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Billionaire Profile
Stefan Persson
Global Rank
#118

Image: Prolineserver | CC BY-SA 3.0 | via Wikimedia Commons

Stefan Persson

CEO, H&M
SWEDEN
Real-Time Net Worth
$22.889B
Estimated based on H&M stock value as of April 20, 2026
-0.17% (24h)
Age
78
Source
H&M
Industry
fashion-retail
Citizenship
SWEDEN

Biography

Stefan Persson, born in 1947, is a Swedish business magnate best known for his pivotal role in transforming H&M into a global fashion powerhouse. His journey began with his father's company, Hennes, which he later led as CEO and chairman. Persson's strategic vision and leadership propelled H&M's expansion, establishing it as a dominant force in the fast-fashion industry. His wealth source is primarily from his ownership stake in H&M, and his current net worth is estimated to be $23.6 billion, making him one of Sweden's wealthiest individuals. Persson's career is marked by his ability to anticipate market trends, drive international growth, and ensure the company's long-term success.

Fact Checked
Verified by Editorial Team
Live Data
Updated 4/20/2026

Wealth Over Time

In-Depth Profile

Early Life

Carl Stefan Erling Persson was born on October 4, 1947, in Stockholm, Sweden. He is the son of Erling Persson, who founded Hennes (later H&M) in 1947. Persson earned an associate qualification from Stockholm University.

Rise to Success

Stefan Persson joined the family business in 1972 after studying at Stockholm University and gaining international experience. He became CEO of H&M in 1982, succeeding his father. During his tenure as CEO (1982-1998) and later as chairman (1998-2020), Persson led the company's expansion beyond Sweden and into key European markets. He is credited with pioneering the fast-fashion model, emphasizing affordable and trendy apparel. H&M's success under his leadership included collaborations with designers like Karl Lagerfeld and Stella McCartney and its entry into the U.S. market in 2000.

Key Business Strategies

Persson's key business strategies revolved around international expansion, maintaining a focus on affordable fashion, and adapting to changing market trends. He oversaw the acquisition of other brands, like COS, Weekday, Monki, and & Other Stories, diversifying the company's portfolio. Persson also recognized the importance of online presence and invested in H&M's digital retail capabilities.

Philanthropy

Persson is the founder of the Mentor Foundation, a non-profit organization that aims to combat substance abuse among young people.

Career Milestones

1947

H&M Founded

Erling Persson founded Hennes in Västerås, Sweden, which later became H&M.

1972

Joined H&M

Stefan Persson joined the family business after studying at Stockholm University.

1982

CEO of H&M

Stefan Persson became the CEO of H&M, succeeding his father.

1998

Chairman of H&M

Stefan Persson stepped down as CEO and became Chairman of H&M.

2000

U.S. Market Entry

H&M opened its first store in the United States.

2020

Stepped down as Chairman

Stefan Persson stepped down as chairman and was succeeded by his son Karl-Johan Persson.

Philanthropy & Social Impact

Youth Support

Mentor Foundation

Undisclosed

A non-profit organization combating substance abuse among young people.

Business Philosophy & Leadership

Notable Quotes

"No notable quotes found."

Leadership Principles

Focus on Fast Fashion

Pioneering trendy designs at affordable prices with quick production cycles.

International Expansion

Expanding the brand's presence across Europe, North America, and Asia.

Family Control

Maintaining family control over H&M.

Controversies & Challenges

2005

Kate Moss Contract Cancellation

Cancelled H&M modeling contract of Kate Moss after photographs of her allegedly snorting cocaine surfaced.

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