Recluse behind Zara is now world’s third richest man

MADRID, Mar 5: Spain’s Amancio Ortega, elevated by Forbes to become the third richest person in the world, may have discovered fashion’s secret of eternal youth. The ‘fast fashion’ tycoon’s estimated net worth of $57 billion is built on a formula of endless renewal, with dresses and blouses displayed in thousands of Zara stores worldwide for only a few days before they are taken off the rails and replaced with an even newer line of must-have garments. (agencies)