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The article treats the context and inner life large family firms. The dominant question posed is what characterizes the largest Swedish family firms, some of which fully meet the definition of family dynasties while others only partially do so. The goal is to create a deeper understanding of the owners" motives and behavior without, however, determining whether or not it is an effective form of ownership. The empirical comparison, based on a set of new concepts, includes problems associated with generational transfers and evolving public economic policy. One finding is that the first generations of the dynasties broke with the accepted institutional rules and industrial logic of the time. In opposition to, or in cooperation with, the controlling authorities, they changed market conditions, thereby creating opportunity space that allowed them to become established and to grow. In order to achieve these changes in market conditions, they had to function as lobbyists or created strong relationships with those possessing political power. Through their enterprises, they created new markets. Once the firms became large employers, and thus important for the country"s labor market, they also attracted the attention of politicians. Another finding is the preaching of value creating philosophies ? hobbyhorses with strategic content that disciplines and guides the employees of the dynasty and the ownership sphere"s companies.