Forbes Richest persons on Earth list is out, Bill Gates losses No 1 slot

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Forbes Richest persons on Earth list is out, Bill Gates losses No 1 slot

Amancio Ortega, founder of Zara climbed on top of the Forbes rich list, taking over Microsoft founder Bill Gates. On Tuesday, Ortega, 81, overtook the tech giant Gates on the global rich-list.

The Spanish fashion tycoon, according to Forbes, with his $85 billion fortune, surpassed Gates' $84.9 billion to take the top spot.

Ortega doesn't have the same name recognition as Gates or Amazon founder Jeff Bezos, who became the world's richest man for a short time in July.

His eye-watering net worth is up just shy of $1bn in the space of just a month, according to Forbes, putting him in a seemingly never-ending tussle with Gates and Amazon boss Jeff Bezos.