Spanish Billionaire Overtakes Bill Gates As World's Richest

Microsoft founder, Bill Gates was knocked off thr Forbes Billionaires list by Amancia Ortega, 79 year old businessman and founding Chairman of the Inditex fashion group, a company responsible for popular fashion brands such as Zara.
 He overtook Gates as the world’s richest man on Friday with an estimated  $78.7 billion. Gates over took him less than half a day later, and was back at the top spot with an estimated net worth of $79.5 by Friday afternoon.
The son of a railway worker, Ortega was born during the Spanish civil war and grew up in relative poverty. The 79-year-old left school at the age of 13 to work full time in a clothing shop. According to Forbes, he established Zara in 1975 with his ex-wife Rosalia Mera, selling lingerie and bathrobes the couple made in their living room.
According to Forbes,Bill Gates briefly relinquished his title as the world’s richest man to Spanish retail giant Amancio Ortega Friday morning. Ortega’s net worth hit $80 billion as stock in his holding company Industria de Diseño Textil reached an all-time high of 33.99 Euros per share. Gates quickly reclaimed the top ranking after Ortega’s shares slipped slightly to 33.80 Euros as of 10:52 a.m. Eastern Standard Time. The two billionaires will likely swap the title of world’s richest man in the coming days, as shares of Inditex, Microsoft and their other holdings continue to bounce up and down.