Home International News Zara founder Amancio Ortega beats Bill Gates to become world’s richest man

Zara founder Amancio Ortega beats Bill Gates to become world’s richest man

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, co-founder of Spanish retailing giant , is now the richest person on the planet, with a US $200 million edge over previous leader , Forbes reported.

Zara founder Amancio Ortega closely surpasses Bill Gates as world's richest man
Ortega’s fortune has risen 117 per cent since the 2012 debut of the Bloomberg index, compared with a 36 per cent rise for Gates. Bezos’s net worth has risen 353 per cent

Ortega, 81, founder of parent Inditex S.A. and Europe’s wealthiest person, is US $2.2 billion behind the Corp. Co-founder with a net worth of US $83.3 billion, according to the Bloomberg Billionaires Index. .com Inc. founder , 53, who held the top spot briefly last month, is ranked No 3 with US $82 billion.

According to a Forbes report: Ortega has held the top position three other times, but he has always relinquished the lead within a day. Most recently, he surpassed Gates on Tuesday, after shares of Inditex—the parent company to fashion chain Zara—rose just over 1 per cent. But by the end of the afternoon he was US $100 million behind the Microsoft co-founder.

Then, on Wednesday, Ortega regained the top spot. As of 12:05 pm Eastern Time, he was richer than Gates by a modest margin of US $200 million.

Ortega’s fortune has risen 117 per cent since the 2012 debut of the Bloomberg index, compared with a 36 per cent rise for Gates. Bezos’s net worth has risen 353 per cent.