Saturday, July 10, 2004

The way business should be run !

Ingvar Kamprad
77 , self made

Source: Ikea
Net Worth: $18.5 bil
Country of citizenship: Sweden
Residence: Lausanne, Switzerland
Industry: Retailing

Founded $14.3 billion (sales) furniture chain Ikea in 1943; the Swede still runs the show from tax-haven Switzerland. Despite 186 stores in 31 countries—11 new ones in the last year including five in North America—Ikea achieved a modest 3% increase in sales in Fiscal Year 2003. His three sons work at Ikea and one will eventually be named successor. He flies economy, avoids wearing suits and drives a ten-year old Volvo. Said to shake the hands of all 1,000 employees who attend company's annual meeting. Kamprad derives his wealth not only from the stores but also from ownership of most of the land Ikea stores sit on.



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