INDITEX GROUP’S AMANCIO ORTEGA IS WORLD’S SECOND RICHEST MAN

Forbes magazine has released its list of the richest billionaires in the world, with Amancio Ortega, chairman of Zara parent Inditex Group, placing second at $70.3 billion behind Bill Gates.

Other fashion industry leaders who made the Forbes list include LVMH’s Bernard Arnault ($34 billion), WalMart heirs Jim Walton ($33.6 billion), Allice Walton ($32.3 billion), and S. Robson Walton ($31.9 billion), former Nike chairman Phil Knight ($24.4 billion), and former H&M CEO Stefan Persson ($20.8 billion).

Also making the list are French business mogul – and majority shareholder of fashion giant Kering — Francois Pinault ($11.5 billion), along with designers Giorgio Armani ($6.1 billion) and Ralph Lauren ($5.5 billion.