Wallenberg family

Swedish family prominent in banking and industry

The Wallenberg family is a prominent Swedish family renowned for its significant influence in the fields of banking, industry, and politics. The family has been instrumental in shaping the economic landscape of Sweden and has a legacy that spans over a century.

History

The Wallenberg family's rise to prominence began in the 19th century with André Oscar Wallenberg, who founded the Stockholms Enskilda Bank in 1856. This bank laid the foundation for the family's future financial empire. André Oscar Wallenberg was not only a banker but also a politician and a journalist, which helped him establish a network of influence across various sectors.

20th Century Expansion

In the 20th century, the Wallenberg family expanded their influence through strategic investments and leadership in major Swedish companies. The family is known for its involvement in companies such as Ericsson, ABB, Electrolux, and SKF. The Wallenberg sphere of influence is often referred to as the "Wallenberg sphere," which includes a significant portion of Sweden's industrial and financial sectors.

File:Marcus Wallenberg (1899–1982).jpg

Marcus Wallenberg (1899–1982), a key figure in the family's business empire.

Key Figures

Several members of the Wallenberg family have played pivotal roles in the family's business empire:

• Marcus Wallenberg (1899–1982): Known for his leadership in expanding the family's industrial interests, Marcus was instrumental in the development of Saab AB and Scania AB.
• Jacob Wallenberg (born 1956): A contemporary leader in the family, Jacob Wallenberg serves as the chairman of Investor AB, the family's investment company.
• Peter Wallenberg Sr. (1926–2015): He was a key figure in maintaining the family's influence in the late 20th century, overseeing the diversification of their investments.

Business Interests

The Wallenberg family controls a significant portion of Sweden's economy through their investment company, Investor AB. This company holds substantial shares in various multinational corporations, allowing the family to exert considerable influence over these entities.

Investor AB

Investor AB is the primary investment vehicle for the Wallenberg family. Founded in 1916, it has grown to become one of the largest investment companies in Europe. The company focuses on long-term ownership and development of its portfolio companies, which include major players in industries such as telecommunications, engineering, and healthcare.

Philanthropy

The Wallenberg family is also known for their philanthropic efforts. They have established several foundations that support research, education, and cultural initiatives. The Knut and Alice Wallenberg Foundation is one of the largest private financiers of research in Sweden, supporting projects in medicine, technology, and the natural sciences.

Influence and Legacy

The Wallenberg family's influence extends beyond business into the realms of politics and society. Their ability to navigate and shape the economic and political landscape of Sweden has made them a subject of study and admiration. The family's motto, "Esse non videri" ("To be, not to be seen"), reflects their preference for maintaining a low public profile while wielding significant power behind the scenes.

Related pages

• Investor AB
• Stockholms Enskilda Bank
• Knut and Alice Wallenberg Foundation
• Saab AB
• Scania AB