🔗 Wallenberg Family

The Wallenberg family are a prominent Swedish family, Europe's pre-eminent, most powerful business family and dynasty, renowned as bankers, industrialists, politicians, bureaucrats, and diplomats.

The Wallenberg sphere's holdings employ about 600,000 people and have sales of $154 billion a year.

The Wallenberg empire consists of 16 Wallenberg Foundations, Foundation Asset Management (FAM), Investor AB, Patricia Industries and Wallenberg Investments AB.

The Wallenbergs control and are majority owners of most large Swedish industrial groups, such as world leading telecommunication multinational Ericsson, Scandinavian and Baltic bank giant Skandinaviska Enskilda Banken, one of the world's largest paper and pulp multinationals Stora Enso, Wärtsilä, world's second largest appliance maker Electrolux, one of the world's largest power, automation and robotics multinationals ABB, one of Europe's largest aerospace and arms manufacturers SAAB, SAS Group, world's largest ball-bearing company SKF, Atlas Copco, pharmaceutical multinational Astra Zeneca, Nasdaq, Inc., Husqvarna, the Stockholm football club AIK, investment company Investor AB, the Grand Group hotel, BraunAbility, Epiroc, world's largest powdered metal company Höganäs AB, IPCO, Laborie, EQT Partners, Nefab, Permobil, Piab, Sobi, Sarnova, 3 Scandinavia, Kopparfors Skogar, Hylte Bruk AB and so on.

Former holdings include among others Scania AB and Saab Automobile.

In the 1970s, the Wallenberg family businesses employed 40% of Sweden's industrial workforce and represented 40% of the total worth of the Stockholm stock market.

Wallenbergs, through the Knut and Alice Wallenberg Foundation, allocate annually SEK 2 billion to science and research, which makes the Knut and Alice Wallenberg Foundation one of the largest private research foundations in Europe, and has, until 2020, awarded SEK 31.2 billion in grants.

The most famous of the Wallenbergs, Raoul Wallenberg, a diplomat, worked in Budapest, Hungary, during World War II to rescue Jews from the Holocaust. Between July and December 1944, he issued protective passports and housed Jews, saving tens of thousands of Jewish lives.