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Monday, January 29, 2018

The founder of IKEA has died (he was known as the world's thriftiest billionaire)

The founder of IKEA has died (he was known as the world

IKEA founder Ingvar Kamprad, who was worth $40 billion by some estimates, has died aged 91.

Kamprad died on Saturday at his home in Smaland, in southern Sweden, the chain's Swedish unit, IKEA Sverige, said on Twitter on Sunday. He died peacefully following a short illness, it said.

"He will be much missed and warmly remembered by his family and IKEA staff all around the world," the company said.

"Ingvar Kamprad was a great entrepreneur of the typical southern Swedish kind, hardworking and stubborn, with a lot of warmth and a playful twinkle in his eye," IKEA said in a press release.

The Swedish entrepreneur was notorious for having been almost comically thrifty. He was known to be frugal in all he did, including buying his clothes at flea markets. There are also reports that he always waited until he was traveling in third world countries to get a haircut, so it would be cheaper.

Other ways his frugality played out include reports that he had planned to leave only about $300,000 of his fortune to his adopted daughter (reportedly , she said she was fine with that). He also drove a 1993 Volvo 240 (although he reportedly also had a Porsche). He left Sweden for Switzerland in the 1970s to avoid paying his home country's high taxes. He often ate cheap meals at IKEA.

It should be noted that Kamprand also claimed that he was worth far less than the $40 billion Bloomberg attributed to him, or even the $5 billion Forbes said he had--although that was apparently in the context of fighting his tax bill. One report said he claimed to have about $118 million.

Kamprad's life story is intimately linked to the company he founded at age 17 on the family farm. Kamprad, who was born on March 30, 1926, was a precocious entrepreneur who sold matchboxes to neighbors from his bicycle. He found that he could buy the matchboxes in bulk very cheaply from Stockholm and sell them at a low price but still make a good profit. From matches, he expanded to selling fish, Christmas tree decorations, seeds and later ballpoint pens and pencils.

He soon moved away from making sales calls and began advertising in local newspapers and operating a makeshift mail order catalog. He distributed his products via the local milk van, which delivered them to the nearby train station.

In 1950, Kamprad introduced furniture, pieces produced by manufacturers in the forests close to his home, into his catalog. After the positive response he received, he decided to discontinue all other products and focus on low-priced furniture.

Kamprad started IKEA in 1950, expanding the small retail operation he'd set up in his hometown of Smaland, Sweden via mail order--and adding furniture that would be shipped to customers' homes and assembled in order to keep prices low.

"It is in the nature of Smaland to be thrifty," Kamprad said in an interview a few years ago, celebrating his 90th birthday. "I don't think I'm wearing anything that wasn't bought at a flea market."
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Chude Jideonwo launches Joy, Inc., a revolutionary new company with a simple mission to ‘spread happiness across Africa'

Chude Jideonwo launches Joy, Inc., a revolutionary new company with a simple mission to ?spread happiness across Africa

After 12 years as chief executive of media group, RED based out of Nigeria and Rwanda, Chude Jideonwo has announced his new venture, Joy, Inc. The company which has a mission to spread happiness across Africa was launched after he concluded a World Fellowship at Yale University in December 2017.
Chude Jideonwo launches Joy, Inc., a revolutionary new company with a simple mission to ?spread happiness across Africa

Joy, Inc. (www.joyinc.xyz) is a benefit corporation registered and based in Miami, Florida, with a Nigerian subsidiary. Through teaching and media products, it mainstreams the science and research on human flourishing, resilience and positive emotions to transform the culture and build a new generation of Africans focused on the greatest happiness for the greatest many.

Chude Jideonwo launches Joy, Inc., a revolutionary new company with a simple mission to ?spread happiness across Africa

“Africa has leapfrogged once before – from desktop to mobile - and it’s time to leapfrog again,” Jideonwo said in a statement. “The world is learning that income growth is not enough for the well-being of citizens, and the evidence shows that happier citizens build better societies. In fully harnessing the power of positive emotions in line with the current thinking across sociology, psychology, divinity and behavioural economics, Africa’s new generation can possess the tools needed to not only tackle the continent's mental and emotional health crisis, but also leapfrog around the considerable obstacles that prevent its nations from achieving full potential and transforming nations.

