Martin Lorentzon’s net worth 2023: Ever been curious as to how much Martin Lorentzon is worth? Read on, as we take you through the biography, earnings, salary, and net worth of Martin Lorentzon.
Who is Martin Lorentzon and How Much is He Worth?
||Sven Hans Martin Lorentzon
|Date of Birth
|Source of Wealth
Sven Hans Martin Lorentzon is a Swedish entrepreneur and businessman with an estimated net worth of $4.9 billion. Lorentzon is the co-founder of Tradedoubler and Spotify. He is the current vice-chairman of the board of directors of Spotify. Although, he previously served as the chairman of the board between 2008 and 2016.
Additionally, Mr Lorentzon served as a member of the board of directors of Telia Company AB (“Telia Company”), Sweden’s main telecom operator, from 2013 to 2018. He also held senior roles at Telia Company, Cell Ventures, AltaVista, and NetStrategy.
Sven Hans Martin Lorentzon was born on April 1, 1969
Åsenhöga, Småland, Sweden. In 1970, his family moved to Borås, and he spent his childhood in the Hestra quarter. His father, Sven was an economist while his mother, Brita worked as a teacher.
In 1990, Lorentzon began his studies at the Chalmers University of Technology where he studied industrial economics and later finished with a master of science and engineering degree. He then proceeded to attend economics courses at Gothenburg School of Business, Economics, and Law. Still, in his quest for knowledge, Martin also studied economics at the Stockholm School of Economics and took courses in rhetoric and argumentation at Stockholm University.
How Did Martin Lorentzon Make his Fortune?
Lorentzon started his career as an intern in the telephone company, Telia in 1995. He then moved to San Francisco to work with AltaVista. While in Silicon Valley, Lorentzon met other skilled web entrepreneurs and proceeded to found a job investment company called Cell Ventures.
In 1999, Lorentzon and Hagnö (the son of the owners of a Swedish clothing line called Joy) founded NetStrategy which later metamorphosized to become the leading European marketplace Tradedoubler. However, he would later sell the company for $70 million.
In 2006, Tradedoubler bought an advertising service Advertigo, founded by Daniel Ek. The two later became friends. Lorentzon served as a member of the board of directors at Telia, where he also owns about 230,000 shares. Lorentzon is also an investor in student.com, a service that helps students find accommodation.
In April 2006, Daniel Ek and Martin Lorentzon would start a new company called, Spotify. The company started as a music streaming service earning its profit from online advertising and later paid subscriptions.
Due to his desire to see the company grow, he would spend his own money on developers’ salaries, offices, and renting music licenses. Because of these expenses, Lorentzon’s share in Spotify turned out to be the largest. Lorentzon owns 12.7% shares of Spotify with 43.3% voting rights. Between 2006 to 2013, Lorentzon was the CEO of Spotify and chairman of the board of directors from 2008 to 2016.
What is Martin Lorentzon Net Worth?
As of 2023, Martin Lorentzon has an estimated net worth of $4.9 billion. Most of his earnings come from the company he co-founded, Spotify. He also earns money from his numerous investments in other technological innovations. Lorentzon is also an investor in a startup, Sniph, a perfume subscription box.
Martin Lorentzon is a Swedish entrepreneur, businessman, and investor with an estimated net worth of $4.9 billion. He is the co-founder of the music streaming platform, Spotify of which he is the serving vice-chairman of the board of directors. Lorentzon has investments in other startups and these have contributed to his net worth.