Friday, September 9, 2016

Zara Tycoon Overtakes Bill Gates, Now World's Richest Man

The founder of Spanish shopping chain Zara has overtaken Bill Gates to become the world’s richest man. Amancio Ortega’s fortune shot up £1.4 billion this week when shares in its parents company rose taking his personal wealth to £67.2 billion .

This sees the 80-year-old pip Microsoft founder Gates’ £66.4 billion fortune as well as other moguls such as US investor Warren Buffett and Amazon founder Jeff Bezos.

The son of a railway worker became the world’s richest man on Wednesday, according to Forbes magazine , when shares of his business Inditex went up 2.5%. Last year shares went up 40% as sales soared. Big big congrats to him!