Swedish Billionaire Ingvar Kamprad – Photo: Reuters

A new documentary on Swedish TV channel TV4 about Billionaire Ingvar Kamprad, the founder of leading Swedish furniture retailer Ikea, highlights his frugal nature. Kamprad shares that frugality is what made Ikea one of the top brands.

The Guardian reports that in the documentary, billionaire Kamprad reveals that he buys clothes at flea markets to save money.

“I don’t think I have any piece of clothing that wasn’t bought at a flea market. It means that I want to be a good role model. The essence of a Smålander is to be thrifty,” the billionaire, who turns 90 on March 30, says. Småland is an agricultural region in southern Sweden and Kamprad’s hometown.

Swedish media have previously highlighted Kamprad’s frugal spending habits. In 2008, he told Sydsvenskan that a €22 ($24) haircut in the Netherlands broke his hair-cutting budget.

“Usually, I try to get my hair cut when I’m in developing countries. The last time I got my hair cut was in Vietnam,” Kamprad says.

In 2006, Forbes ranked him as the fourth-richest person in the world. Bloomberg estimated his net worth at around $43.2 billion as of June 2015. Recent reports in Swedish media suggest that he has SEK 610 billion ($89.7 billion).

The Ikea founder left Sweden for Denmark in 1973 to find a place with lower taxes before moving to Switzerland. He returned to his home country in 2014. Since 2010, the nearly 90-year-old billionaire has been gradually retiring and handing over the reins to his three sons.