[IP] Gates loses No. 1 spot in net worth
Delivered-To: dfarber+@xxxxxxxxxxxxxxxxxx
Date: Tue, 06 Apr 2004 02:19:12 -0700
From: Karl <karlk@xxxxxxxxxx>
http://money.cnn.com/2004/04/04/news/newsmakers/ikea_founder.reut/index.htm
Ikea founder's net worth put at $53 billion, edging out Microsoft's Bill Gates.
April 4, 2004: 3:14 PM EDT
STOCKHOLM, (Reuters) - Ingvar Kamprad, the Swede who founded furniture
retail chain IKEA, has overtaken Microsoft's Bill Gates as the world's
richest man, Swedish TV news reported on Sunday.
Citing next week's edition of the Swedish business weekly Veckans Affarer,
public service SVT2 television said Kamprad, 77, has a personal fortune of
400 billion crowns ($53 billion).
Gates's fortune is put at $47 billion, according to the latest list of the
world's rich in U.S. Forbes magazine, SVT2 said.
Kamprad, known for frugal habits such as flying economy class, lives in
Switzerland and no longer takes part in the daily running of IKEA, but has
kept ownership of the company with more than 180 stores in over 30
countries in the family.
SVT2 said the dollar's slide against other currencies is the main reason
why Kamprad has now overtaken Gates.
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