Ikea’s billionaire founder is incredibly frugal in some shocking ways

Ingvar Kamprad - Frugal living as a billionaire

Ikea’s founder Ingvar Kamprad is one of the richest people in the world with a net worth of $39.3 billion.

Despite his massive wealth, Kamprad is well-known for his incredibly frugal lifestyle.

While Kamprad could go out and buy a new Ferrari every day of his life. He chooses instead to lead by example, spending as little money as possible.

The Local Se reports that Kamprad loves to shop for his clothes and household items at flea markets.

“I don’t think I’m wearing anything that wasn’t bought at a flea market. It means that I want to set a good example,” he said in the television special on TV74. “It’s in the nature of Smaland to be thrifty.”

Smaland is the children’s mini-playground in Ikea stores.

His frugality doesn’t end there. He is well known for eating the famous Swedish meatballs at Ikea, and he has been known to take home salt and pepper packets from Ikea’s cafeteria.

When he flies the famed billionaire chooses economy class over a more expensive first class experience.

Frugality among the world’s richest men and women isn’t isolated to Ikea’s billionaire founder. Facebook CEO Mark Zuckerberg and Berkshire Hathaway founder Warren Buffett are among many of today’s frugal billionaires.

Written by Katie Henderson

Katie Henderson

Katie Henderson is the Strategy editor at Business Pundit. She writes articles that help business owners, executives, and employees better understand how to run a business and work as effective employees.