The founder of Swedish “Ikea” furniture chain has died aged 91

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The wealth was accumulated by producing furniture for the masses that was affordable and easy to transport. Kamprad started IKEA in 1943/ “We are mourning the loss of our founder and dear friend Ingvar,”chief executive officer of the Ikea Group, Jesper Brodin, said. He had a modest existence, driving an old Volvo, recycling tea bags and taking home little packets of salt and pepper from restaurant visits. A former assistant of Kamprad, said in a phone interview on Sunday that the billionaire “started as a 17-year-old with two empty pockets, but a ton of entrepreneurship.

IKEA

In 2017, 403 Ikea stores in 49 countries received 936 million visitors, and the chain generated sales of 38.3 billion euros ($47.6 billion). At his death, Prime Minister Stefan Lofven said his country had lost a “unique entrepreneur who meant a lot to Sweden’s business community.” Mr Kamprad’s name has been used more than 32,000 times on Twitter since news of his death emerged.Prominent Swedish politicians were among those leading the tributes online.

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