), TELUS International, The CrownX, thinkproject, Torghatten, Tricor, TRYT, UNnum, UTA, VarmX, VBill, Vectura (Activaro), Vicentr, Vico Therapeutics, Vietnam-USA Society English Centers (“VUS”), Vinted, Virtuos, Virtusa, Vistra, Visus Therapeutics, Vivasure, Vivoryon Therapeutics,

Wall Street English Wall Street English (formerly Wall Street Institute) is an international English language learning academy for children and adults around the world. Wall Street English was established in 1972 in Italy by Italian Luigi Tiziano Peccenini. The c ...

, WASH, Waystar, Wolt, WorkWave, World Freight Company, WS Audiology, Xeltis, Xilis, XyloCor Therapeutics, Zayo, Zealand Pharma. The subsidiary of

EQT Partners EQT AB Group is a global investment organization founded in 1994. Its funds invest in private equity, infrastructure, real estate, growth equity, and venture capital in Europe, North America, and Asia Pacific. , EQT's assets under management a ...

,

EQT Ventures EQT Ventures is the venture capital business of Swedish investment manager EQT AB Group. In May 2016, EQT Ventures announced its first €566m fund that makes minority equity investments in European and US tech companies ranging between €1 mil ...

, has ownership of Oden Technologies, Holidu, Risk Methods, Min Doktor,

Wolt Wolt is a Finnish technology company known for its delivery platform for food and merchandise. On Wolt's apps (iOS and Android) or website, customers can order food and other items from the platform's restaurant and merchant partners, and either p ...

, Unomaly, Hubs, Service Partner One, Watty, Hubs (formerly 3D Hubs,

Peltarion Peltarion is an Artificial intelligence, AI software company with offices in Stockholm and London. In June 2022, the company was acquired by the video game developer King (company), King, which is owned by Activision Blizzard. History Peltari ...

, My Tomorrows, Small Giant Games, Peakon, HackerOne, Token, Codacy, Home, Call Desk, Varjo, Natural Cycles, Permutive, Tinyclues,

AnyDesk AnyDesk is a remote desktop application distributed by AnyDesk Software GmbH. The proprietary software program provides platform independent remote access to personal computers and other devices running the host application. It offers remote con ...

, Quit Genius, Beamery, Silexica, Baffin Bay Networks, Banking Circle, BIM Object, Supplant, Siilo, Headspin, Handshake, Mental, Acerta Analytics, Wandelbots, dott, Warducks, Popcore, Cytora, Heart Aerospace, Standard Cognition, Darkstore, Beat81, Einride, Let's Do This, Frontify,

Netlify Netlify is a remote-first cloud computing company that offers a development platform that includes build, deploy, and serverless backend services for web applications and dynamic websites. The platform is built on open web standards, making ...

, Sonantic, Reworks, Peanut, Anyfin, Willa, Traplight, Seeqc, Vectary, CodeSandbox, Griffin, Supernormal, Wonder, Luko, Curb, Cleo, Kive, Sana Labs, Instabox, Colossi Games, Treecard, Supernova, Playsome, Kitemaker, Airkit, Unmind, Oirigin.bio, Vev, Lenus eHealth, Owwn, Volt, Single.earth, Hiber, Verkor, Depict.AI, Linearity, Formo, Juni, Moralis, Timeless, Candela, Onramper, Billhop, Endgame, Voila, Nothing, Superlist, Knoetic.

FAM

FAM,

Foundation Asset Management Foundation Asset Management AB is a Swedish foundation asset management company, founded by the three largest Wallenberg foundations in order to manage the assets of the foundations, by means of direct ownership as well as through management and ...

, has controlling interest of world's largest manufacturer of bearing and seal

SKF AB SKF (Swedish: ''Svenska Kullagerfabriken''; 'Swedish Ball Bearing Factory') is a Swedish bearing and seal manufacturing company founded in Gothenburg, Sweden, in 1907. The company manufactures and supplies bearings, seals, lubrication and l ...

, fourth-largest paper and pulp multinational

Stora Enso Stora Enso Oyj (from sv, Stora and fi, Enso ) is a manufacturer of pulp, paper and other forest products, headquartered in Helsinki, Finland. The majority of sales takes place in Europe, but there are also significant operations in Asia and S ...

