The Billionaire Who Lived Like a Regular Person: Inside the Life of Ingvar Kamprad

When you think of billionaires, you probably picture private jets, sprawling mansions, and luxury cars. But Ingvar Kamprad, the founder of IKEA and one of the wealthiest men in the world, had a different approach. Despite amassing a fortune worth tens of billions, Kamprad lived a life that most would consider shockingly frugal. From flying economy class to driving an old Volvo, his commitment to simplicity was legendary. But was this just eccentricity, or was there a deeper philosophy behind his lifestyle?

A Modest Beginning That Shaped His Mindset

Ingvar Kamprad was born in 1926 in Pjätteryd, Sweden, and grew up on a farm in a rural community. His early years were far from luxurious, and he learned the value of money from a young age. At just five years old, he was already selling matches to neighbours, and by the time he was a teenager, he had expanded his small business to include fish, Christmas decorations, and stationery.

This entrepreneurial spirit eventually led him to create IKEA in 1943 when he was only 17. What started as a mail-order business selling household goods quickly evolved into the global furniture empire we know today. But despite the meteoric rise of his company, Kamprad never allowed himself to embrace the lavish lifestyle that so many business magnates adopt.

The Billionaire Who Drove an Old Volvo

Kamprad was notorious for his cost-cutting habits. Even when his net worth soared into the tens of billions, he continued to drive a decades-old Volvo 240. He reportedly refused to buy a new one until it was deemed unsafe to drive.

His personal travel habits were equally unassuming. He flew economy class, used public transport whenever possible, and often stayed in budget hotels. When visiting IKEA stores, he would eat in the company canteen, enjoying the same affordable meals as his employees and customers. He even admitted to pocketing salt and pepper packets from restaurants to save money.

IKEA’s Frugality Wasn’t Just for Show

Kamprad’s personal frugality extended into the very DNA of IKEA. The company became famous for its flat-pack furniture, which reduced manufacturing and transportation costs, making stylish furniture accessible to people worldwide. He encouraged cost-consciousness at every level of the business, famously saying, "Wasting resources is a mortal sin at IKEA."

To cut down on expenses, IKEA designers were challenged to find ways to lower production costs without sacrificing quality. This resulted in iconic pieces like the Billy bookcase, which remains one of the world’s best-selling pieces of furniture. Kamprad believed that by keeping costs low, both the company and the customer benefited.

A Simple Life with a Big Impact

Despite his extreme frugality, Kamprad was far from greedy. He established the IKEA Foundation, a charitable organisation dedicated to supporting children’s education and sustainable development. He also moved IKEA’s ownership structure into a complex system of foundations, ensuring that the company’s profits were reinvested rather than lining the pockets of shareholders.

His philosophy was simple: excess wealth was unnecessary. He once stated, "It is not only for cost reasons that we avoid waste. It is a question of attitude." His belief in efficiency, humility, and accessibility shaped not only his business empire but also the way people furnish their homes across the world.

The Legacy of an Unconventional Billionaire

Ingvar Kamprad passed away in 2018 at the age of 91, but his legacy lives on in every IKEA store, product, and flat-packed box. While other billionaires build towering skyscrapers with their names on them, Kamprad’s mark is in the millions of homes where an IKEA chair or table stands as a testament to his vision.

His life proves that success doesn’t have to come with extravagance. In an era where the ultra-wealthy flaunt their riches, Kamprad’s humble approach is a refreshing reminder that, at the end of the day, simplicity can be just as fulfilling as luxury.