Who is the Richest Man in the world?

Anyone would say the name of Microsoft Co-Founder Bill Gates.If you also said the same answer, then you are wrong.An 80-year-old man named Amancio Ortega, the founder of Zara fashion chain in Spain has become the World’s Richest Man this week.Pushing Bill Gates to the second spot, claimed the first position.

Ortega’s balance has increased by $1.7 billion this week as his shares went up by 2.5%. He is known for his reserve nature. The increase in the shares value started from last year itself. Around 40% increase was recorded last year. He holds 59.3 percent stake in the company’s shares.

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This might be termed as one of the good signs for Spain, a country which recently emerged from recession. Recession destroyed businesses and jobs, but Ortega emerged as a self-made icon. In the past, the group is only the third Spanish firm ever to be valued at 100 billion Euros. But now it is placed on top dragging behind the first two Bank Santander and Telecom’s giant Telefonica.

He never gives any interviews or photographs. He did not even attend the inaugural event of the stock market at the Madrid exchange when his shares went up in 2001.

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Starting in the northern region of Galicia, it grew to more than 6,000 across 90 countries with a bunch high-end label of brands. Zara owns the brands like Bershka, Massimo Dutti, and Pull & Bear has quietly become the world’s largest fashion retailer.

His father was a railway worker and started his working career at the age just 14 years. He started his profession as a delivery boy for a shirt maker. Now, he grew as the globe’s richest man.

There are rumors in the industry that his glamorous daughter Marta would be his successor in Managing the business. One has to wait and watch the official announcement is made in this regard.


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