Economy

The mysterious H&M billionaire: This is how Stefan Persson spends his money

Pascal Le Segretain / Getty Images

Few details are known about the family behind the Swedish fashion giant H&M. This is one of the reasons why people keep joking that H&M stands for “secret and powerful”.

Stefan Persson joined the company that his father founded near Stockholm in 1947 in the 1970s. He turned the business into a global fast fashion empire whose fans stood in line in front of newly opened stores and which worked with famous designers such as Karl Lagerfeld.

In our picture gallery you will find everything that is known about the richest man in Sweden – and what he spends his money on.

This is how the mysterious H&M billionaire spends his money

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This article was published by NewsABC.net in July 2020. It has now been reviewed and updated.

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