Spanish tycoon Amancio Ortega has a net worth of $79 billion. The Forbes’ Billionaires list of 2021 places him as the 11th richest person in the world.
He is the founder and former chairman of Inditex fashion group, a Spanish multinational clothing company commonly known for its brand Zara.
Also, he is the head of the Ortega family, which is the wealthiest family in Europe.
The self-made billionaire was the richest man globally for a brief period of time in 2015, with a peak net worth of $80 billion.
Similarly, Ortega began his career by working in a clothing store in La Coruna at 14, leaving school and the home city due to his father’s job requirement.
Today he is one of the biggest names in fashion and has successfully become the largest clothing retailer, having outranked Gap.
Here are some quick facts about the textile magnate, Amancio Ortega.
|Full Name||Amancio Ortega Gaona|
|Net Worth||$79 Billion|
|Birth Date||28 March 1936|
|Age||86 Years Old|
|Birth Place||Busdongo de Arbas, Leon, Spain|
|Education||Unknown (Dropped out of School)|
|Father’s Name||Antonio Ortega Rodriguez|
|Mother’s Name||Josefa Gaona Hernandez|
|Siblings||Antonio Ortega, Pilar Ortega Gaona, Josefa Ortega Gaona|
|Height||5 ft 8 inches|
|Weight||136 lb (62 kg)|
|Interests||Horseback Riding, Poultry|
|Wife/Spouse||Flora Perez (2001-), Rosalia Mera (1966-1986)|
|Children||Marcos Ortega Mera, Marta Ortega, Sandra Ortega Mera|
|Awards||Castelao Medal, 2017 Philanthropic Initiative, 2009 Grand Cross of the Order of Civil Merit|
|Associations||Zara, Massimo Dutti, Oysho, Zara Home, Kiddy’s Class, Tempe, Stradivarius, Pull and Bear/ Often, Bershka, Uterque|
|Zara’s Merch||Perfume, Blazer, Skinny Jeans|
Amancio Ortega: Income and Net Worth
Amancio Ortega has accumulated a massive net worth of $79 billion through his business portfolio, including fashion, gas, tourism, banks, and real estate holdings worldwide.
Similarly, he has earned more than $4.5 billion in dividends since Inditex’s IPO in 2001. His yearly dividends income exceeds $400 million.
Through his company, Pontegadea, he earned a net income of €1.8 billion in 2019, including €1.64 billion in Inditex’s dividends and €621 million from real estate sale estate assets.
Likewise, in 2021, Ortega made a capital gain of around €400 million from the sale of Telxius towers to ATC.
However, he suffered a loss of $10 billion due to the coronavirus pandemic
Property, Car, Yacht, and Private Jet
Amancio Ortega has a property portfolio worth more than $17.2 billion.
Ortega and his wife, Flora, live in a discreet apartment building in La Coruña, Spain, near the Atlantic Ocean’s major port.
Similarly, in 2016, he purchased the tallest skyscraper in Spain, the Torre Picasso in Madrid. The building stands 515 feet high and costs $536 million.
He also acquired the prestigious Adelphi building in London for an astonishing amount of $550 million.
The 330,000 sq feet property is home to companies such as The Economist, Spotify, and Condé Nast.
He also possesses The Epic Residences & Hotel in Miami, which is considered one of the US’s best luxury hotels.
Likewise, in 2019, his investment firm completed a $72.5 million deal for a downtown Chicago hotel.
Later, he acquired a building in Washington’s central business district and two office blocks in Seattle, US, leased to Amazon.
Ortega’s properties also include landmark properties like Manhattan’s historic Haughwout Building.
Further, he has an equestrian center in Finisterre in Galicia, Spain, where he likes horseback riding.
Amancio Ortega drives an Audi A8 luxury sedan. It features Audi’s innovative Quattro 4-wheel drive, with a user-friendly multimedia interface.
Similarly, the car also has exceptional features such as 8-speed transmission, adjustable suspension, providing exceptional luxury and comfort.
His cars also include a Mercedes-Benz-S-Class (w221) and a black Mercedes-Benz GL Class (X166).
Ortega owns a €6 million Valoria yacht. He has been seen on the yacht a couple of times with his family.
His yacht was named in honor of the town of Valladolid, where his mother was born. The feature-packed yacht is 31.5 meters long and 6.38 meters wide.
Similarly, the fashion mogul also owns an $80 million superyacht Drizzle. The 67-meter luxurious vehicle can reach a top speed of 16 knots and has ample space for entertainment and relaxation.
Ortega has a $45 million Global Express BD700 private jet designed by Bombardier.
This twin-engined jet has the ability to fly to intercontinental destinations with only one refueling stop.
