Ingvar Kamprad is the founder of IKEA. His net worth is $23 billion.
Swede Ingvar Kamprad began with two empty hands to become one of the richest people in the world.
The Swedish furniture-maker prefers to live simply. Kamprad is one of the richest people in Europe, but you wouldn’t know it when flying next to him in economy class or eating lunch with him in Ikea’s cafeteria. He calls his employees ‘co-workers’ and encourages everyone to dress informally. He stays in cheap hotels. He drives a 15-year-old Volvo. His home in Switzerland was decorated mostly with inexpensive IKEA furniture.
Ingvar Kamprad still flies economy and often rides the bus. Arriving at a gala event to receive a Businessman Of The Year Award, he was at first refused entry by security because he had come off the bus. The security guard thought that it wasn’t really Mr. Kamprad; rather it was someone who pretended to be him so he could enter the gala since how could a rich man like Ingvar Kamprad ride a bus?
Rather than dining in expensive restaurants, he likes to drop in to one of his stores for a cheap meal of his favorite Swedish meatballs. Kamprad and his wife are often seen eating in inexpensive restaurants and haggling over prices at the market.
He prefers to do his shopping in the local market (always near closing time when vendors are more likely to drop their prices). Dressed in his scruffy coat, one would assume he was just another elderly man living on a tight budget rather than the fifth wealthiest entrepreneur in the world.
That is just how Ingvar Kamprad likes it. He regards luxury not merely as an indulgence but almost as a sin. In his memoir he wrote:
“We don’t need flashy cars, impressive titles, uniforms or other status symbols. We rely on our strength, and our will!”