BLOOMGBERG BILLIONAIRE #8: INGVAR KAMPRAD
Post | April 2015
May 2015--Sweden's richest man controls Ikea, the world's largest furniture retailer, through a series of trusts and foundations. The Almhult, Sweden-based company had more than 29.3 billion euros ($33.2 billion) of revenue in the year ended Aug. 31, 2014. Closely held Ikea Group had 147,000 employees and 716 million visitors to its 315 stores worldwide in 2014.
In September 2012, Kamprad gave his sons operational responsibility for Ikea and, in June 2013, named his youngest son, Mathias, chairman of Inter Ikea. That same month, after 40 years of tax exile in Switzerland, he announced he was moving back to Sweden. He regards taxation as a cost that should be minimized.