Gates loses No. 1 spot in net worth

[Dave Farber <dave () farber net>]

Delivered-To: dfarber+ () ux13 sp cs cmu edu
Date: Tue, 06 Apr 2004 02:19:12 -0700
From: Karl <karlk () neteze com>

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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