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STOCKHOLM--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 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 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 in the family with more than 180 stores in more than 30 countries.

SVT2 said the dollar's slide against other currencies is the main reason why Kamprad has now overtaken Gates.

Source
SilverCougar
*snerks*

BUWHAHAHAHA laugh.gif
Ruthie
Go Scandinavians! grin2.gif
Kellalor
laugh.gif

Who would have thought the richest person in the world would be the founder of a furniture store? laugh.gif
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