Sundqvist was born in 1950 in
Offerdal in
Krokom Municipality in Sweden. He began his business career by developing his father's bus company and finally selling it in 1979 to the
municipality of Östersund for 8.7 million
Swedish kronor. He used the proceeds to found his personal investment company
Skrindan, which grew aggressively to become a big player in real estate. Due to declining stock prices during the
Great Recession, Sundqvist was forced to sell large blocks of shares to refinance loans. Sundqvist had more than a billion in debts at the
Carnegie Investment Bank, and was a contributing factor that the bank lost its banking license and was taken over by the
Swedish National Debt Office. As Sundqvist was forced to sell most of his shares, he suffered huge losses. ==Death==