Sun, Nov 29, 2015 - Page 13 News List

Swiss super-rich are getting richer, annual report says


Morose economic growth and a turbulent stock market have not stopped Switzerland’s super-rich from getting richer this year, a report showed on Friday.

In its annual analysis of the fortunes of Switzerland’s 300 richest people, Bilan magazine said that the exclusive club, including the likes of rock and soul legend Tina Turner, have swelled their combined wealth by 6 billion Swiss francs (US$5.8 billion) to reach a record SF595 billion.

Topping the list for the 14th year in a row was the family of IKEA founder Ingvar Kamprad, who this year count an accumulated fortune of between SF44 and SF45 billion — SF2 billion more than last year.

Kamprad, 89, moved back to his native Sweden in 2013, but his two sons, who run the flat-pack furniture empire, remain in Switzerland and hold Swiss nationality.

Coming in second was Swiss-Brazilian food magnate Jorge Lemann, who hiked his fortune by SF3 billion to between SF28 and SF29 billion, Bilan said.

His 3G Capital fund controls the likes of Budweiser and Stella Artois, Burger King and HJ Heinz.

South African national Ivan Glasenberg, who heads debt-laden mining and commodities giant Glencore, meanwhile saw his personal fortune shrink by SF3.5 billion over the past 12 months as the company has found itself pummeled by a global commodity price collapse.

His fortune now amounts to a mere SF2 billion, said Bilan, which has been drawing up its list since 1988.

“The conditions for the richest people have not been the best this year,” the magazine said.

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