Kreuger, Ivar

Kreuger, Ivar (1880-1932), Swedish industrialist and financier, born in Kalmar. In 1908 he organized the construction firm of Kreuger & Toll. The firm acquired interests in the Swedish match industry and expanded steadily; in 1917 Kreuger organized the Swedish Match Company as a holding company for the numerous match factories and allied enterprises under his control. He proceeded to establish an international match monopoly. Kreuger was considered a financial genius, and people all over the world invested in his enterprises. The Great Depression caused financial difficulties for Kreuger's huge empire. He resorted to speculation and fraudulent practices to remain solvent, but by 1932 bankruptcy was imminent and he committed suicide.