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| Amanci Ortega |
Amancio Ortega, the Spanish retail genius who started Zara, passed Microsoft cofounder Bill Gates to become the richest man in the world on Wednesday.
Shares of Ortega’s business Inditex, parent company to Zara, Massimo Dutti and Pull&Bear, ticked up 2.5% Wednesday, boosting his personal fortune by $1.7 billion.
That lifted Ortega’s net worth from $77.8 billion to $79.5 billion. Gates is worth an estimated $78.5 billion.
The son of a railway worker from La Coruña, Spain, Ortega is as reclusive as he is rich. He started his career as a store clerk in his hometown before opening his own business. Beginning with less than $100, he and his wife Rosalia Mera began making lingerie, pajamas and nightgowns in their living room. Read full articles
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