Tycoon Amancio Ortega is now World's Richest, worth $79.5billion, beats Bill Gates.

Amancio Ortega, the Spanish founder of the Zara fashion chain, now the world's richest man, with his daughter, Marta

   
The Spanish founder of the Zara fashion chain has overtaken Bill Gates to become the world's richest man.

Amancio Ortega's personal fortune has hit  $79.5billion - beating   the Microsoft co-founder's estimated $78.5billion. Europe's richest man, the 80-year-old - whose glamorous daughter Marta is expected to take over management of the business - now tops the global list. Marta, 31, has  had training at a tender age  at the firm, including stacking shelves.

Despite rumours that she is due to succeed her father, Inditex - parent company to Zara, Massimo Dutti and Pull&Bear - will not confirm her as successor.  

Forbes reported that Ortega became the world's richest man on Wednesday when Inditex shares went up 2.5 per cent. He now has a larger net worth than US investor Warren Buffett and Amazon founder Jeff Bezos.

source: http://www.dailymail.co.uk