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Spain’s Ortega Overtakes Buffett as World’s Third-Richest

Amancio Ortega, the septuagenarian Spaniard who founded retailer Inditex SA, today bumped Warren Buffett from his perch as the world’s third-richest person.

The 76-year-old tycoon’s fortune rose $1.6 billion to $46.6 billion, according to the Bloomberg Billionaires Index, as shares of Inditex gained 3.8 percent to close at a record. That places the owner of the Zara clothing chain above the Berkshire Hathaway Inc. chairman, who has a net worth of $45.7 billion and had ranked No. 3 on the index since its inception March 5.