| Net Worth: | $98.3 Billion |
|---|---|
| Age: | 88 |
| Born: | March 28, 1936 |
| Gender: | Male |
| Height: | 1.73 m (5 ft 8 in) |
| Country of Origin: | Spain |
| Source of Wealth: | Entrepreneur |
| Last Updated: | May 5, 2024 |
What is Amancio Ortega’s net worth?
Introduction
As of May 2024, Amancio Ortega Gaona’s net worth is approximately $98.3 Billion.
Amancio Ortega Gaona is a Spanish billionaire businessman.
Ortega is the founder and former chairman of Inditex fashion group which is best known for its chain Zara clothing and accessories shops.
He is the second-wealthiest person in Europe after Bernard Arnault.
Early Life
Amancio Ortega Gaona was born in Busongo de Arbas, Leon, Spain on the 28th of March, 1936.
He is the son to Antonia Ortega Rodriguez and Josefa Gaona Hernandez. He mostly spent his childhood in Leon.
Ortega left school at an early age and moved to A Coruna at the age of 14.
Shortly after, he found a job as a shop hand for a local shirtmaker called Gala, which still sits on the same corner in downtown A Coruña.
Career
Amancio Ortega grew up as the son of a railway worker and landed his first hand-made shirt job when he was 14.
Unlike Philip Anschutz or David Thomson, Ortega didn’t have family wealth to help him start his career, so he built himself independently.
In 1963, he founded Confecciones Goa, a business selling quilted bathrobes, which helped him earn much money.
After marrying Rosalia Mera Goyenechea in 1966, the couple opened the fast fashion company Zara in 1975.
The Retail Industry
Since its launch, Amancio Ortega’s Zara brand has opened stores worldwide, with 2,007 locations currently.
In 2010, it became one of the most popular brands online when it opened its online boutique in Jordan, Austria, Ireland, Belgium, and Luxembourg.
In subsequent years, the online boutique expanded to include the U.S., Russia, Canada, Mexico, India, Brazil, and more.
By 2015, Zara had become one of the top global brands specializing in clothing and home designs.
In 2021, Zara launched its first beauty line, Zara Beauty, a detergent that reduces abrasion during wash cycles.
The same year, Zara left Venezuela following economic struggles in the country, and in 2023, it left Russia after selling the business there to Fashion and More Management.
Zara Controversies
While not as controversial as Elon Musk nowadays, Amancio Ortega has still been in trouble throughout his career.
In 2007, he faced backlash after a customer complained about a swastika design on a handbag that came from an outside supplier.
Zara later faced accusations of antisemitism for selling a striped toddler t-shirt with a large yellow star on the chest.
Although the design was supposed to be based on an old west sheriff, others felt it resembled a concentration camp uniform.
The shirt was removed a few hours after it went up for sale, and the brand apologized for the misunderstanding.
In 2011, Zara was accused of using sweatshops to produce products after a factory in Brazil was closed for poor labor conditions.
A few years later, BBC News reported they had found evidence of child labor in factories in Turkey, and Zara responded that the issues had since been solved.
Most recently, the Finnish Occupational Safety and Health Administration found illegal labor practices in four Zara stores.
Ortega’s Other Ventures
In 2009, Amancio Ortega became part of the Inditex group, owning 59.29%, which included the Zara brands, Massimo Dutti, Bershka, and more.
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 to cancer foundations in Spain.
That year, he also became the wealthiest man in the world, beating Bill Gates, who has since overtaken him once more.
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 around 60% of Inditex, the holding company for Zara and related chains.
Amancio Ortega Net Worth
As of May 2024, Amancio Ortega’s net worth is estimated to be roughly $98.3 Billion.
Amancio Ortega’s Net Worth 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 of Amancio Ortega’s career:
- Founded Confecciones Goa (1972)
- Zara became a part of the Inditex group (2009)
- Ortega owned 60% of Inditex (2016
Favorite Quotes From Amancio Ortega
“The life experiences which have made me grown as a human being, an entrepreneur and a citizen are based upon a number of principles which I deem deeply valuable: Solidarity, Understanding, Commitment, Hard-work Reliability, and Faithfulness.” – Amancio Ortega
“We cannot limit ourselves to continuing on the path we have already opened and once again we will have to be enthusiastic and exacting in order to convert ideas and projects into reality in a world that is advancing at great speed.” – Amancio Ortega
“My true and simple desire is that, through the strategies and activities of the Foundation, the results of my life experience, both personal and professional, may reach all those members of the society who might be in special need of backing and encouragement.” – Amancio Ortega
“The successful combination of intense expansion and renewed business efficiency has only been possible through the immense effort of our team at all levels of the organization.” – Amancio Ortega
3 Rules for Success from Amancio Ortega
Now that you know all about Amancio Ortega’s net worth and how he achieved success, let’s take a look at some of the lessons we can learn from him:
1. Introverts can thrive as entrepreneurs
Most entrepreneurs are extroverts, but that is by no means necessary for success.
Many great entrepreneurs are introverts, and Amancio Ortega is one of them.
Little is known about the retail conglomerate because he makes a lot of effort to avoid talking to the press. He once said:
“You must appear three times in the newspapers: when you are born, get married, and die.”
Don’t be discouraged if you aren’t the life of the party because you can still run a profitable business.
2. Be humble and modest
Being successful in life doesn’t mean that you can’t still be humble and modest.
Having those traits can be highly beneficial for both your professional and personal lives.
Humility has been found to help us cope better with anxiety, become better leaders and workers, have more self-control, and be more willing to help others.
3. Good things come to those who wait
Even though ten years may seem like an eternity when establishing a business, it paid off.
Patience allows you to wait, watch, and know when to act in all aspects of your life. Instead of acting inappropriately or irrationally, with patience, you can step back, regroup, and make the best decision possible.
Frequently Asked Questions
How much is Amancio Ortega worth?
Amancio Ortega’s net worth is estimated to be $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’s height is 1.73 m, equal to 5 ft 8 in.
Summary
Amancio Ortega is one of the wealthiest businessmen and fashion founders in Europe.
He is behind some of the most famous brands, such as Breshka, Zara, and Tempe.
As of May 2024, Amancio Ortega’s net worth is estimated to be roughly $98.3 Billion, making him one of the richest entrepreneurs in the world.
What do you think about Amancio Ortega’s net worth? Leave a comment below.
