Topic: LOST FOUND - on April 6, 2004 at 2:23:00 PM CEST
Ikea says founder not the richest
The founder of furniture giant Ikea isn't hurting for money, but the company he founded denied on Monday a report that he surpassed Bill Gates and Warren Buffett to become the world's wealthiest man.
In an article to be released this week, Swedish news weekly Veckans Affaerer said Ingvar Kamprad, 77, the founder of Ikea, surpassed Gates and Buffett.
The falling exchange rate between the Swedish krona and the U.S. dollar, the magazine said, had caused Kamprad's personal fortune to rise to an estimated $52.5 billion.
Ikea said that wasn't so.
"This is completely wrong. It's a mistake that is made all the time," said Ikea spokeswoman Marianne Barner.
"Estimating the value of the company, including all the stores, and saying it's all Ingvar's, that is totally wrong. Ingvar Kamprad does not own Ikea."
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