Zara, high street fashion chain founder Spaniard Amancio Ortega has officially become the richest man in the world with £60bn.
Spaniard Amancio Ortega, 80, outdid Microsoft’s Bill Gates after his personal fortune rose by $1.7billion to $79.5 billion (£59.5billion), according to Forbes magazine.
Bill Gates is worth $78.5billion. Last Friday the contest was tight again as shares in Microsoft rose and Ortega’s business, Inditex, fell.
Ortega transformed clothing group Inditex, the parent company which runs Zara, from a tiny family dressmaker into Spain’s biggest firm.