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Founder Of IKEA Grew Up On A Farm, Started Selling Matches To Neighbors, Became One Of The Richest People In The World, But Kept A Simple Lifestyle And Showed Employees That Simplicity Is Worth More Than Status And Millionaires Can Also Live On Little Money
Imagine an elderly man practically “retired”, owner of a global empire like IKEA, listed among the richest people in the world, but who preferred to use public transportation, travel economy class, and wear clothes purchased from thrift stores. This is precisely the contrast that makes Ingvar Kamprad so fascinating: while many billionaires build their image on luxury and ostentation, he chose to live like an ordinary citizen, sending a clear message to employees and the entire market about what truly matters in a healthy business.
Even being the founder and leading IKEA, one of the largest furniture retailers in the world, Kamprad became a symbol of that type of elderly person who practically demonstrates that simplicity, coherence, and focus on purpose can be worth more than any luxury car in the garage.
Who Was The Elderly Founder Of IKEA Who Ended Up Among The Richest People In The World
Ingvar Kamprad was born in 1926, in a rural area of Sweden called Småland, and grew up on a farm, in an environment where working hard, saving, and making the most of every resource was practically a household rule.
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As a child, he started selling matches to neighbors and later other simple products, like seeds and Christmas cards, already showing an entrepreneurial instinct quite exceptional for someone so young.
In 1943, at just 17 years old, he founded IKEA, a name formed by the initials of his name (Ingvar Kamprad) along with references to the Elmtaryd farm and the village of Agunnaryd.
Over the following decades, this small initiative transformed into a global network present in dozens of countries, with millions of customers and thousands of employees, placing the “retired elderly man” in a financial position that would rank him among the richest people in the world according to various international rankings.
Even so, his lifestyle never matched the size of his bank account. While IKEA grew, Kamprad remained that discreet, almost anonymous elderly man who could go unnoticed in line at any popular restaurant.
The Simple Lifestyle Of A Billionaire Who Seemed Like A Common Retiree
Despite being a billionaire, Ingvar Kamprad did everything to live like an ordinary retiree, without ostentation or fuss.
He drove for years an old Volvo, a 1993 model 240, and only changed cars when it was really no longer possible to maintain the same vehicle.
Instead of private jets or first-class travel, he was known for traveling economy class, staying in simple hotels, and using money as rationally as possible.
In his day-to-day life, the elderly founder of IKEA had habits that have almost become legendary: he bought clothes at thrift stores, reused bags, and even reused tea bags, reinforcing the idea that waste, for him, was almost a sin.
There are reports that he would save salt and pepper packets from restaurants, always mindful of small expenses that, when added up, represented a mindset very much in line with IKEA’s business model.
This simple way of living was not merely shyness or a quirk: it was a conscious choice. In interviews, Kamprad emphasized that having money “is not a reason to throw resources out the window” and that he preferred to be seen as an ordinary old man, almost an anonymous retiree, rather than a celebrity surrounded by luxury.
One much-discussed episode recounts that he arrived by bus at an event where he was to be honored as “businessman of the year,” and because he seemed just like any other elderly man, the security guards almost didn’t let him in.
This kind of situation clearly shows how he really distanced himself from the traditional image of someone among the richest people in the world.
“Not Stinginess, But Principle”: What Kamprad Thought About Money, Consumption, And Freedom
All this behavior of the elderly founder of IKEA was not due to blind avarice, but rather a very clear philosophy about money, time, and freedom.
For him, each unnecessary expense took the company away from its true purpose: to offer quality products at accessible prices for the greatest number of people possible.
In one of his most well-known texts, the famous “Testament of a Furniture Merchant,” Kamprad wrote that “wasting resources is a mortal sin at IKEA,” making it clear that the way he lived and the way he led the business were completely connected.
He also stated that “it’s better to be a little frugal than to throw money out the window,” and that always flying first-class just to receive a glass of champagne made no sense if the goal was to keep prices low and the company strong.
His view on consumption was straightforward: spending only to appear to have status was losing direction. Money, for Kamprad, should be respected, just like time and personal freedom.
