Investing for the Long Term: Six Generations and Going Strong - Wallenbergs of Sweden

In Swedish society, the Wallenbergs had played a prominent role for several decades. The members of the family had served as bankers, politicians, philanthropists, statesmen, and industrialists. The founding father of the Wallenberg business empire was André Oscar Wallenberg (Oscar), who was the son of a Lutheran Bishop. In his early years, Oscar had worked as a naval officer and then had a career in the sawmill industry. In 1856, Oscar along with some partners founded Stockholms Enskilda Bank (SEB). The bank used the savings capital to fund companies – a rare practice in Sweden at that time – which brought about a revolution in the Swedish banking industry...