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Ikea owner richest in Europe: report

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Ikea owner richest in Europe: report
07:51 CET+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.

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