Friday, January 27, 2012

Ingvar Kamprad

Ingvar Feodor Kamprad (born 30 March 1926) is a Swedish business magnate and the founder of IKEA, a retail company.

According to Forbes magazine, as of 2011 he is the 162nd wealthiest person in the world with an estimated net worth of around US$6 billion in 2011. According to Swedish business weekly Veckans Affärer, he is the wealthiest person in the world with an estimated wealth of between $50bn and $90bn, owning the IKEA franchise through Interogo Foundation and Stichting INGKA Foundation.

Early life
Ingvar Kamprad was born in Pjätteryd, now part of Älmhult Municipality, and grew up on a farm called Elmtaryd (now spelled Älmtaryd), near the small village of Agunnaryd in Ljungby Municipality in the province of Småland, Sweden.

He is a second generation Swede of German descent, his grandfather having moved the family to Sweden from Germany.

Late life
Kamprads second wife Margareta passed away from an undisclosed disease the 12th of December 2011.

Net Worth
According to Swedish business weekly Veckans Affärer, he is one of the wealthiest people in the world. This report is based on the assumption that Kamprad owns the entire company, an approach that both IKEA and the Kamprad family reject. Kamprad retains little ownership in the company, having transferred his interest to Stichting INGKA Foundation and INGKA Holding as part of a complex tax sheltering scheme that leaves his actual degree of control vague.

As of March 2007, Ingvar Kamprad was the fourth wealthiest person in the world, according to Forbes magazine, with an estimated net worth of US$33 billion. In March 2010, Forbes magazine estimated his fortune at US$23 billion, making him the 11th richest person in the world. Though, as of March 2011, Kamprad's net worth had declined substantially (down US$17 billion) to a final value of US$6 billion. He had fallen from 11th spot on Forbes to 162nd because his lawyers produced documents that prove the foundation he created, and heads, in Liechtenstein owns IKEA, and its bylaws bar him and his family from benefiting from its funds.

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