• Sweden edition
 
Ikea owner richest in Europe: report

Ikea owner richest in Europe: report

Published: 06 Mar 2012 07:51 GMT+01:00
Updated: 06 Mar 2012 07:51 GMT+01:00

Ikea founder Ingvar Kamprad was ranked as Europe’s wealthiest man in the Bloomberg Billionaires Index on Monday, and the fifth richest man in the world.

“Ingvar Kamprad is not interested in money and that is clear from the way he has structured the ownership of Ikea,” said Per Heggenes, of Stichting INGKA Foundation, a foundation that owns 90 percent of Ikea shares, to news network Bloomberg.

The Bloomberg Billionaires Index is a new daily ranking of the world’s richest people by the financial news corporation, and keeps tabs on the top 20, a list in which Kamprad is allegedly a reluctant member.

Kamprad refused to comment on the ranking, in which Bloomberg ranks Kamprad’s fortune as $40 billion.

According to the report, Ikea earned a net profit of $4 billion last year and a gross profit of $15 billion on $34 billion in sales.

Kamprad left Sweden in 1970 in order to keep the company private, as Swedish tax laws wouldn’t allow this at the time.

Bloomberg’s new index provides updated information accounting for the latest movements in the stock market. The list provides information and a transparent analysis of how each billionaire’s fortune was calculated.

Other billionaire heavyweights in the ranking include Carlos Slim (who topped the list at $68.5 billion), Bill Gates and Warren Buffet.

Mark Zuckerberg of Facebook notoriety did not make the list, despite a fortune estimated at $21 billion.

Oliver Gee (oliver.gee@thelocal.se)

Don't miss...X
Left Right

Your comments about this article

19:51 March 6, 2012 by spo10
good for him! but not good for Sweden because he's not paying any tax here...
21:15 March 6, 2012 by philster61
spo10.

Imagine the uproar he would kick up if he did.....
22:42 March 6, 2012 by weballergy
I wonder what this people are waiting to help others with such a quantity of money, if they really say they don't care about money (like Bill Gates does and in fact, he help others). This amount of gold, shouldn't be in the hand of only one man. But they might have some "complications" that the mortals we cannot see, for example what Ferrari should buy this time.
08:33 March 7, 2012 by skogsbo
weball, you might like to know that he does spend it, locally. He gave 1 Billion kr to local causes in his home county(Smaland) this Xmas.

His staff employment and pension schemes are also very good, as are many other company benefits.

The differene is Ikea profit is managed by him and a trust, it doesn't go to shareholders, smart move, you retain control of your business decisions then.
10:25 March 7, 2012 by CJ from Sunshine Desserts
At some point in your life you have to come to the logical conclusion that everything you have ever bought from IKEA is crap. As far as his tax avoidance is concerned he´s surely not doing anything illegal, but as far as I`m concerned its an act of treason. My revenge on him is simply never to enter an IKEA store ever again.
14:28 March 7, 2012 by BritVik
CJ from Sunshine Desserts

. . . . . . My revenge on him is simply never to enter an IKEA store ever again.

Well, there are millions of others willing to buy from IKEA, so it is doubtful whether you will be missed, and since it is rubbish as you say, makes you wonder why IKEA is so popular worldwide, doesn't it?
22:28 March 8, 2012 by weballergy
Yes, it's popular because it's products are cheap and has a good balance between quality and price. Not all of them, but it's true.

Furniture stores are usually a rip-off and only if you have a high income (or nothing better where to spend your money on) may afford to buy any "real" furniture.

And it's also a matter if you're interested in renew your stuff quite often. If you prefer to "modernize" your living-room for example, Ikea seems to be a good choice, and you won't have to use the same furniture you bought in the 80's at a price of a liver.
Today's headlines
Florida 'mystery knight' dies in Sweden
Michael Boatwright (R) and Medieval knight re-enactors.

Florida 'mystery knight' dies in Sweden

The "motel mystery" American who baffled US authorities by only speaking Swedish when he woke up from a coma last year has passed away, Swedish media reported on Wednesday. READ () »

Swedes open coffin of 850-year-old king
Photo: Bertil Ericson/TT

Swedes open coffin of 850-year-old king

UPDATED: Scientists pried open the 850-year-old casket of King Erik the Holy on Wednesday, hoping to find out more about the king, his crown, and his eating habits. READ () »

TeliaSonera announces first-quarter profit drop
TeliaSonera CEO Johan Dennelind. File photo: TT

TeliaSonera announces first-quarter profit drop

Stockholm-listed telecom operator TeliaSonera on Wednesday said profits had fallen in the first quarter, but hoped offering customers more data solutions in the future would turn things around. READ () »

'Imperfect EU better than revolting nationalism'
Fredrik Reinfeldt. File photo: TT

'Imperfect EU better than revolting nationalism'

