The Man Who Bought a Country

The richest man in Denmark--and reputedly one of the richest in the world--is shy, strapping A. P. (for Arnold Peter) Mo/11er, who, at 85, still likes to sail himself to work in his sloop Karama III. In his storybook rise from merchant's apprentice, Mo/11er (pronounced roughly Mew-lehr) has always believed in one precept besides making money: do something for Denmark. Mostly, what he has done for Denmark is to invest in it. With the profits earned abroad by his 85-ship Maersk Line and his 25,000-acre Tanganyika sugar plantation, he has built his country's biggest industrial empire, which ranges from shipyards to petrochemical plants and employs 9,000 Danes.

Last week Mo/11er was once again doing something for Denmark. Concerned lest the nation's natural resources fall into foreign hands, Mo/11er has persuaded the Danish government to give him the oil and natural gas rights for the entire country, except Greenland and the Faroe Islands. In return, Mo/11er will set up a $6,000,000 exploration company, and has promised the government royalties ranging up to 12% of the value of any oil he finds.

The deal must be approved by Parliament before it becomes final, but no snags are expected, for in Denmark Mo/11er is a national hero. Besides, although Gulf Oil has spent $15 million looking, no trace of oil has ever been found in Denmark.

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