After a successful career within the steel conglomerate Sandvik AB, he transitioned into the financial industry - leveraging and acquiring real estate, stocks, and art.
Björkegren worked as an accountant at Sandvikens Jernverks AB in 1953, became an intendant in 1958, and assumed the position of chief financial officer in 1961.
[6] Along with his director colleague Lars Forsberg, they had purchased 30,000 shares in Sandvik without informing the Securities Register Centre.
[3] He later became the largest shareholder in Gränges [sv; fr; fi] and acquired the majority of the real estate management company Storstaden.
Björkegren had what was described as Sweden's finest private art collection, featuring works by Picasso, Miró, Chagall and Grünewald, among others.
In 1987, Björkegren was named Private Economist of the Year and stated, "I buy art with my own money, I do business with borrowed funds.
[6] As a financier and one of Sweden's wealthiest individuals, Björkegren invested extensively in real estate, stocks, and art.
At the height of his success, he was believed to be worth 2.5 billion kronor, although much of it eventually turned out to be illusory, meaning debts without guarantee.
[7] In the early 1990s, his empire crumbled due to the prevailing real estate and banking crisis, which led to a sharp decline in property and stock prices.
When Björkegren was forced to default on his payments, all artworks were pledged as collateral, and a significant portion of the collection was sold.
[9] Björkegren had, to a large extent, heavily leveraged his assets and simultaneously provided personal guarantees for his companies.
[6] Despite losing his entire fortune and the Swedish Enforcement Authority seizing the 50,000 kronor that Sandvik AB paid him in pension every month, Björkegren continued to live well.
[14] On 2 June 1994, Björkegren disappeared without a trace from his residence in Viken, south of Höganäs in Scania, just hours before he was supposed to board a plane to Stockholm, where his lawyer Henning Sjöström and his daughter Eva were waiting for him in a pre-booked room at the Grand Hôtel.
For instance, there were tips that he was shopping at Nordiska Kompaniet in Stockholm, staying in hotels in Oman, visiting banks in Switzerland, and residing in the brother's house of the prima donna Git Gay in Paraguay.
Two loose ends, which the police couldn't confirm, are that the butler had allegedly lent the keys to the villa and later, when settling a debt, had paid with a Rolex watch and a very valuable painting from Björkegren's private collection.