Ingvar Kamprad

Date of Birth: March 30, 1926

Zodiac Sign: Aries

Date of Death: January 27, 2018

Biography

Ingvar Kamprad, born Ingvar Feodor Kamprad, was a renowned Swedish businessman widely recognized as the founder of IKEA, the global retail company specializing in ready-to-assemble furniture, kitchen appliances, and home accessories. Kamprad was born in Pjätteryd (now part of Älmhult Municipality), Sweden, and displayed entrepreneurial skills from a young age. At the age of 17, he officially founded IKEA in 1943. The name IKEA is an acronym that combines his initials (I.K.) with the first letters of Elmtaryd, the family farm where he was born, and Agunnaryd, his home village. Kamprad’s vision for IKEA was to provide well-designed, functional home furnishings at prices so low that as many people as possible could afford them. His innovative approach to business, including flat-pack furniture and self-service warehousing, revolutionized the retail industry and made IKEA a household name worldwide. Kamprad was known for his frugal lifestyle despite his significant wealth, often driving an old Volvo and flying economy class. He stepped down from an operational role in the company in 1986 but remained involved as a senior advisor until his death.

5 Interesting Facts about Ingvar Kamprad

1. Ingvar Kamprad started his entrepreneurial journey by selling matches to his neighbors at the age of five.

2. IKEA’s first store opened in 1958 in Älmhult, Sweden, and remains operational to this day.

3. Kamprad was dyslexic, which influenced the distinctive naming convention of IKEA products using Swedish names and words rather than product codes.

4. In 1973, Kamprad moved to Switzerland to avoid Sweden’s high taxes and lived there until 2014, when he returned to Sweden.

5. Despite being a billionaire, Kamprad was famously frugal, often shopping at discount stores and reusing tea bags.

5 Most Interesting Quotes from Ingvar Kamprad

1. “Happiness is not reaching your goal. Happiness is being on the way.”

2. “The most dangerous poison is the feeling of achievement. The antidote is to every evening think what can be done better tomorrow.”

3. “Waste of resources is a mortal sin at IKEA.”

4. “Only those who are asleep make no mistakes.”

5. “To design a desk which may cost $1,000 is easy for a furniture designer, but to design a functional and good desk which shall cost $50 can only be done by the very best.”

Highest Net Worth Achieved

At his peak, Ingvar Kamprad’s net worth was estimated to be around $58.7 billion, making him one of the wealthiest individuals in the world.

Children

Ingvar Kamprad had four children: three sons named Peter, Jonas, and Mathias Kamprad from his first marriage to Kerstin Wadling, and a daughter named Annika Kihlbom from his second marriage to Margaretha Kamprad-Stennert.