The true wealth, in practice, was in being able to live well without relying on excess, keeping room for choices, autonomy, and focus on what really matters.
He also insisted that the simple lifestyle was part of what made IKEA different. In one of his most famous phrases, he said: “Simplicity and humility characterize us in our relationships with others, with our suppliers, and with our customers.”
This idea of simplicity was not just visual, in design; it was a philosophy of life he carried through to the end.
How The Elderly Man From IKEA Inspired Employees With His Own Example
An essential point in Kamprad’s story is that he did not want to be just a distant icon among the richest people in the world; he wanted to be a practical example for IKEA employees.
He referred to them as “co-workers” and encouraged a more informal environment, with less hierarchy and more closeness, something that still appears today in the company’s official communication about its culture and values.
Kamprad made it clear that leadership, for him, was synonymous with coherence. In a famous quote, he said: “If there is good leadership, it is to set a good example. I have to be that for all the employees at IKEA.”
That is why he insisted on traveling economy class and required executives and managers to also control costs, reinforcing that every saving helped keep products accessible for “the many people,” as the company describes its official vision.
The internal culture at IKEA remains closely tied to these ideas. On official company pages, the vision is described as “creating a better everyday life for the majority of people,” connecting simplicity, low price, and positive impact in the real lives of customers and employees.
In a posthumous letter sent to the workers, Kamprad wrote that “the best way to grow and be happy is to learn from each other” and emphasized that he lived a fantastic life working with the best “co-workers” in the world.
In other words, the elderly founder of IKEA never wanted to be seen as a distant idol; he wanted employees to feel like they were part of something bigger, guided by concrete values and not by symbols of status.
Solid Companies Are Not Born From Status, But From Culture
Throughout the construction of IKEA, Kamprad proved in practice something that many leaders still ignore: solid companies are not born from status, but from culture.
Instead of investing in luxurious offices and exaggerated benefits for the upper echelons, the priority was to reinforce values like simplicity, customer focus, and cost responsibility.
IKEA grew with a very clear business idea: “to offer a wide variety of well-designed and functional home furniture products, at prices so low that as many people as possible can buy them.”
This required discipline at all levels, from the elderly founder to each new employee, so that everyday decisions would not betray this promise.
Today, even after Kamprad’s death, the group continues to speak openly about culture, values, and purpose in official documents, reinforcing themes like “team spirit,” “responsibility,” and the desire to “create a better world” through choices in design, production, and pricing.
This continuity shows how the ideas of an apparently “retired” elderly man, but extremely active in thought, continue to shape a global company with tens of thousands of employees.
To outsiders, it is clear that the wealth he championed was not solely financial. The true wealth, in Kamprad’s view, lies in building organizations where the behavior of leaders does not clash with the official discourse, and where employees can be proud of the culture they help sustain.
The True Wealth Of An Elderly Billionaire Who Chose To Live Simply
In the end, the story of Ingvar Kamprad is that of an elderly man who could have retired early surrounded by luxury, but chose to continue living as an ordinary person, even while being among the richest people in the world.
He showed that it is possible to have a gigantic business like IKEA without turning the company into a temple of personal vanity.
His life and choices leave a strong message for employees, leaders, and entrepreneurs: money and status are consequences, not objectives.
And that true wealth is not in what you flaunt, but in everything you don’t need to live well – including the freedom to say “no” to excess.
More than a case of business success, Kamprad became a global reference when it comes to organizational culture, leadership by example, and the responsible use of resources, whether from a large company or from the personal life of any retiree who just wants to live quietly and with dignity.
And now, what would you do with this worldview? After learning about the story of this elderly founder of IKEA, who was one of the richest people in the world but chose to live as a simple retiree to inspire his employees and keep his feet on the ground, I want to hear from you.
Do you think this lifestyle makes sense today, with so much encouragement toward consumption and ostentation? Leave your comment telling what caught your attention the most in Ingvar Kamprad’s journey and share this article with someone who needs to rethink their relationship with money, status, and simplicity.
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