Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 2,963,556 members, 7,190,698 topics. Date: Monday, 28 November 2022 at 01:25 PM

Bill Gates No More The Richest Billionaire In The World - Naijapoint - Nairaland / General - Nairaland

Nairaland Forum / Nairaland / General / Bill Gates No More The Richest Billionaire In The World - Naijapoint (371 Views)

Let’s Talk, Who Was The Richest Man In Nigeria Before Dangote? / Top 10 Richest Lawyers In Nigeria - Law Repository Nigeria / About John. D. Rockefeller, The Richest Man Ever Since King Solomon (2) (3) (4)

(1) (Reply)

Bill Gates No More The Richest Billionaire In The World - Naijapoint by NaijaPoint: 9:09am On Oct 24, 2015
There's a new richest man in the world.

It's Spanish clothing magnate Amancio Ortega, who has overtaken Microsoft founder Bill Gates for the first time ever.

According to Forbes' real-time tracker, the elusive multibillionaire founder of European clothing retailer Zara just smashed past Bill Gates to become the wealthiest person on the planet, with a fortune of $79.8 billion (€71.83 billion or £51.84 billion).

The elusive Ortega isn't as much of a household name as Gates, but he's quietly ascended the wealth rankings in recent years, as his company continues to perform well and expand.

Unlike many of the richest people in the world, Ortega has a fascinating rags-to-riches story. Born in 1936 during the Spanish Civil War, Ortega's father earned 300 pesetas a month, a meager salary.

Ortega's biographer described his memories of a childhood during which his family could not always afford enough food. He left school in his early teens, working his way up from the absolute bottom rung as a messenger boy in a shop.

It wasn't until he was 40 years old that Ortega got around to setting up Zara, the fast-fashion retailer that has gone from strength to strength — first growing in Spain, then neighbouring Portugal and France, then London. Now it's all over the globe.

According to Forbes, Ortega's wealth rose by 5.3%, another $4 billion, over the last 24 hours. That's partly down to a surge in Inditex shares, the parent company that owns Zara.

In the last 10 years, the market value of Inditex has risen by about 570%, the main driver of Ortega's climb up the ranks.

In an odd turn of events, Ortega has Mario Draghi to thank for his new rank — the head of the European Central Bank's hints that the ECB would boost its quantitative-easing programme on Thursday sent shares in the eurozone surging upwards.

source: http://www.naijapoint.com/2015/bill-gates-isnt-the-richest-billionaire-in-the-world-anymore/5956

(1) (Reply)

Opportunity For Ovc (girl-child) That Needs Education Support / Get Paid 5$ For Each Visitor You Refer. / U Want Free Airtime??

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2022 Oluwaseun Osewa. All rights reserved. See How To Advertise. 46
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.