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#206 Melker Schorling $7.45B

Random fact: Daughters Marta and Sofia sit on the board of Melker Schorling AB.

Overview

Schorling is the founder of Melker Schorling AB, a closely held investor in long-term industrial projects. The Stockholm-based company had 58.6 billion Swedish krona ($6.5 billion) in assets as of Dec. 31, 2016. The investment manager ceased trading publicly in January 2018 and continued its activities on a closely held basis.

As of April 26, 2018:
Last change No change
YTD change +$130M (+1.8%)
Industry Diversified
Biggest asset Melker Schorling AB
Citizenship Sweden
Age 70
Wealth Self-made
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Melker Schorling's net worth of $7.45B can buy ...

0
troy ounces of gold
0
barrels of crude oil

... and is equivalent to ...

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

Latest News

Net Worth Summary

Cash
Private asset
Public asset
Misc. liabilities
Confidence rating:

The majority of Schorling's net worth is derived from his control of Melker Schorling AB, the Stockholm-based holding company he founded in 1999 and listed on the Swedish stock exchange in 2006. Schorling and his family had an 86.1 percent stake in the company, according to its 2016 annual report, prior to it being taken private in January 2018. The valuation used here is based on the company's final share on the day it stopped trading, Jan. 19, 2018. He's credited with all of his family's stake in this analysis to reflect his status as founder. 

Schorling served as chief executive of security service provider Securitas between 1987 and 1992, and construction company Skanska between 1993 and 1997. He controls shares in both companies, two of Sweden's largest, through his holding company. Melker Schorling AB also has a stake in Assa Abloy, the world's largest lockmaker.

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

Schorling's press office didn't respond to email requests for comment.

Biography

Birthdate: 1947
Family: Married, 2 children
Education: 1970, Master's Degree, Business Administration, University of Gothenburg 1970, Graduated, Economics, Handelshoegskolan I Goeteborg

Melker Yngve Georg Schorling was born on May 15, 1947, in Gotlunda, Sweden, the son of a farmer. He studied business and economics at Gothenburg University's Business School, graduating in 1970. He spent five years working for LM Ericsson, a Swedish industrial group in Mexico, before returning to Sweden to work for equipment maker ABB Flakt in Stockholm.

He became chief executive officer of Essef Service, a company that repaired industrial machinery, in 1979. He held the job for four years, during which he impressed Swedish billionaire Gustaf Douglas, who had bought the unprofitable security company Securitas in 1985. Two years later, Douglas visited Schorling at his waterfront home in Malmo, Sweden, and asked him to become Securitas' chief executive. Schorling accepted and bought a 17.5 percent stake in the company for 24 million Swedish kronor ($3.8 million).

The company sold shares in a public offering on the Swedish stock exchange in 2006, an event that valued it at $385 million, according to data compiled by Bloomberg, and giving Schorling a return of more than 1,600 percent. He moved to construction firm Skanska in 1993, and left four years later to manage his personal investments, which by then had included lock maker Assa Abloy, a Securitas spinoff.

He founded his investment company Melker Schorling AB in 1999 and it joined the Swedish stock exchange seven years later. Schorling retained an 85 percent stake. The company has six main holdings, including a 23 percent stake in measuring instrument maker Hexagon and vegetable fat processor AarhusKarlshamn.

Schorling lives in Stockholm with his wife, Kerstin. His two daughters, Marta and Sofia, sit on the board of Melker Schorling AB.

Milestones
  • 1979 Appointed president of Essef Service in Stockholm.
  • 1987 Invests in security firm Securitas and becomes its CEO.
  • 1991 Securitas sells shares in a public offering on the Stockholm stock exchange.
  • 1993 Appointed CEO of Swedish construction company Skanska.
  • 1997 Leaves Skanska to focus on managing his investments.
  • 1998 Becomes chairman of board for measurement instrument maker Hexagon.
  • 2006 Melker Schorling AB begins trading on the Swedish stock exchange.
  • 2011 Holding company divests its shares in Niscayah to Stanley Black & Decker.