Ingvar Kamprad, Who is founder and owner of furniture giant IKEA and know as Swedish business magnate, Born on 30 March 1926, In Sweden.
His father Feodor Kamprad, who was German Immigrant. His mother was Berta Kamprad. Kamprad grew up on small farm Elmtaryd, near the village of Agunnaryd in Sweden.
Kamprad married twice in his life. First, he married Kerstin Wadling, In 1950. They have one adopted daughter, Annika. They divorced in 1960. In 1963, Kamprad got the second marriage with Margaretha Kamprad-Stennert. They have 3 sons, Peter, Jonas, and Mathias. They divorced in 2011.
At the age Five, He started to selling matches to the villagers and his neighbors from his bicycle. He bought matches in bulk with cheap price from Stockholm. He slowly expanded his business by selling fish, seeds, stationary items like pencils, pen etc, and Christmas decoration materials. At the age of 17, His father gave him cash prize for doing well in the studies. He used this money to set up a business IKEA: I for Ingvar, K for Kamprad, E for his family farm Elmtaryd and A for, his village name Agunnaryd. In 1948, Kamprad widely spread his portfolio including the locally manufactured furniture. In 1953, He introduced the Flat-pack. The main idea behind IKEA is that everyone should able to afford modern furniture. IKEA spread throughout Sweden, and Norway and Denmark and finally spread in Europe. There are more than 300 IKEA stores all over the world.
In June 2013, Kamprad resigned from the board of Inter IKEA and gave the post to his son Mathias.
- Kamprad started works with his bit of pocket money.
- His largest IKEA production is in South Koria, which is 60,000 square meters.
- In his late 80s, He still travels the world visiting new IKEA stores, live in Cheap hotels and drive his old Volvo.
- His net worth is $3.4 billion, which made him one of the richest person in the Sweden as well as the world.
What can we learn from him??
Like Ingvar Kamprad, Create your future today, Build your skills and Never run away from your responsibilities.