Kreuger was a Swedish civil engineer, financier, entrepreneur and industrialist. In the 1920s, he was considered one of the most powerful businessmen in Europe, establishing a vast match monopoly, hence his nickname “The Match King”. Kreuger’s financial empire was built on a complex web of financial innovations, including the founding of the Swedish Match Company.
He was also a pioneer in the use of international corporate bonds, and his financial tactics are still studied in business schools today.
Kreuger’s empire came crashing down during the Great Depression. The financial turmoil revealed the precarious nature of his businesses, which were often based on pyramid schemes, and his empire was revealed to be a massive fraud.
He committed suicide on March 12, 1932, in Paris. The collapse of Kreuger’s empire led to significant changes in financial regulations and practices, with tighter controls on financial reporting and securities trading.