“In doing this, we are also pioneering a new model of business – based on our benefit corporate structure - where all our profits are invested in a small network of Nigeria-based charities – including the Hearts of Gold Children’s Hospice, the Mentally Aware Initiative Nigeria, and She Writes Woman. We seek to show clearly that businesses are crucial tools to solve Africa’s critical problems, while building wealth, not for shareholders, but transparently for public good,” he concluded.

Chude Jideonwo launches Joy, Inc., a revolutionary new company with a simple mission to ?spread happiness across Africa

A former board member with Microsoft 4Afrika, Jideonwo remains on the board of RED, of which he is a co-founder. He is also on the boards of the Oando Foundation and KiaKia Gas, and teaches undergraduate and postgraduate students at the Pan Atlantic University.

Chude Jideonwo launches Joy, Inc., a revolutionary new company with a simple mission to ?spread happiness across Africa

Joy, Inc. is supported by a Global Advisory Board that includes Laurie Santos, professor of psychology and cognitive science at Yale University; Craig Bailey of the Yale Center for Emotional Intelligence; David Marcotte of Fordham University, New York; Gbonjubola Abiri of the Federal Neuro-Psychiatric Hospital, Lagos; Jonathan Brakarsh of the Harare Hypnotherapy Group, Zimbabwe; Etheldreda Nakimuli-Mpungu of the Makerere University College of Health Sciences, Uganda; and Zainab Imam at Sidra Medical and Research Center, Qatar.

Chude Jideonwo launches Joy, Inc., a revolutionary new company with a simple mission to ?spread happiness across Africa
Chude Jideonwo launches Joy, Inc., a revolutionary new company with a simple mission to ?spread happiness across Africa
For more information: www.joyinc.xyz or joy@joyinc.xyz.
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Kowa Party fails to submit its candidate's name for the just concluded Osun state LG elections

TF!?Kowa?Party fails to submit its candidate

KOWA, a political party in Nigeria is currently the butt of jokes on social media.

At the just concluded Osun state LG elections, the party somehow failed to submit the name of the candidate representing its party, Jude Feranmi.

Admitting the terrble error, one of the party chieftain Remi Shonaiya tweeted, 'Good day. We owe the public an explanation & apologies on the Osun State LG election. In promoting leadership by younger people, the risk of mistakes due to lack of experience is high. Means we need closer supervision. This has cost us a lot, but we're learning. WE ARE SORRY.'.
Good day. We owe the public an explanation & apologies on the Osun State LG election. In promoting leadership by younger people, the risk of mistakes due to lack of experience is high. Means we need closer supervision. This has cost us a lot, but we're learning. WE ARE SORRY. 🙏
Nigerians on social media have labelled them as unserious, a mere twitter party and a group of people with no experience and direction...

See all the reactions below...
@KOWA_NGR Is a twitter party after all. Where are my KOWA friends. Aunty @oluremisonaiya can you confirm your party presented nomination for Osun LG election. https://twitter.com/mstyma_/status/957306009135075340 
No, we didn't, sadly. It's embarrassing to admit, but honesty demands that we publicly admit that we made some terrible mistakes which led to our Party not appearing on the ballot. It's a collective responsibility. If you then conclude that we're just a "Twitter Party", so be it.
KOWA remains a vibrant politcal party. These minor setbacks are eye openers that we need to sit up and do better.
Please if you donated to kowa for that election, ask for your money back as they’re clearly not serious..Demand for an audited account too
View image on TwitterView image on TwitterView image on Twitter
Ur Party handle @KOWA_NGR says u did NOT Pick up nomination form, Madam @oluremisonaiya tweeted that they did NOT present nomination form for the Elections..... BUT @JudeFeranmi is throwing blames at every other person.... What is dis Tori Olorun ??
It will be foolish for anyone to blame Feranmi for this one; are you mad?

The dude ran a good campaign but the party failed to do their homework. Some questions still need to be answered.

Did the party reach any compromise to overlook such detail deliberately? KOWA
Kowa didnt submit one candidate for the just concluded Osun state LG elections.

So small offices dont matter abi? Lol ok
KOWA didn't submit their candidate's name to INEC but went about campaigning.

So easy to stay on twitter criticising everything in sight. Sigh.
The idiots over at KOWA HQ didn't even say that there will be teething issues and they have learned, they totally threw him under the bus and then deleted tweets.

I owe a lot of people who believed in our campaign and supported a debt of gratitude and clarification.

I'm grateful and I'm SORRY you were disappointed.

We're still considering our next best option. Please Keep Believing.
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