Microsoft co-founder Bill Gates had been dominating Forbes list of richest people in the world for 17 years. But the founder of Spanish clothing giant, Zara, just overtook him and put him at second place.
Forbes disclosed that Zara's founder, billionaire Armando Ortega, increased his fortune by $1.7 billion in one day. His retail giant, Inditex had something to do with the boost on his fortune too.
Inditex is actually the parent company for Zara, Pull&Bear, Massimo Duti and some other known brands. His shares of stock with Inditex are the true determinant on how his fortune works.
Ortega's net worth dramatically increased from $77.8 billion to $79.5 billion on Wednesday, which made him notched the first place as the richest man on Earth.
Meanwhile, Microsoft co-founder and known philanthropist Gates moved one notch down with estimated net worth at $78.5 billion.
However, that is not the sole way to determine one's richness and fortune.
This case is likened to the current Republican presidential candidate Donald Trump's fortune dispute.
When one examines Bloomberg's Billionaire's Index, it shows that Gates still rules Forbe's list as his net worth will be estimated at a soaring $89.7 billion and Ortega will be second at $79.2 billion.
Bloomberg substantiated their reports claiming that Gates is still the wealthiest person in the world when his net worth had grown so much this 2016.
In the beginning of 2016, his net worth has been projected at $75 billion but it increased exponentially to $15 billion since then. Hence, Gates still leads comfortably as the richest man with Ortega behind. His net worth comprises of his cash and stock in some companies like Microsoft and some more.
So whoever between Bill Gates and Armando Ortega will be declared the world's wealthiest, the thing is both these men can be acclaimed for their accomplishments in their respective fields and lines of business.
