The Owner of Zara Briefly Surpassed Bill Gates as the Richest Person in the World

Zara founder Amancio Ortega became the richest person in the world this morning. But it didn't last long.

Image via Yatedo

Amancio Ortega was on top of the world this morning.

The 79-year-old owner of Zara had moved from the second richest person in the world to the richest person in the world, surpassing Microsoft founder Bill Gates, who has a net worth of $79.2 billion; however, the victory was short-lived.

According to a report by Forbes, Ortega’s net worth went up to $80 billion as stock in his holding company Industria de Diseño Textil (Inditex) experienced a sudden surge in share prices. But by 10 a.m. EST, the stock went down and Ortega was back at the No. 2 spot.

Don’t feel too sorry for him, though. The man who founded Zara in 1975 still has a net worth of $78.6 billion, as well as an entire block in Miami. And judging by the current momentum of fast-fashion retailers, it’s likely he’ll surpass Gates again. 

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