Peter Wallenberg, Sr.

Peter Wallenberg, Sr.
Born (1926-05-29)29 May 1926
Skeppsholm Parish, Sweden
Died 19 January 2015(2015-01-19) (aged 88)
Värmdö Parish, Sweden
Nationality Swedish
Occupation businessman

Peter Wallenberg, Sr., (29 May 1926 – 19 January 2015) was a Swedish business leader who was chairman of Investor AB for ten years.

Early life and education

Wallenberg was born in Skeppsholm Parish into the Wallenberg finance family, which has roots in Östergötland. He was the son of Marcus Wallenberg and Dorothy Mackay, the younger brother of Marc Wallenberg and the nephew of Jacob Wallenberg.[1][2] He earned a Candidate of Law degree in 1949 from Stockholm College, now Stockholm University.[3]

Career

He began his career in 1953 at Atlas Copco. During the 1960s he worked in Africa. For a long time he stood in the shadow of his father, who made his oldest son Marc his apprentice and doubted his youngest son Peter's abilities.[4][5] Only in 1982, after his father's death, did he become a prominent member of the Wallenberg clan.

After his father's death, Peter Wallenberg bought out Volvo's shares in two family businesses and merged the three family investment firms, Investor, Providentia and Export Invest. He served as chairman of Investor AB for ten years,[6] during which time he internationalised the firm and set in motion international mergers that created companies such as ABB, AstraZeneca and Stora Enso.[7]

Wallenberg was the chairman of Handelshögskoleföreningen, the foundation which governs the Stockholm School of Economics, from 1989 to 2001.[8] Until his death he also directed several of the Wallenberg family foundations, in particular the Knut and Alice Wallenberg Foundation and the Marianne and Marcus Wallenberg Foundation. The Peter Wallenberg, D.Econ, Foundation for Economics and Technology (Ekon.dr Peter Wallenbergs Stiftelse för Ekonomi och Teknik) was founded in 1996 to honour him on his 70th birthday.

Wallenberg died in Värmdö Parish on 19 January 2015 at the age of 88.[9][10]

Honours

Wallenberg was awarded honorary doctorates in technology and economics. He is the recipient of H. M. The King's Medal in the 12th size on the Royal Order of the Seraphim ribbon and the Seraphim Medal.[3][11][12][13]

References

  1. ↑ Svenska Släktkalendern 2000 pages 350–353
  2. ↑ "Peter Wallenberg, patriarch of Swedish business empire, dies at 88". Fox News. Retrieved 19 January 2015.
  3. 1 2 "Peter Wallenberg, Benny Andersson och Karin Bojs några av årets hedersdoktorer vid Stockholms universitet" (in Swedish). Stockholm University. 10 November 2011.
  4. ↑ Att förvalta sitt pund, Marcus Wallenberg: 1899-1982, Ulf Olsson, Ekerlid, 2000.
  5. ↑ I båt och bank och bank med Jacob Wallenberg, Carl Frostell, 1998.
  6. ↑ "Peter Wallenberg död". Dagens Nyheter. Retrieved 19 January 2015.
  7. ↑ Magnusson, Niklas (19 January 2015). "Peter Wallenberg Sr., Swedish Creator of Companies, Dies at 88". Bloomberg. Retrieved 19 January 2015.
  8. ↑ Sveriges Radio. "Peter Wallenberg är död". Retrieved 19 January 2015.
  9. ↑ Jan Almgren-jan.almgren@svd.se. "Familjen samlas efter Peter Wallenbergs död". SvD.se. Retrieved 19 January 2015.
  10. ↑ "Peter Wallenberg, patriarch of Swedish business empire, dies". timesfreepress.com. Retrieved 19 January 2015.
  11. ↑ "Medaljförläningar 2000-01-28" (in Swedish). Swedish Royal House. 28 January 2000.
  12. ↑ "Protester mot Peter Wallenbergs doktorshatt". Svenska Dagbladet (in Swedish). 24 September 2008.
  13. ↑ "Medal presentations". Swedish Royal Court. Retrieved 26 February 2015.


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