| Net Worth: | $59.6 billion |
|---|---|
| Date of Birth: | March 28, 1939 (85 years old) |
| Gender: | Male |
| Profession: | Entrepreneur, Businessperson |
| Nationality: | Spain |
What is Amancio Ortega’s Net Worth?
Amancio Ortega Gaona is a Spanish entrepreneur, fashionmonger, and businessman who has a net worth of $59.6 billion. As the creator of Inditex, the holding company for the global fashion powerhouse Zara, Amancio Ortega Gaona amassed his wealth.
Amancio has quietly risen to become one of the richest persons in the world during the past few decades. He is known for maintaining a low profile and is unlikely to be identified while eating in an unassuming American eatery.
The businessman tycoon also makes every effort to keep his personal life securely hidden behind closed doors. As a result, very nothing about Ortega is known besides his financial dealings.
Being among the world’s wealthiest people makes it challenging to evade media attention, though. Amancio formerly held the title of the richest person on earth.
Young life
On March 28, 1936, in Leon, Spain, Amancio Ortega Gaona was born. He was born and groomed in Leon until his father, a railroad worker, moved the family to A Coruna in search of employment.
When Amancio was 14, he quit school after migrating to A Coruna but immediately secured employment at a nearby store that produced shirts on-site. He eventually developed a love for fashion as he gained experience making many types of clothing by hand over the years.
Career
Amancio Ortega founded a business that marketed quilted bathrobes at age 36, but little is known about his subsequent years. Confecciones Goa, the company’s name, was established in 1972.
Three years later, Amancio and his wife Rosalia Mera co-founded the first Zara store, which marked the official start of Ortega’s business.
In order to get ready for Zara’s initial public offering on the stock market in 2001, Amancio Ortega made his first public appearance in the year 2000.
Zara joined the Inditex organization in 2009. 6,000 other stores and brands, such as Massimo Dutti, Tempe, and Pull & Bear, are currently owned and run by the parent business. Over 92,000 individuals are employed by the Inditex organization.
Real Estate
Amancio left his position as an employee of Inditex in 2011. But he is still deeply immersed in the real estate industry. Since his retirement, he has bought hotels in Miami and buildings in Madrid.
The Seattle headquarters of Amazon was said to have been purchased by Ortega in 2019, according to a report.
Personal Relationship
About Amancio Ortega’s personal life, not much is known. He was never depicted in any publicly accessible photographs until 1999. He has only ever given interviews once every three separate times up to this point.
When he is occasionally photographed in front of the public, he wears modest clothing that is not Zara-made.
He wed Rosalia Mera in 1966, but the two later got divorced in 1986. Ortega later remarried in 2001 and has three kids. His wife was once the richest “self-made” woman in the world and the richest woman in Spain because she co-founded Zara.
Unfortunately, at age 69, she passed away in 2013.
Personal Wealth
Amancio Ortega surpassed Bill Gates to become the world’s richest person in a brief period of time in 2015. This was due to the high price of Inditex stocks at the time. Amancio is the head of the Ortega family, the most affluent family in all of Europe.
As a result of the foundation Amancio’s early success created, the Ortegas have grown into a dynasty, and many of his offspring and relatives have achieved extraordinary fortune in a variety of their own pursuits.
Amancio is the second richest person in terms of just retailers. Essentially, the worth of Inditex’s stock may be seen in his wealth. In 2009, Amancio owned 52.9% of the shares of Inditex.
By acquiring 60% of Inditex stock in 2016, he increased his fortune and authority even further.
Since the company’s initial public offering (IPO) in 2001, he has collected dividends totaling more than $4.5 billion.
Amancio has $1.4 billion worth of properties and has made real estate investments in both the US and Europe. He also owns a 21.6 percent share in the massive real estate company Grilse.
His wife Flora and daughter Marta jointly own the remaining shares of the business. Someone close to Ortega confirmed his wealth but asked to remain anonymous.
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