Gates dethroned as world’s richest person

Quirky news but still. The Register: Microsoft’s Gates dethroned as world’s richest person by cheap furniture magnate.

The Swedish founder of the IKEA furniture chain has passed Microsoft Chairman Bill Gates as the world’s richest person, according to reports out of Sweden. Business weekly Veckans Affarer is set to report that Kamprad holds a fortune of 400 billion crowns or $53 billion. This would put him $6 billion ahead of Gates.

In its most recent survey, Forbes magazine placed Gates’ wealth at $47 billion and had him topping the world’s richest list. Kampard, 77, came in at 13 on the list with $18.5 billion.

The Swedes, however, believe that a weak US dollar has thrust Kampard to the top of the list since Forbes did its calculations.

Kamprad is said to be on the frugal side, flying economy and driving an old Volvo. He keeps his wealth secure in tax-haven Switzerland.

Well, unlike hinted by the Register, there is nothing mediocre about IKEA. Not any more. And pleeease, don’t jump the “mass production is bad” bandwagon. Mass production was probably the biggest breakthrough of the last century. It’s the cornerstone of being able to thrust a country to industrialization and beyond.

Follow-up: Ikea Founder Denies Being Richest Man
Since there is virtually no insight into the company it’s anyone’s guess really.