Bill Gates Bounces Back As World’s Richest Man After Losing Spot To Spanish Ortega

BrandPower Magazine 26/10/2015Last Updated: 26/10/2015

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Bill Gates ($79.4 Billion) of United States dethroned Amancio Ortega ($78 Billion) of Spain to become the world richest person

“After momentarily losing his position at the top to Spanish retail giant, Amancio Ortega of Zara fame, Bill Gates on Friday morning reclaimed his position as the world’s richest man.

Gates had briefly lost his highly coveted title to Ortega, who was number four on the list before when Ortega’s net worth hit $80 billion as stock in his holding company Industria de Diseño
Textil, better known as Inditex, reaching an all-time high of 33.99 Euros per share.

However, Gates who has held the top spot for 16 of the past 21 years, quickly reclaimed the top ranking after Ortega’s shares slipped slightly to 33.80 Euros as of 10:52 am, Eastern Standard Time, Forbes reported.

The two billionaires will likely swap the title of world’s richest man in the coming days, as shares of Ortega’s Inditex, Gate’s Microsoft MSFT +9.43% and their other holdings continue to bounce up and down.

It would be recalled that this is not the first time Gates would be knocked off the top of the list.
Mexican telecom tycoon, Carlos Slim Helú, and American investor, Warren Buffett, had knocked Gates off his throne in the past but the last was the first time Ortega claimed the top spot.

The four of the 10 wealthiest men in the world according to Forbes are as follow:
Bill Gates $79.4 Billion Microsoft, United States, Amancio Ortega $78 Billion Zara, Spain,Warren Buffett $64.6 Billion Berkshire Hathaway, United States, Carlos Slim Helu $62.5 Billion telecom, Mexico