| net worth: | $98.3 billion |
|---|---|
| age: | 88 |
| Birth: | March 28, 1936 |
| gender: | Male |
| Height: | 1.73 m (5 ft 8 in) |
| country of origin: | Spain |
| Sources of funds: | entrepreneur |
| Last Updated: | July 29, 2024 |
How much is Amancio Ortega’s net worth?
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Introduction
As of July 2024, Amancio Ortega Gaona’s net worth is approximately $98.3 billion.
You are watching: Amancio Ortega Net Worth
Amancio Ortega Gaona is a Spanish billionaire businessman.
Ortega is the founder and former chairman of the Inditex fashion group, best known for its Zara chain of clothing and accessories stores.
He is the second richest person in Europe after Bernard Arnault.
early life
Amancio Ortega Gaona was born on March 28, 1936 in Busongo de Arbas, Leon, Spain.
He is the son of Antonia Ortega Rodríguez and Josefa Gaona Hernández. He spent most of his childhood in León.
Ortega left school at an early age and moved to A Coruña at the age of 14.
Shortly after, he found work in the shop of a local shirt manufacturer called Gala, which still stands today in the same corner of downtown A Coruña.
Livelihood
Amancio Ortega grew up the son of a railway worker and got his first job at the age of 14, making shirts by hand.
Unlike Philip Anschutz or David Thomson, Ortega did not have family wealth to help him launch his career, so he built his own independently.
In 1963 he founded Confecciones Goa, a business selling quilted bathrobes, which helped him earn a lot of money.
After marrying Rosalia Mera Goyenechea in 1966, the couple founded the fast fashion company Zara in 1975.
retail industry
Since its launch, Amancio Ortega’s Zara brand has opened stores in 2,007 locations worldwide.
In 2010, it became one of the most popular brands online when it opened its online boutiques in Jordan, Austria, Ireland, Belgium and Luxembourg.
In the following years, the online boutique also expanded to countries like the USA, Russia, Canada, Mexico, India, Brazil, etc.
By 2015, Zara had become one of the top global brands specializing in clothing and home design.
In 2021, Zara launched its first beauty line, Zara Beauty, a detergent that reduces friction during wash cycles.
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That same year, Zara left Venezuela following economic struggles in the country, and in 2023, it left Russia after selling its business to Fashion & More Management.
Zara controversy
Although not as controversial as Elon Musk these days, Amancio Ortega has been in trouble throughout his career.
In 2007 he faced severe criticism when a customer complained about a swastika design on a handbag from an outside supplier.
Zara was later accused of anti-Semitism for selling a striped T-shirt for children with a large yellow star across the chest.
Although the design was thought to be based on an old western sheriff’s uniform, others felt it resembled a concentration camp uniform.
The shirt was taken down just hours after it went on sale, and the brand apologised for the misunderstanding.
In 2011, Zara was accused of using sweatshops to produce products when a factory in Brazil was closed due to poor labor conditions.
A few years later, BBC News reported that they had found evidence of child labour in factories in Turkey, and Zara responded that the issue was now resolved.
Recently, the Finnish Occupational Safety and Health Administration detected illegal labor practices in four Zara stores.
Ortega’s other ventures
In 2009, Amancio Ortega became part of the Inditex group, holding a 59.29% stake, which includes the Zara brands, Massimo Dutti, Bershka, etc.
After retiring from Inditex in 2011, he purchased the Torre Picasso skyscraper in Madrid and the Epic Residences and Hotel in Miami, Florida.
In 2017, the Spanish Association of Foundations awarded him the Philanthropic Initiative Award after he donated 300 million euros to cancer foundations in Spain.
That year, he also became the world’s richest person, surpassing Bill Gates, who has now overtaken him again.
In 2020, Ortega’s investment company, Pontegadea, was worth $17 billion, though he reportedly lost $10 billion due to the pandemic.
As of 2016, he owned approximately 60% of Inditex, the holding company of Zara and related chains.
Amancio Ortega Net Worth
As of July 2024, Amancio Ortega’s net worth is estimated to be roughly $98.3 billion.
Amancio Ortega’s net worth as increased over time
| Year | net worth |
|---|---|
| 2009 | $18.3 billion |
| 2010 | $25 billion |
| 2011 | $31 billion |
| 2012 | $57.5 billion |
| 2013 | $57 billion |
| 2014 | $64 billion |
| 2015 | $64.5 billion |
| 2016 | $67 billion |
| 2017 | $71.3 billion |
| 2018 | $70 billion |
| 2019 | $62.7 billion |
| 2020 | $55.1 billion |
| 2021 | $77 billion |
| 2022 | $59.6 billion |
| 2023 | $77.3 billion |
| 2024 | $98.3 billion |
Highlights
Here are some of the best highlights from Amancio Ortega’s career:
- Confectioneries Goa established (1972)
- Zara becomes part of the Inditex group (2009)
- Ortega owned 60% of Inditex (2016)
Favorite quotes from Amancio Ortega
“The life experiences that have developed me as a human being, an entrepreneur and a citizen are based on several principles that I value immensely: solidarity, understanding, commitment, hard work, reliability and integrity.” – Amancio Ortega
“We cannot limit ourselves to following only the path we are already on and once again we have to be enthusiastic and determined to turn ideas and projects into reality in this world that is moving at a very fast pace.” – Amancio Ortega
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“My true and simple wish is that through the Foundation’s strategies and activities, the results of my life experience, both personal and professional, can reach all members of society who may be in special need of support and encouragement.” – Amancio Ortega
“The successful combination of rapid expansion and renewed business efficiency has been made possible by the tireless efforts of our team at all levels of the organization.” – Amancio Ortega
3 rules of success from Amancio Ortega
Now that you know all about Amancio Ortega’s net worth and how he achieved success, let’s look at some lessons we can learn from him:
1. Introverts can succeed as entrepreneurs
Most entrepreneurs are extroverts, but this isn’t necessary for success.
Many great entrepreneurs are introverts and Amancio Ortega is one of them.
Very little is known about the retail business group as he makes great efforts to avoid speaking to the press. He once said:
“You should appear in the newspapers three times: when you are born, when you marry, and when you die.”
Don’t be discouraged if you’re not the life of the party, because you can still run a profitable business.
2. Be polite and courteous
Being successful in life doesn’t mean you can’t be humble and restrained.
Having these qualities can be highly beneficial for both your professional and personal life.
Humility has been found to help us cope with anxiety better, be better leaders and workers, have more self-control, and be more willing to help others.
3. Good things come to those who wait
Although ten years seems like a long time to build a business, it is still worth the effort.
Patience allows you to wait, watch, and know when to act in all aspects of your life. Instead of acting in an unreasonable or irrational way, with patience, you can step back, regroup, and make the best possible decisions.
Frequently Asked Questions
How much is Amancio Ortega worth?
Amancio Ortega’s net worth is estimated at $98.3 billion.
How old is Amancio Ortega?
Amancio Ortega was born on March 28, 1936, and is currently 88 years old.
How tall is Amancio Ortega?
Amancio Ortega has a height of 1.73 m, which is equivalent to 5 feet 8 inches.
Summary
Amancio Ortega is one of Europe’s wealthiest businessmen and fashion founders.
He is behind some of the most well-known brands like Breshka, Zara, and Tempe.
As of July 2024, Amancio Ortega’s net worth is estimated to be approximately $98.3 billion, making him one of the richest entrepreneurs in the world.
What do you think about Amancio Ortega’s net worth? Comment below.
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Category: Net worth