Ortega Fashions the World’s Third-Largest Fortune

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Sept. 23 (Bloomberg) -- Bloomberg Billionaires’ Rob LaFranco reports on how Armancio Ortega’s wealth has grown by 57 percent since 2012, catapulting him into the position of the third richest man in the world on the Bloomberg Billionaires Index. He speaks on Bloomberg Television’s “In The Loop.”

Time to badly.

The title is "apple, the beginning of a long decline." and you just had the report that they sold 9 million units.

He basically said no matter what the sales are, what we are seeing are incremental updates from apple.

That there is no game changing product.

They are not reinventing an entire new industry.

They are not showing the kind of ability to come up with new products to capture the public's attention the way steve jobs had.

He is looking at the long- term.

Saying forget about ios seven but what we care about is there something disrupting the market.

Cory booker the new york -- newark mayor tried to live on food stamps for a week.

If memory serves me correctly.

The panera ceo trying to do the same thing?

He finished seven days.

He talked about how incredibly difficult was finding, number one, a grocery store cheap enough to get what he needed.

He tried to live a healthy diet but he could not buy vegetables, could not buy fruit, yogurt.

He talked about being pushed into buying high-fat, high calorie's that and other carbohydrate-heavy meals and being hungry all the time.

$31.50 each day.

That was number five.

What interviewers wished they could ask every candidate.

What is going through the might of the interviewer -- the minds of the interviewer.

Number one, we want you to get this job, so sell yourself.

Ask questions but not about the work-life balance.

If i come in half hour early, can i get more for lunch?

Those aren't the right questions.

Ask about the job.

Come in with a big project that you want to do and be aggressive.

Have a hoax.

If you are interviewing a ton of people, it is hard to remember the people you're interviewing so have something that sets you apart.

Very interesting.

Always insightful articles that get circulated.

Angst so much.

Executive editor at linkedin and reminder, check out my linkedin page.

One stop on our bloomberg west radar is netflix.

Shares of slightly higher.

The subscription video service won its first emmy ever last night, david fincher from "house of cards" starring kevin spacey.

Symbolically it is a big victory but because of who ultimately owns "house of cards," the wind may not boost netflix's bottom line.

Jon erlichman explains.

It's going to be a big year for us.

Indeed, it has been a big year for netflix and its original series "house of cards." netflix reportedly spent $100 million the first two seasons, and financial bet that was hardly a sure thing.

A big bet without a sure outcome.

I think that team deserves a lot of credit were taking the risk.

It has truly paid off.

Original shows like "house of cards" making netflix must see tv.

The service now has 38 million streaming subscribers, up 36% from the same time last year.

Winning hollywood awards like enemies can provide a further financial shot in the arm.

Higher property value.

Unlike rival -- rival hbo which owns most of the original programming in the channels, netflix is in licensing.

While "house of cards" streams first on netflix it is produced and owned by media rights capital and he licenses it to sony television so if you buy a dvd on amazon, that money does not go on netflix.

"arrested development" -- is produced and owned by fox.

And all "orange is the new black was quote is produced by lions gate.

More and more i can see them taking more risks and try to own part or all of the shows.

That flex has hinted it may move in that direction as part of a bigger picture plan to keep subscriber numbers climbing.

One bite at a time.

Well, for more on netflix's historic win, senior west coast correspondent jon erlichman is in l.a. and joins us now.

What is the buzz surrounding netflix now in hollywood after this win?

I think the story in a lot of ways has changed.

When the story first surfaced about spending in the neighborhood of $100 million on the show, a lot of traditional players said, good luck to you.

It is a cute idea, netflix, but ultimately you will probably come back to buying our shows for your second window.

The fact that the show -- even though we don't know how it does in ratings because netflix does not share that -- the fact that wins an emmy, a visa big moments in the shift we are seeing in hollywood.

A very big moment.

You can make the argument that "breaking bad" big night was a win for netflix question mark the creator of the breaking that -- many times he has said it on "bloomberg ," that without netflix we would not be at this point.

That it gains traction thanks to being on netflix.

The same story could be true for "arrested development," which obviously netflix came back with their own exclusive season of the show which used to be on fox.

People were watching it on netflix.

So, the advantage netflix has had his knowing what interviewers want, whether it is old shows or the new shows that it is creating.

Basically that is what it has been working on and will probably do more of.

John, thank you.

Catch jon for the latest on tech and media and everything hollywood, 1:00 p.m. only on "bloomberg west." the man who built the zaro entire is building on his status.

Now the world's third richest man.

In a moment.

? time for the global outlook.

It is a favorite brand of kate middleton and it is not good she or product but zara, and the man behind it, amancio ortega, has seen his net worth rise 60% the last 14 months.

Who is behind this growth?

Robert, tell us exactly how he has seen his wealth soar?

It has been a really good run for amancio ortega and the zara chain.

They actually -- absolutely dominate the fast fashion industry.

In two ways.

They have multiple distribution and manufacturing centers.

In about six weeks to duplicate what the high-fashion files are -- files are.

And they do it so much more effectively.

And they flirt between the high end of the market in look and feel and discount prices that are important in these times.

They are important.

Tell us how his fortune has risen.

How much is he worth now?

He is now the third richest man, right?

About two weeks ago he surpassed warren buffett for the first time.

It was last summer when he became europe's richest man, which was a pretty significant deal at the time.

Remaining -- remember, spain is one of the most ravaged economies in europe, if not the world, and yet he is the richest man in the region by far and number third richest man in the world.

When we started the index back in march of 2012, he was just below $40 billion but his company since then has consistently beat analyst expectations coming in ebitda margin and revenue growth and continuing to serve.

The richest fashion retail king -- i assume he is, right?

There are none better bigger than him.

It is fashion week now in europe and there is a lot of attention on the product -- pradas and armanis of the world.

French is risk -- france's the just man, $30 billion plus some a with a luxury brand in the sportfolio.

But amancio ortega with the discount end with the look and feel of higher end, nobody richer than amancio ortega.

Now, there's a lot happening in today's session.

Markets report alix steel is here to tell us what is in store with the triple play.

I know we are waiting for microsoft.

Microsoft and the surface.

I am sure they're open we forget apple sold about 9 million phones over the weekend -- i am sure they are hoping to forget.

We will be talking to the general manager of the surface.

For microsoft it will be two- pronged.

They want the money -- market

This text has been automatically generated. It may not be 100% accurate.


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