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IKEA founder Ingvar Kamprad dead at 91

He had an estimated net worth of $58.7 billion.


Kris Seavers


Published Jan 28, 2018   Updated May 22, 2021, 3:07 am CDT

Ingvar Kamprad, founder of the international furniture empire IKEA, has died at age 91, Fortune reported Sunday.

“One of the greatest entrepreneurs of the 20th century, Ingvar Kamprad, has peacefully passed away at his home in Smaland, Sweden, on Jan. 27,” IKEA said a statement emailed to Fortune on Sunday. The statement said Kamprad was “surrounded by his loved ones” and died “following a short illness.”

Kamprad reportedly had an estimated net worth of $58.7 billion, according to the Bloomberg Billionaires Index, and was ranked as the world’s eighth-richest person.

In addition to the Swedish furniture chain, Krampad also founded a bank for IKEA customers called Ikano.

IKEA has revolutionized the industry by producing furniture that’s affordable and easy to transport. Whether it’s easy to assemble is another matter entirely, and following Krampad’s death, several people on Twitter made the same light-hearted joke poking fun at the difficulty of building an IKEA piece.

H/T Fortune

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*First Published: Jan 28, 2018, 10:23 am CST