Amancio Ortega- Net Worth, Money and More
Net worth: $57.5 billion
Profession: Spanish Fashion Executive
Amancio Ortega Goana is a Spanish Businessman and the co-founder of the Inditex Fashion group. This fashion group is famous for its brand- Zara. He was born on 28th March in the year 1936 in Busdongo de Arbás, Spain. In the year 2011 he left his post as Chairman of Inditex but still has around sixty percent of the total shares of this company. Amancio is a passionate horse rider and during his free hours he loves to engage in horse riding. He is fond of cars and he loves to drive. He is not a public man and is down to earth.
FROM ZERO TO ALL
Amancio’s father was a railway worker and for this reason they had to move to A Coruna when he was fourteen years old. He started his work as a gofer at a shirt makers shop in the town and has not got any formal education. Ortega had a desire to start up his own business and he worked hard in order to do that. Before being a fashion executive he started Confecciones Goa and with the help of thousands of local woman he started producing and selling quilted bathrobes. With his first wife, Rosalia Mera he started producing lingerie and gown in the house. When he finally learned the business and understood the importance of delivering what the customer wants directly to them. He finally co-founded Zara with his then wife, Rosalia. In the year 1975, he chose one of the most suitable spots to open his first Zara outlet near a known departmental store in La Coruña. Soon Zara became famous without even any advertisements in the world of fashion.
Amancio Ortega stands on the fourth number in the list of the richest people in the world and he is at the top position in the richest people in Europe. His net worth is estimated to be around $57.5 billion. Amancio lives in a tasteful apartment building which he owns in La Coruña in Spain. His real estate portfolio is quite impressing and he has bought much of his property during the downturn. It includes the tallest and most iconic skyscraper in Spain named “The Torre Picasso” which he bought at a price of 536 million US dollars. The list of his belongings also includes “The Epic Residences & Hotel”. The Epic residences & hotel is one of the most luxurious and lavish hotels not only in Miami. But in whole of U.S. Inditex has more than 6000 stores worldwide. It is not surprising to know that a Zara outlet gets opened somewhere in the world every day. He owns a yacht which he has named as the Valoria yacht, which he got for 6 million Euros. He also owns a private jet, Global Express BD700 which he bought for 45 million US dollars.
PERSONAL LIFE AND LIFESTYLE
Many people patronize Amancio’s fashion brand Zara but not many people know Amancio Ortega as he does not like to be in spotlight and he guards his personal life very well. Despite of owing such huge amount of wealth, Amancio prefers to live a modest life. You can spot him in casual clothes even when he owns a world- known fashion Brand- Zara. He also has an equestrian Centre, which is located in Finisterre in Spain. He has been married twice, his first wife is Rosalia Mera, who herself is a billionaire. In the year 1986 Rosalia and Amancio got divorced. He has two children from his first wife. Flora Pérez is his second wife and they got married in the year 2001. They have a 17 year old daughter who is said to be the successor of his entire wealth.
CAUSES HE BELIEVES IN
Amancio is man who believes in charity. Rosalia and Amancio founded “Fundacion PAIDELA”, an organization which helps people with mental and physical disabilities and educate them. He started another foundation in the year 2001 called “The Amancio Ortega Foundation”. This is a non- profit organization which works to enhance and promote education, culture, research and social welfare. He made an initial contribution of 60 million Euros for this foundation.
He has made few public appearances, but his words are very inspiring. Here are few specimens :
- “You must appear three times in the newspapers: when you are born, when you get married, and when you die”.
- “The problem of succession in businesses anywhere in the world arises from the fact that not all legal heirs are suitable”.
- “Die of success? Give me a break! We’ve only just started!”
- “The desire for innovation and constant improvement with which we began this project 36 years ago is the motivating idea which has guided us up to the present time. Now we have the privilege of seeing how this original idea, from which many others, with an open and creative mind, have emerged and continue to emerge, has converted itself into the Inditex Group. “
- “I am the property of my business, not the reverse”.
- “The customer has always driven the business model…”