To everyone’s utter surprise, Amancio Ortega, the owner of Inditex SA, the parent company of popular retail stores such as Zara and Pull&Bear is now the second richest man in the world, according to Bloomberg’s 2015 list. He has succeeded in surpassing Warren Buffett, with a net worth of $71,5 billion.
Some things never seem to change, and so it seems that the no. 1 spot on any list regarding the richest men in the world will go to Bill Gates forever and ever. Well, this is the business world we’re talking about, so there is no forever here.
This means that even Mr. Bill Gates needs to stay on top of his game at all times in order to maintain his position from here on, no matter how big Microsoft is. But there has always been a fierce fight over the second place and for a while there, it looked like some kind of a pattern was forming for Warren Buffett.
Again, this is the business world, and Bill Gates is truly a phenomenon. He is one of the few people who can hold on to a pattern. Warren Buffett is not quite there yet, and so his place was taken by Amancio Ortega, this silent climber of the world richest list.
He has made it there by remaining extremely well balanced despite financial success and by implementing extremely successful sales strategies, that are perfectly in line with the public’s demand. Amancio Ortega sells fast fashion and so, he has provided new clothing lines for his customers every six weeks.
And yes, fast fashion comes with certain sacrifices, like the massive outsourcing of the company’s production, but Ortega had no problem with that. He has been producing his garments in China for the past few years, in order to reduce costs, along with all the implications of this part of the fashion industry.
You could even say that his fortune comes from Chinese sweat shops, but that is of no concern to Ortega. In fact, it was exactly the calculated thinking that he employed in the management of his companies that has led him to his current spot, despite the fact that retail companies are going down on the stock market at the moment.
If Amancio Ortega has managed to make a fortune worthy of the second spot on the Bloomberg list by working against the tide, then he has actually demonstrated that he is a business force to be reckoned with.
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