The man, who had been in critical condition since being taken to hospital following the shooting, died at 8.55am, according to the police.
“The Police Authority in Stockholm County regrets the loss, and expresses its deep respect for the family’s sorrow,” police wrote in a statement on their website.
The man’s death means the investigation into how police reacted during the heist shifts from one of causing bodily harm to one of causing another’s death.
“But the question of responsibility doesn’t change. The assessment will be made based on how the police perceived the situation,” prosecutor Kay Engfeldt told the TT news agency.
The 26-year-old was remanded in custody on Tuesday on suspicions of aggravated robbery in connection with his role in the theft.
A total of six people are suspected of involvement in the robbery, which targeted a jewellery store in central Södertälje, an hour south of Stockholm.
Mobile phone video footage of the incident shows armed men exiting the shopping mall while gunfire can be heard in the background.
Several of the robbers escaped from the scene in a Silver Audi, leaving the critically injured 26-year-old on the ground.
On Tuesday, it emerged that the weapon held by the 26-year-old was a fake. However, whether the other robbery suspects were carrying loaded weapons remains under investigation.
“The reports are conflicting, but there are reports that shots may have been filed inside the shop, and there is certain evidence supporting that,” said Engfeldt.
The fact that the 26-year-old was carrying a fake gun doesn’t affect the prosecutor’s judgment of how police reacted.
“A police officer also has the right to use force when facing the threat of force,” he said.
The 26-year-old’s attorney, Serpil Güngör, had previously appealed the remand order, citing her client’s condition, explaining it was clear that he wouldn’t be able to affect the investigation.
His brain is “totally destroyed in larges areas”, she wrote in the appeal.