Amancio Ortega Gaona (born March 28, 1936) is a Spanish billionaire entrepreneur, best known as the founder and former chairman of Inditex, the multinational fashion group behind prominent brands like Zara and Bershka. He is widely recognized as a pioneer in the fast fashion industry. As of September 2024, Ortega's net worth is estimated at $134.3 billion, making him the second wealthiest individual in Europe, after Bernard Arnault, and the 11th richest person globally. In 2015, he briefly held the title of the world's richest person, surpassing Bill Gates, when his wealth peaked at $80 billion as the stock value of Inditex surged.
Ortega is the head of the Ortega family and ranks as the second wealthiest retailer worldwide.
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| Born | 28 March 1936 Busdongo de Arbas, Spain |
| Board | Inditex |
| Occupations | Businessman |
| Known for | Co-founder of Inditex Group Richest person in Spain |
| Spouse | Rosalía Mera (m. 1966; div. 1986) Flora Pérez Marcote (m. 2001) |
| Children | 3 |
| Awards | Order of Civil Merit |
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Early Life
Amancio Ortega Gaona was born on March 28, 1936, in Busdongo de Arbas, León, Spain, to Antonio Ortega Rodríguez and Josefa Gaona Hernández. He was the youngest of four children. Ortega spent his childhood in Tolosa, Gipuzkoa, before moving to A Coruña at the age of 14 due to his father's work as a railway worker. Upon his arrival in A Coruña, Ortega found a job as a shop hand at Gala, a local shirtmaker. It was during this time that he learned the art of making clothes by hand.
Career
Ortega's career in fashion began in 1963 when he founded Confecciones Goa, a company selling quilted bathrobes. However, his big break came in 1975, when he opened the first Zara store with his then-wife Rosalía Mera. Over the next few decades, Zara became a leader in the fast fashion industry, known for its ability to quickly adapt to changing fashion trends. Under Ortega’s leadership, the company expanded its brand portfolio and grew into the Inditex group, which includes brands like Massimo Dutti, Oysho, Stradivarius, Pull and Bear, and Bershka. By 2009, Inditex had over 6,000 stores globally and employed more than 92,000 people.
Ortega's reputation as a visionary in retail is marked by his ability to adapt business practices and lead through innovation, often bypassing traditional retail models for more agile, responsive ones. Despite his immense success, Ortega has maintained a reclusive lifestyle and has only granted interviews to three journalists.
In 2011, Ortega announced his imminent retirement from Inditex, with Pablo Isla, the company’s vice president and CEO, taking over his position.
Real Estate and Investments
In addition to his fashion empire, Ortega is also a prominent figure in real estate investment. Through his investment company, Pontegadea, Ortega controls significant property holdings across Spain and internationally, with key investments in cities like Madrid, Barcelona, Paris, Berlin, London, and Rome. His portfolio includes prime real estate in key business districts, with investments in buildings such as Manhattan's Haughwout Building and Southeast Financial Center in Miami. In 2019, Pontegadea acquired a $72.5 million deal for a Chicago hotel.
In 2020, Ortega's property holdings were valued at $17.2 billion, and his real estate assets are part of a diversified investment strategy that includes energy companies like Enagás, Red Eléctrica, and Redes Energéticas Nacionais.
Net Worth
As of September 2024, Ortega's net worth is estimated to be $134.3 billion, making him the second-wealthiest person in Europe and the 11th-wealthiest person in the world. His fortune has fluctuated over the years, notably reaching its peak in 2015 when Ortega briefly surpassed Bill Gates to become the richest person globally with a net worth of $80 billion.
Through Inditex, Ortega remains the largest shareholder, controlling approximately 60-65% of the company. His Pontegadea real estate holdings and financial investments further solidify his position as one of the wealthiest individuals in the world.
Philanthropy
Ortega is known for his philanthropic efforts, particularly in healthcare. In 2017, he donated €300 million to fight cancer in Spain, funding the purchase of 440 machines for stereotactic radiotherapy. This donation significantly increased the number of Spanish public hospitals equipped with these advanced machines, boosting the country's cancer treatment capabilities.
In addition to his charitable contributions to healthcare, Ortega has supported various causes through the years, including a €20 million donation to Caritas Internationalis in 2012.
Personal Life
Ortega is a very private individual who has always kept a low public profile. Until 1999, no photographs of him had been published. He is known for his simple dress style, usually opting for a blue blazer, white shirt, and gray trousers, none of which are products of Zara.
Ortega married Rosalía Mera Goyenechea in 1966, and the couple had two children, Marcos and Sandra Ortega Mera. They divorced in 1986, and Mera passed away in 2013. Ortega later married Flora Pérez Marcote in 2001, with whom he had a daughter, Marta Ortega Pérez.
Despite his vast real estate holdings, Ortega mostly lives in A Coruña, Spain, with his wife. He is also known for owning two yachts, Drizzle and Valoria B, as well as a Gulfstream G650 jet.
References
- Amancio Ortega (no date) Forbes. Available at: https://www.forbes.com/profile/amancio-ortega/ (Accessed: 04 January 2025).
- Behan, A. (no date) Amancio Ortega: Founder of zara and richest person in Spain, Investopedia. Available at: https://www.investopedia.com/terms/a/amancio-ortega.asp (Accessed: 04 January 2025).
- Hogan, C. (2017) 10 random questions, just to start us off ~ 47 plus, 47 Plus. Available at: https://www.47-plus.com/10-random-questions-just-start-us-off/ (Accessed: 04 January 2025).
- Xurxo Lobato (no date) 757 Amancio Ortega Photos & High Res Pictures - Getty Images. Available at: https://www.gettyimages.in/photos/amancio-ortega (Accessed: 04 January 2025).
