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The Founder of Ikea Says He Only Wears Second-Hand Clothes

Swedish Chamber of Commerce Celebrates 100 years in the UKSwedish Chamber of Commerce Celebrates 100 years in the UK
Check out those threads. Photograph by Chris Jackson—Getty Images

This article is published in partnership with Time.com. The original version can be found here.

By Mark Rivett-Carnac @mrivettcarnac

Extreme frugality 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 estimate.