Founder of IKEA, Ingvar
Kamprad
The charismatic founder
of IKEA, the multinational furniture company that currently generates over 15
billion in sales, has always had a keen sense of business. At the age of five,
he was already selling matches to his friends. In 1950, Ingvar Kamprad developed
the concept of foldable furniture, the secret to IKEA's success. The Swedish
businessman patiently built his empire of inexpensive contemporary furniture
that now extends to the far corners of the world.
The Kamprad family has
lived in Switzerland since 1976 at Epalinges, in Upper Lausanne.
Kamprad's three sons learned French, a language already spoken by Ingvar's wife,
Margaretha. In keeping with his style, the founder of IKEA lives in a discreet
home and drives an old Volvo. His wife presides over the Lausanne parish of the
Swedish Church, where they get together with the many other Swedes who have
settled in Switzerland. When not on business trips or gazing over the shores of
Lake Geneva, the Kamprad family led a happy life in Upper Lausanne.
Living in Switzerland
allows this businessman to travel quickly throughout Europe and to enjoy an
exceptional standard of living in the Lake Geneva Arc. And yet the head of IKEA
still lives life at the same old pace. In reality, he is thrifty and waits until
the end of the village market to take advantage of the best prices and travels
by train in second class. The billionaire feels so safe in Switzerland that he
rides public transportation to travel incognito throughout Switzerland.
Founded $14.3 billion (sales) furniture chain Ikea
in 1943; the Swede still runs the show from tax-haven Switzerland. Despite 186
stores in 31 countries—11 new ones in the last year including five in North
America—Ikea achieved a modest 3% increase in sales in Fiscal Year 2003. His
three sons work at Ikea and one will eventually be named successor. He flies
economy, avoids wearing suits and drives a ten-year old Volvo and said to shake
the hands of all 1,000 employees who attend company's annual meeting. Kamprad
derives his wealth not only from the stores but also from ownership of most of
the land Ikea stores sit on.
Kamprad, Ingvar :
# 14 on World's Richest People 2003
# 16 on World's Richest People 2002
# 17 on World's Richest People 2001
On World's Richest People 2000
On World's Richest People 1999
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