Amancio Ortega Biography & Net Worth

Amancio Ortega Biography & Net Worth

Amancio Ortega is a prominent Spanish businessman best known as the man who founded the Inditex Fashion Group. His establishment is parent company of the popular fashion brand ZARA that currently boasts of more than 6000 stores in more than 65 countries of the world. As of January 2018, he had an estimated net worth of $77.6 billion which made him the richest man in Europe and fourth on the list of world’s richest men at that time. Ortega is known to be one of the richest merchant in the world. He is said to earn more than$400 million in dividends annually, and has made valuable investments in a booming real estate portfolio that includes properties in Madrid, New York, Chicago, Miami, London, and Barcelona. On a personal front, this business tycoon is a media-shy person. This is the reason majority of people are not aware of his name and fame despite the solid fact that he is behind the founding of one of the biggest fashion labels in the world. This article exists for the purpose of enlightening you on important subjects such as Amancio Ortega’s biography, businesses, financial data, and accomplishments.

Amancio Ortega’s Early Life

Amancio Ortega Gaona was born in Busdongo de Arbas, Leon, Spain on 28 March 1936. He is the son of Antonio Ortega Rodriguez and Josepha Gaona Hernandez, and his parents catered for him as well as his three elder siblings. When he was 14, he dropped out of school and moved to a different town with his father due to his job. He eventually had to start working as well so as to help his family, and he settled with making clothes at a shirt store.

Amancio Ortega’s Career

It can be said that Ortega started his career at a young age working for a shirt maker named Gala as a shop hand. It was at this shop that he learned to make wears by hand.

In 1972, he then founded Confecciones Goa and started the sales of quilted bathrobes. Three years afterwards, he opened the first Zara store along with his first wife, Rosalía. Their business proved to be an instant success and this motivates the couple to expand their flourishing business by opening many more stores across Spain within the next ten years. The Zara fashion label is part of the Inditex group.

In 2011, he announced that he was retiring from the parent company of the Zara fashion chain known as The Inditex Group. The following year, he spent about €20 million in donations to Caritas Internationalis, a Roman Catholic relief organization that is heavily involved in philanthropy.

Today, the Inditex Group owns and controls several other world famous brands besides Zara, such as Pull and Bear, Oysho, Zara Home, and Massimo Dutti. The business enterprise boasts of more than 100,000 employees across its businesses worldwide.  Today, the Zara fashion label has more than 6000 stores in more than 65 countries of the world.

Personal Life & Family

Talking about Ortega’s private life, he is a family man who enjoys taking care of his family as much as he enjoys running his business. He got married to his first wife Rosalía Mera in the 1966. They opened the first Zara store and worked together towards expanding the business until they got divorced in 1986. After this, the business mogul went on to marry for the second time, and wedded Flora Pérez Marcote in the 2001. Today, he is a proud father of three children including Marcos Ortega Mera, Sandra Ortega Mera, and Marta Ortega Pérez.

Despite being very rich and famous, Amancio Ortega is known to be a very humble and respectful man who would do everything he can to stay away from the eyes of the public media. He is known for his trademark way of wearing grey pants and white shirt to work, all non-Zara products. He usually takes his meals at the company’s cafeteria alongside his employees. Another interesting aspect of his life is his habit of not wearing a tie, and also his hobby of riding a horse in his free time.

Amancio Ortega Net Worth

As at the time of filling this report, Amancio Ortega net worth is approximately $73 billion. He has earned his spot on the list of the top 5 richest men in the world and is considered the richest man in the whole of Europe. His massive fortune also ranks him as the richest and most successful retailer in the whole world. He has realized his massive fortune from his globally famous and successful entrepreneurship venture. His fashion company, Zara, which currently has more than 6000 stores in different countries of the world is known to be the biggest booster of his wealth. Sales of his high-class and expensive merchandise has done a great deal for this Spanish business magnate as he reportedly continues to earn a personal net of $400 million and more every year. His valuable assets can be found in many cities around the world and they include costly properties in Madrid, New York, Chicago, Miami, London, and Barcelona.

Mr. Ortega is also the owner of the Torre Picasso. It is the tallest skyscraper in the whole of Spain, and is said to be worth $536 million. He also owns a pricey private jet, and his own equestrian center as a lover of horseback riding. Despite being among the richest individuals in the world, this man leads a very simple and meek lifestyle and his life and entrepreneurial habits are completely worthy of emulation.