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This is a list of Spanish billionaires based on an annual assessment of wealth and assets compiled and published by Forbes magazine in 2023. [1]
World RankNameNet Worth (usd)Source Of Wealth13103 billionTextiles & fashion (Inditex).3446.9 billionInditex. Daughter of Amancio.6244.4 billionSon of Rafael del Pino. Construction ...7873.6 billionSupermarkets (Mercadona).- Education and Early Career
- The Principles of Fast Fashion
- From Manufacturing to Retail: The First Zara Store
- IPO on Madrid Stock Exchange
- Computerized Design and Distribution System
- The Ortega Business Model
- Real Estate Investment Arm: Pontegadea Inmobiliaria
- The Bottom Line
Amancio Ortega Gaona was born in a small village in northern Spain in 1936, at the start of the Spanish Civil War, and moved with his family to Galicia, a region in northwestern Spain, in 1949. His father was an itinerant railway worker, his mother worked as a maid, and the family lived in a row house on the railroad tracks. According to the only a...
By the early 1960s, Ortega had already developed the core operating principles for the business model that would later be called fast fashion. Rather than do what his boss and every other retailer did—purchase inventory and hope that customers would buy it—Ortega knew that he would make more money if he could learn exactly what people wanted, produ...
By 1975, Ortega and his wife were ready to step up to the next level: direct sales to customers. The first Zara boutique, one of the most successful retail formats in history, opened that year in La Coruña and was a huge hit from the start. Over the next 10 years, Ortega took the business through a rapid series of expansion milestones. In 1977, com...
At the turn of the 21st century, as Ortega approached retirement, he decided that taking his family-owned business public was the best path forward. When Inditex listed on the Madrid Stock Exchange at a valuation of €9 billion—one of the most successful initial public offerings(IPOs) of 2001—Ortega's sale of over 20% of his stake made him the wealt...
In the early 1980s, Ortega was one of the first fashion retailers to implement a computerized design and distribution system—and this system overcame his biggest hurdle: the traditional production processes of the clothing industry, which took up to six months from the design stage to retail delivery. Other manufacturers, stuck in the old model, co...
Ortega's business model for Inditex has been so successful for so long that fashion insiders, from competitors to industry analysts, study his strategies carefully. The Economistquoted a Gap executive who said, "I would love to organize our business like Inditex, but I would have to knock the company down and rebuild it from scratch." An executive ...
When Inditex went public in 2001, Ortega established a family office, Pontegadea Inversiones, as the vehicle through which the Ortega family operates as majority shareholders of Inditex. The family office, in turn, channels most investments through Ortega's real estate investment arm, Pontegadea Inmobiliaria, one of the biggest property companies i...
Amancio Ortega developed the business model that would later be called fast fashion, revolutionizing the retail fashion industry and becoming one of the world's richest men in the process. With his wealth, he has also built one of the world's most valuable real estate portfolios.
Jan 31, 2024 · As of January 31, 2024, Amancio Ortega was the wealthiest person in Spain, with an estimated net worth of 100.6 billion U.S. dollars, followed by Sandra Ortega Mera (No. 2, $8.7 billion), Rafael Del (No. 3, $6.0 billion); and Juan Roig (No. 4, $5.4 billion).
Don Amancio Ortega Gaona, OMC (Spanish pronunciation: [aˈmanθjo oɾˈteɣa ɣaˈona]; born 28 March 1936) is a Spanish billionaire businessman. He is the founder and former chairman of Inditex fashion group, best known for its chains of Zara and Bershka clothing and accessories shops.
Jul 5, 2024 · According to the Forbes World's Billionaires List of 2024, Amancio Ortega is the wealthiest Spaniard. Ortega is the founder of Inditex fashion group, known mainly for its Zara and Bershka...
3 days ago · Spanish retail tycoon Amancio Ortega briefly surpassed Microsoft cofounder Bill Gates by mere millions of dollars to become the world’s richest person on Tuesday afternoon.
May 29, 2024 · Amancio Ortega, the man behind fashion brand Zara, is Spain's richest person. His retail empire Inditex helped Ortega build his $108 billion fortune, and he also invests his earnings into an...
