Ikea’s Frugal Founder Has Passed Away at 91 Years-Old.


Ikea's founder has passed away
The 91 year-old founder of the furniture giant Ikea, passed away yesterday in his Swedish home.  Ingvar Kamprad started Ikea when he was just 17 years old. He was said to be the fourth richest man in the world with over 412 Ikea stores worldwide but notoriously frugal. Kampard purchased all of  his clothes from flea markets, took discounted easy Jet flights, drove himself around in a 15-year-old Volvo and furnished his modest house almost entirely with Ikea items – which he assembled himself. The company’s statement on Kamprad’s passing called him, ‘one of the greatest entrepreneurs of the 20th century.’
Ikea's founder has passed away
Here’s  9 more facts about Kamprad and Ikea you may not have known:

  • Ingvar was so cheap he left Sweden for Denmark because they had less taxes. He was also spotted with his wife out at cheap restaurants and haggling down prices at the market.
  • Ingvar was honored with a statue of him in his hometown. When he was invited to cut the ribbon on the monument he instead untied it, folded it, then gave it back to the mayor, telling him he could use it again.

  • The name IKEA comes from his initials, IK, with an E for Elmtaryd, the family farm where he grew up, and an A for Agunnaryd, his home village.
  • The first IKEA store was built in 1965 but burned down when wind smashed the neon sign and caused a fire.
  • He came up with the idea of flat-packed furniture when he was trying to fit a table into the trunk of his car and a friend suggested he should take the legs off.

  • As a young kid he started a mail order catalouge and sold matchboxes, fish, pens, pencils and Christmas decorations to neighbors from his bicycle.
  • When his mail order business grew, Ingvar distributed his products via the local milk van, which delivered them to the nearby train station.
  • He claimed he had been influenced as child by his German grandmother’s strong support for Hitler leading him to claim to have sympathies for the far-right leader in his youth. He went on to say it was, ‘a part of my life which I bitterly regret’.

  • Over the last of his years, the IKEA company was jointly run  by Mr Kamprad’s three sons: Peter, 44, Jonas, 41, and Matthias, 39.