English
Bill Gates has been ruling the top position for being the wealthiest person in the world for long. But with the recent report published by Forbes, there is change and Bill Gates has been shifted to second spot by Amancio Ortega, the Spanish founder of fashion chain Zara. Ortega has a personal fortune of $79.5 billion overtakes Bill Gates who have $78.5 billion.
Ortega, 80 was reported as world’s wealthiest man by Forbes after his shares in Inditex, the parent company for Zara went up by 2.5%. Ortega holds a total of 59.3% share in world’s biggest fashion chain. The share went up 2.5% on Wednesday which gave a rise of $1.7 billion to Ortega’s wealth at time. A similar swapping of positions between Gates and Ortega came in last October, but Gates gained back the top position, after shares of Microsoft went up.
Indetix is the parent company to Zara, Zara Home, Massimo Dutti, Bershka, Oysho and Pull and Bear. The self-made magnate has reportedly on to hand over his business empire to her daughter Marta. Ortega started working at the age of 14 as delivery boy for a shirt maker, with his years of hard work, he went onto setup first ZARA store in Spain, 1975. (ALSO READ: Acid attack survivor Reshma Qureshi showed exemplary courage walking the ramp at New York Fashion Week)
Ortega is an enthusiastic businessman, and has been looking over management of the company for a decade now, still is an active part of the company. He doesn’t gives interviews and doesn’t particularly have a liking for being photographed.
For breaking news and live news updates, like us on Facebook or follow us on Twitter and Instagram. Read more on Latest World News on India.com.
