As of Wednesday, Microsoft founder, Bill Gates, was no longer the richest man in the world.
This was because Amancio Ortega, the Spanish retail genius who started Zara, passed Bill Gates to become the richest man in the world.
According to Forbes.com, shares of Ortega’s business Inditex, parent company to Zara, Massimo Dutti and Pull&Bear, ticked up 2.5% Wednesday, boosting Ortega’s personal fortune by $1.7 billion.
That lifted his net worth from $77.8 billion to $79.5 billion, which is higher that Gates’ $78.5 billion.
Ortega’s father was a railway worker from La Coruña, Spain.