Wallenberg is getting ready to hand over Sweden to the next generation

Published 3 November 2024 at 13.02

Domestic. The Wallenberg financial family, which controls a third of Sweden's GDP, is now beginning a historic transition into its sixth generation, reports the Financial Times.

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Dagens most prominent owners Jacob and Marcus Wallenberg, both 68 years old, confirm that 30 family members between the ages of 12 and 45 will now have the opportunity to observe board work within their foundations and companies.

The aim is to equip the young generation to take over the country.

– We are not getting any younger. We need to prepare for the future and the next generation, says Jacob Wallenberg to the newspaper.

– By giving them these roles, we hope that they can develop and contribute in different areas.

For for the first time in the family's 168-year history, women are also involved in management, something that Marcus and his liberal cousins ​​warmly welcome.

The family's unique tax planning, where the companies on paper are owned by foundations rather than the family members themselves, creates a particular dynamic with Sweden and its governments throughout the ages, which have never done anything other than accept the family's arrangement.

The Wallenberg family, which has historically had a great influence on Sweden's economy and international relations, is also considered by many to have been the the driving force behind Sweden and Finland's controversial accession to NATO.

During a secret meeting between the Wallenberg family and representatives from the governments of both Sweden and Finland, the family is said to have instructed the Swedish government to apply for membership in the alliance, which also happened shortly afterwards .

The Wallenberg family, with its deep roots in Swedish industry and the defense sector, has long-standing relationships with both government and business in both Finland and Sweden.