Liquid Treat AgencySpy AdsoftheWorld BrandsoftheWorld LostRemote TVSpy TVNewser PRNewser FishbowlNY FishbowlDC 10,000 Words GalleyCat MediaJobsDaily

IKEA Founder to Return to Sweden

Ingvar Kamprad put the “IK” in IKEA (the “E” and the “A” are for Elmtaryd, the family farm where he was born, and a neighboring village, Agunnaryd), but he left Sweden in 1973 to escape the hefty taxes and settled in Switzerland. Now the 87-year-old IKEA founder, whose fortune is estimated at $51.7 billion (that’s enough to buy more than 8 million Billy bookcases), is coming home. “To move back to Sweden brings me closer to my family and my old friends,” Kamprad said in a statement. The country’s tax laws have softened since his departure, according to the Wall Street Journal. A wealth tax has been abolished and income taxes have been lowered. Kamprad recently stepped down from the board of IKEA’s parent company, Inter IKEA Group, which is now chaired by one of his three sons.

Mediabistro Course

Online Production for Writers and Editors

Online Production for Writers and EditorsStarting July 17, learn how to create multi-dimensional content for your digital mediums! Taught by a mulitplatform journalist, Darragh Worland will teach you how to create content that is multi-dimensional and editorially relevant, use the web to its full potential, create stories that have social media campaigns built in and increase your value as an employee. Register now!