Pursuits
Billionaire Ortega Europe’s Richest Man as Spain Ravaged by Debt
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Just as Spain asked Europe for a bailout topping $125 billion, Amancio Ortega, the septuagenarian Spaniard who founded retailer Inditex SA, became the region’s richest man.
The tycoon’s fortune rose $3.8 billion to $39.5 billion on June 13, according to the Bloomberg Billionaires Index. That places the owner of the Zara clothing chain above Sweden’s Ingvar Kamprad, who has an estimated net worth of $37.2 billion, and France’s Bernard Arnault, who finished the day at $22.7 billion.