The first and biggest of these foundations was set up in 1917 by childless Knut Wallenberg as a tax-saving way to keep the family wealth together.

ECONOMIST: The Wallenbergs: Sweden's enduring business dynasty | The

In 1917 Knut Wallenberg set up the first, and biggest, of the charitable foundations that have become repositories for most of the family's wealth.

ECONOMIST: The Wallenbergs