AdsoftheWorld BrandsoftheWorld LostRemote AgencySpy PRNewser TVNewser TVSpy FishbowlNY FishbowlDC GalleyCat

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

Mediabistro Job Fair

Mediabistro Job FairLand your next big gig! Join us on Janaury 27  at the Altman Building in New York City for an incredible opportunity to meet with hiring managers from the top New York media compaies, network with other professionals and industry leaders, and land your next job. Register now!