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Ivar KreugerSwedish engineer, financier, entrepreneur and industrialist
Date of Birth: 02.03.1880
Country:  Sweden |
Content:
Early Life and Education
Ivar Kreuger was born in Kalmar, Sweden, on March 2, 1880. His father, Ernst August Kreuger, was a successful match industry entrepreneur and his mother, Jenny Emilie Forsman, hailed from a wealthy family. Ivar had five siblings: Ingrid, Helga, Torsten, Gretha, and Britta.
Growing up in a family with strong ties to the match industry, Ivar developed a keen interest in engineering. He completed his secondary education at the age of 16 and enrolled at the Royal Institute of Technology in Stockholm. There, he excelled in both mechanical engineering and civil engineering, graduating with a master's degree at the age of 20.
Founding Kreuger & Toll
In 1908, Ivar co-founded the construction company Kreuger & Toll Byggnads AB with Torsten Toll. Known for their innovative building technologies, the company quickly gained recognition. Ivar's expertise in engineering and his astute financial acumen would later prove invaluable in building his empire.
Business Expansion
Kreuger's ambitious spirit and aggressive investment strategies led to the rapid expansion of his empire. He acquired multiple European and American match monopolies, forming a global match industry empire that controlled two-thirds of the world's match production. Dubbed the "Match King," Kreuger became immensely wealthy and influential.
Financial Collapse
During the Great Depression, Kreuger's financial empire, which was heavily reliant on debt and risky investments, began to crumble. His empire resembled a financial pyramid scheme, and the collapse of the global economy exposed its vulnerabilities.
Tragic Demise
On March 12, 1932, Ivar Kreuger was found dead in his Paris hotel room. The official cause of death was suicide. Kreuger's untimely demise sent shockwaves through the financial world and cast a shadow over the once-mighty match industry empire.
