Amancio Ortega, the co-founder of the clothing brand Zara, is one of the richest people in the world. His net worth is estimated to be over $55 billion because he has a 59.3% share in Inditex, the largest apparel retailer in the world. Additionally, he owns shares in national grid operator Red Electrica and power and gas grid operator REN. The average price-to-book value multiples of five publicly listed rivals are used to appraise his real estate holdings. Ortega, a native of Spain, made his fortune through the expansion of his prosperous fashion business, which now has over 7,000 locations across 90 nations.
Behind Ortega’s incredible fortune is largely Zara’s success, which has made it a household name in the fashion industry. The business is well-known for its fast fashion business strategy, which enables it to quickly make and market fashionable items at competitive rates. With Zara continuously ranking as one of the most lucrative clothes shops in the world, this strategy has shown to be very effective.
In addition to the success of Zara, Ortega has also made smart financial decisions over the years. He is known for being private and media-shy and has famously refused to give interviews or appear in public. This has allowed him to focus on building his business without the distractions of fame or media attention. Ortega has also been a savvy investor, with a diverse portfolio that includes real estate, stocks, and other assets.
Despite his massive wealth, Ortega is known for being a low-key and frugal individual. He is known for wearing simple clothing and living a relatively modest lifestyle, and has donated billions of dollars to charitable causes over the years. This combination of business acumen and charitable giving has helped Ortega cement his place as one of the wealthiest and most respected figures in the business world.