Amancio Ortega, the founder of Spanish shopping chain Zara has overtaken Bill Gates to become the world’s richest man.
Amancio Ortega’s fortune shot up £1.4 billion this week when shares in its parents company rose taking his personal wealth to £67.2 billion .

This sees the 80-year-old pip Microsoft founder Gates’ £66.4 billion fortune as well as other moguls such as US investor Warren Buffett and Amazon founder Jeff Bezos.

The son of a railway worker became the world’s richest man on Wednesday, according to Forbes magazine , when shares of his business Inditex went up 2.5%. Last year shares went up 40% as sales soared.

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