Holmgren was born in Minneapolis, Minnesota on May 1, 2002. He stayed local to the Minneapolis area growing up, and started attending Minnehaha Academy in Minneapolis in the sixth grade. Holmgren went to high school and eventually college with Magic guard Jalen Suggs. When he was a freshman in high school, Holmgren was already 6-9.

All eyes will be on Chet Holmgren. As the Oklahoma City Thunder travel to face the Minnesota Timberwolves for Games 3 and 4 of the Western Conference Finals, the seven-footer's homecoming is an underrated storyline that has reached the surface with the series changing locations.

After winning the 2024-25 MVP award, Thunder All-Star Shai Gilgeous-Alexander gave his teammates gift bags worth $10,000, including Chet Holmgren. Then, during his postgame media availability following Thursday's 15-point win, a reporter asked Holmgren what seeing Gilgeous-Alexander win MVP meant to him.