, global leader in energy-efficient air treatment and climate solutions Munters, provider of advanced process solutions IPCO (formerly

Sandvik Sandvik AB is a Swedish multinational engineering company specializing in metal cutting, digital and additive manufacturing, mining and construction, stainless and special steel alloys, and industrial heating. The company was founded in Sweden ...

Process Systems), one of Sweden's largest private forest owners Kopparfors Skogar, hotel and restaurant business the Grand Group, world's largest manufacturer of metal powders

Höganäs AB Höganäs AB is a Swedish multinational based in Höganäs. It is the world's largest producer of powdered metals. It develops and markets powders for customers in metallurgical industries. The company's portfolio of products and services includ ...

, global packaging and logistics services provider Nefab, Sweden's leading digital mailbox provider Kivra, and minority ownership of Alfven & Didrikson, AMEXCI, Cinder Invest, Combient, GreenIron, Gropyrus, H2 Green Steel, developer of Quantom Dots and micro LEDs for displays

Nanosys Nanosys is a nanotechnology company located in Milpitas, California and founded in 2001. The company develops and manufactures quantum dot materials for display products. Products Quantum Dot Enhancement Film (QDEF) Nanosys Quantum Dot Enhance ...

, developer of hardware solutions for quantum computing Seeqc, investment firm for early-stage companies 82an Invest.

Organisations

Bilderberg Group

The Wallenbergs were instrumental in its creation and are members of the Steering Committee of

Bilderberg Group The Bilderberg meeting (also known as the Bilderberg Group) is an annual off-the-record conference established in 1954 to foster dialogue between Europe and North America. The group's agenda, originally to prevent another world war, is now defin ...

and have invited CEOs from the Wallenberg sphere and other European companies, Scandinavian bankers, as well as editor-in-chiefs from mass media, Swedish politicians, and scientists to the meeting. The Wallenberg-owned

Grand Hotel Saltsjöbaden The Grand Hotel Saltsjöbaden is a hotel in Saltsjöbaden, Sweden. Built on the initiative of Knut Agathon Wallenberg, it was opened in 1893 by King Oscar II of Sweden. The hotel was owned by the Wallenberg family until 1999, when it was purchased ...

hosted the meeting thrice, in 1962, 1973 and 1984. Marcus Wallenberg Jr. was a member of the Steering Committee and attended the meeting twenty-two times from the 1950s to 1981, a year prior this his death. His grandson Marcus Wallenberg has attended it eight times, as a member of the Steering Committee, and his other grandson,

Jacob Wallenberg Jacob Wallenberg (born 13 January 1956) is a Swedish banker and industrialist, currently serving as a board member for multiple companies. ''The Guardian'' has once quoted him as the prince in Sweden's royal family of finance. Biography Earl ...

, seventeen times, as a member of the Steering Committee. The Wallenbergs have invited among others

Herbert Tingsten Herbert Lars Gustaf Tingsten (17 March 1896 – 26 December 1973) was a Swedish political scientist, writer and newspaper publisher. An influential figure in Swedish political science, he was a professor of political science at Stockholm Unive ...

,

Per Jacobsson Per Jacobsson (5 February 1894 – 5 May 1963) was a Swedish economist who served as the managing director of the International Monetary Fund (IMF) from 1956 until his death in 1963. Born in Tanum, Bohuslän, Jacobsson received degrees in law ...

,

Tage Erlander Tage Fritjof Erlander (; 13 June 1901 – 21 June 1985) was a Swedish politician who served as Prime Minister of Sweden from 1946 to 1969. He was the leader of the Swedish Social Democratic Party and led the government for an uninterrupted tenur ...

,

Erik Boheman Erik Carlsson Boheman (19 January 1895 – 18 September 1979), was a Sweden, Swedish diplomat and politician for the Liberal People's Party (Sweden), Liberal People's Party.

,

Olof Palme Sven Olof Joachim Palme (; ; 30 January 1927 – 28 February 1986) was a Swedish politician and statesman who served as Prime Minister of Sweden from 1969 to 1976 and 1982 to 1986. Palme led the Swedish Social Democratic Party from 1969 until h ...

, Björn Lundvall, Kjell Olof Feldt,

Gunnar Sträng Gunnar Georg Emanuel Sträng (23 December 1906 – 7 March 1992) was a Swedish Social Democratic politician, most known for being Sweden's longest serving minister for finance. Sträng grew up in a working-class family in Lövsta, today a part ...

