Mukesh Ambani, Chairman and Managing Director of Reliance Industries is currently the richest person in Asia. Recently, Amabni witnessed a dip in his position on the world’s billionaire list. According to the Bloomberg Billionaires List, the Asia’s richest man slipped to the 12th position in the list of billionaires with a net worth of $111 billion.
On the other hand, Spanish businessman Amancio Ortega has surpassed Ambani. In just the past two days, Amancio's net worth has risen by around $2 billion, bringing his total to $113 billion, and overtaking Ambani to emerge as the 11th richest person in the world.
Often referred to as the king of the retail sector, Ortega has a net worth exceeding $113 billion and holds a 59% stake in Inditex, the world's largest retail company.
Amancio Ortega's company, Inditex, is the parent company of seven retail brands, including Zara, and operates over 7,400 stores globally. The company's revenue exceeds $34.1 billion. In addition to luxury retail brands, Inditex also owns premium office and retail properties. Ortega's business ventures and investments extend beyond Spain to numerous major countries in both America and Europe.
However, Ortega’s journey to success was also marked with struggles. Ortega, the most prominent businessman in Spain initially began his career as a delivery boy. His father used to work as a labourer in the railways.
Moreover, Ortega also had experience working in a clothing store. He did sewing at a tailor’s shop, where he gained valuable knowledge about the intricacies of clothing. This experience proved beneficial when he started his own business. He first opened a shop, gradually expanding it until he launched his first clothing line in 1963. In 1975, he opened the first ZARA outlet. In 1985, Ortega founded Inditex, and in 2011, he passed the business on to his daughter.
Meanwhile, Elon Musk tops the list of rich people with a massive net worth of $249 billion. He is followed by Amazon founder Jeff Bezos holding a net worth of $ 209 billion. Meta's owner Mark Zuckerberg is at number three with a net worth of $191 billion.
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