Ingvar Kamprad, Founder Of IKEA, Is Only Willing To Spend 12 Yuan On His Haircut.

08, 23, the 81 year old man looks like a "poor man" who barely lives on pension, wearing a faded coat, a pair of worn shoes and an old-fashioned glasses.

And his real identity is Sweden.

A miserly millionaire

Kamprad now ranks the world at about US $31 billion 400 million.

Kamprad's hometown has recently built a statue of Kamprad.

When attending the ribbon cutting ceremony, Kamprad folded the ribbon in good order and handed it to the mayor, telling him that the ribbon could still be used.

When I was attending a business party not long ago, Kamprad was stopped by security guards because they saw Kamprad coming down from a bus.

The billionaire even promoted his "miserly" trip to London.

There he traveled by bus or subway.

Kamprad is proud to say that he fired the barber who served him for years, because the new barber only charged 12 dollars each time.

In the face of the outside world's "stingy" voice, Kamprad said, "I am a little mean, but so what?"

Frugal life

Perhaps in order to cooperate with IKEA's simple cultural ideas, Kamprad has always been frugal or even a poor life.

Kamprad and his wife Margarita live in a common villa in Sweden and live a semi retired life.

Kamprad gave IKEA three sons to run together because he did not want any son to monopolized the power.

Mr. and Mrs. Kamprad often visit cheap restaurants, buy food in the local market when afternoon food prices are reduced, and bargain with small traders like ordinary people.

Even the furniture in his home, Kamprad was scouring back in the IKEA store.

Kamprad said that whenever he spends money, he will ask himself whether IKEA's customers can afford it too.

"If I start to pursue luxurious life, I will only let others follow suit.

As a leader, setting an example is very important, "he said.

Promising prospects

In 1943, when Kamprad was 17 years old, he set up a shop called Ikea, known as IKEA today.

"I" and "K" are taken from the first letter of his name. "E" and "a" are taken from the family farm of elmtad (Elmtaryd) and the nearby village of Reed (Agunnaryd).

Kamprad founded the first IKEA store in 1965.

However, a strong wind smashed the neon lights in the shopping mall, and the resulting fire destroyed the entire shopping malls.

This unfortunate opening did not affect IKEA's expansion. IKEA has now developed into a pnational home giant with an annual turnover of nearly US $18 billion.

IKEA's idea of "flat package" has swept many British families since it landed in the UK market 21 years ago.

Although relatively few branches, IKEA has become one of the four largest retailers in the UK furniture market.