Ingvar Kamprad & family’s profile picture

Ingvar Kamprad & family

Ingvar Kamprad & family’s profile picture
Net worth 2018: $3.5 Billion
Country: Sweden
BirthDay: 30 March 1926
Sigh: Aries
Children: 4
BIOGRAPHY

Ingvar Kamprad & family was bornon 30 March 1926 in Sweden. Known for his relentless pursuit of efficiency, Ikea founder Ingvar Kamprad introduced the flat-pack in 1953, then moved production of his cheap chic furniture to Soviet Poland in 1961 to minimize labor costs. On the way to growing his home furnishings empire he published the Furniture Dealer's Testament or the "Ikea Bible," which includes maxims such as "wasting resources is a mortal sin at Ikea." He stepped down as chairman in 2013, leaving the company in the hands of son Mathias. In 2011 his net worth took a drastic slide after his lawyers produced documents proving that he had irrevocably transferred the majority of his stake in Ikea to entities beyond his economic control decades earlier, later selling them the balance. But with the exception of his winery in Provence, Kamprad, 88, has historically shown little interest in the trappings of wealth. He reportedly prefers to fly economy and for more than two decades drove a Volvo until he was convinced it was no longer safe. He has interests in banking, real estate, asset management and insurance. He famously left Sweden to avoid punitive taxes in 1973, but in 2014 he moved back to Älmhult, the rural town close to where he grew up that is home to Ikea's headquarters.

NET WORTH STATISTIC
2010

$23 Billion

2011

$6 Billion

2012

$3 Billion

2013

$3.3 Billion

2014

$4.1 Billion

2015

$3.5 Billion

2018

$3.5 Billion

TIMELINE
2016

Forbes reported Kamprad's net worth as of February 2016 to be $3

2015

In June 2015, Kamprad was listed as the eighth wealthiest person in the world in the Bloomberg Billionaires Index, with an estimated net worth of $43

2013

In June 2013, Kamprad announced that he intended to move back to Småland in Sweden by the end of the year, and did so in March 2014

2011

Writing in UK newspaper The Daily Telegraph in August 2011, Richard Orange noted of the 1943 file: "It proves for the first time that Mr Kamprad was an active member of Svensk Socialistisk Samling – the successor to the Swedish Nationalist Socialist Workers Party – even detailing his membership number, 4013

2010

The company he created is still known for the attention it gives to cost control, operational details and continuous product development, allowing it to lower its prices by an average of 2-3% over the decade to 2010, while continuing its global expansion

2006

In May 2006 the charitable foundation was reported by The Economist to be the world's wealthiest charity, however The Bill and Melinda Gates Foundation has since become larger

2004

In 2004 he said that his drinking was under control

1994

Kamprad devotes two chapters to this time in Nysvenska Rörelsen in his book Leading by Design: The IKEA Story and, in a 1994 letter to IKEA employees, called his affiliation with the organization the "greatest mistake of his life"

1993

According to an interview with TSR, the French-language Swiss TV broadcaster, Kamprad drives a 1993 Volvo 240, flies only economy class, and encourages IKEA employees to use both sides of pieces of paper

1976

He lived in Épalinges, Switzerland, from 1976 to 2014

1960

In the 1960s, Kamprad married his second wife, Margaretha Kamprad-Stennert (1940-2011), whom he met when she was twenty years old

1950

When Kamprad quit the group is unknown, but he remained a friend of Engdahl until the early 1950s

1948

In 1948, Kamprad diversified his portfolio, adding furniture

1945

Kamprad had raised funds for and recruited members to said group at least as late as September 1945

1943

IKEA was founded in 1943, selling replicas of Kamprad's uncle Ernst's kitchen table

1926

Ingvar Feodor Kamprad (Swedish: [ˈɪŋːvar ˈkamːprad] ( listen); born 30 March 1926) is a Swedish business magnate

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