Billionaire Ingvar Kamprad, who founded IKEA from his family farm at 17, has died, aged 91

One of Sweden’s most legendary entrepreneurs, the founder of Ikea, has died.

Ingvar Kamprad was born in 1926 in Småland, Sweden, and founded Ikea already as a teenager.

“Ingvar Kamprad has quietly passed away at his home in Småland. [..] Ingvar will be dearly missed and warmly remembered by his family and by Ikea colleagues all over the world.”

Kamprad was just 17 when he founded Ikea in 1943 in Småland, in southern Sweden. The company started by selling christmas cards and pens via mail order. In 2016, Ikea had reached a turnover of 354 billion krona ($US45 bn). The furniture chain’s global success made Kamprad Sweden’s richest individual.

Kamprad left his operative role at Ikea in 1988, but has continued to support the company in an advisory role.

“We mourn our founder and our dear friend Ingvar. His legacy will be admired for many years to come and his vision – to create a better everyday life for the many – will continue to guide and inspire us,” said Jesper Brodin, the CEO of Ikea Group.

Andrews Wiklund/AFP/Getty ImagesTove Laxvik, an IKEA employee, signs a book of condolences at the entrance of an IKEA store in Stockholm after founder
Ingvar Kamprad died on Sunday.

NOW READ: IKEA founder Ingvar Kamprad is a self-made billionaire who drives a 20-year-old Volvo

NOW WATCH: Briefing videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.


Tagged In

ikea ingvar kamprad