This post is one of several on business heirs apparent. Let us know in the comments whether you think Ingvar Kamprad's sons should take up the reigns of IKEA, and be sure to check out the other heir apparent posts.

A frugal lifestyle and an eye for what's trendy have allowed Ingvar Kamprad to amass the world's fourth-largest fortune by selling $15 chairs and $450 sofas. The 81-year-old Swedish citizen launched the privately-held IKEA in 1947 and has built it into the world's largest furniture retailer, with stores in 34 countries. The notoriously frugal billionaire (worth about $33 billion) drives a decade-old car, flies coach, and furnishes his own home with the affordable products found in his stores.

While "Ingvar Kamprad" may not roll off the tongue with ease, the household brand name of IKEA is an acronym derived from his initials, the farm where he grew up (Elmtaryd) and his home county of Agynnaryd.

Into his 80s, Kamprad serves as senior adviser for the governing Ingka Foundation, but is not allowed to hold an official position on the five-person board due to his advanced years. Still it seems as though he pulls many of the strings. In fact, according to a 2006 Economist article, "[Kamprad's] control is so tight that not even [his] heirs can loosen it after his death."