Revealed: The Richest Men on The Planet 2014
Carlos Slim: A lot of things went wrong for Carlos Slim this year. Mexico passed the anti monopoly telecom and media law. His telecom company America Movil has 70 percent of market share in the telecom market which implies trouble.Anyway, America Movil saw a decline in its assets last year. The price of copper and gold plummeted, so did the share price of his mining company-Minera Frisco.
Minera Frisco share price declined 50 percent within a year. All this contributed to $1 billion decline in his net worth. As a result, he lost his number 1 slot in the list where he was fixated for the last four years. He is placed at number 2 in the list with a net worth of $72 billion.
Amancio Ortega: This reclusive Spanish businessman owes his place in the Forbes list to his fashion brand Zara. Ortego retired as the chairman of Inditex-the parent company of Zara. Inditex also owns Massimo Dutti, Bershka, and Pull and Bear. Zara stores saw 6 percent rise in sales and Inditex has registered 50 percent rise in its share price in the matter of few years. Ortegoa owns 60 percent of Inditex. Forbes evaluates his current net worth at $64 billion-he saw a $19 billion rise in his net worth in last one year. He’s declared the third richest man on earth.
Read More
