Stefan Persson is Sweden's richest person by way of global cheap chic fashion retailer Hennes & Mauritz, of which he owns 36%. Persson stepped down as chairman in May 2020 after 22 years in the role; his son Karl-Johan succeeded him. H&M was founded by Persson's father Erling in 1947. Persson's two other children, Charlotte Söderström and Tom Persson, and his sister Lottie Tham, are also billionaires.