Ikea founder leaves fortune to no one, structures it to ensure it lasts forever
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Re: Ikea founder leaves fortune to no one, structures it to ensure it lasts forever
#2"The structure, which Kamprad established in the 1980s, assures that the Almhult, Sweden-based company stays outside the family’s direct control."
"His wealth will now be dissipated "
"Kamprad was not interested in money"
Does anyone care about money less than Billionaires?
Re: Ikea founder leaves fortune to no one, structures it to ensure it lasts forever
#3"The structure, which Kamprad established in the 1980s, assures that the Almhult, Sweden-based company stays outside the family’s direct control." "His wealth will now be dissipated " "Kamprad was not interested in money" Does anyone care about money less than Billionaires?
If something is scarce you tend to care about it a lot more.
Re: Ikea founder leaves fortune to no one, structures it to ensure it lasts forever
#4"The structure, which Kamprad established in the 1980s, assures that the Almhult, Sweden-based company stays outside the family’s direct control." "His wealth will now be dissipated " "Kamprad was not interested in money" Does anyone care about money less than Billionaires?
When you have $2.50 to your name, but you have to feed your family for the next week, you care a lot about money because you might die.
I suspect billionaires see money more like kids collecting stickers. It's just a game, constantly trying to get more, for no obvious reason.
Re: Ikea founder leaves fortune to no one, structures it to ensure it lasts forever
#5"The structure, which Kamprad established in the 1980s, assures that the Almhult, Sweden-based company stays outside the family’s direct control." "His wealth will now be dissipated " "Kamprad was not interested in money" Does anyone care about money less than Billionaires?
I think that emphasis should be placed on the word "direct" in your first quote :P
Re: Ikea founder leaves fortune to no one, structures it to ensure it lasts forever
#6"The structure, which Kamprad established in the 1980s, assures that the Almhult, Sweden-based company stays outside the family’s direct control." "His wealth will now be dissipated " "Kamprad was not interested in money" Does anyone care about money less than Billionaires?
If something is scarce you tend to care about it a lot more.
I read this in the book on how to get rich by felix denis in which there is quote: “Money, it turned out, was exactly like sex. You thought of nothing else if you didn’t have it, and thought of other things if you did.”
Re: Ikea founder leaves fortune to no one, structures it to ensure it lasts forever
#7"The structure, which Kamprad established in the 1980s, assures that the Almhult, Sweden-based company stays outside the family’s direct control." "His wealth will now be dissipated " "Kamprad was not interested in money" Does anyone care about money less than Billionaires?
When you have $2.50 to your name, but you have to feed your family for the next week, you care a lot about money because you might die. I suspect billionaires see money more like kids collecting stickers. It's just a game, constantly trying to get more, for no obvious reason.
You might die, or your ego doesn't want to be injured by asking for help? There's a distinction.
Re: Ikea founder leaves fortune to no one, structures it to ensure it lasts forever
#8So, who ultimately appoints the directors? It sounds like it is Kamprad's heirs, but through some layers of indirection that prevents them from meddling directly.
Re: Ikea founder leaves fortune to no one, structures it to ensure it lasts forever
#9When I was young and getting my driving license in Madrid I had to take a bus to the place were exams were done, in the south of Madrid(Mostoles).
A friend of mine worked on IKEA and he told me that it was a lot of expectation as the founder had gone to Spain and it was taking the same bus that I took in order to visit the stores in Spain.
It was surprising to me that someone owning billions will take the bus, while I was trying so hard to earn the necessary money in order to get rid of it.
Re: Ikea founder leaves fortune to no one, structures it to ensure it lasts forever
#10So, who ultimately appoints the directors? It sounds like it is Kamprad's heirs, but through some layers of indirection that prevents them from meddling directly.
There have been many inquires into this by Swedish journalists over the years, but it's a very dense structure of companies with unclear ownership and structure. So who controls it is unknown.
It is also a great tax evasion schema since the ownership is a charity (that donates money to "product design"), allowing IKEA to escape vast sums of taxation globally.