Bill Gates is the richest man in the world once again

The Microsoft founder continues to top rich lists with his vast wealth

Bill Gates (AFP)

Bill Gates has been announced as the richest man in the world once again after fresh data has valued his net worth at a staggering $87.4 billion - $20 billion higher than the second person on the same list.

Data provided to Business Insider by Wealth-X, a company which conducts research on the super-wealthy, ranked the philanthropist and Microsoft founder as first in its list of 50 richest people.

Gates is followed by Amancio Ortega, a Spanish businessman and founding chairman of the Inditex fashion group with a net worth of $66.8 billion. His company is responsible for popular fashion brands such as Zara.

Gates’ fellow philanthropist Warren Buffet, the Berkshire Hathaway CEO, came in third with an estimated net worth of $60.7 billion. Buffet has pledged to donate most of his assets to charity as part of his Giving Pledge campaign with Gates.

The top ten are as follows:

10. Ingvar Kamprad - $39.3 bn

9. Michael Bloomberg - $42.1 bn

8. Mark Zuckerberg - $42.8 bn

7. Larry Ellison - $45.3 bn

6. Charles Koch - $48. 8 bn

5. David Koch - $47. 4 bn

4. Jeff Bezos - $56.6 bn

3. Warren Buffet - $60.7 bn

2. Amancio Ortega - $66.8 bn

1. Bill Gates - $87.4 bn

In October, Gates was briefly knocked off the Forbes Billionaires list by Ortega, who is known for leading a modest and fiercely private life despite his vast wealth. He regained his place a few hours later.