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.
In August 2013, his ex-wife and Zara cofounder, Rosalia Mera, died at 69. She was Spain’s richest woman. Ortega and Mera married in 1966, and were divorced in 1986.
This is one of his daughters, Marta. The socialite is married to Spain’s top showjumper, Sergio Álvarez Moya.
Ortega and his wife live in a discreet apartment building in La Coruña, Spain, near a major port of the Atlantic Ocean.
The Duchess of Cambridge is a huge fan of Zara’s designs.
Ortega is known for being immensely private. In 2012, Bloomberg noted that he had only granted interviews to three journalists.
He also dresses modestly. He usually wears a simple uniform of a blue blazer, white shirt, and grey trousers — none of which are Zara products. He goes to the same coffee shop every day and eats lunch with his employees in the company cafeteria. In his free time, Ortega is known to enjoy horseback riding and owns an equestrian center in Finisterre in Galicia, Spain.
On the weekends, Ortega reportedly raises goats and chickens at his country home in the Spanish province of Galicia. His immense wealth has allowed him to hobnob with celebrities and royalty. Here he is pictured with Princess Letizia and Crown Prince Felipe of Spain in 2008. The pair are now King and Queen of the country.
He also bought one of the tallest skyscrapers in Spain, the Torre Picasso in Madrid. The building stands at 515 feet and cost US$536 million.
He also bought the Epic Residences and Hotel in Miami, considered to be one of the best luxury hotels in the US.
Ortega drives an Audi A8 luxury sedan that is said to be more about comfort than luxury.
He also owns The Global Express BD-700, a private jet designed by Bombardier, one of the leading manufacturers of luxury private jets. The plane carries a price tag of US$45 million.
But he rarely jets off on vacation. He says he loves working too much to take time off.
Read the original story at Business Insider