• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

Jamie Dimon and his wife, Judith, donate $12 million to 12 HBCUs—betting they're the 'springboard to success' for the next generation

2

Dolly Parton’s philanthropy inspiration was her father who couldn't read or write: 'I saw how crippling that could be'

3

Less than 300 million barrels left: the engineering limits threatening the American Strategic Petroleum Reserve

1

Jamie Dimon and his wife, Judith, donate $12 million to 12 HBCUs—betting they're the 'springboard to success' for the next generation

2

Dolly Parton’s philanthropy inspiration was her father who couldn't read or write: 'I saw how crippling that could be'

3

Less than 300 million barrels left: the engineering limits threatening the American Strategic Petroleum Reserve
FinanceBillionaires

The Founder of Zara May Have Just Become the World’s Richest Man

By
Michelle Toh
Michelle Toh
Down Arrow Button Icon
By
Michelle Toh
Michelle Toh
Down Arrow Button Icon
September 9, 2016, 5:56 AM ET
Add Fortune on Google for similar content.

Just weeks after Bill Gates’ estimated net worth was said to hit a record high, the billionaire behind Spanish clothing giant Zara has dethroned the Microsoft (MSFT) co-founder, according to Forbes.

The magazine reports that Amancio Ortega’s net worth reached somewhere “from $77.8 billion to $79.5 billion” on Wednesday, taking the number one spot from Gates, whose wealth Forbes estimated at $78.5 billion. According to those findings, shares in Ortega’s umbrella company Inditex (ZTSTF)—which owns Zara and fellow clothing retailers Massimo Dutti and Pull&Bear—helped Ortega notch another $1.7 billion that day.

Of course, there are different ways of measuring net worth, as the dispute over GOP presidential nominee Donald Trump’s fortunes continually reminds us. In this case, a look at Bloomberg’s Billionaires index shows Gates still riding high at number one with an estimated $89.7 billion, with Ortega substantially trailing behind at a projected $79.2 billion. (As of press time, the page had last been updated on Sept. 8, the same day as Forbes’ report.)

See also: Here’s How Much Donald Trump’s Net Worth Jumped in the Past 10 Months

Fortune’s Don Reisinger reported on the recent hike in Gates’ estimated net worth in August, writing:

Gates is by far the world’s wealthiest person. His net worth includes both cash and stock in several companies including, of course, Microsoft …

Gates’ wealth has grown substantially in 2016, according to Bloomberg. At the beginning of the year, his net worth was around $75 billion. Since then, he has added about $15 billion. The world’s second-wealthiest individual, Spanish retail executive Amancio Ortega, is worth more than $76 billion, which means that Gates holds a comfortable lead.

See also: Bill Gates’ Net Worth Has Hit a Record High

To squabble over which is the world’s richest billionaire might be missing the point. Whichever he is, both men can be lauded for their accomplishments. After all, in the first year Ortega was christened on Forbes’ billionaires list—2001—he had a net worth of $6.6 billion, according to the magazine. And so, whether his wealth now stands at $79.5 billion or a mere $79.2 billion, Ortega sure has a lot to show for his work since.

About the Author
By Michelle Toh
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Finance


Most Popular

Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • TikTok icon
  • YouTube icon

    Latest in Finance


    Most Popular

    © 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
    FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.