Gates loses No. 1 spot in net worth

[Rolo]

I take no responsibility for this news story, but I found it interesting

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.

http://money.cnn.com/2004/04/04/news/newsm....reut/index.htm

[Winetalk.com]

Originally posted by Rolo@Apr 4 2004, 05:23 PM
I take no responsibility for this news story, but I found it interesting

http://money.cnn.com/2004/04/04/news/newsm....reut/index.htm

hmmm...I also fly economy class,
I enjoy my billionair life style!
;-)))

[Mike AI]

Originally posted by Rolo@Apr 4 2004, 05:23 PM
I take no responsibility for this news story, but I found it interesting

http://money.cnn.com/2004/04/04/news/newsm....reut/index.htm

The people who do the net worth compairsons always base Gate's worth on his Microsoft holdings. While this is the largest chunk, he has significant holdings in many other large, successful companies. I would think liquid Gates is still king.

[DrGuile]

Citing next week's edition of the Swedish business weekly Veckans Affarer, public service SVT2 television said

this aint exactly rock-solid! :P