Swedish billionaire ‘buys all his clothes at flea markets’

He may be the founder of Ikea. But frugal billionaire Ingvar Kamprad has revealed he buys his clothes at flea markets to save money, in a documentary being broadcast on Swedish television.

Kamprad, who turns 90 on March 30th, already has a reputation for penny-pinching, which he claims helped Ikea to become one of the world’s top brand names.

“I don’t think I’m wearing anything that wasn’t bought at a flea market. It means that I want to set a good example,” he told Swedish channel TV4, according to business daily Dagens Industri which viewed the documentary ahead of its release on Wednesday evening.“It’s in the nature of Småland to be thrifty,” he said, referring to Sweden’s south-eastern agricultural region where he comes from and where he first started his now global furniture empire. Kamprad is estimated to have an accumulated fortune of about 610 billion kronor ($72 billion), according to recent Swedish media reports. But it is difficult to separate what belongs to him, his children and what is held in a family foundation in one of Europe’s most infamous tax havens, Liechtenstein.

-more at The local

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