IKEA Founder Left $23 Billion To Charity And Businesses In Sweden

IKEA Founder Left $23 Billion To Charity And Businesses In Sweden

March 19, 2018

IKEA founder Ingvar Kamprad was worth an estimated $46 billion before he died. According to his will, half of that money will go to charity and businesses in Sweden, with the rest divided among his children.

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Kamprad passed away in January 2018 at his home in Smaland, a province in southern Sweden, at the age of 91.

Since starting IKEA in 1943 at 17 years old, Kamprad amassed an estimated 362 billion kronor ($46 billion) according to Swiss economic magazine, Bilan.

In his last will and testament, written in 2014, Kamprad left half of that money to his four children, and the other half to the Kamprad Family Foundation, tasked with reviving northern Sweden’s industrial sector.

“The remaining part of my estate will go to the FKS foundation. These funds will be used for the development of business activity in Norrland,” Kamprad’s will reads.

“He wanted to make it possible for people to live there and not have to leave,” IKEA Foundation director Per Heggenes said.

At the time of his death, Krampard was the eight richest person in the world.