Likewise, the Express can fly up to 18 passengers and contains a galley, crew rest station, lounge area, stateroom, wardrobe, and shower.
Further, he possesses the Gulfstream G650 jet, which has a price tag of $65 million. It is one of the most popular aircraft amount UHNW individuals.
Amancio Ortega: Lifestyle and Vacations
Despite his age, Ortega spends a considerable amount of time in the gym.
However, he leads a simple life and likes to wear casual blue jeans and a T-shirt instead of executive suits.
Ortega is a shy person. In 2012, Bloomberg reported that he had given interviews to only 3 journalists to date.
Similarly, Ortega hates wearing a tie, and the last time he had worn it was at his wedding. This has also spread to Zara executives who do not wear ties!
He doesn’t like to be surrounded by bodyguards but wants to be a free man and walk without security.
Amancio Ortega is a workaholic who rarely goes on vacation. However, his favorite getaway for a summer break in Greece, according to his biographer Covadonga O’Shea.
In 2017, he was on vacation in St Tropez with his family members. He was pictured relaxing in his yacht Drizzle, going for a swim in the Mediterranean Sea,
Amancio Ortega: Charity
Fundacion Paideia was founded by the Ortega couple in 1986.
It provides training and education to people with physical and mental disabilities and promotes employment, entrepreneurship, youth mobility, territorial development, etc.
He is also the President of The Amancio Ortega Foundation set up in 2001.
It is a not-for-profit institution that promotes education, culture, research, social actions, and welfare.
Likewise, in 2012, he donated €20 million to Caritas International, an organization working to support the Roman Catholics.
He also donated €300 million to fund equipment to fight cancer in Spain. It helped to equip Spanish hospitals with radiotherapy machines.
Documentary, Investments, Endorsements, and Book Publications
The documentary Zara: The World’s Richest Man in 2016 explores Ortega’s success with his brand Zara.
Prime Entertainment Group released the informative documentary in 2016.
Ortega holds 59.3% shares held in Inditex SA, the world’s biggest apparel retailer.
It has more than 6000 stores globally and employs an excess of 92,000 people.
He is also the executive chairman of Pontegadea Group, his personal investment company based on real estate, with a portfolio of €15.163 m as of 2020.
He also controls a 21.6% stake in land company Grilse, a company whose line of business includes renting, buying, selling, and appraising real estate.
Besides, Ortega acquired around 10% of the telecom unit Telxius in 2018 for €378.8 million and bought 5% shares of the Spanish natural gas company Enagas in 2019.
Amancio Ortega does not endorse any products or brands. He never ran advertisement campaigns for his brand Zara; its exponential growth was possible through word of mouth.
The Man from Zara: The Story of the Genius Behind the Inditex Group is a book authored by Ortega’s close friend Covadonga O’Shea.
It is a biography of Amancio Ortega, which includes his life story and success story.
Amancio Ortega: Career
Ortega started his career by working for a shirtmaker, learning the trade tricks before establishing his own clothing line.
At the age of 36, Ortega sold quilted bathrobes through his company Confecciones Goa, created with his siblings and future wife, Rosalia Mera.
Similarly, he opened the first Zara store in 1975 with his wife in La Coruna. Later in 1985, Ortega incorporated Inditex SA, which became the holding company of Zara.
His business model of bringing new products quickly to the market elevated Zara to greater heights.
Soon, he expanded his business to the US, Portugal, and France.
By the dawn of the 2000s, he had brands such as Massimo Dutti and Pull & Bear under its lead.
Likewise, in 2001, Inditex provided a public offering worth $2.7 billion, paving the way for further business expansion.
Within the next 10 years, Ortega’s business became the world’s largest retailer, with a presence in 77 countries and more than 5000 stores.
Similarly, Ortega retired from Chairman of Inditex in 2011 but continues to remain its majority shareholder to date.
3 Facts about Amancio Ortega
Zara is one of the popular clothing brands, which Ortega founded. However, he had almost named the brand Zorba after his favorite character in the movie Zorba the Greek.
He keeps a very low profile and rarely appears in media. In fact, he made his first public appearance in 2001, and before that, no one had ever seen a picture of him.
Amancio Ortega’s daughter Marta Ortega Perez, 30, is the richest woman in Spain.
She is married to top Spanish equestrian Sergio Moya in 2012 and is speculated to be her father’s successor.
Social Media Presence
Amancio Ortega is not available on social media.
However, his brands have verified handles on sites such as Facebook, Instagram, and Twitter.
What is the market capitalization of Inditex?
Retailing giant Inditex has a market capitalization of $79.3 billion.
What is the net worth of Zara?
According to Forbes, Zara has a net worth of $14.7 billion, making it the 41st most valuable brand.