Stichting INGKA Foundation
The Dutch-registered Stichting INGKA Foundation is named after Ingvar Kamprad (i.e. ING + KA) who owns INGKA Holding, the parent company for all IKEA stores. The charitable foundation was reported by the business newspaper The Economist in May 2006 to be technically the world's wealthiest charity – with an estimated value of at least US$36 billion in 2006 (larger than the Bill & Melinda Gates Foundation) – but its primary purpose is corporate tax-optimization and anti-takeover protection for IKEA. Kamprad is chairman of the foundation.
Read more about this topic: Ingvar Kamprad
Famous quotes containing the word foundation:
“In strict science, all persons underlie the same condition of an infinite remoteness. Shall we fear to cool our love by mining for the metaphysical foundation of this elysian temple? Shall I not be as real as the things I see? If I am, I shall not fear to know them for what they are.”
—Ralph Waldo Emerson (1803–1882)