The richest people on the planet added $15.2 billion to their collective net worth this week as global markets rose on speculation that Europe will move to ease borrowing costs in Italy and Spain.
The week’s biggest gainer was Spanish retail tycoon Amancio Ortega, who added $3 billion to his fortune after Inditex, the world’s largest clothing retailer, announced plans to build a 753,000 square-foot logistics center in Spain’s Guadalajara province. Inditex shares were up 3.8 percent for the week.
Ortega’s gain came as Spain’s unemployment rate reached 24.6 percent, the highest on record. With a net worth of $43.5 billion, the 76-year-old is Europe’s richest man, and ranks fourth on the Bloomberg Billionaires Index.