, Torbjörn Fälldin, Sten Gustafsson, Björn Svedberg, Hans Werthén, Leif Johansson,

Curt Nicolin Curt René Nicolin (10 March 1921 – 8 September 2006) was a Swedish businessman. He served as the chairman of ASEA and the Swedish Employers Association. Early life Nicolin was born on 10 March 1921 in Stockholm, Sweden, the son of Felix Nico ...

,

Carl Bildt Nils Daniel Carl Bildt (born 15 July 1949) is a Swedish politician and diplomat who was Prime Minister of Sweden from 1991 to 1994. He was the leader of the Moderate Party from 1986 to 1999. Bildt served as Sweden's Minister for Foreign Affairs ...

,

Percy Barnevik Percy Nils Barnevik HonFREng (born 13 February 1941) is a Swedish business executive, best known as CEO and later Chairman of Asea Brown Boveri (ABB) 1988–2002, and for being the centre of a giant pension dispute that shook Sweden in 2003. He ...

,

Michael Treschow Niels Michael Aage Treschow (born April 22, 1943) is a Swedish businessman. As chairman of the board of both Unilever since 2007 and the Confederation of Swedish Enterprise, and former chairman of Ericsson, Treschow is one of the most influenti ...

,

Erik Belfrage Erik Jean Christian Antoine Belfrage (13 April 1946 – 18 April 2020) was a Swedish diplomat, banking executive, and political consultant. Early life and education Belfrage was the son of diplomat Kurt-Allan Belfrage and his wife, Renée Fra ...

,

Claes Dahlbäck Claes Åke Gustaf Dahlbäck (born 6 June 1947) is a Swedish businessman. Biography He received an M.Sc. and a PhD in Economics from the Stockholm School of Economics. In 1973, he joined Investor AB as an analyst in New York City. From 1978 to 19 ...

,

Anna Lindh Ylva Anna Maria Lindh (19 June 1957 – 11 September 2003) was a Swedish Social Democratic politician and lawyer who served as Minister for Foreign Affairs from 1998 until her death. She was also a Member of the Riksdag (member of parliament) f ...

,

Leif Pagrotsky Leif Pagrotsky (born 20 October 1951 in Gothenburg) is a Swedish politician, economist, and diplomat. He held the position of Consul General of Sweden in New York City. Early life and education Leif Pagrotsky grew up in the Björkekärr distr ...

,

Fredrik Reinfeldt John Fredrik Reinfeldt (pronounced ; born 4 August 1965) is a Swedish economist, lecturer, and former politician who was Prime Minister of Sweden from 2006 to 2014, and chairman of the liberal conservative Moderate Party from 2003 to 2015. He wa ...

,

Anders Borg Anders Erik Borg (born 11 January 1968) is a Swedish politician who served as Minister for Finance in the Swedish government from 2006 to 2014. He is a member of the Swedish Moderate Party. Youth and education Borg was born in Skarpnäck, Sto ...

,

Hans Stråberg Hans Straberg is the Chairman of Atlas Copco and SKF. He was the President & CEO of Electrolux AB from 2002 to 2010. Straberg is also a Bilderberg participant. Hans Stråberg, born in 1957 in Västervik, is a Swedish business leader. He was one o ...

,

Carl-Henric Svanberg Carl-Henric Svanberg (born 29 May 1952), is a Swedish businessman and current Chairman of Volvo. He was Chairman of BP for eight years, from 2010 to 2018. Life and career Svanberg holds a master's degree in applied physics from the Linköping ...

,

Alexei Mordashov Alexey Alexandrovich Mordashov ( rus, Алексей Александрович Мордашов; born 26 September 1965) is a Russian billionaire businessman. He is the main shareholder and chairman of Severstal, Russia's largest steel and mini ...

,

Jonas Bonnier Jonas Bonnier (born 1963) is a Swedish author who has published 8 novels. His latest work, ''The Helicopter Heist'' about the Västberga helicopter robbery, has been sold to 34 territories. It is his first attempt in the suspense novel category. ...

,

Börje Ekholm Börje Ekholm (born 1963) is a Swedish business executive who is the chief executive officer of Ericsson, and has been since January 16, 2017. Prior to his appointment, he was chief executive officer of Patricia Industries, and from 2005 to 2015 h ...

,

Björn Wahlroos Björn Arne Christer Wahlroos (born 10 October 1952 in Helsinki, Finland) is a Swedish-speaking Finn, best known as a banker, investor and the chairman of the Board in Sampo Group and UPM-Kymmene. Before switching to banking Wahlroos worked as a ...

