
The 86-year-old founder of Swedish furniture giant Ikea revealed he has no plans to retire and rejected any idea of the company going public in an interview published in Switzerland. \"The company will never go to the market,\" Ingvar Kamprad told the latest edition of Swiss business magazine Bilanz. \"We want to keep strict self-financing.\" Named by Swiss media in June as Europe\'s richest man with an estimated fortune of $37.5 billion (28.8 billion euros) including holdings in the family-owned foundation, Lake Geneva resident Kamprad also rubbished recent reports that he intended to step down. \"Oh, I have so much work to do and no time to die,\" he said, in an apparent reference to reports in the Swedish media in September that he was about to pass the baton to his three sons Peter, Jonas and Mathias. In the interview, Kamprad also spoke about alleged disputes with his sons, all of whom have key roles in the business that employs 131,000 people in 41 countries, according to Bilanz. \"We do not always agree. But that\'s normal in a family,\" Kamprad said. Despite his enormous wealth Kamprad confirmed his reputation for frugality, saying he lived \"humbly and privately.\" Kamprad, who founded Ikea in 1943 in his home town of Aelmhult in southern Sweden, has faced harsh criticism in the past for his ties to the Nazi youth movement during World War II. He later described the period as the \"folly of youth\" and \"the greatest mistake of my life.\"
GMT 09:47 2018 Tuesday ,23 January
SAP unveils big push into French tech start-upsGMT 05:07 2018 Tuesday ,23 January
Noble Group shares surge 37 percent on buyout talksGMT 19:07 2018 Monday ,22 January
BAKS spent Dh225m on charity projects in 2017GMT 22:52 2018 Sunday ,21 January
French firm "recalls baby milk product"GMT 22:27 2018 Sunday ,21 January
US company plans funds that double bitcoin price movesGMT 21:23 2018 Sunday ,21 January
Pence starts Mideast tour in Egypt amid Arab angerGMT 08:54 2018 Saturday ,20 January
Million-euro bill for firm behind Paris bike-share chaosGMT 10:47 2018 Friday ,19 January
German chemical giant BASF sees 'significant' profit leap

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Send your comments
Your comment as a visitor