In addition to cutting hair in Vietnam, Swedish billionaire Ingvar Kamprad, founder of furniture giant Ikea, also buys second-hand clothes or at flea markets to save money.
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The latest documentary on Sweden’s TV4 channel about billionaire Ingvar Kamprad, the founder of leading Swedish furniture retailer Ikea, reveals his thrifty nature. Kamprad believes that frugality is the factor that has made Ikea one of the top brands.
The Guardian reports that in the documentary, Kamprad reveals that he buys clothes at flea markets to save money.
“I don’t think I have any clothes that weren’t bought at flea markets. This shows that I want to be a good example. The essence of a Smaland person is to save,” said the billionaire, who will turn 90 on March 30.3. Smaland is an agricultural region in southern Sweden and is Kamprad’s hometown.
Kamprad’s frugal spending habits have been mentioned in several newspapers. In 2008, he shared with Sydsvenskan that a 22 EUR haircut bill in the Netherlands had exceeded his haircut budget.
“Usually I try to get a haircut when I’m in developing countries. The last time I got a haircut was in Vietnam,” Kamprad said.
In 2006, Forbes magazine ranked him the fourth richest person in the world. His fortune, estimated by Bloomberg news agency at around 43.2 billion USD in June 2015. Swedish media recently reported that he had 610 billion Swedish kronor, equivalent to 89.7 billion USD.
Ikea’s founder left Sweden for Denmark in 1973 to find lower taxes before moving to Switzerland. In 2014, he returned to his homeland. Since 2010, the billionaire, who is about to turn 90, has been gradually retiring, handing over to his three sons.
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