Wednesday, August 2, 2017
This mysterious billionaire just beat out Jeff Bezos to become the second-richest man in the world
The mysterious founder of Zara just beat out Jeff Bezos to become the second-richest person in the world.
Amancio Ortega claimed the No. 2 spot on the list of the world's richest people on Tuesday, Forbes reported. Amazon founder and CEO Jeff Bezos — who just last week beat out Bill Gates to briefly claim the title of the richest man in the world — dropped to the No. 3 position.
Bezos' drop is due to Amazon stock fluctuations, as the ecommerce company's stock has fallen nearly 5% since last Thursday. As of Tuesday afternoon, Forbes estimates Ortega's net worth to be $85.5 billion, compared to Bezos' estimated net worth of $84.6 billion.
Despite Ortega's enormous wealth, many people have never heard of him. Ortega is an incredibly private man, is rarely seen in public, and has given just a handful of interviews throughout his incredibly successful career.
That career began when Ortega founded fast-fashion giant Zara with his then-wife Rosalia in 1975. Today, his retail company Inditex SA — which owns Zara, Massimo Dutti, and Pull&Bear — has 7,385 outposts around the world.
While Ortega is immensely private, we do know a fair amount about him. Here's everything you need to know about the richest man in fashion.
Ashley Lutz and Mallory Schlossberg contributed reporting to an earlier version of this article.