NET WORTH

Ingvar Kamprad Net Worth: $43.2 billion

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Biography

Ingvar Feodor Kamprad is known as a Swedish business magnate. He is also the creator of IKEA, a retail furniture company. Ingvar Kamprad’s current net worth is $43.2 billion. As a young boy, he immersed in business by buying matches, Christmas tree decorations, or ballpoint pens in bulk and selling them individually at a small price while still earning a profit. In 1943, Kamprad founded IKEA and diversified his portfolio by adding furniture that was mostly by mail-order. He had created the name IKEA through his initials, and those of Elmtaryd, the farm where he was born, and Agunnaryd, which was a nearby village.

 

How did Ingvar Kamprad make his money?

Kamprad still owns INGKA Holding which is the parent company of all IKEA stores. However, he resigned from the board of Inter IKEA Holding SA in 2013 and his younger son Mathias is the current chairman of the holding company. Mathias and his two older brothers, Peter and Jonas, have leadership roles at IKEA.  Stitching INGKA Foundation, also named after Ingvar Kamprad who is its chairman, was the world’s wealthiest charity in 2006, but was dethroned by The Bill and Melinda Gates Foundation.

Kamprad has published a few works on the philosophy of IKEA as well as its ideology. He is known to hold talks at different IKEA locations about management. He travels economy class in airplanes and likes to sit in second class in trains, if possible. He doesn’t stay at expensive hotels and has practiced simplicity through his actions and through all activities in IKEA.


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