, Håkan Bushke,

Mikael Damberg Lars Mikael Damberg (born 13 October 1971) is a Swedish politician of the Social Democratic Party. He served as Minister for Finance from 2021 to 2022. He previously served as Minister for Enterprise from October 2014 to January 2019 and as minis ...

,

Magdalena Andersson Eva Magdalena Andersson (born 23 January 1967) is a Swedish politician and economist who has served as Leader of the Opposition since October 2022 and Leader of the Swedish Social Democratic Party since 2021. She has served as a Member of the R ...

, Conni Jonsson, Johanna Rosén,

Annie Lööf Annie Marie Therése Lööf (, ; born 16 July 1983) is a Swedish politician and lawyer. She has been a Member of the Riksdag, representing her home constituency of Jönköping County, since 2006, and leader of the Centre Party since 2011. Lö� ...

, Danica Kragic,

Ulf Kristersson Ulf Hjalmar Ed Kristersson (born 29 December 1963) is a Swedish politician who has been serving as Prime Minister of Sweden since October 2022. He has been the leader of the Moderate Party (M) since October 2017 and a member of the Riksdag (MP) ...

,

Sara Mazur Birgit ''Sara'' Mazur, born 8 May 1966, is a Swedish physicist, electrical engineer, and business executive. Sara Mazur grew up in Stockholm and attended the Royal Institute of Technology, graduating with degrees in 1989 and 1994 in plasma physi ...

, Johan Rockström,

Lena Hallengren Lena Ingeborg Hallengren (born 25 December 1973) is a Swedish politician of the Social Democratic Party who has been served as Minister for Health and Social Affairs in the cabinet of Prime Minister Stefan Löfven from 21 January 2019 unt ...

.

Trilateral Commission

Members of the

Trilateral Commission The Trilateral Commission is a nongovernmental international organization aimed at fostering closer cooperation between Japan, Western Europe and North America. It was founded in July 1973 principally by American banker and philanthropist David ...

include Marcus Wallenberg Jr.,

Peter Wallenberg Sr. Peter "Pirre" Wallenberg Sr. (29 May 1926 – 19 January 2015) was a Swedish business leader who was chairman of Investor AB for ten years. Early life and education Wallenberg was born in Skeppsholm Parish, Stockholm, Sweden, into the Wallenbe ...

,

Jacob Wallenberg Jacob Wallenberg (born 13 January 1956) is a Swedish banker and industrialist, currently serving as a board member for multiple companies. ''The Guardian'' has once quoted him as the prince in Sweden's royal family of finance. Biography Earl ...

and Marcus Wallenberg. Former members of the Wallenberg sphere include former Vice President of SEB, diplomat and advisor for

Investor AB Investor AB is a Swedish investment and ''de facto'' conglomerate holding company. It was founded in 1916 and is still controlled by the Wallenberg family through their Foundation Asset Management company FAM. The company owns a controlling st ...

and the Wallenbergs,

Erik Belfrage Erik Jean Christian Antoine Belfrage (13 April 1946 – 18 April 2020) was a Swedish diplomat, banking executive, and political consultant. Early life and education Belfrage was the son of diplomat Kurt-Allan Belfrage and his wife, Renée Fra ...

, the Irish lawyer, former

Investor AB Investor AB is a Swedish investment and ''de facto'' conglomerate holding company. It was founded in 1916 and is still controlled by the Wallenberg family through their Foundation Asset Management company FAM. The company owns a controlling st ...

employee, and friend of the Wallenbergs,

Peter Sutherland Peter Denis Sutherland (25 April 1946 – 7 January 2018) was an Irish businessman, barrister and Fine Gael politician who served as UN Special Representative for International Migration from 2006 to 2017. He was known for serving in a variety ...

. Current member of the Wallenberg sphere is Magnus Schöldtz.

ICC — International Chamber of Commerce

The Wallenbergs have their own room, the Wallenberg room, in the headquarters of ICC in Paris. Peter Wallenberg was Immediate Past President of the ICC in Paris. Marcus Wallenberg Jr. was a long serving chairman, and his grandson Marcus Wallenberg is the longest serving chairman in the history of ICC and is now an Honorary Chairman.

European Round Table of Industrialists

Jacob Wallenberg Jacob Wallenberg (born 13 January 1956) is a Swedish banker and industrialist, currently serving as a board member for multiple companies. ''The Guardian'' has once quoted him as the prince in Sweden's royal family of finance. Biography Earl ...

