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The Wallenberg family's journey commenced largely due to one man's vision. In the mid-1800s, Sweden was rife with potential yet bereft of economic momentum. Andre Oscar Wallenberg, inspired by a book on banking, laid the foundation of what would become Sweden’s first private bank—Stockholm’s Enskilda Bank—in 1856. This crucial development marked the onset of Sweden's economic evolution.
With the emergence of his son, Knut Wallenberg, the family’s banking operations extended beyond domestic boundaries to international markets, eventually accumulating a formidable fortune. However, it was upon the establishment of Investor AB in 1916, following legislative restrictions on banks holding excessive industrial shares, that the family's financial trajectory firmly cemented.