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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:
91
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 reportedly published "A Furniture Dealer's Testament", also known as the "IKEA Bible", which includes maxims such as "wasting resources is a mortal sin at Ikea". He is also reported to value time, and was quoted as saying "Time is your most important asset. Split your life into 10-minute units and sacrifice as few as possible to meaningless activity."

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Interests, Passion, Hobbies

Kind of Interests, Passion and Hobbies: Business - Retail
Description: Started his own retail business at age 17 and strove for perfection in retail while building the global IKEA empire. A "relentless" pursuer of efficiency, he said "wasting resources is a mortal sin at IKEA."

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: Alcoholic Beverages
Description: Struggles with alcoholism, and tries to abstain from drinking for short periods, three times per year. Owns a vineyard in Provence, France.

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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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