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—
Antti Herlin
is the richest person in
Finland
.His wealth comes from
Kone
, the world’s largest elevator and escalator manufacturer.
Kone is estimated to control 18-20 percent of the global elevator and escalator industry market share, competing at the top with Otis Worldwide (United States), Schindler Group (Switzerland), TK Elevator (Germany) and Mitsubishi Electric (Japan).
Kone’s success also increased Herlin’s wealth from his share ownership in the company.He directly controls 23.4 percent of Kone shares.
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Herlin’s assets are estimated to reach US$4.2 billion or the equivalent of 69.9 trillion (assuming an exchange rate of Rp. 16,647 per US dollar).He is also at the top of the list of Finland’s richest people thanks to this.
Elevators and escalators made by Kone are almost available throughout the country.Famous or iconic projects that use Kone products include:
– The Shard (England) is the tallest skyscraper in London at 310 meters high
– Makkah Clock Royal Tower Hotel (Saudi Arabia)
– Capital City Tower (Russia) a complex of two towers 302 meters high, with 73 floors and 62 floors respectively
– Doha Tower (Qatar) 238 meters
– Royal London Hospital (England)
– Princess Tower (United Arab Emirates) 414 meters
– Shanghai Hongqiao International Airport (China)
– Marina Bay Sands (Singapore) 55-story premium resort
In Indonesia, several buildings that use Kone services are District 8 (SCBD, Jakarta) and Sopodel Office Tower (SCBD, Jakarta).
The various lists show the breadth of Kone’s portfolio, ranging from skyscrapers, offices, premium residences, public facilities, airports to hospitals.Kone’s involvement in iconic global projects solidifies its position as one of the leaders in the elevator and escalator industry.
Kone’s crucial advantage is not only in product innovation, but includes service networks, modernization portfolios, unit connectivity (IoT/connected units), and regional penetration, especially Asia.
Born with the name Antti Juhani Herlin on November 14 1956 in Kirkkonummi, Finland.You could say, he is old money who grew up in an elite family.
His father, Pekka Herlin, was chairman of Kone before the position was ‘passed on’ to him.His great-grandfather invested in Kone in 1924.
Herlin is a graduate of the National Technical University of Athens and Iowa State University.He joined Kone in the early 1990s, when the company was entering a phase of intense competition and industrial transformation.
Six years later, he was appointed CEO of Kone.At that time, he was not even 40 years old, a big opportunity and risk for Kone, who was competing closely with two rivals, Otis and Schindler.
At that time, Herlin carried out a bold restructuring.He modernized production, streamlined the supply chain and expanded aggressively outside Europe.The target is the Asian market.
The move paid off.Kone, which is based on a family business, has become a big name in the global market.Kone’s success helped catapult Herlin’s name as the most influential tycoon in the Nordics.
Like other family businesses and characterized by conflicts over inheritance, Herlin also experienced this.When his father died in 2003, he rose to the position of chairman of the board of commissioners.However, the top position came with a big storm within the family.
The division of each child’s share ownership in Kone is a matter of his three siblings, Ilkka, Ilona and Niklas.The root of the problem was that his father gave control of the majority of the shares to Herlin, long before he died and without the other three children knowing.
This inheritance dispute has been protracted and has become a widespread topic in Finland.The dispute subsides when the four reach a compromise to ‘split’ Kone.
The three Herlin brothers gained control of Cargotec, while Antti retained control of Kone.Cargotec is a subsidiary of Kone in the field of freight and cargo handling.Based on the agreement, this Kone subsidiary was demerged from Kone.
Herlin’s figure is far from the hustle and bustle of the media spotlight.He is the classic image of a Northern European tycoon: quiet, technical, not flamboyant, but very influential.
He is married to Tiina and has three children.His son, Jussi Herlin, is now vice chairman of Kone.
When not chairing board meetings in Kone, Herlin is usually at his farm in Kirkkonummi.He breeds Hereford and Aberdeen Angus cattle.
He and his wife also founded the Tiina and Antti Herlin Foundation.The foundation focuses on education, the arts and environmental issues.
Even though he is not the founder, Herlin is the custodian of the family company.He didn’t build a business empire from scratch, but he kept the legacy from collapsing, fighting and building an ‘elevator’ for Kone to be in a higher position than when his father and great-grandfather led him.
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