Sweden's richest man controls IKEA, the world's largest furniture retailer, through a series of trusts and foundations. The company generated more than $33 billion in revenue and about $4 billion in net income in 2011. Ikano Group, his family's investment vehicle, manages four IKEA franchises, a credit card business and real estate investments.
Galaxy Entertainment Group Ltd. founder Lui Che-Woo’s wealth has leaped by $10.2 billion this year -- and $1 billion in just one day yesterday -- as Macau draws record gaming revenue and his shares hit a new high.
Bloomberg Markets’ inaugural list of the world’s richest people showcases the billionaires who pull the levers on the global economy. Their net worth totals $2.7 trillion, about the size of the gross domestic product of France, the fifth-biggest economy on the planet.
The IKEA retail empire Ingvar Kamprad started almost 70 years ago has amassed a fortune that Bloomberg values at more than $40 billion and makes him the richest man in Europe, and one of the world’s five wealthiest men.
Ikea founder Ingvar Kamprad handed his youngest son the chairmanship of the company that controls the flat-pack furniture chain’s brand and concept as the retailer transitions power to the family’s next generation.
Home Retail Group Plc, owner of the U.K. catalog chain Argos, agreed to buy rights to the Habitat brand in the U.K. and Ireland along with three London stores after the furniture retailer was placed into administration.