Swedish Prime Minister Fredrik Reinfeldt on Wednesday urged young voters to head to the European parliamentary polls on May 25th "to cure the European disease of nationalism". READ () »

Ericsson quarterly profit defies sluggish sales
Ericsson CEO Hans Vestberg at the first quarter press conference. Photo: TT

Ericsson quarterly profit defies sluggish sales

Swedish telecom giant Ericsson on Wednesday announced a drop in sales but posted a sharp rise in first-quarter profit, which nonetheless fell shy of analyst predictions. READ () »

Fatal Norrköping brawl
Four brothers held as cops fear brawl reprisals
Photo: Johan Nilsson/TT

Four brothers held as cops fear brawl reprisals

Swedish police fear that several people involved in a brawl in eastern Sweden on Monday night may be seeking revenge after two brothers were shot dead. READ () »

Sponsored Article
Beautiful pearls of southeast Sweden
The town of Västervik.

Beautiful pearls of southeast Sweden

Ask a Swede, and they are likely to say that their favourite holiday spot is in the southeast of Sweden. Eastern Småland and Öland offer a smörgåsbord of all the things dearest to the Swedes - from the beloved children's book author Astrid Lindgren to deep forests, long sandy beaches, perfect spots for that all-important 'fika', and a surprising amount of space, peace and quiet. READ () »

Weekend weather to bring summer warmth
Swedes enjoy hot dogs and cherry blossoms in Stockholm's Kungsträdgården. Photo: Jessica Gow/TT

Weekend weather to bring summer warmth

The sun is set to stick around and temperatures could climb into the twenties over the weekend, Swedish meteorologists said on Wednesday READ () »

'Day-care rapist' admits molesting eight kids

'Day-care rapist' admits molesting eight kids

A 21-year-old man confessed on Wednesday to sex crimes against eight children at a day care where he was working as an intern. READ () »

Swedish cops nab man for having big muscles
An unrelated bodybuilder. File photo: Ann Törnkvist

Swedish cops nab man for having big muscles

Police in Sweden's south who hauled a muscular man in for steroid testing have had their knuckles rapped, after it was ruled that big biceps cannot be grounds for narcotics suspicions. READ () »

RECEIVE OUR NEWSLETTER AND ALERTS
Features
Sponsored: South-eastern Sweden offers Öland beaches and more
Gallery
Swedish underwear shop puts staff in front of the camera
Gallery
IN PICTURES: The Local's Property of the Week - Täby
Sponsored: India+Sweden Week - India Unlimited
Features
Sponsored: India+Sweden Week - A film, food, and finance feast
National
University applications rocket to record high
finest.se
Gallery
People-watching April 18-20
TT
Society
Kids in Victorian garb mark Swedish Easter
Shutterstock
National
Swedish MP ordered chemtrail probe
Society
Swedish supermarket Ica pulls contested Easter commercial off air
Kungahuset
Society
Swedish royals set baptism date for princess
finest.se
Gallery
People-watching April 16
Politics
Who's the prime minister's heir?
Advertisement:
Alfie Atkins
Society
Are children's books the key to families integrating in Sweden?
National
'Sweden Dem protests cater to party's martyr image'
National
'Swedish research grants were fantastic, but now it's like Australia'
Society
Only in Sweden: The ten problems you'd never encounter elsewhere
National
Swedes stopped to take my picture, but didn't look me in the eyes
Business & Money
A swipe of the hand replaced cash and cards in Lund
YouTube
Features
Video: Oliver Gee finds out how to embrace The Swedish Hug
TT
National
Abba duo hints at reunion
Private
National
Flash mobs hug it out across Sweden
Finest.se
Gallery
People-watching April 11-13
TT
Politics
Swedes to give six-hour workday a go
Stockholm School of Economics
Sponsored Article
Why a bachelor's degree is no longer enough
Latest news from The Local in Switzerland

More news from Switzerland at thelocal.ch

Latest news from The Local in Germany

More news from Germany at thelocal.de

Latest news from The Local in Spain

More news from Spain at thelocal.es

Latest news from The Local in France

More news from France at thelocal.fr

Latest news from The Local in Italy

More news from Italy at thelocal.it

Latest news from The Local in Norway

More news from Norway at thelocal.no

Blog Update: The Diplomatic Dispatch

28 October 15:16

The Green Growth Group Summit »

"Today on the 28 October in Brussels, a large group of key EU Ministers and business people, including UK Secretary of State for Energy and Climate Change Edward Davey, and Swedish Environment Minister Lena Ek, will meet to discuss green growth. They all have a stake in resolving a challenge which, although it is crucial..." READ »

712
jobs available
Swedish Down Town Consulting & Productions
Swedish Down Town Consulting & Productions is an innovative business company which provides valuable assistance with the Swedish Authorities, Swedish language practice and general communications. Call 073-100 47 81 or visit:
www.swedishdowntown.com