In 1991, Jan Stenbeck bought a farm in Luxembourg from where he runs Kinnevik. Now the battle begins for a state license for an advertising-financed television channel in the Swedish terrestrial network. The main enemy is TV4, financed by the Stenbeck family's bitter rivals, the Wallenbergs. Business-wise, Jan is at his peak, but his leadership style is becoming increasingly despotic. He agrees to a live interview for Stina Dabrowski, which turns out to be fatal.

1986. After successfully challenging Televerket, Jan Stenbeck now takes on yet another Swedish state monopoly. He begins to set up the commercial television channel TV3, which will be broadcast from London but which Swedes with satellite dishes will be able to watch. Merrill comes to Stockholm on New Year's Day 1987 to celebrate the premiere of TV3. A new era begins, while Jan and Merrill's marriage is put to the test.

1983. Jan Stenbeck's sisters have been granted the right by a court order to sell their shares in Kinnevik to whomever they wish. This threatens Jan's control of the company and he and his advisors desperately search for a solution. The battle between the Stenbeck siblings is now fought out in public. At the same time, Jan's health is deteriorating, which worries his wife Merrill. Another personal tragedy occurs.

It is 1980 and Jan Stenbeck wants to take the family business in a new direction. He tries to realize his vision of mobile telephony in Sweden and ends up on a collision course with his sisters, especially the older Margaretha who protects the company's traditional industries of forestry and steel. He challenges the Televerket monopoly and at the same time has plans to close the family business's steel mill in Fagersta. The enemies are increasing.

The year is 1975 and a young Jan Stenbeck is living life in New York. He works at the bank Morgan Stanley, has a business idea around mobile telephony and is newly in love. But a death in the family forces Jan to ask himself whether he should stay in the US or return to Sweden to lead the family company Kinnevik.