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 spite of everything, I still believe that people are really good at heart. I simply can’t build up my hopes on a foundation consisting of confusion, misery, and death. I see the world gradually being turned into a wilderness, I hear the ever approaching thunder, which will destroy us too, I can feel the sufferings of millions and yet, if I look up into the heavens, I think that it will all come right, that this cruelty too will end, and that peace and tranquillity will return again.”
—Anne Frank (1929–1945)