Sweden's richest businessman, with a fortune recently estimated by the Swedish press at 65 billion euros, Kamprad died.
Ingvar Kamprad, founder of the IKEA, died at the age of 91 after a short battle with a heavy disease. The announcement was made public by the tycoon company, writes RT.
His company's representatives describe him as "the greatest entrepreneur of the 20th century." From the first information, the billionaire died in his residence in Smaland, writes BBC.
The poor life of a billionaire
"I do not think I ever wore clothes that had not been bought in second hand. I want to give a good example... " Ingvar Kamprad explained in a documentary that was broadcast by the Swedish TV4 channel.
Kamprad has created the reputation of a money-saving billionaire. Despite his huge fortune, he is known as a rather stingy person. He preferred to take the metro to work, and the car he was driving was an old Volvo, according to reports from the Swedish press.
In 2012, he came to the media's attention after saying that a 22-euro bill for a haircut in the Netherlands exceeded his planned budget and that he likes to cut his hair in developing countries like Vietnam.
Kamprad began to make money from commerce as early as adolescence when, riding a bicycle began selling matches, continued with pens, Christmas cards and fish.
In 1943 he founded IKEA at the age of 17 and began selling various consumer goods such as pens, wallets, picture frames, tablecloths, or watches. It was only in 1947 that he started selling furniture. In the 1970s he moved to avoid taxes from Sweden in Denmark, and then in the Swiss town of Epalinges, but from 2014 he returned to Sweden.
Since 2010, Ingvar Kamprad has gradually withdrawn from the company's helm to make room for his three sons.
Ingrad is also said to have been a member of the pro-fascist movement in Sweden in 1942. It is also the reason why he doubled his charity's donations to almost £ 100 million and asked his employees to forgive him.
A former assistant executive, Johan Stenebo, wrote in a book about Kamprad that he considered Ingvar a man of the people, a former dyslexic and slightly stupid alcoholic. However, Stenebo points out, he remains an incredibly clear man with a sharp mind, careful to the smallest detail.