, CEO of

Investor An investor is a person who allocates financial capital with the expectation of a future Return on capital, return (profit) or to gain an advantage (interest). Through this allocated capital most of the time the investor purchases some specie ...

and Vice Chairman of FAM, is a member of

European Round Table of Industrialists The European Round Table of Industrialists, abbreviated ERT, is an advocacy group in the European Union consisting of some 50 European industrial leaders working to strengthen competitiveness in Europe. The group works at both national and European ...

Steering Committee, representing

Investor AB Investor AB is a Swedish investment and ''de facto'' conglomerate holding company. It was founded in 1916 and is still controlled by the Wallenberg family through their Foundation Asset Management company FAM. The company owns a controlling st ...

. Other people from the Wallenberg sphere at ERT are

Börje Ekholm Börje Ekholm (born 1963) is a Swedish business executive who is the chief executive officer of Ericsson, and has been since January 16, 2017. Prior to his appointment, he was chief executive officer of Patricia Industries, and from 2005 to 2015 h ...

, CEO of

Ericsson (lit. "Telephone Stock Company of LM Ericsson"), commonly known as Ericsson, is a Swedish multinational networking and telecommunications company headquartered in Stockholm. The company sells infrastructure, software, and services in informat ...

,

Ulrich Spiesshofer Ulrich Spiesshofer (born 26 March 1964), is the former chief executive officer of the ABB Group, a leading power and automation technology company, headquartered in Zurich, Switzerland. He took up the role on 15 September 2013, succeeding Joe Ho ...

, CEO of

ABB ABB Ltd. is a Swedish- Swiss multinational corporation headquartered in Zürich, Switzerland. The company was formed in 1988 when Sweden's Allmänna Svenska Elektriska Aktiebolaget (ASEA) and Switzerland's Brown, Boveri & Cie merged to crea ...

, Leif Johansson, CEO of

Astra Zeneca AstraZeneca plc () is a British-Swedish multinational pharmaceutical and biotechnology company with its headquarters at the Cambridge Biomedical Campus in Cambridge, England. It has a portfolio of products for major diseases in areas includin ...

, CEO of

ABB ABB Ltd. is a Swedish- Swiss multinational corporation headquartered in Zürich, Switzerland. The company was formed in 1988 when Sweden's Allmänna Svenska Elektriska Aktiebolaget (ASEA) and Switzerland's Brown, Boveri & Cie merged to crea ...

Björn Rosengren Björn Folke Rosengren (born 14 April 1942) is a Swedish politician and advisor to the Stenbeck family. Rosengren was born in Täby. He was active in the labour union and as a Social Democratic politician. He served as chairman of the Swedish ...

. Former members from the Wallenberg sphere include

Curt Nicolin Curt René Nicolin (10 March 1921 – 8 September 2006) was a Swedish businessman. He served as the chairman of ASEA and the Swedish Employers Association. Early life Nicolin was born on 10 March 1921 in Stockholm, Sweden, the son of Felix Nico ...

, CEO of

ASEA ''Allmänna Svenska Elektriska Aktiebolaget'' (English translation: General Swedish Electrical Limited Company; Swedish abbreviation: ASEA) was a Swedish industrial company. History ASEA was founded in 1883 by Ludvig Fredholm in Västerås as ...

,

Carl-Henric Svanberg Carl-Henric Svanberg (born 29 May 1952), is a Swedish businessman and current Chairman of Volvo. He was Chairman of BP for eight years, from 2010 to 2018. Life and career Svanberg holds a master's degree in applied physics from the Linköping ...

, and

Pehr G. Gyllenhammar Pehr Gustaf Gyllenhammar (born 28 April 1935) is a Swedish businessman. He is mainly known for his 24 years as CEO and chairman of Volvo, between 1970 and 1994. In the early 1980s he took the initiative for the European Round Table of Industriali ...

, the initiator of the group back in 1983.

Institute of International Finance

Marcus Wallenberg is Vice-Chairman and Treasurer of the

Institute of International Finance An institute is an organisational body created for a certain purpose. They are often research organisations (research institutes) created to do research on specific topics, or can also be a professional body. In some countries, institutes can ...

.

