Posted by Julie Day on September 08, 2016
Richest man in the world

When we think of major global companies that started out in Spain, names like Telefóncia, Banco Santander, Banco Sabadell, Lladró, Repsol and Iberia might spring to mind.

Some of us foreigners living in Spain for a while now have heard of the massive Spanish multinational clothing company Inditex, but it is also possible that a large number haven’t.

For those that haven’t, you will definitely be familiar with all of the brands that make up this hugely popular fashion group, as they include commercial centre must such as Zara, Bershka, Massimo Dutti and Stradivarious.

The founder of Inditex is Amancio Ortega – a name that for many doesn’t roll off the tongue. He is not a man that likes to hit the headlines on a regular basis, but in recent years he has become well known for the amount of money his company, and he himself, have amassed.

A few months ago, Amancio Ortega was the richest man in Europe and the second richest in the world.

However, yesterday, news sources revealed that the Inditex boss and co-founder has just topped this, his fortune surpassing that of Bill Gates, making him the richest man in the world according to Forbes.

Ortega now has assets worth 69,860 million euro, compared to the Microsoft founder’s 69,776 million euro, meaning that the Spaniard has recuperated the number one position that he briefly held in October 2015, when Inditex shares went up 3.2% while those of the computer giant dropped 0.7%.

According to Forbes Magazine, Amancio Ortega’s wealth increased yesterday by 1,067 billion euro (1.5%), but that of Bill Gates fell by 109 million euro (0.2%).

With only a few million euro between them, it is possible that within a few months, positions change yet again.

Source: www.euribor.com

Categories: 

leftOn The Pulse is a leading website dedicated to researching and reporting up-to-date information about Spanish property, legislation and the economy

Read On The Pulse of Spain on Google Currents