There's a new name on top of the Forbes rich list

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Bill Gates has long been at the top of the world's rich list, but this time around the world's richest person comes from Europe.

Forbes have once again issued their list of the richest people in the world, and there's a new name atop the pile.

Spain's Amancio Ortega, founder of the Inditiex group that owns clothing brands such as Zara, Pull & Bear and Massimo Dutti, has seen his fortune rise since the last list and is now the richest man in the world.

The magazine values his fortune at $78.6 billion, up an impressive $2.1 billion in the last year, and placing him above Bill Gates on the real time list, who comes in second with a mere $78.1 billion to his name.

The rest of the top five list is rounded out by Warren Buffet, whose multinational company Berkshire Hathaway has interests in a number of fields from insurance to jewelry, Mexican telecoms giant Carlos Slim Helu and Jeff Bezos of Amazon.

The youngest member of the billionaires list is 25-year-old Evan Spiegel, who has a fortune of $2.1 billion thanks to Snapchat, while the oldest is David Rockefeller Sr., who still has $3 billion at the age of 100.

Gates still remains on top of the 2015 overall list, while the top five on that ranking includes Larry Ellison of Oracle in place of Amazon's Bezos.

Via Forbes

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