Ingvar Kamprad to move home to Sweden
After forty years living outside the country, Ikea's founder Ingvar Kamprad is moving home to Sweden, reports the newspaper Sydsvenskan. Kamprad's return means the 87-year-old founder of the world’s largest furniture company and the fifth richest man in the world, according to the Bloomberg index, will pay taxes in Sweden.
"He will pay tax on his earning, just like all other Swedes. But the move home has no other tax-related consequences," says Kamprad's press spokesperson, Per Heggenes.
Kamprad plans to move at the end of 2013, to a farm outside of Älmhult in the south of the country.
His son, Mathias Kamprad, recently took over the chairmanship of Ikea's power company, Inter Ikea Group. Ingvar Kamprad described that move as a generational shift in the company, but he reportedly still has a great deal of power within the company.