Zara founder just beat out Jeff Bezos to become the second-richest man in the world

Amancio Ortega claimed the No. 2 spot on the list of the world’s richest people on Tuesday, Forbes reported. Amazon founder and CEO Jeff Bezos — who just last week beat out Bill Gates to briefly claim the title of the richest man in the world — dropped to the No. 3 position.

Bezos’ drop is due to Amazon stock fluctuations, as the e-commerce company’s stock has fallen nearly 5% since last Thursday. As of Tuesday afternoon, Forbes estimates Ortega’s net worth to be US$85.5 billion, compared to Bezos’ estimated net worth of US$84.6 billion.

Despite Ortega’s enormous wealth, many people have never heard of him. Ortega is an incredibly private man, is rarely seen in public, and has given just a handful of interviews throughout his incredibly successful career.

That career began when Ortega founded fast-fashion giant Zara with his then-wife Rosalia in 1975. Today, his retail company Inditex SA — which owns Zara, Massimo Dutti, and Pull&Bear — has 7,385 outposts around the world.

While Ortega is immensely private, we do know a fair amount about him. Here’s everything you need to know about the richest man in fashion.

Ashley Lutz and Mallory Schlossberg contributed reporting to an earlier version of this article.

Amancio Ortega is the second-richest man in the world, with a net worth estimated at US$85.5 billion.

Only one person in the world is richer than Ortega: Bill Gates.

Ortega was born in the town of Busdongo de Arbas, Spain, in March 1936. He has been married to his second wife, Flora, since 2001.