Sweden is imagined as the land of equality, modesty and Jantelagen – the unwritten rule that no one should think they are better than anyone else. But there has also been a fascination within Sweden with its billionaires, especially those who abide by these dominant cultural norms.

In the case of Ingvar Kamprad, the founder of furniture giant IKEA, Swedes appreciated that he drove an old car (a Volvo, of course), engaged with employees working on the floor in his stores, and every year personally handed out Christmas gifts. His (some would say strategic) display of ordinariness made people overlook the fact that Kamprad was one of the world’s richest people and had moved to Switzerland to avoid Sweden’s high taxes.

But things have changed. The Wall Street Journal has written about Sweden’s surprising “capitalist makeover” and the Financial Times has reported on the idea the country is “overflowing with billionaires”. And in 2024 The BBC broadcast a documentary podcast called Super-rich Swedes. There are good reasons for their interest.

We think we know Sweden – a peaceful nation grounded in social democracy, natural beauty, IKEA and Abba. But in 2026, is this still the real Sweden? Ahead of the country’s general election on September 13, The Conversation UK has teamed up with its Swedish partner universities for a series of articles examining why this small nation remains so fascinating.

While for a long time Sweden was a country with some of the world’s highest taxes,........

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