Amancio Ortega Briefly Passes Bill Gates To Become World's Richest Man
- 9 years ago
Bill Gates briefly relinquished his title as the world's richest man to Spanish retail giant Amancio Ortega Friday morning.
Ortega's net worth hit $80 billion as stock in his holding company Industria de Diseño Textil reached an all-time high of 33.99 Euros per share.
Gates quickly reclaimed the top ranking after Ortega's shares slipped slightly to 33.80 Euros as of 10:52 a.m. Eastern Standard Time.
Industria de Diseño Textil, or Inditex, is the parent company to brands Zara, Pull&Bear and Massimo Dutti.
The $20 billion enterprise is the envy of the retail world, with its fast-fashion model that can design, make, ship and sell a piece of clothing in days.
That allows Inditex to react quickly to changing customer demands and keep its stores stocked with the latest trends.
Ortega's net worth hit $80 billion as stock in his holding company Industria de Diseño Textil reached an all-time high of 33.99 Euros per share.
Gates quickly reclaimed the top ranking after Ortega's shares slipped slightly to 33.80 Euros as of 10:52 a.m. Eastern Standard Time.
Industria de Diseño Textil, or Inditex, is the parent company to brands Zara, Pull&Bear and Massimo Dutti.
The $20 billion enterprise is the envy of the retail world, with its fast-fashion model that can design, make, ship and sell a piece of clothing in days.
That allows Inditex to react quickly to changing customer demands and keep its stores stocked with the latest trends.