The founder of IKEA is one of the richest persons in the World!

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Ingvar Kamprad is a Swedish business magnate. He is the founder of IKEA, probably the most famous retail company specializing in furniture.

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.

IKEA was founded in 1943 at Kamprad’s uncle Ernst’s kitchen table. In 1948, Kamprad diversified his portfolio, adding furniture. His business was mostly mail-order.

The acronym IKEA is made up of the initials of his name (Ingvar Kamprad) plus those of Elmtaryd, the family farm where he was born, and the nearby village Agunnaryd. Ingvar is the 5th richest person alive, with a net worth of 53 billion dollars!

Source: omg-facts.com

B.N

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