There’s a new richest person in the world this
week:Amancio Ortega.On Tuesday,the Spanish fashion tycoon briefly knocked Bill Gates from the top spot.Gates rebounded,according to Forbes,But today Ortega’s $85 billion fortune surpassed Gate’s $84.9 billion once again.thus is the fourth time Ortega has been no.1.
In this country,at least,Ortega doesn’t have the same name recognition as Gates or Jeff Bezos,who become the world’s richest man for a short time on July 27.Bit the business he co-founded is more familiar: inditex is the parent company to millennial-favorite fast-fashion brand Zara.
Here are seven things to know about the elusive billionaire:
1.The 81- year old is publicity shy and eschews interviews:
Earlier on, so few photos existed of him,that even his investors”awkwardly confused him with other staff”,according to the Economist.
Ortega reportedly frequents the same coffee shop every day and eats lunch in his company’s cafeteria.
3.He started from nothing
Ortega,who was born in Leon,Spain,never graduated from high school.he worked for a tailor as a boy and set out on his own in his 20s,selling bathrobes and and lingerie with his first wife Rosalia mera.
4.He was always innovative
Ortega and mera opened the first zara in 1975.by 1976, they had their first computer to track sales.that was an integral part of Zara’s quick turnaround business model,which Ortega instituted from the beginning.Early on he insisted the system be nimble enough to be able to restock any store with 48hours and turn designs into clothing within 10 days.
5.He has a personal management style
Even as Zara grew into inditex,which was created to house other line as well as textile design,production and distribution companies,Ortega” never had his own office,desk or desktop computer preferring to direct his firm while standing with colleagues in a dealing room of Zara woman,the flagship line”, according to the Economist.
6.He’s a titan
Inditex want public in 2001.Ortega owns about 59 percent of the company,which has a $103 billion market cap.Today,the cpanu includes brands like bershka,Massimo Dutti,Pull&Bear and stradivarius.
Ortega reportedly went 25 years without taking a vacation.And,Despite stepping down as chairman of inditex in 2011,Ortega continues to go to the office every day to sit with his young designers and buyers.