IKEA has furnished its founder, Ingvar Kamprad, with a bigger fortune than expected, company documents reveal. Bloomberg's Billionaires Index added $1.4 billion to his worth for a total of $39 billion.
The 86-year-old furniture magnate probably couldn't count all his money in the time it takes customers to find the Allen wrench amid the wood screws. But we already knew that.
The revelation arrived in a recent Bloomberg story about Inter IKEA Group opening its books, normally kept under wraps by the secretive company. The financial dish showed a complicated ownership setup, the article said, and a little something extra for Kamprad, whom Bloomberg ranks as Europe's second-richest person.
But Forbes puts Kamprad's value at a mere $3 billion, making him just the sixth-richest man in Sweden. The reason? Kamprad isn't technically the owner of IKEA (he retired as CEO in 1986 to become an adviser) and he transferred the majority of his money to his charities, Forbes wrote.
A few dozen billion here or there probably wouldn't matter to the frugal Kamprad, who reportedly drives an old Volvo and has decked out his house with IKEA stuff he put together.
But Bloomberg, which acknowledged that Kamprad had split the business into two parts decades ago, said it gave him the $39 billion value because he still has "ultimate control."