Martin Carlesund

Carlesund was born in 1970 in Sweden. His background is highly multidisciplinary: he holds a Master of Science (MSc) in Finance and studied computer science, law, and mathematics. Analysts estimate his net worth at around $68 million as of mid-2025, largely tied to his significant stock holdings in Evolution AB (EVO.ST). His total compensation for 2024 was €4.6 million.

Diverse Education and Early Career

Carlesund’s strategic approach stems from a blend of technical expertise and business management, rooted in his Swedish upbringing and academic choices.

Academic Background

Carlesund’s formal education spanned multiple prestigious Swedish institutions. He earned his MSc in Finance while also completing courses in computer science, law, and mathematics at the University of Borås, Gothenburg School of Economics, and Linköping University. This versatile education prepared him to bridge the gap between technology, finance, and regulation.

Early Professional Experience

He was exposed to business early on, frequently attending sales meetings for his family’s sewing enterprise in his medium-sized Swedish hometown. This entrepreneurial environment fueled his ambition to run a company. Consequently, he started his career as a developer and programmer at Swedish telecommunications giant Ericsson.

Before joining Evolution, Carlesund served as CEO for several other companies:

• 3L System AB: A technology firm.
• Eniro Sverige and Eniro Finland: Digital search and media services.
• Highlight Media Group: A major online media and gaming affiliate company.

Evolution: From Live Niche to Global Giant

Carlesund joined Evolution in 2015 and quickly became the leader who charted its path to market dominance.

Rise to Group CEO

Carlesund initially joined the company in June 2015 as the CEO of Evolution Malta, the primary operational hub. Just over a year later, in November 2016, he was promoted to Group CEO, succeeding founder Jens von Bahr.

Key Acquisitions and Growth

Under Carlesund’s leadership, Evolution focused on aggressive growth through strategic acquisitions and product innovation. This strategy moved the company beyond solely live casino products:

• NetEnt (2020): A massive acquisition that added online slots and Random Number Generator (RNG) games to Evolution’s portfolio.
• Big Time Gaming (2021): The creator of the popular “Megaways” mechanic, which further boosted Evolution’s slot content.

This diversification resulted in massive financial success. Evolution reported revenues of €1.798 billion in 2023 and Q1 2025 revenues of €520.9 million, cementing its position as the industry’s largest B2B supplier. Carlesund’s strategy also includes aggressive expansion into regulated markets worldwide, especially the United States.

Financial Success and Private Life

Carlesund’s wealth is directly linked to the success of Evolution’s stock, which has seen explosive growth since 2016. In June 2025, he demonstrated his confidence by purchasing SEK 67 million worth of company stock.

Despite his high-profile executive role, Carlesund maintains a private personal life. Few public details exist regarding his family or interests outside of his professional focus on business strategy and technology.

He emphasizes humility and ethical practice, although his tenure has involved managing staff strikes and navigating complex regulatory hurdles. He is the chairman of two other investment and holding companies, Carlesund Investments & Consulting AB and Sandstjärna Holding.