Zara`s founder Amancio Ortega is the world`s richest

17 November 2024

Zara`s founder Amancio Ortega is the world`s richest man

18:30 26 October 2015 Read: 1332

Zara`s founder Amancio Ortega is the world`s richest man

Zara`s founder Amancio Ortega has overtaken Bill Gates to become the world`s richest man, local media reported on Friday citing Forbes magazine.

Forbes updated the latest rise in the stock market value of Inditex, the world`s leading retailer that operates Zara`s brand, whose shares hit an all-time high on Friday taking Ortega`s fortune above the 70 billion euro mark (77 billion U.S. dollars) for the first time, rising to 79.6 billion U.S. dollars.

Ortega has a 59.29 percent stake in Inditex that is valued at 62.3 billion euros (68.6 billion U.S. dollars).

He has overtaken Microsoft`s Bill Gates whose fortune rose to 78.1 billion U.S. dollars on Friday morning.

Inditex operates eight brands including Zara, Massimo Dutti, Bershka, Pull&Bear, Stradivarius, Oysho, Zara Home and Uterque. It has around 6,746 stores in 88 different markets and employs 140,000 people.

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