Who Is Running IKEA?

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There are a number of profitable companies today who are backed by foundations with large amounts of liquid cash. Founders often set this up for the future sustainability of the business, avoiding corporate takeovers of the company and better tax management.

More often useful than bad, foundations can be used to invest for the long term future, especially in other ventures that will create value for the overall business. One of the other main reason is to manage and increase their financial reserves, through their investment portfolios, for their primary business usage when a financial crisis happens.

Foundation led business such as IKEA is a private company that is currently managed by two foundations, collectively are reported to be the wealthiest after the Bill and Malinda Gates foundation. Stichting INGKA Foundation indirectly manages the IKEA retail outlets and related investments for IKEA, and Interogo Foundation indirectly controls the IKEA systems and supplies.

Another company that I admire is Sunway University which is currently managed by the Jeffrey Cheah Foundation, an education-driven foundation for the greater good of the nation’s education and the sustainability of the university. It also gives Sunway University a competitive advantage over their competitors as they do not have any shareholders to manage except the board of trustee in the foundation.

  • Endowment | Harvard University (no date). Available at: https://www.harvard.edu/about-harvard/harvard-glance/endowment (Accessed: 9 May 2019).

  • What we do | Ingka (no date). Available at: https://www.ingka.com/what-we-do/ (Accessed: 9 May 2019).

  • TaskRabbit connects you to safe and reliable help in your neighbourhood (no date). Available at: https://www.taskrabbit.com/ (Accessed: 9 May 2019).

  • Inter IKEA Systems B.V. - Who we are (no date). Available at: http://franchisor.ikea.com/who-we-are-2-2/index.html (Accessed: 9 May 2019).

  • Business in brief - Interogo Holding AG (no date). Available at: https://www.interogoholding.com/about-us/business-in-brief/ (Accessed: 9 May 2019).

  • The businesses owned by Interogo Foundation (no date). Available at: https://www.interogofoundation.com/assets-and-businesses/the-businesses-owned-by-interogo-foundation/ (Accessed: 9 May 2019).

  • Guiding Principles - Jeffrey Cheah Foundation (no date). Available at: https://jeffreycheah.foundation/guiding-principles/ (Accessed: 9 May 2019).

  • https://www.ikeafoundation.org/ (no date) ‘IKEA Foundation’. https://www.ikeafoundation.org/. Available at: https://www.ikeafoundation.org/stories/why-were-supporting-a-new-generation-of-designers/ (Accessed: 9 May 2019).

Richard Ong is the author of Mindsets and Core Purpose. He now devotes his time to helping others develop new ideas and projects for the future. He is also a business coach and keynote speaker, with multiple IBM Bravo and Performance awards. He was met by Prince Charles to discuss his entrepreneurial efforts in Malaysia. Richard has been featured on BFM and Sunway. Visit roptcreate.com to learn more and to connect with him.