RICHEST MAN IN THE WORLD – Who Has Overtaken Bill Gates as the Richest Man in the World

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NEW: The Richest Man in the world – Meet the Man Who Has Overtaken Bill Gates as the Richest Man in the World!

Forbes latest release shows American billionaire, Bill Gates has been beaten to the top position of the richest man in the world by an European entrepreneur.

richest man in the worldAmancio Ortega (Left)

Bill Gates has for years been the richest man in the world with his mega business Microsoft being one of the most influential companies in the world, but he’s no longer the world’s richest man.

That title goes to Amancio Ortega and he is the owner of Zara chain of retail stores. Zara has been a staple in the clothing business with their shops dotting almost every shopping complex everywhere in the world.

The Spaniard’s company Inditex who own Zara enjoyed a 2.5% boost on their shares which in turn boosted Ortega’s fortune to $79.5 billion Forbes reports.

This pushes him past Bill Gates who is at $78.5 billion. What makes Ortega remarkable is that very few people have heard of him, he isn’t in the spotlight much and is very serious about his private life.

The 80-year-old founded fast-fashion giant Zara with his then-wife Rosalia in 1975.

Inditex SA, a retail company which owns Zara, Massimo Dutti, and Pull&Bear – has over 6,600 outposts around the world.

Below are a few facts that should be known about Ortega:

richest man in the worldAmancio Ortega is the richest man in the world, with a net worth estimated at $79.5 billion.

 

Amancio Ortega Gaona (Spanish pronunciation: born 28 March 1936) is a Spanish business magnate. He is the founder and chairman of the Inditex fashion group, best known for its chain of Zara clothing and accessories retail shops. He is currently the richest person in Europe and the second richest person in the world according to Forbes with an estimated net worth of US$77.2 billion as of 15 September 2016.

Amancio Ortega Biography

The youngest of four children, Ortega was born in Busdongo de Arbás, León, Spain to Antonio Ortega Rodríguez and Josefa Gaona Hernández from the province of Valladolid and spent his childhood in León.

He left school and moved to La Coruña at the age of 14, due to the job of his father, a railway worker. Shortly after, he found a job as a shop hand for a local shirtmaker called Gala, which still sits on the same corner in downtown A Coruña, and learned to make clothes by hand. In 1972, he founded Confecciones Goa (his initials in reverse), selling quilted bathrobes which Ortega produced using thousands of local women organised into sewing cooperatives.

In 1975, he opened his first Zara store with his wife Rosalía Mera, so called because his preferred name Zorba was already taken.

Today, Zara is part of the Inditex group (Industrias de Diseño Textil Sociedad Anónima), of which Ortega owns 59.29%, and aside from over 6,000 stores includes the brands Zara, Massimo Dutti, Oysho, Zara Home, Kiddy’s Class, Tempe, Stradivarius, Pull and Bear, Bershka and has more than 92,000 employees.

Ortega keeps a very low profile and, until 1999, no photograph of Ortega had ever been published and is known for his preference for a simple lifestyle. He refuses to wear a tie and typically wears a simple uniform of a blue blazer, white shirt, and gray pants, none of which are Zara products. He is also said to take a very active part in the production and design process in the company.

When he made a public appearance in 2000 as part of the warm-up prior to his company’s initial public offering on the stock market in 2001, it made headlines in the Spanish financial press. However, he has only ever granted interviews to three journalists[7] and his secrecy has led to the publication of books, such as Amancio Ortega: de cero a Zara (From Zero to Zara).

In 2011, Ortega announced his imminent retirement from Inditex, parent company of the Zara chain, stating that he would ask Inditex vice-president and CEO Pablo Isla to take his place at the helm of the textile empire. In 2012 Ortega donated about 20 million euro to Caritas Internationalis, a Roman Catholic relief organisation

richest man in the worldThis is his second wife, Flora. The couple has been married since 2001

richest man in the worldIn August 2013, his ex-wife and Zara co-founder, Rosalia Mera, died at 69. She was Spain’s richest woman.

 

richest man in the worldThis is his daughter, Marta. The socialite is married to top Spanish equestrian Sergio Álvarez Moya.

 

richest man in the worldOrtega and his wife live in a discreet apartment building in La Coruña, Spain, near a major port of the Atlantic Ocean.

Richest man in the worldKate Middleton is a huge fan of Zara’s designs and is often photographed in its clothing.

Richest man in the worldOrtega is known for being private. In 2012, Bloomberg noted that he had only granted interviews to three journalists.

 

Richest man in the worldHe also dresses modestly. He usually wears a simple uniform of a blue blazer, white shirt, and gray pants – none of which are Zara products.  In his free time, Ortega enjoys horseback riding and owns an equestrian center in Finisterre in Galicia, Spain.

Richest man in the worldHe goes to the same coffee shop every day and eats lunch with his employees in the company cafeteria. Here’s a picture of Zara’s headquarters.

Richest man in the worldHe also bought the tallest skyscraper in Spain, the Torre Picasso in Madrid. The building stands 515 feet and cost $536 million.

Richest man in the worldHe owns The Epic Residences and Hotel in Miami, considered to be one of the best luxury hotels in the US.

Richest man in the worldOrtega drives an Audi A8 luxury sedan that is said to be more about comfort than luxury. 

Richest man in the worldHe also owns The Global Express BD-700, a private jet designed by Bombardier, one of the leading manufacturers of luxury private jets. The plane carries a price tag of $45 million.

Richest man in the world Amancio OrtegaBut he rarely jets off on vacation. He says he loves working too much to take time off.

 

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Richest man in the world Amancio Ortega

 

 
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