Zara Founder Amancio Ortega Is Now The Richest Man On Earth

A recent report on Wednesday by Forbes Magazine has revealed Zara founder, Amancio Ortega as the world’s richest man.

The fashion tycoon knocked bill gates from the number one spot had an edge of about $200 million over Microsoft co-founder Bill Gates, due in part to a particularly profiting week for the stock of Inditex, at Zara’s parent company.

Forbes also reported that Ortega had reached the top spot as the world’s richest person three times already but lost the position within a day.

Despite Ortega’s enormous net worth, the public seems not to have heard about him. He has been said to be an incredibly private man and has given just a handful of interviews all through his successful career.

Ortega founded fast-fashion giant Zara with his ex-wife Rosalia in 1975. Today, his retail company Inditex SA — Owners of Zara, Massimo Dutti, and Pull&Bear — has 7,385 outlets around the world.

According to Forbes, Ortega became the richest person in the world for the first time in October 2015 but lost the spot to Bill Gates in less than 24 hours. He regained the lead in September 2016 but was quickly overtaken by Gates once again.

Leave a Reply

Your email address will not be published. Required fields are marked *