79-year-old Zara founder surpasses Bill Gates in wealth

The 79-year-old Zara founder has surpassed Bill Gates to become the richest man in the world.

Some information from WIKI:

Zara is the leading retail chain of the Inditex group of companies, owned by Spanish tycoon Amancio Ortega, who also owns brands such as Massimo Dutti, Pull and Bear, Oysho, Zara Home, Uterqüe, Stradivarius, Lefties and Bershka. The main office is located in A Coruña, Spain, where the first store was opened in 1975. Zara is said to take just 2 weeks [1] from a design to a new line on sale, compared to the industry average of 6 months. Moreover, over 10, 000 new designs are developed during the year. Zara has been able to resist the widespread trend in the clothing industry to locate production sites in countries with low production costs. Perhaps they chose the most unusual strategy - the company preferred to invest part of its profits in opening new outlets over advertising costs.

Louis Vuitton's fashion director Daniel Piet described Zara as "arguably the most innovative and disruptive retail chain in the world." Zara has also been described by CNN as a "Spanish Success Story".