Martin Lorentzon Biography
Martin Lorentzon is a Swedish businessman who co-founded Tradedoubler and Spotify. He served on the board of Telia Company from 2013 until 2018. He has been an expert on the integration of immigrants in Sweden for the Moderate Party commission New Swedish Model since April 2019.
How old is Martin Lorentzon? – Age
He is 54 years old as of 1 April 2023. He was born in 1969 in Borås, Sweden.
Martin Lorentzon Family
Lorentzon was born the town of Senhöga, in the Gnosjö district of Smland province, in the south of Sweden. His family moved to Bors in February 1970, and he grew up in the Hestra quarter. His mother Brita was a teacher, while his father, Sven, was an economist. Lorentzon has two older brothers and sisters.
Martin Lorentzon Education
Lorentzon told his classmates at Bors’ Särlaskolan primary school that he planned to become a billionaire by selling one matchbox to every Chinese citizen. He went to Sven Eriksonsgymnasiet’s technical department for high school, where he liked to go to parties but always placed education first: if there was a party before an exam, he would lie and say he was sick and had to stay home.
Lorentzon began his studies at Chalmers University of Technology in 1990, where he majored in industrial economics and graduated with a Master of Science and engineering degree. He studied economics at Gothenburg School of Business, Economics, and Law. Lorentzon also studied economics at Stockholm University and rhetoric and argumentation at Stockholm School of Economics.
Martin Lorentzon Net Worth
He has an estimated net worth of $4.4 million.
Martin Lorentzon Spotify
Ek and Lorentzon decided to form a new company in April 2006. Lorentzon resigned from Tradedoubler’s board of directors and donated Ek one million euros. Spotify was founded in June 2006. Spotify began as a music streaming service that made money through internet advertising, a market that they both understood well.
Lorentzon used his own money to pay developer salaries, rent offices, and rent music licensing. They attempted to obtain investor funds, but Lorentzon was dissatisfied with the terms of cooperation given. Lorentzon’s stake in Spotify became the greatest as a result of these unforeseen expenses. His option is worth more than $4 billion; he has 43.3% voting rights and owns 12.7% of the company. Hagnö opted to join his former colleague’s enterprise and now controls 6.6% of the $1.5 billion in shares.
Lorentzon served as CEO from 2006 to 2013 and as Chairman of the Board of Directors from 2008 to 2016, before Ek took up both positions. In interviews, Ek and Lorentzon claim to be best friends and that they have not gone a day without speaking at least once since 2006. Lorentzon is in charge of defining the company’s future goals and development strategy, as well as the budget, salaries, and legal and annual financial reports.
Martin Lorentzon Career
In 1995, Lorentzon began an entry-level position at the Swedish phone officeholder, Telia. He moved to San Francisco and worked in the AltaVista office there. In Silicon Valley, he met gifted web business people and got a new line of work at a speculation organization called Cell Adventures, where he met Felix Hagnö, the child of the proprietors of a Swedish dress line called Satisfaction. In September 1999, Lorentzon and Hagnö established Netstrategy, which would later turn into the main European commercial center Tradedoubler.
The organization before long turned out to be monetarily productive and socially acclaimed; in 2001, it won the Swedish Guldmusen prize for “IT-the latest phenom”, the Swedish Exchange Gathering the Unified Realm prize “Accomplishment Grant” in 2002 for Swedish organizations that have been the best in the UK over the course of the last year, and the Swedish “Commodity Hermes” prize in 2004 for the best Swedish sending out organization. Lorentzon then, at that point, moved to Germany.
Web deals topped and in 2005 he sold his Tradedoubler choice for US$70 million. He conceded the job of karma in this achievement. Lorentzon moved back to Sweden following decade abroad. In Walk 2006 Tradedoubler purchased promoting administration Advertigo, made by Daniel Ek. Ek and Lorentzon immediately became companions, finding that they had normal encounters of melancholy due to startling riches and an absence of direction.
From April 2013 to Walk 2018, Lorentzon was an individual from the top managerial staff at Telia, and claimed 230,000 offers. In 2013, Lorentzon joined Sovereign Daniel’s Cooperation Undertaking, and visits upper optional schools, colleges, and college universities around Sweden to move youngsters to engage in business venture. In 2016, he was chosen as an individual from the Imperial Swedish Foundation of Designing Sciences under the Branch of Schooling and Exploration, which advances contact and trade between business, examination, and government elements.
In April 2013, media examination zeroed in on Lorentzon’s relationship with the Swedish expense office. Lorentzon’s Spotify and Telia-subsidiary organizations are arranged in seaward monetary focuses: Rosello is enrolled in Cyprus and Amaltea is in Luxembourg. In 2005, he re-enlisted TradeDoubler on Cyprus, decreasing his duty installment by $9 million. In 2006, he paid 1.4 million euro in charges. Spotify was additionally re-enlisted at that point in Luxembourg, where personal expense is lower.
In 2014, Lorentzon was named Global Swede of the Year, and in 2015, he was granted the Affärsbragden (The Business Accomplishment) from the paper Svenska Dagbladet. In the spring of 2015, Lorentzon was given a privileged doctorate at the Chalmers College of Innovation. In April 2019, Lorentzon was doled out a foreigners’ mix issues master in a Moderate Party commission New Swedish Model made by Ulf Kristersson.