Swedish fashion retailer, Tom Persson had an estimated net worth of $2.8 billion as of 2015, according to Forbes. This declined to $1.6 billion as of October 18, 2018. The London-based Persson is the younger son of Sweden’s richest man, Stefan Persson. The family runs the fashion retailer Hennes & Mauritz (H&M), a company founded by his grandfather Erling Persson in 1947. In 2009, Tom’s elder brother Karl-Johan Persson, took over from their father as president and chief executive of H&M. His father has several properties all over London, Paris and Stockholm and, in 2009, acquired the 21-cottage village of Linkenholt in Hampshire, England.