Stichting INGKA Foundation

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The Stichting INGKA Foundation is a Dutch charitable foundation worth an estimated US$36 billion, indirectly owning more than 200 outlets of Swedish furniture store chain IKEA. The stated purpose is To promote and support innovation in the field of architectural and interior design.

Stichting INGKA Foundation owns the private Dutch company INGKA Holding, which is the parent company controlling 207 of the 235 outlets of Swedish multinational furniture store chain IKEA. The name "INGKA" comes from a contraction of the name of IKEA's founder, Ingvar Kamprad, who is also chairman of the foundation. "Stichting" is the Dutch language word for foundation.

[edit] Criticism

In May 2006, the Newspaper The Economist estimated that the foundation was worth US$36 billion, making it technically the world's wealthiest charity - more than the Bill & Melinda Gates Foundation. In the same article, The Economist alleged that INGKA was not a real charitable organization, implying that it functions largely as a corporate tax-avoidance and anti-takeover protection scheme for IKEA.[1]

[edit] See also

[edit] References

  1. ^ Flat-pack accounting. The Economist. Retrieved on January 2, 2007.

[edit] External link

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