Ingvar Kamprad Net Worth
Ingvar Kamprad net worth: Ingvar Kamprad is a Swedish businessman who founded IKEA and has a net worth of $42.5 billion. Ingvar Kamprad was born in Sweden March 30, 1926. He went into business early in life and is known for his frugality and tendency towards penny pinching. Kamprad began his career as a salesman at a very young age, buying matches in bulk and selling them at a discount. From there, it wasn't long before he began selling other items, including fish, Christmas tree decorations, seeds, ballpoint pens, and pencils. Eventually he added furniture to the mix, and the largely mail-order business that would eventually become IKEA was born. Kamprad is also well-known for his surprisingly low-key lifestyle given his massive net worth. He only travels by economy class commercial airplanes, and is reported to recycle tea bags and keep salt and pepper from restaurants for himself. This fastidious sense of cost consciousness is reflected in IKEA, which is known for its cost saving measures and its low prices compared to other furniture dealers. It is also reflected in this quote from Kamprad, which also doubles as his personal and corporate philosophy: "It is not only for cost reasons that we avoid the luxury hotels. We don't need flashy cars, impressive titles, uniforms or other status symbols. We rely on our strength and our will!"
Net Worth details: Kamprad is credited with the full value of the world's largest furniture retailer, Ikea. He controls Interogo Foundation, which controls the Ikea concept and trademarks. Ikea Group had $39 billion revenue in 2016. Kamprad's three sons own the family investment company Ikano. Ikea has 340 stores that sell nearly 10,000 products and almost 800 million store visits. Ikea Group also reported 4.2 billion euros in net income for 2016.