He has a wife named Svanhvít Tryggvadóttir. They were married in 2005 by Hilmar Örn Hilmarsson, the allsherjargoði of Ásatrúarfélagið. Georg's father, Haukur, is a news reporter on a local TV station, Stöð 2 (Channel 2). He is the only member of Sigur Rós without a patronymic name: the majority of Icelanders have a patronym rather than surname. The song "Salka", a former live only song, released on Hvarf/Heim in 2007, is named after his stepdaughter.
Georg has two brothers; one of them is a guitarist in For a Minor Reflection, Kjartan Dagur Hólm (1989).
He and Jónsi are the remaining founding members of Sigur Rós. He sometimes plays using a cello bow. As do other members of Sigur Rós, he plays multiple instruments during a typical live show. This often includes, in addition to electric and acoustic bass guitars, keyboards, glockenspiel, and drums.

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