It has often been said that Ikea founder Ingvar Kamprad, while notoriously frugal, was never interested in money. Kamprad left a fortune estimated at close to $59 billion when he died in January 2018, but his primary focus seemed to be in both creating a company that lasted, and also creating a lasting difference.
Experts say his ownership structure and succession plan were designed with both intentions in mind. It can even be argued that Kamprad’s succession plan was a unique hybrid of philanthropy, innovation and business continuity — with the added wrinkle that none of his heirs have direct control of the company he founded going forward. In the end, his company is securely positioned for ongoing growth long after his death; his heirs will be comfortably taken care of, though not in control; and charities and non-profits will benefit from Kamprad’s fortune as well.
Further commentary is here at Bloomberg.