--- description: Billionaire Ikea founder Ingvar Kamprad stocks his wardrobe with second-hand clothes. He says penny-pinching helped Ikea's success. title: Billionaire Ikea Founder Wears Second-Hand Clothes image: https://static.time.com/v3/assets/bltea6093859af6183b/blt0849f29e5e8ecd38/69888a6bcf40a81517c4258a/rtxoevz.jpg?branch=production&width=3840&quality=75&auto=webp&crop=16:9 ---  * [Newsfeed](/tag/time-section-newsfeed/) ## Newsfeed Update your preferences in [Account Settings](/account/preferences/) Close # The Billionaire Who Founded Ikea Is So Frugal He Only Wears Second-Hand Clothes by [Mark Rivett-Carnac](/author/mark-rivett-carnac/) ## Mark Rivett-Carnac Update your preferences in [Account Settings](/account/preferences/) Close Mar 10, 2016 4:21 AM CUT  Swede Ingvar Kamprad, founder of furniture retail chain IKEA, announces a donation to Lausanne's Cantonal School of Art during a news conference in Lausanne, Switzerland, March 20, 2006 Swede Ingvar Kamprad, founder of furniture retail chain IKEA, announces a donation to Lausanne's Cantonal School of Art during a news conference in Lausanne, Switzerland, March 20, 2006STR New/Reuters by [Mark Rivett-Carnac](/author/mark-rivett-carnac/) ## Mark Rivett-Carnac Update your preferences in [Account Settings](/account/preferences/) Close Mar 10, 2016 4:21 AM CUT Extreme [frugality](http://www.afp.com/en/news/ikeas-billionaire-founder-frugal-fan-flea-markets "undefined") is the secret to untold wealth, if the habits of billionaire Ikea founder Ingvar Kamprad are anything to go by. The mogul is so thrifty, he stocks his wardrobe with second-hand clothes. “I don’t think I’m wearing anything that wasn’t bought at a flea market,” Kamprad says in an upcoming documentary for Swedish television, according to Agence France-Presse. He also prefers cheap haircuts, explaining in a 2008 interview with Swedish newspaper _Sydsvenskan_:“Normally, I try to get my haircut when I’m in a developing country. Last time it was in Vietnam.” Kamprad, who turns 90 on March 30, said penny-pinching helped Ikea’s success. It probably also helped him amass a fortune worth more than $40 billion, according to a [Bloomberg](http://www.bloomberg.com/billionaires/profile/ingvar-kamprad "undefined") estimate. \[[_AFP_](http://www.afp.com/en/news/ikeas-billionaire-founder-frugal-fan-flea-markets "undefined")\] ```json [{"@context":"https://schema.org","@type":"NewsArticle","@id":"https://time.com/4253546/ingvar-kamprad-ikea-billionaire-frugal-clothes/","mainEntityOfPage":{"@type":"WebPage","@id":"https://time.com/4253546/ingvar-kamprad-ikea-billionaire-frugal-clothes/"},"headline":"The Billionaire Who Founded Ikea Is So Frugal He Only Wears Second-Hand Clothes","datePublished":"2016-03-10T04:21:47.000Z","dateModified":"2026-04-13T07:30:51.287Z","description":"Ingvar Kamprad is worth more than $40 billion","url":"https://time.com/4253546/ingvar-kamprad-ikea-billionaire-frugal-clothes/","keywords":["Newsfeed","Business topic","Ikea","Billionaire","Clothes"],"thumbnailUrl":"https://static.time.com/v3/assets/bltea6093859af6183b/blt0849f29e5e8ecd38/69888a6bcf40a81517c4258a/rtxoevz.jpg?branch=production&width=1200&quality=75&auto=webp&crop=1200:675&height=675","author":[{"@type":"Person","name":"Mark Rivett-Carnac","jobTitle":null,"url":"https://time.com/author/mark-rivett-carnac/"}],"articleSection":"","image":[{"@type":"ImageObject","url":"https://static.time.com/v3/assets/bltea6093859af6183b/blt0849f29e5e8ecd38/69888a6bcf40a81517c4258a/rtxoevz.jpg?branch=production&width=1200&quality=75&auto=webp&crop=1200:675&height=675","width":1200,"height":675,"headline":"Swede Ingvar Kamprad, founder of furniture retail chain IKEA, announces a donation of 500'000 Swiss ..","caption":"Swede Ingvar Kamprad, founder of furniture retail chain IKEA, announces a donation of 500'000 Swiss ..","creditText":"STR New/Reuters","representativeOfPage":true}],"publisher":{"@type":"Organization","name":"Time","url":"https://time.com/","logo":{"@type":"ImageObject","url":"https://time.com/images/logo.png","width":528,"height":156},"foundingDate":"March 3, 1923","sameAs":["https://www.facebook.com/time","https://www.instagram.com/time/?hl=en","https://twitter.com/time","https://www.pinterest.com/timemagazine"]}},{"@context":"https://schema.org","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"item":{"@id":"/tag/time-section-newsfeed/","name":"Newsfeed"}},{"@type":"ListItem","position":2,"item":{"@id":"https://time.com/4253546/ingvar-kamprad-ikea-billionaire-frugal-clothes/","name":"The Billionaire Who Founded Ikea Is So Frugal He Only Wears Second-Hand Clothes"}}]}] ```