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From Home Furnishing Business

Sons of Ikea Founder Emerge as New Billionaires

The three sons of Ikea founder Ingvar Kamprad are following in their father's footsteps by becoming billionaires and remaining out of the limelight.

Ikea’s flagship store in Stockholm is the largest of the furniture retailer’s 349 outlets, a blue and yellow behemoth that lures shoppers into its 55,200 square-meter (600,000 square feet) building that’s big enough to accommodate 10 football fields.

The shop’s size and bright color scheme stand in contrast to Ingvar Kamprad, the company’s founder and Sweden’s richest man, who rarely gives interviews and lives modestly, shunning the “fancy cars, posh titles, tailor-made uniforms or other status symbols,” that he criticized in his manifesto for Ikea written in 1976.

His three sons, Peter, Jonas and Mathias, inherited their father’s predilection for privacy -- they’ve never given an interview to the media -- and his stake in Ikano Group, a collection of financial, real estate and retail assets that has made them billionaires.

Read Entire Story Source: Bloomberg 







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