Ikea founder Ingvar Kamprad (Photo by Chris Jackson/Getty Images), Known for his relentless pursuit of efficiency, Kamprad introduced the flat-pack in 1953, then moved production of his cheap chic furniture to Soviet Poland in 1961 to minimize labor costs. At the time of his death, Ingvar Kamprad was ranked No. In 2011 his net worth fell dramatically after his lawyers presented documents detailing how the ownership of Ikea had been irrevocably transferred to a foundation in tax haven Lichtenstein decades earlier. In May 2006 the charitable foundation was reported by The Economist to be the world's wealthiest charity, however the Bill & Melinda Gates Foundation has since become larger.
Kamprad relentlessly pursued efficiency to keep his furniture prices low and showed little interest in the trappings of wealth, at one point driving a Volvo for two decades. Sign up for Insider Life. The three Kamprad brothers are media shy and have rarely given interviews, according to The Local Sweden. as well as other partner offers and accept our, Mark Cuthbert/UK Press via Getty Images; Ikano Group; Ruobing Su/Business Insider, Linda Rosier/NY Daily News Archive via Getty Images, English Heritage/Heritage Images/Getty Images, Illustré/RDB/ullstein bild via Getty Images, died in 2018 as the eighth-richest person in the world, a $9.1 billion group of companies involved in areas including real estate. $3.5B. With the coronavirus-induced market crash, the Great White North’s richest billionaires have seen their fortunes go downhill. Peter, who lives in Belgium, spent 12 years running Ikea operations in Belgium and also once worked for H&M, another major Swedish retailer, a spokesperson for the Kamprad brothers confirmed to Business Insider. Ikea is the world's largest furniture retailer, according to Forbes. © 2020 Forbes Media LLC.
Kamprad's three sons, Peter, Jonas, and Mathias Kamprad, all have board member roles within the group of companies that make up Ikea. Opinions expressed by Forbes Contributors are their own. Kamprad founded IKEA at the age of 17, peddling matches, fish and Christmas cards by bicycle. In 2012 Forbes dropped Kamprad's net worth to $3.3 billion. Mathias, who also lives in London, worked as an assistant to his father, Ingvar, Here's what the first Ikea store ever looked like when it opened in Sweden more than 60 years ago. All Rights Reserved, Photo by Zlatohlavek Robert/ZUMAPRESS.com/Newscom. The company has been criticized for its complex corporate organizational structure. Kamprad became part of Sweden's fascist movement around the same time he started Ikea, The Washington Post reported. Kamprad created IKEA when he was 17, peddling matches, fish and Christmas cards by bicycle. © 2020 Forbes Media LLC. As Columbia grad with a master in business journalism, I have previously worked for the Swedish newspapers Skånska Dagbladet and Smålandsposten, and for two years I headed the monthly magazine Lundagård that concentrated on educational policy and student life. The Dutch-registered Stichting INGKA Foundation is named after Ingvar Kamprad (i.e., ING + KA) which owns INGKA Holding, the parent company for all IKEA stores.
Peter Kamprad is the chairman of the board and Jonas and Mathias are also board members. A leading-edge research firm focused on digital transformation. Best recognized as the founder of the retailing company IKEA, Swedish business magnate and billionaire Ingvar Kamprad has an estimated net worth of $52.8 billion in January 2018. 2015 Billionaires NET WORTH. since. In 1973, Kamprad moved Ikea's headquarters from Sweden to Copenhagen, Denmark, to avoid unfavorable business taxes for the fast-growing company. You may opt-out by. He attended meetings of pro-Nazi extremist groups and was reportedly part of the Swedish version of the Hitler Youth.
Interests in banking, real estate and insurance outside of Ikea still earned him a status as billionaire. An Ikea spokesperson told Business Insider that Kamprad described his involvement in the groups as "his biggest mistake and came to regret it for the rest of his days.
"All three brothers spent time with Ingvar to learn and be inspired – Ingvar was a fantastic source of knowledge and inspiration," the brothers' publicist told Business Insider. "He lived in Switzerland to avoid Sweden's high taxes, drove an old Volvo, flew only economy class, stayed in budget hotels, ate cheap meals, shopped for bargains and insisted that his home was modest, that he had no real fortune and that Ikea was held by a charitable trust," Robert D. McFadden wrote for The New York Times. Between 2005 and 2010, Kamprad was estimated by Forbes to be one of the 10 richest people in the world, worth as much as $28 billion, based largely on the value of IKEA.
He ranked as high as number four twice on the World’s Billionaires rankings. Inter Ikea Group controls the intellectual property of the Ikea brand and is where the Ikea franchisor sits. The home was listed on real estate websites with a note that read, "Current house to demolish," according to The Local. Roughly half of the planet's 2,095 billionaires are now citizens of either the United States or China.
started Ikea in 1943 when he was just 17 years old, 434 stores and employs more than 208,000 people, Ikano Group, a group of companies involved in areas including real estate, he started out selling things like picture frames, Kamprad became part of Sweden's fascist movement, criticized for its complex corporate organizational structure, Kamprad moved Ikea's headquarters from Sweden to Copenhagen.
In 2014 he moved back to the outskirts of Älmhult, the rural town close to where he grew up that is home to Ikea's headquarters.
8 on Bloomberg's Billionaires Index thanks to his control of a $58.7 billion Ikea fortune. His net worth would have been much higher today, probably upwards of $60 billion, had he not denied owning Ikea. Between 2005 and 2010, Kamprad was estimated to be one of the 10 richest people in the world by FORBES, worth as much as $28 billion based largely on the value of Ikea. The three Kamprad brothers own Ikano Group, a group of companies involved in areas including real estate, banking, insurance, and retail that was once part of Ikea but later became an independent company. "We, the sons, have promised him to sustain his legacy and do what we can to ensure the core values and the unique IKEA concept are carried on into the future," they wrote. In 2011 his net worth fell dramatically after his lawyers presented documents showing that ownership of IKEA had been irrevocably transferred to a foundation in tax haven Lichtenstein decades earlier. The group also provides advice on "sustainable risk solutions" for the Ikea franchise concept, according to its website. Ingvar Kamprad, the company's reclusive and frugal founder who died in January 2018 at age 91, started Ikea in 1943 when he was just 17 years old. At the time of his death, Kamprad was ranked No. Annika said at the time that she was "happy with the arrangement.". They’re worth a combined $152 billion, $27 billion less than a year ago.
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