Amancio Ortega

Cofounder, Inditex Group

Birth DetailsMarch 28, 1936 | Busdongo de Arbas, Spain

NationalitySpanish

LeagueBusiness Leader

EducationSchool dropout

Net Worth$65.6 billion (as of August 21, 2020)

Amancio Ortega's Assets:

Inditex
Pontegadea Inversiones

Amancio Ortega's Journey so far ...

Amancio Ortega was 13 when he first started working at a clothing store in La Coruna, Spain
In the years to come, he worked in various positions for different garment companies learning the tricks of the trade
In 1963, he partnered with his siblings, and future-wife Rosalia Mera, to start his own company. Named Confecciones Goa, the company produced women’s bathrobes
In 1975, he opened the first ready-to-wear clothing store of Zara in La Coruna
In 1985, he found Inditex which became the officially incorporated holding company of Zara
The company was based on the philosophy of fast fashion. Ortega used a highly efficient manufacturing process and designers to bring runway fashions to stores within a matter of weeks, and that too at costs that were affordable by most people
His business model was a success and he soon expanded to Portugal, France and the US
By the end of the ‘90s, Inditex included brands such as Massimo Dutti and Pull&Bear under its umbrella
Inditex opened to the public in 2001 raising $2.7 billion
By 2010, Ortega’s business had become one of the largest clothing retailers in the world with presence in 77 countries and more than 5,000 stores
In 2011, Ortega relinquished his position as chairman of Inditex but continued to be the largest shareholder of the company
In 2015, he briefly overshadowed Bill Gates to become the world’s richest person
Today, Inditex is the world’s largest fashion retailer with an estimated revenue of $31 billion in 2019 and Ortega owns 59% of it
Apart from his clothing empire, Ortega has also extensively invested in real estate
He owns properties worth $17.2 billion, spread across the globe, through his holding company, Pontegadea
His property holdings include the tallest office tower and a luxury hotel in Miami, the tallest building in Spain, the Seattle offices of Facebook and Amazon, as well as stores of rivals Hennes & Mauritz AB and The Gap Inc
Ortega acquired around 10% of the telecom company Telefonica SA’s tower unit Telxius in 2018 and bought 5% shares of the Spanish energy company Enagas in 2019

Before you go ...

Ortega is known to be a very private person and despite being the founder of a fashion company, dresses modestly
He is fond of horseback riding and has an equestrian centre in Spain

Last Updated: 12/02/2021

Amancio Ortega News

7,400 stores, $147 billion fortune, zero interviews; meet the most powerful man in fashion you never see
Amancio Ortega built the Zara empire from a small clothing job in Spain to a global retail business worth billions. Today, Inditex operates in more than 200 markets and remains the world’s largest fast fashion retailer. Ortega changed fashion forever through speed, affordable style, and customer-driven retail strategy.
When Mukesh Ambani surpassed Bill Gates to become the world’s richest man
All the times that Bill Gates lost the top spot on world’s richest man list.
Bezos rises to become world's second richest with Amazon surge
Bezos has a net worth of $75.6 billion on the Bloomberg Billionaires Index, $700 million more than Buffett and $1.3 billion above Ortega.
Bill Gates could soon become world's 1st trillionaire
According to a report, the world would get its first trillionaire in the next 25 years.
Amazon's Jeff Bezos world's third-richest, surpasses Warren Buffett: Forbes
Amazon has reported robust second-quarter earnings, with the company posting a profit of USD 857 million, significantly up from USD 92 million a year ago.
World’s top fortunes fall $196.2 billion since Brexit bombshell
The billionaires on the index control $3.8 trillion, a 1.8 percent decline from the start of the year, according to the Bloomberg Billionaires Index.
World’s 400 richest people lose $127 billion on Brexit
The billionaires lost 3.2 percent of their total net worth, bringing the combined sum to $3.9 trillion, according to the Bloomberg Billionaires Index.
Mukesh Ambani richest Indian, net worth jumps 30% to $26 bn
Industrialist Mukesh Ambani remains India's richest person with a sharp surge of 30 per cent in his net worth to USD 26 billion, pushing his global rank.
Amazon's Jeff Bezos doubled wealth in a year when world's richest got poorer
Ortega's 20 percent rise was still $19 billion short of the increase for the year’s top-gainer, Amazon.com founder Jeff Bezos.
At $86 billion Bill Gates world's richest self-made billionaire: Wealth-X report
Microsoft co-founder Bill Gates is the world's richest self-made billionaire with a personal fortune totaling nearly $86 billion, according to Wealth-X.
Bill Gates, Amancio Ortega & Warren Buffett: The three wise men of money
There has been a change in the world's wealth order. Amancio Ortega of Zara has overtaken Warren Buffett as the second richest person in the world after Bill Gates
Amancio Ortega passes Warren Buffett as world’s second richest person in Bloomberg Billionaires Index
Ortega’s net worth has increased 17 percent to $71.5 billion this year as Inditex profit rose amid surging sales.
Warren Buffet could have been worth $102 billion
Bloomberg News reported that Buffett was recently passed by Amancio Ortega, the Spanish fashion magnate, as the world's second-richest person.
Zara owner Inditex says profit edged higher
Inditex's global performance has helped it do well despite conditions in home country Spain, struggling to emerge from a two-year recession and severe unemployment.
Bill Gates reclaims world’s richest title
Bill Gates captured the title of world’s richest man from Mexican investor Carlos Slim, according to the Bloomberg Billionaires Index.
Warren Buffett unseats Amancio Ortega to become world's 3rd richest person
Forbes today said legendary investor Warren Buffett has become the world's third richest person, unseating Zara billionaire Amancio Ortega.
Mukesh Ambani wealthiest Indian on Forbes' rich list, networth $21.5 billion
Ambani, 55, with a net worth of $21.5 billion is 22nd on the US business magazine's 27th annual ranking released on Monday.
Zara's Indian unit Inditex Trent made profits in two out of the three years
Zara has replicated a model that has worked for it globally - creating affordable, copycat versions of the latest fashions.
Mukesh Ambani 18th richest man in world: Index
Indian business magnate Mukesh Ambani is the 18th richest person in the world with a personal wealth of $24.7 billion in 2012, according to the Bloomberg Billionaires Index.
Amancio Ortega's wealth soars even as his country battles recession
Ortega's wealth is soaring even as his country battles an economic meltdown. Spain's unemployment is hovering around 25% as the country suffers its second recession since 2009.
World's wealthiest drop $18 bn as earnings disappoint
The 100 richest people on the planet dropped $17.7 bn from their collective net worth this week after disappointing corporate earnings in the US .
Decision on Massimo Dutti's India foray today
The world's largest clothing retailer Inditex will know the fate of its year-old investment proposal for India at a Foreign Investment Promotion Board meeting on Friday.
Inditex SA, the owner of the Zara pips Telefonica as Spain's biggest company
This year, Inditex also overtook Banco Santander SA, now Spain's third-biggest company by market value, as the bank's shares fell amid the euro crisis.
Trent eyes Inditex JVs, ends ties with Benetton
Trent is in discussions with Inditex to float two new joint ventures for bringing super-premium apparel brand Massimo Dutti.
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