Ingvar Kamprad Net Worth $43.2 billion
Ingvar Kamprad salary $1,500,000,000
Ingvar Kamprad Net Worth: How rich is Ingvar Kamprad? & How much money is Ingvar Kamprad worth? Time to find out!
Ingvar Kamprad is a Swedish business magnate and his current net worth is $43.2 billion.
Born in Pjätteryd, now part of Älmhult Municipality, Sweden to Frans Feodor Kamprad, a German immigrant, and Berta Linnea Matilda Nilsson, he grew up on the farm Elmtaryd.
As a young boy, he started to develop a business, selling matches to neighbors from his bicycle. It all started after he realized he could buy matches in bulk at a cheap price from Stockholm and sold them individually at a low price, but for a good profit.
From matches it was only a matter of time until he expanded to selling fish, Christmas tree decorations, seeds, and later ballpoint pens and pencils.
At the age of 17 his father game him a cash reward for succeeding in his studies.
How did Ingvar Kamprad get famous?
In 1943 he founded IKEA at his uncle Ernst’s kitchen table. In its early days the business included mostly mail-order, and since 1948 it included furniture.
The name for his business IKEA, comes from the initials of his name, plus those of Elmtaryd, the family farm he grew up at, and the nearby village Agunnaryd.
How does Ingvar Kamprad make money?
After he stepped down as chairman of the holding company, Inter IKEA Holding SA, he left his youngest son, Mathias Kamprad as CEO.
Mathias and his two older brothers, who also have leadership roles at the company, work on the corporation’s overall vision and long-term strategy.
Ingvar is the chairman of the Stichting INGKA Foundation, named after him, owns INGKA Holding, the parent company of all IKEA stores.
As of today he still retains little direct ownership in the company, with his interest transferred to Stichting INGKA Foundation and INGKA Holding, as part of a complex tax sheltering scheme.
In 2013, Forbes named Ingvar Kamprad as the 11th richest person in the world, with a net worth estimated at $23 billion.
Since then, his net worth dropped significantly a year later. At the time, his lawyers produced documents proving that the foundation he heads, owns IKEA, and that its bylaws bar him and his family from benefiting from its funds.
As a result, he fell to 162nd position in the Forbes’ list.
He is the owner of a villa in Switzerland, a large country estate in Sweden as well as a vineyard in Provence, France.
He has also driven a Porsche for several years now.
In the 1960s, Kamprad married his second wife, Margaretha Kamprad-Stennert, who died in 2011. They had three sons: Peter, Jonas and Mathias.
After his death, his sons will inherit a substantial minority stake in IKEA estimated at $1.5 billion. While his adopted daughter, Annika will receive approx. $300,000.