How did a self-made billionaire Ingvar Kamprad get his riches?
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There are not that many people who do not know or have never heard about Ingvar Kamprad, as he is the billionaire that founded IKEA. Born on March 30, 1962, he is now known as not just the founder of IKEA but also as a Swedish business magnate. However, it is quite obvious that the reason why we all know and love Ingvar Kamprad is that he made one of the largest furniture stores today, and that store has been alive and attracting loads of people for over 70 years.
Even as a small kid, Ingvar Kamprad was always searching for new ways he can earn a profit. He once stated that it all began when he found out that you can buy a bulk of matches for a very low price. After he bought them, Ingvar Kamprad decided to sell them for a higher price than what he paid for, but a much lower price than the one that is currently on the market. However, he did not stop there, as Ingvar Kamprad started purchasing many different items and selling them for a higher profit.
Currently, Ingvar Kamprad’s net worth is over $48. Billion and he is known as one of the richest men in the world who made his own profit. Even today, Ingvar Kamprad remains inherently simplistic, boldly innovative and incredibly wealthy. As you could read above, from the humble beginning where he sold match boxes, to the millions and billions that he has made today. Many people have wondered how did he make IKEA so fascinating and addictive, and in this article, you will get to read all of the juicy parts about the history and making of his billions.
Ingvar Kamprad was born in the south of Sweden, and it was by the age of 5 that he first began to make his own profit. Later, when he was 10-years-old, he made money by driving his bike around the neighborhood while selling Xmas decorations, pencils and fish. When he was seventeen, Ingvar Kamprad was doing so well in school, that his dad gave him a ‘money’ reward because of his good grades. He then used that money to found IKEA in 1943, however, at first IKEA was selling small household items like picture frames. After 5 years into the business, he ended up introducing furniture to the people.
The name IKEA, is actually an acronym from various areas. The first two letter represent his first and last name, then the initials of the family farm where he was born and where he grew up, together with the first letter of the nearest village. Ingvar Kamprad was the first one who introduced “flatpacking”, an ability to purchase furniture in parts and assemble it at home. Ingvar Kamprad is a father to three biological sons, who have a part in his business and an adopted daughter. He was always a family man, and he earned his billions with a lot of hard work, and we hope that IKEA will just keep blooming for the years to come!