The driving forces of the Wallenberg empire are approaching their 70s and now the oligarch family is accelerating the generational change.

Six “new” Wallenberg members are proposed to join the family’s corporate boards and another “10 or so other members of the sixth generation” have already started to get involved in Wallenberg companies and foundations.

Often described as Sweden’s most influential financial family, Wallenberg’s banking and industrial empire is said to control around one-third of Sweden’s total GDP, and they control or have stakes in Investor, SEB, Ericsson, Saab, Electrolux, ABB, Astra Zeneca and Atlas Copco. They also have an international political profile, including in the globalist power network Bilderberg Group.

The family patriarch, Peter Wallenberg, died in 2015 at the age of 89. Since then, his sons Jacob and Peter Jr have ruled the empire together with his cousin Marcus Wallenberg. They too are now getting on in years and are all of retirement age. To retain power within the family, a generational change has now been initiated, where it is time for younger family members to take their place on the boards of the Wallenberg sphere.

“The starting point for the succession work is a desire to give the sixth generation the opportunity to get involved in activities that have close ties to the family. The succession work has been going on for more than 10 years and we have continuously and increasingly tried to be open about the driving forces behind this work and the principles on which it has been conducted”, they write in a press release.

“The sixth generation comprises around 30 individuals and most of them have expressed a desire to contribute to the family’s work in some form. The age range is large, which means that the changes that are now taking place are part of an ongoing process, and not a decision about who will be able to hold positions of importance to the family over time. A number of family members are still under 25, and the number of individuals in the seventh generation is growing”.

“Long-term work”

For 2025, it is therefore initially proposed that six younger Wallenberg members take up senior positions on the family boards:

• Stéphanie Gandet – proposed board member of the Knut and Alice Wallenberg Foundation
• Siri Sachs – proposed board member of Wallenberg Investments AB
• Tessa Pilkington – proposed board member of Nineteen Private Capital AB
• Fred Wallenberg – proposed board member of Investor AB
• Jacob Wallenberg Jr – proposed board member of EQT AB
• Elsa Wallenberg Esser – will start working at the Wallenberg Foundations

It also states that “some 10 other members of the sixth generation” are already involved in activities related to the family’s companies and foundations.

“We are grateful that many of the sixth generation want to get involved in activities linked to the family – in the business, the foundations and the family work. This is a long-term endeavor where we look forward to more people being given the opportunity to learn, develop and contribute”, comment Jacob, Marcus and Peter Wallenberg.