Amancio Ortega- chairman of Inditex fashion group
Biography of Amancio Ortega
Amancio Ortega Gaona ( born 28 March 1936) is a Spanish very rich person specialist. He is the originator and previous director of Inditex style gathering, most popular for its chain of Zara apparel and frill shops. As of December 2019, Ortega had total assets of $68.3 billion, making him the second-wealthiest individual in Europe after Bernard Arnault, and the 6th wealthiest on the planet. For a concise timeframe in 2015, he was the most extravagant man on the planet, bypassing Bill Gates when his total assets crested to $80 billion as Zara’s parent organization, Inditex’s, stock topped.
Wealth of Amancio ortega
The majority of Ortega’s fortune is derived from a 59.3% stake in Inditex, the world’s largest clothing retailer. He controls his stake through Arteixo, Spain-based holding companies Pontegadea Inversiones and Partner 2006, according to Inditex’s 2019 annual report.
Since the company’s 2001 initial public offering, Ortega has received more than 9 billion euros ($10 billion) in dividends, based on an analysis of company filings and Bloomberg data. Much of that cash has been spent on a commercial property through closely-held entities, Pontegadea and Partner. His real estate assets are valued using the average price-to-book value multiples of three publicly traded peers: Fonciere Lyonnaise, Eurocommercial Properties and, Realty Income.
The real estate investments of Pontegadea, partner and, Grilse was updated on March 13, 2020, using the 2018 annual reports filed with Registradores de Espana.
He acquired five properties combined total of $2.2 billion through Pontegadea in 2019, according to data compiled from Bloomberg News articles and local media reports. This analysis assumes he paid cash for these investments, which are included as a separate asset since their values aren’t reflected in 2018 results.
He controls 27% of A Coruna, Spain-based Grilse, which owns an equestrian center in Spain and other Property. The rest of the company is owned by his wife Flora and daughter Marta. Grilse is valued using its total 2018 assets, according to private company filings.
He also controls about 5% of Spanish energy company Enagas and acquired a minority stake in Telefonica SA’s tower unit for $440 million in 2018.
liability is included to reflect asset purchases and analysis of dividends, insider transactions, taxes and, market performance.
A person familiar with Ortega’s fortune, who asked not to be identified because his finances are private, said that Bloomberg’s net worth calculation was in line with the billionaire’s holdings.