In 1930 the “Match King”  Ivar Kreuger controlled 60% of the world's match production. This palace was commissioned by him as the headquarters of his empire - Swedish Match (Svenska Tändsticks AB). He didn’t live long enough to enjoy it though, as he committed suicide (or was murdered, according to some sources) in 1932.

The palace served as Swedish Match's office until the 1990s, then was sold to Telia, who subsequently sold it to a Saudi businessman Muhammed Al-Amoundi for SEK 450 million.