World Economic Forum

Jacob Wallenberg Jacob Wallenberg (born 13 January 1956) is a Swedish banker and industrialist, currently serving as a board member for multiple companies. ''The Guardian'' has once quoted him as the prince in Sweden's royal family of finance. Biography Earl ...

was Vice-Chairman of

World Economic Forum The World Economic Forum (WEF) is an international non-governmental and lobbying organisation based in Cologny, canton of Geneva, Switzerland. It was founded on 24 January 1971 by German engineer and economist Klaus Schwab. The foundation, ...

and his cousin, Marcus Wallenberg, has been a participant.

ECGI - European Corporate Governance Institute

The Wallenberg-owned

Investor AB Investor AB is a Swedish investment and ''de facto'' conglomerate holding company. It was founded in 1916 and is still controlled by the Wallenberg family through their Foundation Asset Management company FAM. The company owns a controlling st ...

sponsors ECGI.

Atlantic Council

Jacob Wallenberg is a member of the International Advisory Board.

Properties

File:Stockholm 2009 PD 080.JPG, Villa Sirishov, former summer house of André Oscar Wallenberg File:Grand Hotel June 2018 01.jpg, Grand Hotel, Stockholm File:Grand Hotel, Saltsjöbaden 03.JPG, Grand Hotel Saltsjöbaden, built by Knut Agathon Wallenberg File:Birger Jarlsgatan 24, dec 2019a.jpg, Hotel Sparrow, Stockholm File:Bumanska palatset, 2014.JPG, Burmanska Palace File:Stockholm - KAK.jpg, Bolinderska Palace File:Lydmar Hotel, 2014.JPG, Hotel Lydmar, Stockholm File:Malmvik Manor, Lindö, Uppland, Sweden (6853389470).jpg, Malmvik Estate, Lovön, Stockholm File:Prima abitazione di Raoul Gustav Wallenberg - panoramio - Carlo Pelagalli.jpg, Villa Täcka Udden, Djurgården, Stockholm, Wallenbergs' villa for representation File:Wallenbergska villan 01.JPG, Villa Wallenberg File:Villagatan 4 - Wallenbergska huset.jpg, Mansion Wallenberg, purchased by Oscar Wallenberg File:Barcayska huset.jpg, Mansion Barcay, also known as Mansion Wallenberg, purchased by André Oscar Wallenberg File:Wallenbergska huset - a.jpg, Saloon in Mansion Wallenberg File:Strandvägen 27, salong, ca 1910.jpg, Saloon in

Marcus Wallenberg Sr. Marcus Laurentius Wallenberg, Sr. (5 March 1864 – 22 July 1943) was a Swedish banker. He served as CEO of Stockholms Enskilda Bank (SEB) from 1911 to 1920. Early life Wallenberg was born on 5 March 1864 in Stockholm, Sweden, the son of And ...

apartment at

Strandvägen Strandvägen is a waterfront on Östermalm in central Stockholm, Sweden. Completed just in time for the Stockholm World's Fair 1897, it quickly became known as one of the most prestigious addresses in town. Stretching 1 km (3.500 ft) ...

in

Stockholm Stockholm () is the Capital city, capital and List of urban areas in Sweden by population, largest city of Sweden as well as the List of urban areas in the Nordic countries, largest urban area in Scandinavia. Approximately 980,000 people liv ...

. File:Strandvägen_D81_8615_%2841849782032%29.jpg, Strandvägen 27, former home of Marcus Wallenberg Sr. File:Enskilda banken, höst.JPG, Headquarter of SEB, Stockholm File:Arsenalsgatan 8.JPG, Headquarter of

Investor AB Investor AB is a Swedish investment and ''de facto'' conglomerate holding company. It was founded in 1916 and is still controlled by the Wallenberg family through their Foundation Asset Management company FAM. The company owns a controlling st ...

Blasieholmen in Stockholm, Wallenberg family's investment conglomerate File:0314Uppenbarelsekyrka Saltsjöbaden.jpg, Church of Revelation, Saltsjöbaden, built by Knut Agathon Wallenberg File:Handelshögskolan, Stockholm 2018.jpg, Stockholm School of Economics, founded and owned by the Wallenbergs File:Brevik February 2013.jpg, Brevik Estate File:Wij herrgård, Ockelbo, 2020a.jpg, Wij Estate & Gardens File:Tyresö, Saltsjöbaden waterfronts July 2013 - panoramio (34).jpg, Saltsjöbaden locality, founded by Knut Agathon Wallenberg

Quotes

Quotes on the Wallenbergs

Quotes by the Wallenbergs

Ancestry

Notable family members

* Marcus Wallenberg (1744–1799), priest, lector of theology ** Marcus Wallenberg (1774–1833), nephew of Jacob Wallenberg, bishop in

Linköping Linköping () is a city in southern Sweden, with around 105,000 inhabitants as of 2021. It is the seat of Linköping Municipality and the capital of Östergötland County. Linköping is also the episcopal see of the Diocese of Linköping (Church ...

