Switzerland’s super rich getting richer

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

In its annual analysis of the fortunes of Switzerland’s 300 richest people, the Bilan magazine said the exclusive club, including the likes of rock and soul legend Tina Turner, have swelled their combined wealth by six billion Swiss francs ($5.8 billion, 5.5 billion euros) to reach a record 595 billion Swiss francs.

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 44 and 45 billion Swiss francs — two 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 three billion francs to between 28 and 29 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 3.5 billion over the past 12 months as the company has found itself pummelled by a global commodity price collapse.

His fortune now amounts to a mere two billion francs, 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 acknowledged.

In 2014, Switzerland’s multi-millionaires and billionaires had a much better year, with 25 billion francs added to their coffers during the 12-month period.

Still, more than a third of the country’s most wealthy, amounting to 132 people, count their fortunes in billions.

According to Forbes, there are 1,826 billionaires globally.

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