Amancio Ortega Gaona Net Worth (Updated 2024)

What’s Amancio Ortega Gaona’s Net Worth?

Amancio Ortega Gaona is a Spanish billionaire businessman and the founder of Inditex, the parent company of the Zara fashion chain. As of 2024, Ortega’s net worth is estimated to be around $111.2 billion.

Ortega owns 59% of Inditex, the world’s largest fashion retailer. Inditex operates over 7,400 stores across brands like Zara, Pull&Bear, Massimo Dutti, Bershka, and others, with revenue of $38.9 billion in 2023. He has received over $10 billion in dividends from Inditex since its 2001 IPO.

In addition to his Inditex stake, a significant portion of Ortega’s wealth comes from an extensive real estate portfolio held through his investment vehicles Pontegadea and Partler. His real estate assets span prime properties across major cities in Spain, the U.S., and other parts of Europe. He also owns minority stakes in Spanish energy companies like Enagas and Redeia.

Born in 1936 to a railroad worker, Ortega started as a shop hand before founding the bathrobe manufacturer Confecciones Goa in 1963. He opened the first Zara store in 1975 and grew it into the Inditex fashion empire over subsequent decades. Known for his extremely private life, Ortega granted only three interviews to journalists until 2012.

Here’s the breakdown of Amancio Ortega Gaona’s net worth:

Name:

Amancio Ortega Gaona

Net Worth:

$111.2 Billion

Date of Birth:

Mar 28, 1936

Profession:

Entrepreneur, Businessperson

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Amancio Ortega Gaona

Early Life

Amancio Ortega Gaona was born on March 28, 1936, in Busdongo de Arbas, a small village in the province of León, Spain. He was the youngest of four children in a family that faced significant financial hardships.

His father, Antonio Ortega Rodríguez, was a railroad worker, and his mother, Josefa Gaona Hernández, worked as a housemaid. The family moved to A Coruña, Galicia, when Ortega was 14 years old due to his father’s job relocation.

Ortega’s early life was marked by poverty, which had a profound impact on him. One pivotal moment occurred when he witnessed his mother being denied credit at a local grocery store, an experience that deeply humiliated him and motivated him to leave school and start working to support his family.

His first job was as a shop assistant at a local shirtmaker called Gala, where he learned the craft of making clothes by hand. This early exposure to the textile industry ignited his passion for fashion and laid the foundation for his future business endeavors.

Career

Amancio Ortega’s career began in earnest when he founded Confecciones Goa in 1963, a company that initially produced quilted bathrobes. This venture marked the beginning of his journey in the fashion industry.

However, the real turning point came in 1975 when he and his then-wife, Rosalía Mera, opened the first Zara store in downtown La Coruña. The store was initially intended to be named “Zorba” after the film “Zorba the Greek,” but due to a local bar with the same name, they settled on “Zara”.

Zara’s success was built on a revolutionary business model known as “fast fashion,” which emphasized rapid production and distribution of trendy, affordable clothing. This model allowed Zara to quickly respond to changing fashion trends and consumer demands, setting it apart from traditional retailers.

By 1985, Ortega had incorporated Zara into a holding company called Inditex (Industria de Diseño Textil, S.A.), which would become the world’s largest fashion retailer.

Under Ortega’s leadership, Inditex expanded rapidly, acquiring other brands such as Massimo Dutti, Pull&Bear, Bershka, Stradivarius, Oysho, and Zara Home. The company went public in 2001, and Ortega’s stake in Inditex made him one of the wealthiest individuals in the world. As of 2023, Inditex operates over 7,400 stores worldwide and employs more than 92,000 people.

Ortega retired from his role as chairman of Inditex in 2011 but remained actively involved in the company’s operations and investments.

Real Estate & Investments

Amancio Ortega Gaona has significantly diversified his wealth through extensive real estate investments. His real estate portfolio is managed by his investment firm, Pontegadea Inversiones, and is considered one of the largest among Europe’s super-wealthy individuals.

As of 2022, Ortega’s real estate holdings were valued at approximately €18.1 billion ($20.1 billion), up from €15.3 billion in 2021. This portfolio includes prime properties in major cities across Europe and the United States, such as New York, London, Madrid, and Miami. Notable acquisitions include Manhattan’s historic Haughwout Building, Miami’s tallest office tower, and a central London office building.

Ortega’s investment strategy focuses on acquiring high-value commercial properties that generate substantial rental income. For instance, Pontegadea’s portfolio includes properties leased to major corporations like Amazon, Facebook, and other tech giants. In 2022 alone, Ortega invested over $1 billion in warehouses and luxury apartment buildings, expanding into logistics and other high-demand sectors.

Pontegadea’s financial performance has been robust, with the firm reporting a net income of €1.8 billion in 2019, including €1.64 billion from Inditex dividends and €621 million from real estate assets. The firm reinvests a significant portion of its earnings into acquiring new properties, maintaining a steady growth trajectory.

In addition to real estate, Ortega has diversified his investments into other sectors, including energy and telecommunications. Pontegadea holds stakes in companies like Enagas, a Spanish energy firm, and has invested in renewable energy projects, such as wind farms operated by Repsol. 

Philanthropy

Ortega is known for his philanthropic efforts. In 2001, he founded the Amancio Ortega Foundation, which focuses on education and social welfare. The foundation has made significant donations, including $344 million to Spanish public hospitals for breast cancer screening and treatment technology and €20 million to Cáritas, an international Roman Catholic charity, to support Spain’s neediest people.

Personal Life

Ortega was first married to Rosalía Mera, with whom he co-founded Zara. The couple had two children, Sandra Ortega Mera and Marcos Ortega Mera, before divorcing in 1986. In 2001, Ortega married Flora Pérez Marcote, who had been an employee at Inditex. They have a daughter, Marta Ortega Pérez, who is considered his potential successor at Inditex.

Ortega leads a relatively low-key lifestyle, often seen wearing simple clothing, typically a blue blazer, white shirt, and gray trousers, none of which are Zara products. He avoids public appearances and has granted very few interviews throughout his career. Until 1999, no photograph of him had ever been published.

Despite his wealth, Ortega enjoys simple pleasures. He is an avid horse rider and owns an equestrian center in Galicia, Spain, where he spends time with his daughter Marta, who shares his passion for horse riding. He also owns two yachts, “Drizzle” and “Valoria B,” and a Gulfstream G650 jet.

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