⬅ # 686 Stephen Feinberg|# 688 Arte Moreno

# 687 Antti Herlin 

$4.65B

Real Time Net Worth
as of 5/21/2024
-$35.9M (-0.77%)

# 687 Antti Herlin 

$4.65B

Real Time Net Worth
as of 5/21/2024
-$35.9M (-0.77%)
OccupationChair, KONE
Source of WealthElevators, Escalators
Age67
ResidenceKirkkonummi, Finland
Marital StatusMarried
Children4
Age-Adjusted Net Worth$2.90B
Antti Herlin
Antti Herlin
Finland
Net worth: $4.65B

Self-Made Score 

Wealth History

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Biography

Overview

Antti Herlin is a Finnish billionaire businessman known as the chairman of KONE Corporation, the world's third-largest maker of elevators and escalators.
He became wealthy through his family's long-standing control of Kone, initially established in 1924 by his great-grandfather, Harald Herlin.
During his tenure as CEO from 1996 to 2006, Herlin expanded Kone's operations through strategic acquisitions and alliances, solidifying its global presence.
Aside from Kone, Herlin also holds shares in Finnish media firm Sanoma, and he's actively involved in agricultural activities, owning a farm where he raises Hereford and Aberdeen Angus beef cattle.
His children, Jussi and Iiris, are also involved in Kone's leadership, with Jussi serving as vice chairman and Iiris on the board of directors.

Early Life and Family Business

Antti Herlin was born on November 14, 1956, into the prominent Herlin family, which has been associated with Kone Corporation since its inception.
His father, Pekka Herlin, served as the chairman of Kone and played a pivotal role in its development.
The Herlin family has maintained control of Kone since 1924, with successive generations taking up leadership positions within the company.
Herlin's great-grandfather, Harald Herlin, purchased Kone in 1924, laying the foundation for the family's enduring involvement in the elevator engineering business.
Growing up in this environment, Antti Herlin was exposed to the intricacies of corporate leadership and business management from an early age.

Career at Kone Corporation

Antti Herlin assumed the role of CEO at Kone Corporation in 1996, succeeding his father, Pekka Herlin, as the head of the company.
During his tenure as CEO, which lasted until 2006, Herlin oversaw significant expansions and strategic moves that solidified Kone's position as a global leader in the elevator and escalator industry.
Under his leadership, Kone expanded its operations through strategic acquisitions and alliances, enhancing its presence in key markets worldwide.
Herlin's innovative approach to technology and business strategy led to the introduction of groundbreaking elevator technologies, such as the Kone EcoDisc hoisting machine and the Kone MonoSpace elevator technology concept.
He played a crucial role in steering Kone towards sustainable and environmentally friendly practices, including the adoption of machine-room-less (MRL) elevator designs.
In 2003, following the passing of his father, Pekka Herlin, Antti Herlin assumed the position of chairman of the board at Kone Corporation, further solidifying his influence over the company's strategic direction.

Other Ventures and Investments

Apart from his involvement with Kone Corporation, Antti Herlin holds shares in Sanoma Oyj, a Finnish media company, where he serves as the chairman since 2013.
The Herlin family has also made significant investments in other sectors, including construction companies like YIT and Lemminkäinen.
Herlin's interest in agriculture is evidenced by his ownership of a farm in Kirkkonummi, where he focuses on raising Hereford and Aberdeen Angus beef cattle.
In 2012, Herlin received agricultural support from the Finnish state, reflecting his active engagement in agricultural activities beyond his business ventures.

Legal and Publicity Issues

In 2001-2002, Antti Herlin faced investigations regarding potential insider trading involving Kone and Partek stock investments.
However, the investigations found Herlin innocent of any wrongdoing.
Herlin initiated his own investigation into the disclosure of the case to the media in 2005, though no conclusive evidence was found regarding the source of the leak.
Despite facing legal scrutiny, Herlin's reputation remained intact, and he continued to lead Kone Corporation and other ventures successfully.
These legal challenges underscored the complexities and scrutiny faced by high-profile business figures like Antti Herlin.

How long would it take you to become as rich as Antti Herlin?

If you started with $10,000 and invested an additional $500 each month at a 44.10% CAGR, it would take you 5 years to reach Antti Herlin's net worth of $4.65B.

Is this realistic? It depends how closely the VIX-TA-Macro Advanced model performs to its history in the future. Since Grizzly Bulls launched on January 1, 2022, it's returned 42.76% compared to 11.89% for the S&P 500 benchmark.

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Antti Herlin is very wealthy, but what's stopping you from reaching that same level of success? As summarized in our five fundamental rules to wealth building, becoming wealthy in a modern capitalist economy is not complicated. There's actually only three variables:

  1. Your starting capital
  2. Your earnings after expenses
  3. The compound annual growth rate (CAGR) of your savings

Most people start with zero or very little, so if you weren't born into wealth, don't fret! The majority of the fortunate folks listed in our Grizzly Bulls’ Billionaires Index came from middle class or lower backgrounds. The most distinguishing characteristic of the group is their ability to consistently earn a high CAGR on their savings.

Every billionaire has a unique strategy to achieve high CAGR. For Antti Herlin, Elevators and Escalators are the primary sources. Whether you choose to invest your savings in your own businesses or the businesses of others is not as important. The salient piece of the puzzle is ensuring that your hard-earned savings are generating sufficient CAGR to reach your long term goals.

Most people simply invest their money in index funds and call it a day. There's nothing wrong with this approach, but it guarantees relative mediocrity. To achieve greatness, you need to invest your money to earn higher than average returns. In the long run, better investors will always finish ahead of better earners.

Source: Grizzly Bulls reporting

Methodology: Grizzly Bulls' Billionaires Index is a daily ranking of the world's billionaires and richest people. Grizzly Bulls strives to provide the most accurate net worth calculations available. We pull data from public equity markets, SEC filings, public real estate records, and other reputable sources.

The index is dynamic and updates daily at the close of U.S. stock market trading based on changes in the markets, economy, and updates to Grizzly Bulls' proprietary algorithm of personal wealth calculation. Stakes in public companies are tracked daily based on the relevant closing prices of the underlying securities. Additionally, stakes in private companies, cash, real estate, and other less easily valued assets are updated periodically through careful analysis of insider transactions, comparable public company sales / EBITDA multiples, etc.

Edited by: Lee Bailey