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Ingvar Feodor KAMPRAD

Primary Position:
Senior Advisor
Primary Company:
IKEA Group
Estimated Net Worth:
At least $450 million
Source of Wealth:
Self-Made
Age:
90
Birthday:
30 March 1926
Religion:
Christian
Nationality:
Sweden
Hometown:
Ljungby, Kronoberg, Sweden
Marital Status:
Widowed

Biography

Kamprad was born in a rural farming village in Sweden in 1926. He founded a furniture business named IKEA at age 17 with money from his father for his school achievements. In 1957, Kamprad invented the "flat pack" and opened his first store a year later. He gradually developed the IKEA Group into a global furniture retailer. He left Sweden for Switzerland in the 1970s to avoid paying high taxes. In the 1980s, he relinquished his management and ownership in the group to ...

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Education History

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Interesting Facts

Kamprad is reported to be frugal; he flies in economy class, stays in cheap hotels and drives a Volvo 240 GL which he has owned for two decades. At the age of 80, he was still flying around the world to visit new IKEA stores, encouraging colleagues to write on both sides of a piece of paper. In an interview, Kamprad was quoted as saying, "I don't think I'm wearing anything that wasn't bought at a flea market. It means that I want to set a good example." He also said he prefers cheap haircuts, "Normally, I try to get my haircut when I'm in a developing country. Last time it was in Vietnam." The only luxury he reportedly allows himself to is a new shirt and tie or a helping of caviar from time to time. He used to own a Porsche in the 1960s, but eventually sold it after using for a short period.

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Interests, Passion, Hobbies

Kind of Interests, Passion and Hobbies: Writing
Description: Has published a few notable works. He first detailed the IKEA concept of frugality and enthusiasm in a manifesto entitled "A Testament of a Furniture Dealer" written in 1976, which has since been considered the fundamental ideology of the IKEA furniture retail concept. Additionally, he also worked with Swedish journalist Bertil Torekull on the book "Leading by Design: The IKEA Story" in 1999.

Kind of Interests, Passion and Hobbies: Business - Entrepreneurship
Description: Came from humble beginnings, and started selling matches at the tender age of five. Set up his own retail business named IKEA at age 17 with the monetary reward from his father for doing well in school.

Kind of Interests, Passion and Hobbies: Outdoors
Description: Enjoys outdoor activities such as fishing, rowing, and walking in the woods. Reportedly loves the mountainous environment, which led to his decision to move to Switzerland.

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Philanthropy

Giving Profile: Member of the Board of Directors of the Kamprad Family Foundation, which reportedly had more than $300 million in assets. Also donates through Stichting IKEA Foundation, the philanthropic arm of Stichting INGKA Foundation. Gives primarily to refugee, child rights, immunization, environment and wildlife, education, and medical research causes. Recipients include the United Nations Children's Fund, the United Nations High Commissioner for Refugees, the World Health Organization as well as universities and research centers. Reportedly also donated to Jewish organizations as an atonement for his early Nazi sympathies.

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