Which Swedish billionaire founded the furniture retailer IKEA?

Ingvar Kamprad was the Swedish billionaire who founded the furniture retailer IKEA.

Kamprad founded IKEA in 1943, when he was 17, in Småland, Sweden. The business began as a mail-order operation selling assorted goods; furniture became its focus in 1948. IKEA opened its first store in Älmhult in 1958.

The name IKEA is built from Kamprad’s initials, the family farm Elmtaryd, and Agunnaryd, the nearby village where he grew up. The company’s ready-to-assemble furniture, flat-pack shipping, room displays, and cost-conscious design helped it expand internationally.

Kamprad was also known for personal frugality, but his wealth was complicated by IKEA’s foundation-based ownership structure. A common mix-up is naming Stefan Persson or Erling Persson, Swedish retail billionaires associated with H&M, rather than IKEA’s founder.