Feodor Ingvar Kamprad was a Swedish billionaire businessman best known for inventing IKEA. We will know about Ingvar Kamprad Net Worth later in this post. Ikea is a global retail chain with a focus on furniture (Swedish: 30 March 1926 – 27 January 2018). From 1976 through 2014, he resided in Switzerland.
Ingvar Kamprad Bio/Wiki
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Feodor Kamprad (1893-1984) and Berta Linnea Matilda Nilsson (1903-1956) welcomed him into the world at Pjätteryd, Kronobergs län, Smland, Sweden, where it is today a component of the municipality of Älmhult. His father was born in Germany and immigrated to Sweden at the age of one, whilst his mother was of Swedish descent. Achim Erdmann Kamprad, the paternal grandfather of Kamprad, was born in Altenburger Land, Thuringia, and Franzisca (“Fanny”) Glatz, the paternal grandmother of Kamprad, was born in Radonitz (Radonice), Bohemia, then Austria-Hungary. They emigrated from Germany to Sweden in 1896. The Kamprad family had vast estates in Thuringia by the 19th century. The surname Kamprad is a variation of “Kamerade,” which means “Comrade,” and it dates back to the 14th century.
Annika was adopted by Kamprad and his first wife Kerstin Wadling. Kamprad married Margaretha Kamprad-Stennert (1940-2011), his second wife, in the 1960s. He first met her when she was twenty years old. They have three sons: Mathias, Peter, and Jonas. From 1976 through 2014 he resided in Épalinges, Switzerland. In March 2014, Kamprad returned to Smaland, Sweden, after spending nearly forty years abroad. Earlier in his career, Kamprad was employed by Polish furniture producers when he developed an alcohol problem. According to The New York Times, Kamprad “managed it by drying out three times a year” when he claimed in 2004 that his drinking was under control.
In a 2006 interview, Kamprad claimed to have been driving a 1993 Volvo 240, travelling in economy, and encouraging IKEA staff to print or write on both sides of a sheet. According to reports, he saved the salt and pepper packets from restaurants and recycled tea bags. In addition to visiting IKEA for a “cheap dinner,” Kamprad was renowned for his thrifty ways, which included buying gifts and wrapping paper during after-Christmas sales. The organisation he founded is still renowned for its focus on cost management, operational details, and ongoing product development, which allowed it to cut costs by an average of 2-3% over the ten years leading up to 2010 while maintaining its international expansion. In Testament of a Furniture Dealer, Kamprad expresses his social philosophy as follows: “We shun luxury hotels for a variety of reasons, not only financial ones. We don’t require showy vehicles, noteworthy positions, fancy attire, or other status indicators. We rely on our might and resolve!” Kamprad had a home in Switzerland, a sizable farm in Sweden, and a vineyard in Provence, France. For a while, Kamprad was a Porsche driver. In a company called the Ikano Group, which has a sizeable minority share in IKEA valued at US$1.5 billion, Kamprad had designated his sons as the only successors. Annika, his adoptive daughter, was to get roughly $300,000. We will know about Ingvar Kamprad Net Worth later in this post.
Ingvar Kamprad Education
He attended a boarding school nearby at the age of 14 and it was reported that he was dyslexic. Ingvar kept up his business while going to college. He attended Gothenburg’s Handelsinstitut, now part of Hvitfeldtska Gymnasiet. His future began to take form as he realised that the easiest, most economical distribution from the plant to the client was necessary for success. He dropped out of college, however leaving his university studies incomplete.
Ingvar Kamprad Career
When Kamprad was a young lad, he started to build a company. At age five, he started selling matches. He started riding his bicycle farther away when he was seven to deliver goods to neighbours. Ingvar discovered he could purchase matches in large quantities from Stockholm at a very low cost, sell them individually for a low price, and yet turn a healthy profit. He started off selling matches, then moved on to selling seeds, fish, Christmas tree ornaments, and then ballpoint pens and pencils. When Kamprad was 17 years old, his father handed him a $1,000 bonus for doing well in school. From 1943 until 1945, Ingvar attended Gothenburg’s Handelsinstitut, which is now a component of Hvitfeldtska Gymnasiet. At his uncle Ernst’s kitchen table, Kamprad created IKEA in 1943 when he was just 17 years old. Kamprad expanded his business by including furnishings in 1948. Most of his customers came via mail order. The letters of his name (Ingvar Kamprad), as well as those of Elmtaryd, the family farm where he was born, and the adjacent hamlet of Agunnaryd, where he was reared, are combined to form the acronym IKEA. Per Ludvigsson took over as chairman of Inter IKEA Holding SA when Mathias Kamprad, the youngest son of Kamprad, resigned from the board in June 2013. After announcing his plan to retire, the 87-year-old founder said, “I believe that it is an appropriate time for me to stand away from the Inter IKEA Group board. By doing that, we are also moving forward in the generational transition that has been going on for a while.” Work on the organization’s overarching vision and long-term strategy are done by Mathias and his two elder brothers, both of whom hold executive positions at IKEA.
Ingvar Kamprad Net Worth
When he passed away in 2018, Swedish entrepreneur Ingvar Kamprad had a $42.5 billion fortune. As the creator of the international retailer IKEA, Ingvar amassed wealth. Today, IKEA brings in more than $40 billion annually. Ingvar managed IKEA throughout most of his life using a combination of investment trusts and rather complicated foundations. As an illustration, the Interogo Foundation, which manages the IKEA brand and its trademarks, receives a fee on each product that bears the IKEA name. The Bill & Melinda Gates Foundation has grown since The Economist named the philanthropic organisation the world’s wealthiest charity in May 2006. To escape the astronomically expensive Swedish taxes, Kamprad relocated his family to Switzerland in 1970. He finally amassed a $40–$50 billion paper net worth. In 2011, he relocated back to Sweden. He reduced his net worth to just $113 million in cash assets before the relocation by transferring IKEA ownership to a number of intricate trusts and organisations. Considering that he was still legally the owner and beneficiary of such trusts, the majority of sources concurred that his net worth could still be calculated to be at least at the $40 billion level. He was the tenth richest person in the world in March 2010 when Forbes assessed his net worth to be $23 billion USD. A year later, he dropped to 162nd when his attorneys submitted records demonstrating that the foundation he founded and is the director of in Liechtenstein controlled IKEA and that its statutes prohibited him and his family from receiving any financial benefits from the company. According to the Bloomberg Billionaires Index, he was ranked as the ninth richest person in the world in June 2015. His net worth was estimated by Forbes to be $3.4 billion in February 2016. [table id=3771 /]
Ingvar Kamprad Wife
Annika was adopted by Kamprad and his first wife Kerstin Wadling. Kamprad married Margaretha Kamprad-Stennert (1940-2011), his second wife, in the 1960s. He first met her when she was twenty years old. They have three sons: Mathias, Peter, and Jonas.
Ingvar Kamprad Height, Weight & Age
He passed away in 2018 at the age of 91 years old due to pneumonia. Ingvar was 5 feet and 6 inches tall and weighed about 82 kgs as of 2018 when he passed away. He had grey hair and he wore spectacles.
How much is net worth Ingvar Kamprad? $42.5 billion Who was Ingvar Kamprad’s wife? Margaretha Kamprad-Stennert What was Ingvar Kamprad’s age? 91 years at the time of death What was the name of Ingvar Kamprad’s firm? IKEA