This billionaire flew economy and took free salt packets despite his wealth
IKEA founder Ingvar Kamprad was known for his extreme frugality despite his massive wealth, often shopping at flea markets and flying economy class. His lifestyle was rooted in the values of his upbringing in rural Sweden, which eventually influenced the corporate culture of IKEA.
Why it matters
The story provides a unique perspective on leadership and corporate culture, contrasting the typical image of billionaire excess with a philosophy of resource efficiency.
Ingvar Kamprad built one of the world's biggest furniture brands, but his personal life looked very different from what many would expect of a billionaire.The IKEA founder, whose fortune was once estimated at $58.7 billion, was known for living simply. He bought clothes from flea markets, drove an old Volvo, flew economy class and even took home free packets of salt and pepper from restaurants.Kamprad, who died in 2018 at the age of 91, often said his lifestyle was shaped by the values he grew up with in southern Sweden. Even after turning IKEA into a global business, he continued to believe that spending money carefully was the right way to live.In a 2016 documentary on Sweden's TV4, he said, "I don't think I'm wearing anything that wasn't bought at a flea market. I want to set a good example."His frugal habits went beyond buying second-hand clothes.
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in