. ***

André Oscar Wallenberg André Oscar Wallenberg (19 November 1816 – 12 January 1886) was a Sweden, Swedish banker, industrialist, naval officer, Business magnate, newspaper tycoon, politician and a patriarch of the Wallenberg family. In 1856 Wallenberg founded the Sto ...

(1816–1886), son of Marcus Wallenberg, naval officer, newspaper tycoon, banker and politician. ****

Knut Agathon Wallenberg Knut Agathon Wallenberg (19 May 1853 – 1 June 1938) was a Swedish banker and politician, he was also a Knight of the Order of the Seraphim. Wallenberg was Minister for Foreign Affairs 1914–1917, and member of the Riksdag's ''Första kammaren ...

(1853–1938), son of André Oscar Wallenberg, banker and politician. **** Gustaf Wallenberg (1863–1937), son of André Oscar Wallenberg, diplomat. ***** Raoul Oscar Wallenberg (1888–1912), son of Gustaf Wallenberg, naval officer. ******

Raoul Wallenberg Raoul Gustaf Wallenberg (4 August 1912 – disappeared 17 January 1945)He is presumed to have died in 1947, although the circumstances of his death are not clear and this date has been disputed. Some reports claim he was alive years later. 31 J ...

(1912–), son of Raoul Oscar Wallenberg, diplomat. ****

Marcus Wallenberg Sr. Marcus Laurentius Wallenberg, Sr. (5 March 1864 – 22 July 1943) was a Swedish banker. He served as CEO of Stockholms Enskilda Bank (SEB) from 1911 to 1920. Early life Wallenberg was born on 5 March 1864 in Stockholm, Sweden, the son of And ...

("Häradshövdingen") (1864–1943), son of André Oscar Wallenberg, banker, industrialist and politician. ***** Sonja Emilie Wallenberg (1891–1970), daughter of Marcus Wallenberg Sr. and Amalia Wallenberg (née Hagdahl), married to count Carl Johan Magnus Johan Björnstjerna. ****** Baroness Ulla Anna Charlotta Björnstjerna (1916-) ****** Baroness Elizabeth Helena Amalia Charlotta Björnstjerna (1917–2010) ****** Baroness Sonja Monica Charlotta Björnstjerna (1920–1955) ****** Baroness Sonja Ingeborg Charlotta Björnstjerna *****

Jacob Wallenberg Jacob Wallenberg (born 13 January 1956) is a Swedish banker and industrialist, currently serving as a board member for multiple companies. ''The Guardian'' has once quoted him as the prince in Sweden's royal family of finance. Biography Earl ...

("Juju") (1892–1980), son of Marcus Wallenberg Sr., naval officer, banker, industrialist. ****** Peder Wallenberg (1935–), son of Jacob Wallenberg, architect, businessman. ******* Fredrik Wallenberg ******* Marie Wallenberg ******* Peder Wallenberg ******* Nicholas Wallenberg ******* Anna Wallenberg ******* Peder Wallenberg Jr. ******* Christopher Wallenberg ******* Alexander Wallenberg ***** Andrea Wallenberg (1894–1980), daughter of Marcus Wallenberg Sr. and Amalia Wallenberg (née Hagdahl), married to count Hakon Mörner af Morlanda ****** Countess Gunilla Bonde Mörner af Morlanda ("Grotte") (1919–1994) ****** Countess Caroline Mörner af Morlanda ("Gyllenkrok") (1922–2004) ***** Gertrud Wallenberg (1895–1983), daughter of Marcus Wallenberg Sr. and Amalia Wallenberg (née Hagdahl), married to count Ferdinand Maria Emmerich Eduard Arco auf Valley, and partner of statesman and baron

Carl Gustaf Emil Mannerheim Baron Carl Gustaf Emil Mannerheim (, ; 4 June 1867 – 27 January 1951) was a Finnish military leader and statesman. He served as the military leader of the Whites in the Finnish Civil War of 1918, as Regent of Finland (1918–1919), as comma ...

