The founder of Zara is the wealthiest man in the world

Economy Nilgun Salim
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The mysterious founder of Spanish retailer Zara surpassed Bill Gates, becoming the wealthiest man in the world, according to Forbes.

Inditex’s shares rose by 2,5%, bringing Ortega a total fortune of $79,5 billion. According to the same source, Bill Gates total revenues are under $78,5 billion.

Despite his incredible wealth, Armancio Ortega, the press from all around is struggling to discover further information related to his family and friends.

The Spanish entrepreneur is 80 years old and known for his discretion and rare TV appearances.

Ortega founded Zara in 1975 with his former wife. Today, the giant retailer has various subsidiaries including Massimo Dutti, Pull & Bear, Oysho, Bershka, and Stradivarius.

In a monarchy where the unemployment rate is at its highest and the business world is dominated by dynasties, Armancio Ortega is a billionaire who started from the bottom.

His biographers claim that he left school at 12 to make deliveries for a local tailor. A young Armancio Ortega learned the secrets of clothing manufacturing very quick and began to create dresses and lingerie in his own living room, said his co-founder and former wife Rosalia Mera.

Currently, Inditex is the largest and most powerful retailer in the world. The Spanish retailer did not gain fame through his originality, on the contrary. Zara achieved global fame by copying famous clothing lines signed by luxurious fashion houses but sold at extremely affordable prices. Ortega opened the first Zara store in 1975 in La Coruna. Now he has stores in cities such as New York, London or Milan.