"Gustaf's success as one of Sweden's great global industrial builders of all time is indisputable. His work now lives on in all the companies he has helped to build, not least through the long-term sustainable corporate culture that lives on in all of Latour's companies," Latour writes on its website.
Latour is a partner in Assa Abloy, Securitas and Sweco, among others.
According to Affärsvärlden's review of Sweden's richest, published in April this year, Gustaf Douglas ended up in ninth place.
Before his career as an entrepreneur, he worked in the media industry and was, among other things, chairman of Dagens Nyheter AB during the years 1973 to 1980.
Douglas has also been involved politically and has been a member of the Moderate Party's executive committee.
He lived to be 85 years old.