What Is Spanish Billionaire and Zara Founder Amancio Ortega's Net Worth?

Amancio Ortega's Net Worth

Amancio Ortega Gaona is a Spanish fashion entrepreneur and founder of Zara's parent company Inditex. He is Spain’s richest man and known for keeping a low profile. He has been living his life peacefully as one of the richest people on the planet. While he is not the richest person in the world, he is one of the richest individuals alive with a net worth of $70 billion. 

Amancio Ortega's Sources of Income

Amancio Ortega owns around 59% of Inditex, which is the world's largest clothing retailer. Apart from Zara, he owns other companies such as Massimo Dutti, Pull&Bear, Stradivarius, and more. According to Bloomberg, since the parent company's IPO in 2001, Ortega has received more than 9 billion euros or more than $10 billion in dividends.

Personal Wealth

He was the richest person in the world overtaking Bill Gates in 2015 when the Inditex stock peaked. He belongs to one of the wealthiest families in all of Europe and all the members in the family are successful in their fields. He is the second-richest retailer in the world. He also has a 21.6 percent stake in real estate giant Grilse. 

Amancio Ortega's Career

Amancio Ortega Gaona was born in Leon, Spain on March 28, 1936. He stayed in Leon until his father relocated to A Coruna. He was 14 when he settled in A Coruna and started working at a local shop that used to make shirts. He learned how to make clothes by hand which later ignited his passion for clothing. His career trajectory is a little blurry after this point but it was reported that he used to sell bathrobes.

He launched his brand Zara with his first wife in 1972 and by the year 2000, the company went public and Zara became part of the Inditex group. Today, the group employs more than  92,000 people and has 5,815 stores worldwide. The man is very close to his daughter from his first marriage Marta Ortega. She is the one who became the chairwoman after Amancio Ortega retired in 2011.

However, he is still involved in real estate, and since his retirement, he has purchased many properties in Madrid and commercial properties like hotels in Miami. In 2019, it was reported that he bought the building in Seattle that had Amazon's headquarters in it. 

Amancio Ortega's Personal life

The Zara founder has been married twice and is the father of three children. He was married to Rosalia Mera from 1966 to 1986. He married again in 2001. His ex-wife was the richest woman in Soauin until she passed away in 2013 at the age of 69. According to reports, he hardly takes holidays, and his first vacation was in 2001 after Inditex's initial public offering.

Amancio Ortega's Real Estate

As per Insider, most of his cash is reinvested in real estate through the company's investment department. In 2011, he bought the tallest skyscraper in Spain, the 515-foot Torre Picasso in Madrid for an astounding $536 million. He also owns the skyscraper, Cepsa Tower, in Madrid that he bought for $551 million. He owns the Epic Residences, a high-end Bayfront iconic condo, and a 45-story luxury apartment building in Miami. In 2015, he decided to pay $370 million for an entire block of prime property in Miami Beach. He also has an office block in London's affluent Mayfair neighborhood that borders Hyde Park. 

FAQs

How did Amancio Ortega start Zara?

He started the company in 1975 with his then-wife Rosalia Mera. The two of them opened the company's first fashion store in Galicia Spain. 

Why is Zara so famous?

They are known for being the pioneers of fast fashion.