by MATTHEW ALLEN
The wealthiest man in Switzerland: IKEA president Ingvar Kamprad PHOTO/AFP
The 300 richest people in Switzerland added another SFr31 billion ($33 billion) to their wealth this year, bringing the total pot to SFr512 billion despite the ongoing economic downturn in Europe.
Ikea founder Ingvar Kamprad remained top of the rich list compiled by the Bilanz business magazine, with an estimated fortune of SFr38-39 billion. But his SFr3 billion growth in wealth paled in comparison with brewery investor Jorge Lemann, whose fortune doubled to SFr18 billion.
Bilanz put the 6.5 per cent growth in collective wealth mainly down to the revival in global stock markets so far this year.
While the list contains many “home grown” multi-millionaires and billionaires, the attractive tax regime in many Swiss cantons has attracted people who made their fortunes overseas.
Swedish entrepreneur Kamprad made his home in canton Vaud many years ago while Lemann, born in Brazil to Swiss immigrant parents, now lives in Zurich.
Backlash
Some 5,445 people benefited from preferential tax treatment in Switzerland in 2010, according to official figures. Under the so-called lump sum tax system, individuals are taxed on their cost of living rather than income or wealth.
Despite the government proposing to tighten up the rules on lump sum tax, the Swiss people will soon vote on whether to scrap the controversial system that is seen by some to unfairly favour the ultra-rich.
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