A humble billion

"I’d say that title falls to Ingvar Kamprad

Ingvar Kamprad (Source : Google Image)

Ingvar Feodor Kamprad, born 30 March 1926, is a Swedish businessman and billionaire with a net worth of $44,1 Billion (Source : Bloomberg Billionaires). He is the founder of IKEA, a Swedish retail company specialising in furniture. Kamprad showed an entrepreneurial spirit as a young boy, selling matches to neighbors from his bicycle. He found that he could buy matches in bulk very cheaply from Stockholm, sell them individually at a low price, and still make a good profit. From matches, he expanded to selling fish, seeds, and later ballpoint pens and pencils. When Kamprad was 17, his father gave him a cash reward for succeeding in his studies. IKEA was founded in 1943 at Kamprad's uncle Ernst's kitchen table. In 1948, Kamprad diversified his portfolio, adding furniture. His business was mostly mail-order. The acronym IKEA is made up of the initials of his name (Ingvar Kamprad) plus those of Elmtaryd, the family farm where he was born, and the nearby village Agunnaryd.

Here is a quote from Ingvar Kamprad :

“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 told Swedish channel TV4, according to business daily Dagens Industri which viewed the documentary.

“It’s in the nature of Smaland to be thrifty,” he said, referring to Sweden’s southern agricultural region where he comes from

Source : Ikea billionaire Ingvar Kamprad buys second-hand clothes to save money"

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