Spanish fashion mogul Amancio Ortega is now the World's Richest Man according to Forbes Magazine. The founder of Inditex Group which is known for the world's largest fashion Line, Zara overtook Microsoft founder, Bill Gates for the title. 

In a report with with Fortune Magazine, the self made billionaire is rarely photographed and prefers to stay away from the public eye. Like many self made billionaires, Ortega came from humble beginnings being the youngest child of a railway worker. 

However, due to a 10 percent surge in Microsoft shares on Friday, Gates was put back on the top spot.Ortega's brief stint as "world's richest" on Forbes Magazine came as a "milestone" for all of Spain. 

The Spanish billionaire has transformed Zara into the clothing giant that it is today. Ortega likes to keep a low profile, preferring to wear a simple uniform of a blue blazer, white shirt and grey pants. The 79-year old plays an active part in the design process of the company. 

Ortega also owns a 59.3 percent stake in what is now the world's biggest fashion retailer, which makes it way in the lead of clothing retailer Gap. The company has seen its share of humble beginnings in the region of Galicia. Prior to this, Ortega had worked as a shop hand for a local shirtmaker.

The billionaire announced his retirement from Inditex in 2011 and was taken over by then vice president of Inditex and CEO Pablo Isla.

Ortega currently has more than 6,000 stores in over 90 countries worldwide. Inditex Group owns famous brands such as  Massimo Dutti, Zara Home, Bershka, Pull and Bear and Kiddy's Class and has over 92,000 employees. 

In a report with Starr, Ortega had co-founded Zara with his then wife Rosalia Mera in 1975. The couple started off by selling bathrobes and lingerie. Ortega and Mera had divorced years ago, while his daughter Sandra Ortega Mera, 31 had inherited Rosalia's stake when Mera passed away due suddenly to brain hemorrhage in August 2013. This makes Sandra the second-richest person in Spain, with a net worth of $7.3 billion. 

The Spanish billionaire also likes to talk to his employees and is known to select designs due to employee feedback. 

"If he speaks to a shop assistant and he likes what they had to say, he will pay more attention to that than to any of his managers,"  said a former Inditex director in an interview.