Famous Entrepreneurs Information

Stefan Persson
Net Worth: $14.5 billion
Source: Hennes & Mauritz/Sweden
Age: 61
Marital Status: Married, three children

• Heads cheap-chic fashion retailer Hennes & Mauritz; H&M known for bringing in big names like Madonna, Karl Lagerfeld, Stella McCartney and Kylie Minogue to design affordable collections for its 1,700 stores.

• Opened first store in Japan last fall.

• Business holding up so far amid economic downturn; sales, profits up 13% each in 2008.

• Stock up 3% in past year, but his fortune dragged down by weak euro.
• Plans to create 6,000 new jobs, open 225 stores this year, including first in Beijing.

• Stefan's father Erling founded H&M in 1947; Stefan took over in 1982, gave up chief executive position in 1998 but remains chairman.

• Son Karl-Johan, 34, will become chief this summer.

• Stefan is a founder of the Mentor Foundation, nonprofit that combats substance abuse among youth.

• Enjoys downhill skiing, tennis and golf.

by Luisa Kroll, Matthew Miller, and Tatiana Serafin

Labels: famous entrepreneurs, H and M, Hennes and Mauritz, Mentor Foundation, Stefan Persson