Stefan Persson No: 18 billionaire-2009
by saranya[ Edit ] 2010-03-08 15:49:34
Net Worth:$14.5 bil
Fortune:inherited and growing
Source:Hennes & Mauritz
Age:61
Country Of Citizenship:Sweden
Residence:Stockholm
Industry:Retail
Education:University of Stockholm, Associate in Arts / Science,
Marital Status:married, 3 children
Heads cheap chic fashion retailer Hennes & Mauritz; H&M known for bringing in big names like Madonna, Karl Lagerfeld, Stella McCartney and Kylie Minogue to design affordable collections for its 1,700 stores. Opened first store in Japan last fall. Business holding up so far amid economic downturn; sales, profits up 13% each in 2008. Stock up 3% in past year but fortune dragged down by weak euro. Plans to create 6,000 new jobs, open 225 stores this year, including first in Beijing. Stefan's father Erling founded H&M in 1947; Stefan took over in 1982, gave up chief executive position in 1998 but remains chariman. Son Karl-Johan, 34, will become chief this summer. Stefan is a founder of the Mentor Foundation, nonprofit that combats substance abuse among youth. Enjoys downhill skiing, tennis and golf.
