Amancio Ortega, founder of clothing and fashion brand ZARA has overtaken Bill Gates to become the world’s richest man this week. According to Forbes, Amancio Ortega has a personal fortune of $79.5 billion and he has overtaken Bill Gates, who has a total value of $78.5 billion.
Forbes reported that Amancio Ortega became the world’s richest man on Wednesday when shares in Zara’s parent company, Inditex, went up 2.5% and overtook Bill Gates.
Amancio Ortega holds a total of 59.3% share in Inditex. Companies share went up 2.5% on Wednesday which gave Ortega rise of $1.7 billion. However Ortega was on the top list only on Wednesday and Thursday. Gates reclaimed his position on Friday morning as the Ortega’s shares fell by 2.8% and left Ortega with the worth of $77.8 billion on Friday morning, while Gates’ fortunes were estimated at $78.1 billion.
Amancio Ortega started his professional life at the age of 14 working as a delivery boy with a shirt-maker in Spain. After a few years. Ortega set up his workshop, where he made night gowns, baby wear and lingerie. Later he opened the first Zara clothing store in 1975 in Spain.
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