Zara Clothing Owner, Amancio Ortega Briefly Passes Bill Gates To Become World’s Richest Man

Amancio Ortega
Amancio Ortega

Bill Gates briefly relinquished his title as the world’s richest man to Spanish retail giant Amancio Ortega Friday morning. Ortega’s net worth hit $80 billion as stock in his holding company Industria de Diseño Textil reached an all-time high of 33.99 Euros per share. Gates quickly reclaimed the top ranking after Ortega’s shares slipped slightly to 33.80 Euros as of 10:52 a.m. Eastern Standard Time. The two billionaires will likely swap the title of world’s richest man in the coming days, as shares of Inditex, Microsoft and their other holdings continue to bounce up and down.

YOU MAY ALSO LIKE:   Lady hires assassins to kill ex-boyfriend

Industria de Diseño Textil, or Inditex, is the parent company to brands Zara, Pull&Bear and Massimo Dutti. The $20 billion (sales) enterprise is the envy of the retail world, with its fast-fashion model that can design, make, ship and sell a piece of clothing in days. That allows Inditex to react quickly to changing customer demands and keep its stores stocked with the latest trends.

Culled from Forbes

Kindly share this story

Similar Posts

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.