Ikea founder moving back to Sweden

Ikea founder Ingvar Kamprad plans to move back to Sweden before the end of the year,

the

Wall Street Journal

reported.

He left the country in 1973 to avoid high taxes.

Kamprad, 87, will move back to the small town of Älmhult, where he founded the company about 70 years ago, the

Journal

article said.

Kamprad recently stepped down from the board of Ikea’s parent company.

After leaving Sweden, Kamprad moved to Denmark; in 1976 he moved to Switzerland.

Sweden has since abolished a wealth tax and lowered income taxes, the

Journal

report noted. (Source:

Wall Street Journal,

June 28, 2013.)