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Ikea family feud erupts over flat-pack fortune

Ikea family feud erupts over flat-pack fortune

Published: 19 Sep 2013 09:12 GMT+02:00
Updated: 19 Sep 2013 09:12 GMT+02:00

The book, 'Ikea Moving to the Future' (Ikea på väg mot framtiden), claims that Ikea founder Ingvar Kamprad and his sons are at loggerheads over a large portion of the family's fortune, reported the Dagens Industri (DI) newspaper.

The three sons hired a star lawyer from the US to take on their 87-year-old father, who has a fortune of $3.2 billion, Forbes estimated in March.

The new book, which is has yet to be published, was penned by Lennart Dahlgren, the former head of Ikea in Russia, and researchers Stellan Björk and Karl von Schulzenheim.

The authors claim that the financial dispute can be traced back to 1982, when Kamprad registered Ikea in the Netherlands with the Dutch Stiching Ingka Foundation, but he kept the immaterial rights to the brand, which provided him a turnover-based compensation.

Kamprad's move only afforded him a tiny fraction of the proceeds from the company, but over the next 30 years, the sum increased to 20-30 billion kronor ($3.14 billion to $4.71 billion), the authors reckoned.

Legally, the funds belonged to the sons according to the book, something that led to a long fight within the family, which ended up with Kamprad senior falling ill.

No members of the family have commented as yet.

TT/The Local/og

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