Wallenberg family

Wallenberg family
Grand Hotel Saltsjöbaden; built in 1890s by the Wallenberg family, and a regular venue for Bilderberg Conferences.
Founder of	Norsk Hydro

The Wallenberg family is a prominent Swedish family dynasty renowned as bankers, industrialists, politicians, bureaucrats, and diplomats.

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. In 1990, it was estimated that the family indirectly controlled one-third of the Swedish Gross National Product.

The Wallenbergs are present in most large Swedish industrial corporations, like Ericsson, Electrolux, ABB, SAAB, SAS Group, SKF, Atlas Copco and more.

The Wallenbergs have a very low-key public profile, eschewing conspicuous displays of wealth. The family motto is Esse, non Videri (Latin for "To be, not to be seen"). Their power is used behind the scenes, and the family have had members on the Bilderberg Steering Commitee, and several other attendees. In addition, a significant number of the Swedish and Scandinavian Bilderberg attendees have strong connections to the family companies.

The two overarching companies are the holding company Investor AB, which again owns the bank Skandinaviske Enskilda Banken (formerly Stockholmska Enskilda Banken).

History

The Wallenberg Financial Empire was founded by André Oscar Wallenberg, who in 1856 started Stockholms Enskilda Bank, following the Scottish banking model, which is one of the forerunners of today's Skandinaviska Enskilda Banken (SEB).

Taking over the Ivar Kreuger Empire

During the 1920s, the Wallenberg sphere and the tycoon (the Match King') Ivar Kreuger were the main competitors for power in the Swedish business community. When Kreuger made his (last) request in February 1932 to the government Riksbanken for bank guarantees to keep his empire afloat, all the major Swedish commercial banks agreed to this, except for Stockholm's Enskilda Bank. After Kreuger's company was declared bankrupt, several of the Kreuger-controlled industrial companies were taken over by the Wallenberg sphere and these still form the core of the current holding.

The management and development of the remnants of the Ivar Kreuger empire fell on Marcus Wallenberg Sr., who dominated the Swedish business community for more than half a century. Together with Curt Nicolin, he secured the family's dominant position in Swedish business during and after WW2.

During the War the Bank conducted major business activities with the German government. The Secretary of the US Treasury, Henry Morgenthau Jr. considered Jacob Wallenberg strongly pro-German, and the US subjected the Bank to a blockade that was only lifted in 1947.

After Marcus Wallenberg's death, a power vacuum arose within the leadership. His eldest son Marc had committed suicide in 1971 and the younger son Peter, who not considered fit by the father to hold leading position in the empire.

Thereafter, the management of the empire ended up in practice with officials within Investor AB. In practice, however, Peter Wallenberg took command of the holdings during the 1980s and significantly increased the assets. He died in 2015, but the sons Jacob (born 1956) and Peter jr. (born 1959) and their cousin, Marc's son Marcus (born 1956) now (2020) run the business.

Raoul Wallenberg

Another famous Wallenberg, Raoul Wallenberg, worked as a diplomat (and possibly for intelligence services) in Budapest, Hungary, during World War II where he between July and December 1944 issued protective passports and housed Jews, saving tens of thousands of lives.

The Saltsjöbaden Agreement

The Saltsjöbaden Agreement (Swedish: Saltsjöbadsavtalet) is a Swedish labour market treaty signed between the Swedish Trade Union Confederation (Swedish: Landsorganisationen, LO) and the Swedish Employers Association (Swedish: Svenska arbetsgivareföreningen, SAF) on 20 December 1938, that became a model for other agreements. The rules on industrial action have come to be regarded almost as general legal principles of conflicts between the labor market forces, containing a prominent role of collective agreements (regulation by the labor market parties themselves) and a climate of co-operation between employers and workers organizations. The agreement is still in effect, with the latest changes being made in 1976.

The agreement was signed in the family's Grand Hotel Saltsjöbaden, thus giving the family's - which owns most of Sedish industry - imprimatur to the agreement.

Full article: Jacob Wallenberg

Full article: Marcus Wallenberg Sr.

Full article: Marcus Wallenberg Jr.

Full article: Marcus Wallenberg (born 1956)

Full article: Peter Wallenberg

Full article: Knut Agathon Wallenberg

Full article: Raoul Wallenberg

 

Known members

8 of the 10 of the members already have pages here:

Member	Description
Marcus Wallenberg Jr	Banker businessman patriarch of the Wallenberg family.
Jacob Wallenberg	Third generation Bilderberg (Steering committee), European Round Table of Industrialists
Knut Agathon Wallenberg
Marc "Boy-boy" Wallenberg	Wallenberg family businessman who killed himself after family intrigues
Marcus Wallenberg (born 1956)	Swedish deep state operative, ex-Bilderberg Steering Committee
Marcus Laurentius Wallenberg	Swedish banker who consolidated the Wallenberg family business empire after the fortuitous death of rival tycoon Ivar Kreuger.
Peter Wallenberg	Second generation Bilderberg
Raoul Wallenberg

 

Related Document

Title	Type	Publication date	Author(s)	Description
File:Anonymous-Operation Want.pdf	report	2 April 2011		A report into the finances of the Wallenberg family as they relate to a proposal to create an additional seat on the NASDAQ OMX Group Board of Directors which is currently (2 April 2011) awaiting SEC approval.

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10 October 2021 Terje 

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