Ingvar Kamprad, a Swedish entrepreneur who hid his fascist past and became one of the world’s richest men by turning simply-designed, low-cost furniture into the global Ikea empire, died on Saturday at his home in Smaland, Sweden. He was 91.
His death was confirmed by the company in a statement on Sunday.
He grew up on a farm in the lake-dotted province of Smaland, in southern Sweden, a dyslexic boy who milked cows and found it hard to concentrate in school. His family was poor, and he earned money selling matches and pencils in villages. At 17, he registered his mail-order business in household goods, calling it Ikea, formed of his initials and those of his farm, Elmtaryd, and village, Agunnaryd.
Over the next seven decades, Mr. Kamprad built Ikea into the world’s largest furniture retailer — an archipelago of more than 350 stores in 29 countries across Europe, North America, the Caribbean, the Middle East and Asia, with sales of 38.3 billion euros ($47.6 billion), more than 930 million store visits and 210 million recipients of catalogs in 32 languages.
It made him wealthy beyond imagining. Bloomberg Billionaires Index listed him as the world’s eighth-richest person, worth $58.7 billion. But his driving ambition led to alcoholism, years of fascination with fascism and, trying to lead his employees by example, into a life of almost monastic frugalities.