Bloomberg Billionaires Index

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#207 Gustaf Douglas $7.40B

Random fact: Graduated from Harvard Business School in 1964.

Overview

Douglas controls Investment AB Latour, a publicly traded investment company that had revenue of 8.3 billion Swedish kronor ($976 million) in 2016. His family owns 78 percent of the Gothenburg, Sweden-based business, whose holdings include security provider Securitas and Assa Abloy, the world's largest lockmaker.

As of July 21, 2017:
Last change +$75.6M (+1.0%)
YTD change +$1.94B (+35.7%)
Industry Diversified
Biggest asset LATOB SS Equity
Citizenship Sweden
Age 78
Wealth Self-made
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Gustaf Douglas's net worth of $7.40B can buy ...

0
troy ounces of gold
0
barrels of crude oil

... and is equivalent to ...

0%
of the GDP of the United States
0%
of the total wealth of the 500 richest people in the world
0%
of the top 100 U.S. college endowments
0%
of the top 200 U.S. executives’ total awarded compensation
0%
of U.S. existing home sales
0
times the median U.S. household income

Latest News

Net Worth Summary

Cash
Private asset
Public asset
Misc. liabilities
Confidence rating:

The majority of Douglas's fortune is derived from his family's 78 percent stake in publicly traded Investment AB Latour, according to the company's 2016 annual report. Its investments include Assa Abloy, the world's largest lockmaker, according to its website. Douglas is credited with all of the assets because he founded the company.

The value of his cash investments is based on an analysis of dividends, market performance, insider transactions, taxes and charitable contributions.

Douglas said in an Aug. 5, 2014 email from his secretary Erna Trankell that his net worth was $5 billion. The email stated that the billionaire valued his stake in Latour at $4.1 billion based on its break-up value at the time, which was higher than its stock market valuation. Phone calls and emails since then weren't returned.

Biography

Birthdate: 1938
Family: Married, 2 children
Education: 1964, Harvard Business School, MBA

Gustaf Douglas was born in 1938, the son of a Swedish count who was the country's ambassador to Brazil. He completed his MBA at Harvard Business School in 1964 and returned to Sweden.

He established Wasatornet, a family holding company, in 1980. Five years later, he bought control of investment company Hevea, whose stakes included security provider Securitas and engineering firm Trelleborg. Douglas recruited future billionaire Melker Schorling to be Securitas's CEO in 1987, the same year Hevea changed its name to Investment AB Latour.

Securitas sold shares on the Stockholm Stock Exchange in 1991. Latour remains its largest shareholder. The billionaire bought Boxholms Skogar, one of Sweden's largest forest owners, in 1998.

Douglas has been a board member of Sweden's Moderate Party since 2002, and was a prominent figure in their successful 2006 election campaign. He is married and has two sons.

Milestones
  • 1938 Gustaf Douglas is born, the son of Sweden's ambassador to Brazil.
  • 1964 Graduates from Harvard Business School.
  • 1987 Recruits Melker Schorling to be CEO of Securitas.
  • 1987 Hevea changes its name to Investment AB Latour.
  • 1991 Securitas sells shares in a public offering in Stockholm.
  • 1998 Acquires Boxholms Skogar, one of Sweden's biggest forest owners.
  • 2013 Stamp collection is displayed by London's Royal Philatelic Society.
  • 2015 Sells his shares in business software maker IFS.