The founder of IKEA, Ingvar Kamprad, was so frugal that he would regularly pocket salt and pepper packets at restaurants, reuse teabags, and drove a 1993 Volvo. He was worth $58.7 billion at the time of his death.
The IKEA effect makes people think anything they make themselves has increased value.
Ikea ran a print advert which you urinated on, and if you were pregnant it gave you a 50% discount on a crib.
Ikea’s founder, the late billionare Ingvar Kamprad, was incredibly frugal: He disciplines his employees for not using both sides of the paper. He was once turned away from Businessman Of The Year Award for arriving by bus, and assembled all his furniture himself.
IKEA is legally a “nonprofit” organization — a designation which dramatically reduces its tax burden — despite reported global sales of €26bn (≈$28B) annually.
The IKEA HQ in Delft, Netherlands had to stop offering their €1,- breakfast during the weekends because the highways couldn’t handle the traffic it attracted.
There is a cognitive bias called the IKEA effect, in which people “place a disproportionally high value on products they partially created.”