Zara’s founder, Amancio Ortega is now the richest man in Europe and has become the third richest person in the world yesterday when Carlos Slim for the second time this year.
The founder of Inditex SA, the world’s largest fashion retailer, has increased his fortune to $68 billion. It’s up 79 percent since March 2012, when the Bloomberg Billionaires Index debuted. Inditex operates more than 6,600 stores under brands that include Zara, Massimo Dutti and Pull&Bear.
The sale at the Spanish company have increase 31% since 2012 to $24 billion in the year ended January 2015. The billionaire’s performance has eclipsed that of the three other richest people on the planet:Carlos Slim, and U.S. billionaires Bill Gates and Warren Buffett.
Slim’s fortune has declined 1 percent, to $67.3 billion, since the index debuted while Gates has increased 38 percent and Buffett 62 percent. Ortega has added $7 billion to his fortune since Jan. 1, while Buffett, Gates and Slim have lost a combined $8 billion.
The total fortunes of this four billionaires combined is $293 billon which is about the same size as Israel’s gross domestic product.