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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)

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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.
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