Amancio Ortega, the founder and director of the Inditex Team which owns high road shop Zara, has been named the 3rd richest male in the globe by Bloomberg's Billionaires Index with an estimated fortune of £29. 8 billion ($ 46. 6 billion).
Ortega has pushed US business magnate Warren Buffet down to fourth position on the record which is topped by Mexican telecommunications tycoon Carlos Slim and positions Microsoft founder Invoice Gates in 2nd position.
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He may possibly only be the 3rd richest male in the entire world, but in his home state of Spain he is the richest, getting overtaken IKEA owner Ingvar Kamprad earlier this 12 months. seventy six - 12 months - previous Ortega opened the first Zara retail store in 1975
Freja Beha Erichsen is the encounter of Zara's autumn/ wintertime 2012 key line, and Cara Delevingne is the deal with of the younger TRF line.
Ortega stepped down from the helm of Inditex in July 2011, handing in excess of his presidency to CEO and previous vice-president Pablo Isla. Nonetheless, he however owns 59 for each cent of Inditex.
He is usually labelled a recluse owing to his wish for quiet life out of the limelight. He reportedly proceeds to acquire an energetic purpose in the layout approach of all Inditex's firm's, which also contains Zara Property, Bershka and Massimo Dutti.
Zara has become more and more well-known about the very last 10 years thanks to its potential to create stylish imitations of designer parts at superior avenue rates, as well as its rapid stock turnover. Every season, the store's campaigns draw large title designs such as Lara Stone and Hanne Gaby, and latest stars Freja Beha Erichsen and Cara Delevingne.
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