Bill Gates no longer the richest man

Zara Fashion Chain Boss Amancio Ortega Overtakes Bill Gates To Become World's Richest Man. The Spanish founder of the Zara fashion chain has overtaken Bill Gates to become the world’s richest man. Amancio Ortega’s personal fortune leapt by $1.7billion this week to $79.5billion – taking the Inditex owner past the Microsoft co-founder’s estimated $78.5billion.

Already 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 undergone training at the firm, including stacking shelves when she was younger.

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.