RIP: Founder of Ikea Furniture, Ingvar Kamprad, Dies at 91

by Nayab

Ingvar Kamprad, the billionaire magnate who founded hit furniture chain IKEA, has died at the age of 91!

Ikea founder, Ingvar Kamprad, attends a prime event. (Source: Getty Images)

He founded the company at the age of 17, in the 1940s. The internationally acclaimed chain now has 412 stores in around 49 countries across the world!

Ikea founder Ingvar Kamprad. (Source: Getty Images)

The world’s best known retailer was named after his own initials. He also added the names of the place he grew up in, across the Swedish countryside.

An IKEA outlet in Germany. (Source: Getty Images)

IKEA sells flat-pack furniture that users have to put together from scratch. There are Billy shelves and Malm chests among other convenient items.

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IKEA’s signature minimalist style. (Source: Instagram)

He was described as being ‘one of the greatest entrepreneurs of the 20th century,’ by the official company statement.

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Another light minimalist setting. (Source: Instagram)

Kamprad suffered no pain and ‘peacefully passed away at his home’ on Saturday.

Mikael Ohlsson, President and CEO of Ikea Group admires in-store items. (Source: Getty Images)

Torbjörn Lööf, the chief executive and president of Inter Ikea Group, expressed his deep condolences, saying, “We are deeply saddened by Ingvar’s passing.”

Mikael Ohlsson, President and CEO of Ikea Group shows his pride in an outlet. (Source: Getty Images)

“We will remember his dedication and commitment to always side with the many people. To never give up, always try to become better and lead by example,” he added.

Mikael Ohlsson, President and CEO of Ikea Group. (Source: Getty Images)

The late founder didn’t have a managerial role in the company. Rather, he served as an expert adviser since 1988.

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A splash of pink against a minimalist setting. (Source: Instagram)

He was estimated to be one of the world’s richest and most influential people. He accumulated a mind-blowing fortune of 610 billion Swedish Kronor, or £54 billion, according to reports by the Swedish media.

Mikael Ohlsson, President and CEO of Ikea Group. (Source: Getty Images)

Kamprad had a reputation for being thrifty. He liked to penny pinch and could be found wearing secondhand clothes he bought at various flea markets.

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Cosy holiday design with IKEA. (Source: Instagram)

His clever spending habits moved IKEA to the top, according to him.

“It’s in the nature of Småland to be thrifty,” he said in an earlier documentary released in 2016. He was referring to an agricultural region in Southern Sweden where he was born.

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Powder blue setting with IKEA sofas. (Source: Instagram)

Nick Bubb, London-based retail analyst said, “He was famously mean, for someone so wealthy, but back in the 70s he certainly pioneered the concept of selling cheap but well-designed Scandinavian furniture to the mass market in warehouse stores.”

“And the global success of Ikea since then shows the power of the business model.”

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Minimalist aesthetic. (Source: Instagram)

The thrify businessman was married twice.

He moved to Denmark in 1973 and then shifted his operations to Switzerland to seek a lower tax bracket. He returned to Sweden in 2014.

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A warm holiday setting using IKEA furniture. (Source: Instagram)

Kamprad also previously faced questions about his involvement with Nazi groups. He admitted to the same in 1999 when he released a book about his life.

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Classic IKEA furniture. (Source: Instagram)

He called it ‘the biggest mistake’ of his life and apologized for his ‘stupidity’. He’d been attending meetings with Nazi groups between 1945 and 1948.

We hope he rests in peace and his legacy stays strong.



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