Ikea founder, billionaire Ingvar Kamprad dies at 91
Monday, 29 January 2018 11:14 WIB | MISCELLANEOUS |Global

Kamprad, the billionaire Swedish entrepreneur who founded Ikea when he was 17 and built it into one of the biggest furniture retailers in the world, died Sunday at 91.

Kamprad started Ikea on his family farm in 1943, and his frugality and work ethic were instilled into Ikea's corporate identity. Ikea now has about 400 stores worldwide, and posted about $39 billion in annual revenue in 2016, according to Statista. The company aims to generate $62 billion in annual revenue by 2020, Reuters reported.

Bloomberg™s Billionaires Index ranked Kamprad as the eighth-wealthiest person on the planet, with a fortune of $58.7 billion.

Source: Marketwatch

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