On January 5, 2012 San Diego's Joe Lizura wrote. This is truly a fantastic story about an incredibly successful man (and his family) who rose from poverty and and a lack of education at the age of 13 to one of the wealthiest men in the world. It shows that anyone can succeed - it's always determination and hard work that will help.
This is a definite "must read" story to start out your new year: http://finance.yahoo.com/blogs/daily-ticker/zara-co-founder-increases-wealth-22-2b-2012-182819240.html
According to the Bloomberg Billionaires Index, the 100 richest people around the globe boosted their net worth by a collective $241 billion over the last 12 months. As of Dec. 31, 2012, these tycoons controlled a combined $1.9 trillion of the world’s wealth.
The biggest winner in 2012 was Amancio Ortega, founder of the Spanish retail conglomerate Inditex SA, says Matt Miller, editor of the Bloomberg Billionaires Index in an interview with The Daily Ticker.
Ortega increased his wealth by $22.2 billion in 2012 – more than the entire fortune of Alisher Usmanov, Russia’s richest man. The massive jump in Ortega’s fortune can be attributed to the 66.7% rise in Inditex SA stock (like most wealthy people, Ortega's wealth is "paper money" i.e. stock holdings).
One of the best-performing companies in the Inditex SA umbrella is Zara, a popular women’s clothing retailer that sells the latest fashion trends at affordable prices. Ortega and his ex-wife started Zara at their Spanish home, designing and stitching together the fabric with help from family members.
Zara has now become a hugely profitable fashion empire with retail storefronts in every major metropolitan city.
Ortega, the third richest person in the world with a net worth of $57.5 billion, grew up poor in Spain and had to drop out of school at the age of 13 to earn money. But Ortega’s rags to riches story is not unique, says Miller. He estimates that three-quarters of the world’s billionaires are self-made.
Joe Lizura
www.twitter.com/joelizura
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