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fkpboss:
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.

In 1975, the couple (who eventually divorced) decided to open a store named Zara. Eight years later, Ortega had expanded to nine locations around Spain. In 1984, he opened a 10,000 square foot logistics hub.
Unlike most retailers, Inditex hardly relies on advertising. Ortega has instead devoted most of his resources into turning his company into the most efficient retailing operation in the world. When companies like Gap and H&M were taking five months to design, make, distribute and sell new products in the early 2000s, Zara was doing it in three weeks. That meant Ortega’s companies could keep up with the whims of shoppers much more easily than its competitors — and also had to spend less on warehousing.

Ortega took the business public in 2001 and debuted on the Forbes billionaires list the same year, with a net worth of $6.6 billion. By then, Gates was already the richest man in the world, with a fortune of $58.7 billion.

From 2001 to 2002, as most billionaires struggled to hold onto their riches amid the dot-com crash, Ortega gained an additional $2.5 billion and became the world’s 25th-richest man. He repeated the trick seven years later, when the world plunged into crisis. From 2009 to 2013, while the Spanish economy was reeling, Ortega personally gained $39 billion.

Ortega briefly took the title of world’s richest man for the first time in October 2015, when Inditex shares hit an all-time high and boosted Ortega’s net worth to $80 billion. But the stock quickly dipped, and Gates once again claimed the throne. The two billionaires will likely continue to exchange the title as the stock prices of their holdings continue to bounce up and down.
Gates has donated nearly $31 billion in stock and cash to his foundation over his lifetime. If the Microsoft cofounder were not such a prolific philanthropist, neither Ortega nor anyone else on Earth would be anywhere close to as rich as Gates.

Source: www.forbes.com/sites/danalexander/2016/09/08/amancio-ortega-richest-bill-gates-world-spain-inditex-microsoft-zara/#789c1e5c264d

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.

In 1975, the couple (who eventually divorced) decided to open a store named Zara. Eight years later, Ortega had expanded to nine locations around Spain. In 1984, he opened a 10,000 square foot logistics hub.
Unlike most retailers, Inditex hardly relies on advertising. Ortega has instead devoted most of his resources into turning his company into the most efficient retailing operation in the world. When companies like Gap and H&M were taking five months to design, make, distribute and sell new products in the early 2000s, Zara was doing it in three weeks. That meant Ortega’s companies could keep up with the whims of shoppers much more easily than its competitors — and also had to spend less on warehousing.

Ortega took the business public in 2001 and debuted on the Forbes billionaires list the same year, with a net worth of $6.6 billion. By then, Gates was already the richest man in the world, with a fortune of $58.7 billion.

From 2001 to 2002, as most billionaires struggled to hold onto their riches amid the dot-com crash, Ortega gained an additional $2.5 billion and became the world’s 25th-richest man. He repeated the trick seven years later, when the world plunged into crisis. From 2009 to 2013, while the Spanish economy was reeling, Ortega personally gained $39 billion.

Ortega briefly took the title of world’s richest man for the first time in October 2015, when Inditex shares hit an all-time high and boosted Ortega’s net worth to $80 billion. But the stock quickly dipped, and Gates once again claimed the throne. The two billionaires will likely continue to exchange the title as the stock prices of their holdings continue to bounce up and down.
Gates has donated nearly $31 billion in stock and cash to his foundation over his lifetime. If the Microsoft cofounder were not such a prolific philanthropist, neither Ortega nor anyone else on Earth would be anywhere close to as rich as Gates.

slimthugchimee:
pictures and what is wrong with the 112 or 122 call

Hater.
Kudos to you corper Bello

Hahahaha, i just can't stop laughing, these people can lie ehn,,, because of a thousand dollars. Well it worths it in dis kind economy

touching...

Good, no come spoil our country for us

Rest in peace

The time is now. 90% of the entire wealth of this great nation is being shared between less than 2% of the total population that have meandered their ways into the government in the name of politics, leaving the remaining populace to doom in poverty. Our parents may be too old to speak and our children may be too young to talk. So, believe me if I say that the youths are the protector of our hard-earned independent country. If we fail to plan out our way of making Nigeria a better place then we plan to fail not only ourselves but also the generation unborn. When we earned our independence from the British, we did that to be free indeed not to be colonized or mishandled by our own countrymen that are privileged to be at the high table to govern the affairs of the nation......It's high time we raised our voices in one accord. It's either we speak now or remain silent forever.

Driver, take your change and park me here..

Fall and Die game

Lol..,more abeg, even though i'm not an APC supporter

hmm

It's self explanatory.. It is as you have read it

One of the few things Nigeria needs right now to be one of the best nations in the world is good governance and leadership.
I Pledge To Nigeria My Country

The answer is 2

This guy should spend the rest of his life in alagbon prison....Using Army uniform to sing Lil kesh song "Cause Trouble " is a big crime

juliuscarter:
VEC...

My brother you know correct songs jorh

if the lord is the shepherd it's okay to be the sheep

Make dem do am for Naija, correct guys go still find their way into twitter and the rest

BLOOD OF CHEESOS!!!!

This is definitely a genetically modified chicken. I can't eat it and its product o

princetom1:
May God run your life the way fayose is running ekiti state.

Quote me again and thunder go fire your nyansh

This is the difference between a paid stage protest and a genuine rally for a one of a kind governor

Wonderful is an understatement

Government workers shouldn't be assaulted like this

The man is contesting for governor in the next election. He is pouring water on the ground so that he would step on cold soil as yoruba people will say.... I may be wrong tho

I smiled... May God forgive him

Last price

That was when sanity was prevailing, but now, reverse is the case

How much is it?

Oya now, make we dey see

goonsmi:
Haaa

Sorry for the harsh comment but your husband dey Bleep up. I'm also a man na