Ortega passes Buffett as world's third richest person

September 14
5:35 AM 2013

The founder of the Zara Clothing chain, regained the title of third richest person in the world. Amancio Ortega, 77, was named top three in the world's wealthiest people, surpassing Berkshire Hathaway Chairman Warren Buffett.

The source of the value was the 20% jump in the value of Inditex SA, the holdings firm of Zara. On the other hand, Berkshire Hathaway's share price fell 5% from it's year long high. With the share value increase, the net worth of Ortega rose to USD58.9 billion, about USD800 million richer compared to Buffett in the Bloomberg Billionaires Index.

Overall, Bill Gates still remained as the world's richest person with a USD72.5 billion fortune. After Microsoft, Gates has a 10% stake in the Canadian National Railway. The value of the shares jumped by 12% this year as the overall performance grew, according to data from Bloomberg Industries.

Coming in second is Carlos Slim and is worth USD66.3 billion. The main investment of Slim is in America Movil SAB, which is Latin America's largest mobile-phone company. The telecommunications firm is now preparing an offer for Royal KPN NV as well as the required regulatory approval.

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