***** Ebba Wallenberg (1896–1960), daughter of Marcus Wallenberg Sr. and Amalia Wallenberg (née Hagdahl), married to count Carl Gustaf Bonde af Björnö(1872–1957) ****** Count Peder Carlsson Bonde af Björnö (1923–2013) ***** Marcus Wallenberg Jr. ("Dodde") (1899–1982), son of Marcus Wallenberg Sr., banker and industrialist. ******

Marc Wallenberg Marc "Boy-boy" Wallenberg (28 June 1924 – 19 November 1971) was a Swedish banker and business manager. A member of the prominent Wallenberg family, Marc Wallenberg was CEO of Stockholms Enskilda Bank until his death in 1971. Early life Walle ...

("Boy-Boy") (1924–1971), son of Marcus Wallenberg Jr., banker. ******* Marcus Wallenberg ("Husky") (1956–), son of Marc Wallenberg, banker and industrialist. ******** Marc Wallenberg (born 1986) ******** Elsa Wallenberg ******** Fred Wallenberg ******** Lukas Wallenberg ******* Axel Wallenberg ("Vava") (1958–2011), son of Marc Wallenberg, businessman. ******** Martina Wallenberg ******

Peter Wallenberg Sr. Peter "Pirre" Wallenberg Sr. (29 May 1926 – 19 January 2015) was a Swedish business leader who was chairman of Investor AB for ten years. Early life and education Wallenberg was born in Skeppsholm Parish, Stockholm, Sweden, into the Wallenbe ...

("Pirre") (1926–2015), son of Marcus Wallenberg Jr., banker and industrialist. *******

Jacob Wallenberg Jacob Wallenberg (born 13 January 1956) is a Swedish banker and industrialist, currently serving as a board member for multiple companies. ''The Guardian'' has once quoted him as the prince in Sweden's royal family of finance. Biography Earl ...

(1956–), son of Peter Wallenberg Sr., banker and industrialist. ******** Lovisa Wallenberg Cavalli (born 1988) ******** Jacob Wallenberg Jr. (born 1992) ******** Alice Wallenberg (born 1989) ******* Andrea Wallenberg *******

Peter Wallenberg Jr. Peter “''Poker''” Åke Wallenberg (born 8 May 1959) is a Swedish businessman, chair of eight of the sixteen public and private foundations formed by the Wallenberg family or established in memory of family members. The foundations, which are k ...

("Poker") (1959–), son of Peter Wallenberg Sr., businessman and racing driver. **** Oscar Wallenberg (1872–1939), son of André Oscar Wallenberg, naval officer and businessman. ***** Carol Wallenberg (1904–1985), son of Oscar Wallenberg, businessman. **** Axel Wallenberg (1874–1963), son of André Oscar Wallenberg, industrialist and diplomat. *****

Gustaf Wally Gustaf Wally (24 November 1905 – 3 March 1966) dancer, actor and theatre manager was born Gustaf Wallenberg. He was a member of the industrialist Wallenberg family. He formed the dance troupe the '' Wally brothers'' along with Niels Bagg ...

(1905–1966), son of Axel Wallenberg, dancer, actor and theatre manager. **** Victor Wallenberg (1875–1970), son of André Oscar Wallenberg, sports shooter. ***** Henry Wallenberg (1908–1993), son of Victor Wallenberg, consul general in Monaco. * Jacob Wallenberg (1746–1778), sailor, clergyman and author.

References

External links

Wallenberg Family Tree on Kindo
{{Authority control Banking families Raoul Wallenberg Swedish businesspeople Swedish families

Early History

André Oscar Wallenberg, the founder of the banking dynasty

Late 19th and early 20th century — 2nd generation Wallenbergs

Knut Agathon Wallenberg

Marcus Wallenberg Sr.

Gustaf Oscar Wallenberg

Mid 20th century — 3rd generation Wallenbergs

World War II

Post-war Period

Late 20th century — 4th generation Wallenbergs

Early 21st century — 5th generation Wallenbergs

Modern business

Investor

Patricia Industries

EQT Partners

FAM

Organisations

Bilderberg Group

Trilateral Commission

ICC — International Chamber of Commerce

European Round Table of Industrialists

Institute of International Finance

World Economic Forum

ECGI - European Corporate Governance Institute

Atlantic Council

Properties

Quotes

Quotes on the Wallenbergs

Quotes by the Wallenbergs

Ancestry

Notable family members

References

External links