Ingvar Kamprad, the billionaire Swedish founding father of worldwide furnishings large IKEA, has died.
He was 91.
Kamprad based IKEA in 1943, when he was simply 17 years outdated. The corporate’s identify is an acronym combining his initials with the primary letters of the farm and village in Sweden the place he grew up.
The corporate confirmed his loss of life in a Swedish-language tweet posted early Saturday and translated by Expressen.
One of the crucial profitable entrepreneurs in Sweden’s historical past, Kamprad ranked as excessive as fourth on Forbes’ annual listing of the world’s wealthiest folks in 2006.