The overnight boom in tech stocks made a few billionaires even richer when they woke up Friday — and helped Bill Gates fend off a brief challenge to his title as world's richest man.
Citing Forbes' real-time tracker, news reports on Friday said that Spanish retailing tycoon Amancio Ortega's fortune was now worth $79.8 billion, supplanting Gates.
Ortega is the co-founder of Zara, the European clothing empire owned by Inditex, in which he has a reported 60 percent stake. His fortune has been quietly and steadily marching higher over the past few years, in tandem with the company's share gains.
But while Ortega's wealth jumped a reported $4 billion on Thursday, Gates' fortune also got a bump following Microsoft's earnings beat and subsequent share increase.