There’s a new richest man in the world. It’s Spanish clothes magnate Amancio Ortega, the founder of the clothing line Zara, has replaced Microsoft founder Bill Gates as the world’s richest person. Ortega and Gates switched the top position in a matter of a few minutes. Currently, Ortega is ahead with a net worth of $78 billion.

The road to becoming the world’s richest person is full of ups and downs. The last few days have witnessed two billionaires going through those ups and downs to sit on the throne and become the world’s richest person.

One the of them is Bill Gates, a name synonymous to the title “World’s Richest Person”. The second one is the co-founder of Zara retail clothing line, Amancio Ortega, whose dramatic stock performance made him climb the world’s billionaires list leaving behind Gates, Buffett, Bezos, and Zuckerberg in the below positions.

Zara’s parent company Inditex’s 2.5% rise on Wednesday made Ortega surpass Bill Gates to become the richest man. The shares dropped by 2.8% on Friday, Ortega fell on to the second position and Gates took the lead. Ortega made a come back after 45 minutes but Gates was again on the first position ten minutes later.

As per Forbes’ The World’s Billionaires real-time list, the Spanish businessman Amancio Ortega is the world’s richest man with a net worth of $78 billion and Bill Gates follows him with $77.6 billion. The stock market can’t be predicted. Hence, the list is likely to change in the coming days or hours.

This isn’t the first time Ortega’s won the world’s richest designation. Back in October 2015, Inditex shares soared, and he claimed the title. But the stocks quickly fell, and Gates returned to the top of the list.

It is anticipated that the honor will continue to change hands as the stock market fluctuates over the coming months.

— via Forbes

Note: The net worth figures mentioned above were observed at the time of writing this post.

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