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Amancio Ortega EFE
Founder of Spain's Inditex fashion group, which includes Zara, becomes first Spaniard to surpass 100 billion dollars in assets
Finance

Founder of Spain's Inditex fashion group, which includes Zara, becomes first Spaniard to surpass 100 billion dollars in assets

It places Amancio Ortega in 12th position in Forbes' ranking of the richest people in the world

Europa Press

Tuesday, 2 January 2024, 12:15

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The founder of Spain's Inditex fashion group, Amancio Ortega, has become the first Spaniard to exceed 100,000 million dollars of wealth.

The achievement places him as the 12th richest person in the world, according to Forbes. The Galician businessman's fortune amounts to 100,700 million dollars (almost 91 billion euros), a figure that is well above the 81 billion euros with which Forbes Spain ranked him as the richest person in Spain last November.

In the current financial year, the textile company in which Ortega is the majority shareholder, has improved in the markets by more than 35%, which has allowed him to increase his wealth considerably. One of his latest purchases, through his investment arm Pontegadea, included two boutique hotels in the centre of Palma de Mallorca from a Swedish group for 35 million euros, according to sources.

This is not the first time the founder of Inditex has bought hotel properties, as he also owns, among others, one located in Cadiz (Playaballena) and another in New York (Iberostar). Ortega also recently announced the purchase of a logistics warehouse in Miami for 113 million dollars (102.97 million euros).

Ortega owns the largest Spanish real estate company, focused on the purchase and management of large buildings, with a portfolio of real estate assets consisting mainly of office buildings, located in the centre of large cities in Spain, the United Kingdom, the United States and Asia.

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