Net Worth

Stefan Persson Net Worth

Stefan Persson Net Worth in 2022

What is Stefan Persson’s Net Worth in 2022? 

Stefan Persson is a business magnate from Sweden. Persson’s father, Erling Persson, created the fashion brand H&M in 1947, and he is the chairman and majority shareholder. In 1982, he took over the business from his father and remained as its manager until 1998.

H&M was Europe’s largest retail clothing chain by the late 1990s. Its reputation is built on rapid fashion and trendy designs that appeal to a wide range of people. Stefan Persson’s net worth is expected to be at $25 billion in 2022.

Net Worth: $25 Billion
Age: 75
Born: October 4, 1947
Country of Birth: Sweden
Profession: Entrepreneur
Updated: 2022

Stefan Persson Formative Years

Carl Stefan Erling Persson was born in Stockholm, Sweden, on October 4, 1947. Persson learned about the fashion industry from his father, Erling Persson, who started Hennes, a women’s clothes business, in 1947.

The company opened a store in Stockholm and quickly established itself as a fashion staple in the Swedish market before expanding to other European countries.

Career Men’s clothes were added after the company acquired Swedish hunting-gear merchant Mauritz Widforss in 1968, and the company became known as H&M.

Persson, who joined the family business in 1972, was instrumental in its European expansion and was present in London when the first British store opened in 1976. When his father became chairman of the board of directors in 1982, he took over as managing director and CEO of H&M.

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H&M has grown to become Europe’s largest retail clothing chain by the late 1990s. H&M’s fame grew as a result of its “quick fashion” — low-cost, stylish designs with broad appeal, all of which were designed by in-house designers.

H&M had around 2,500 stores in more than 40 countries by 2012. The majority of H&M’s brands were in-house labels. Persson capitalized on celebrity appeal by enlisting the help of fashion designers such as Karl Lagerfeld, Stella McCartney, Matthew Williamson, Jimmy Choo, Versace, and Marni, as well as pop singers Kylie Minogue and Madonna, to create design lines. Stefan Persson’s personal fortune is expected to be at $25 billion in 2022.

Memorable Moment:

H&M’s principal shareholder and chairman, Stefan Persson, is also the founder of the Mentor Foundation.

In Conclusion

Stefan Persson is a Swedish business entrepreneur who made his fortune mostly through Hennes & Mauritz (H&M), the fashion firm founded by his father, Erling Persson. Hennes & Mauritz, better known as H&M, is the world’s second-largest private-label fashion shop, with Persson owning 38.8% of the company. Stefan Persson’s net worth is expected to be at $25 billion in 2022.

The Author

Oladotun Olayemi

Dotun is a content enthusiast who specializes in first-in-class content, including finance, travel, crypto, blockchain, market, and business to educate and inform readers.