Zara Founder Is The World'S Richest Man.

Now the traditional retail industry has entered the freezing period, and Amancio Ortega, founder of ZARA, has surpassed Bill Gates to become the richest man at this time.

Amancio Ortega's Inditex group, that is,

The parent company of Massimo Dutti and Pull&Bear rose 2.5% on Wednesday, making Oman Theo Ortega's personal wealth increased by $1 billion 700 million.

Now, Ortega's net assets reach 79 billion 500 million dollars, while Bill Gates is 78 billion 500 million dollars.

Ortega was born in a railway worker's family in La Coruna, Spain.

Though very rich, Ortega still lived in deep space.

He first worked as a retail salesperson in his hometown, and then he started his own business.

With less than $100 in start-up capital, Ortega and his wife, Rosalia Mera, began to make underwear, pajamas and nightgowns in their bedroom.

In 1975, two couples decided to open a retail store called ZARA.

Eight years later, Ortega's retail store has opened to nine different locations in Spain.

In the following 1984, he opened a logistics center covering an area of nearly 1000 square meters.

Unlike most retailers, Inditex rarely advertises.

Ortega put most of his resources into the effort to build the company into the most efficient retail group in the world.

When Gap and H&M took five months to complete the design, process, distribution and sales process in 2000, ZARA took three weeks.

This means that Ortega's company can catch up with the change of consumer interest more quickly and reduce inventory effectively.

Ortega's company was officially launched in 2001. He also boarded the Forbes rich list at a price of $6 billion 600 million in the same year.

At that time, Gates was sitting on a fortune of 58 billion 700 million dollars, and he took the title of the richest man in the world.

From 2001 to 2002, when the vast majority of millions of

Ortega's assets increased by $2 billion 500 million when the Internet bubble burst.

This made him the twenty-fifth richest man in the world.

No matter what kind of magic strategy Ortega used, he put on a hat trick in the global economic crisis seven years later.

From 2009 to 2013, when Spain's domestic economy was weak, Ortega's personal wealth increased by $39 billion.

As early as a year ago, in October 2015, Ortega briefly occupied the position of the richest man in the world.

At that time, Inditex shares reached a record high, driving Ortega's personal wealth to $80 billion.

But stocks soon dropped, and Gates returned to the familiar riches of the richest man.

In the future, the two of Ortega and Gates may take turns to occupy the richest position in the world, depending on the volatility of the stocks they hold.

Gates is very keen on charity.

The Foundation donated a total of 31 billion dollars in stock and cash.

If Gates were not such a sincere philanthropist, no one in the world could have access to his wealth.

Of course, this includes Ortega.