Hreidmar was born in 21 or 22 of the Fifth Age to the director of the Red Axe. His family was presumably rich, living in Keldagrim West, due to the large influence and wealth of the company. At some point, the dwarf inherited leadership of the Red Axe from his father and, under him, the company would expand massively. Hreidmar ruled with an iron fist, eliminating opposition whenever it arose. Many small companies were forced out of business by his actions, and many dwarves were left unemployed. However, many dwarves flocked to his service, feeling that his method of rule was superior to that of the other companies. Before long, he had gained a very significant following within the city, although his power was not so great that he could oppose the rest of the Consortium.