Ingvar Kamprad

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Ingvar Feodor Kamprad (About this sound pronunciation ; born 30 March 1926) is a Swedish business magnate and the founder of IKEA, a retail (specialty) company. As of 2010, he is the eleventh wealthiest person in the world, according to Forbes magazine, with an estimated net worth of around US$23 billion in 2010.[3]

Contents

Biography

Early life

Ingvar Kamprad was born in Pjätteryd, now part of Älmhult Municipality, and grew up on a farm called Elmtaryd (now spelled Älmtaryd), near the small village of Agunnaryd in Ljungby Municipality in the province of Småland, Sweden.

He is a second generation German from Sweden, his grandfather having first moved the family to Sweden.

Career

Kamprad began to develop a business 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, Christmas tree decorations, seeds, and later ballpoint pens and pencils. When Kamprad was 17, his father gave him a cash reward for succeeding in his studies.[4] He used this money to establish what has grown into IKEA.

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