• Switzerland's news in English

Swiss-based Ikea tycoon plans Swedish return

Malcolm Curtis/The Local/AFP · 26 Jun 2013, 21:01

Published: 26 Jun 2013 21:01 GMT+02:00

Facebook Twitter Google+ reddit

“I am returning to live in Sweden to be closer to my family and my old friends,” Kamprad, 87, said in a statement published in the Swedish regional daily Sydsvenskan on Wednesday.

“Since my dear wife Margareta died about a year and a half ago, there are fewer and fewer things to keep me in Switzerland,” he said.

A spokeswoman for Ikea, Joesefine Thorell, confirmed to AFP that Kamprad planned to “spend the rest of his life in Sweden”.

Judged the wealthiest resident of Switzerland and one of the richest people in the world, Kamprad moved in the 1970s to Switzerland, where taxes are considerably lower than in his native country.

The Bloomberg index of the world wealthiest put Kamprad in fifth place last year.

His fortune was estimated by Swiss magazine Bilan at between 38 and 39 billion francs.  

However, to all outward appearances he lives modestly in a villa in Epalinges, a community north of Lausanne in the canton of Vaud.

Another Ikea official suggested he will face higher taxes in his homeland.

"Ingvar will pay tax on his income, just like everyone else in Sweden," Kamprad’s spokesperson Per Heggenes told the Sydsvenskan newspaper.

"But the move has no other tax consequences."

Kamprad, who founded Ikea in 1943 as a teenager, is planning to move to his homeland before the end of the year.

Story continues below…

Per Heggenes, head of the Ikea foundation, told Sydsvenskan that the entrepreneur will be returning to the place where he started the store that has become a global phenomenon, the town of Älmhult, in southern Sweden.

His youngest son, Mathias Kamprad, recently took over as chairman of mother company Inter Ikea Group.

Malcolm Curtis/The Local/AFP (news@thelocal.ch)

Facebook Twitter Google+ reddit

Your comments about this article

Today's headlines
Presented by MoneyPark
How to get a mortgage in Switzerland
Houses in Zürich. Photo: Pixabay.

Ready to buy? Here’s what you need to know as an expat about Swiss regulations, how to finance your purchase, and why you should use a broker.

Autumn in Switzerland: ten stunning Instagram photos
Photo: Swiss Tourism/Jan Geerk

Switzerland is beautiful in all seasons, but as these photos show, autumn is a special time in the alpine country.

Report: Swiss progress slows on gender equality
File photo: David Soulivet

Globally, it will take 170 years to achieve gender equality, according to the World Economic Forum.

Brothers go to court to stop suicide of sibling
File photo: Lisa Edmonds

Two men have filed a legal bid to prevent the Swiss assisted suicide association Exit from helping their older brother to kill himself.

Wawrinka snubs past form to reach Basel second round
Wawrinka beat local wildcard Marco Chiudinelli. Photo: Fabrice Coffrini/AFP

US Open champion Stan Wawrinka has reached the second round in Basel after going out in the first round for the past four years.

Villagers asked to help fund bridge renovations
The bridge links the two villages of Veltheim (pictured) and Holderbank. Photo: Lutz Fischer-Lamprecht

The crowdfunding campaign by the two communes is the first of its kind in Switzerland.

Police discover body buried in Orbe house
File photo: Bas Leenders

Police have opened an investigation after finding a body buried in a house in Orbe, in the canton of Vaud, on Saturday.

Valais shaken by 4.2 magnitude earthquake
The earthquake hit in the canton of Valais near Sierre. Photo: Alain Rouiller

It's the biggest earthquake to hit the country for two years.

Swiss Indoors kicks off without champ Federer
Federer celebrates with ball girls and boys after winning the event in 2015. Photo: Harold Cunningham/Pool/AFP

Stan Wawrinka is top seed as injured Federer sits it out.

IOC hires Russian doping whistleblower as consultant
IOC President Thomas Bach confirmed the news. File photo: Fabrice Coffrini/AFP

The International Olympic Committee (IOC) has hired Vitaly Stepanov as a consultant and is helping his runner wife Yuliya.

Photo: Unterirdisch Ueberleben
Inside Switzerland’s largest nuclear bunker – 40 years on
Sponsored Article
Last chance to vote absentee in the US elections
Photo: The Local
Ticino firefighters rescue cow from swimming pool
Photo: Antoni Da Campo
Vegan wins battle to be accepted by Swiss army
Photo: Swiss Tourism
Ten Swiss ski resorts named most expensive in Europe
Photo: Randy Kashka
Swiss women will ‘work for free’ for the rest of year
Photo: Swiss Tourism
Montreux throws hat in Olympic rings
Photo: Swiss Tourism
Seven things you’ll miss about Switzerland if you leave
Photo: Richard Juilliard/AFP
Man makes Geneva airport bomb threat ‘for a joke’
Photo: AFP
Solar Impulse team reveals plans for unmanned plane
File photo: Martin Abegglen
Swiss to vote on passport rules for 3rd gen foreigners
Photo: AFP
Swiss wingsuit hotspot Lauterbrunnen won’t impose ban
Photo: Swiss Tourism
Six reasons Switzerland isn’t as boring as you might think
Photo: Swiss Tourism
Report: Switzerland one of world’s best places for girls
Photo: The Local
Thief returns Swiss cow bells worth thousands
File photo: Wikimedia Commons
One in three rapists isn’t locked up: statistics
Photo: activistin.ch
Tampon-tax protest turns Zurich fountains red
Photo: AFP
Geneva police to lift ban on bearded officers
Photo: Marcel Gillieron/AFP
Suicide chef’s restaurant keeps Michelin stars
Photo: Lara de Salis
11 things the Swiss get tired of hearing abroad
Photo:  Ivo Scholz/Swiss-image.ch
Survey: expats in Switzerland have money but few friends
Photo: AFP
Swiss press criticize Bern’s 'capitulation' on immigration
Photo: Jura Trois Lacs tourism
German ex-policeman is Swiss city’s new hermit
Photo: Dmitry A. Mottl
Ticino votes to favour local workers over foreigners
jobs available