| net worth: | $98.3 billion |
|---|---|
| age: | 88 |
| date of birth: | March 28, 1936 |
| gender: | male |
| high: | 1.73 m (5 ft 8 in) |
| country of origin: | Spain |
| Source of wealth: | entrepreneur |
| Last updated: | July 29, 2024 |
What is Amancio Ortega’s Net Worth?
introduce
As of July 2024, Amancio Ortega Gaona’s net worth is approximately $98.3 billion.
Amancio Ortega Gaona is a Spanish billionaire.
Ortega is the founder and former chairman of the Inditex fashion group, best known for its chain of clothing and accessories stores, Zara.
He is the second richest man in Europe after Bernard Arnault.
early life
Amancio Ortega Gaona was born on March 28, 1936 in León Busongo de Arbas, Spain.
He is the son of Antonia Ortega Rodríguez and Joséfa Gaona Hernández. He spent most of his childhood in León.
Ortega dropped out of school at a very young age and moved to La Coruña at the age of 14.
Soon after, he found a job as a shop assistant at a local shirt manufacturer called Gala, a shop that still sits on the same corner in downtown La Coruña.
Profession
Amancio Ortega, the son of a railroad worker, got his first job at age 14, making shirts by hand.
Unlike Philip Anschutz or David Thomson, Ortega had no family wealth to help him launch his career, so he built his business independently.
In 1963, he founded Confecciones Goa, a company that sold quilted bathrobes, which made him a lot of money.
After marrying Rosalia Mera Goyenechea in 1966, the two opened the fast fashion company Zara in 1975.
Retail
Since its launch, Amancio Ortega’s Zara brand has opened stores around the world and currently has 2,007 stores.
In 2010, it opened online boutiques in Jordan, Austria, Ireland, Belgium and Luxembourg, becoming one of the most popular brands on the Internet.
In the following years, the online boutique expanded to the United States, Russia, Canada, Mexico, India, Brazil and other countries.
By 2015, Zara had become one of the world’s top brands specializing in clothing and home design.
In 2021, Zara launched its first beauty range, Zara Beauty, a detergent that reduces abrasion during washing.
In the same year, Zara withdrew from Venezuela due to the country’s economic difficulties. In 2023, Zara sold its Russian business to Fashion and More Management, thus withdrawing from Russia.
Zara Controversy
Although Amancio Ortega is no longer as controversial as Elon Musk, his entire career has remained troubled.
In 2007, he faced backlash after a customer complained about swastikas on handbags made by an outside supplier.
Later, Zara faced accusations of anti-Semitism for selling a striped toddler T-shirt with a large yellow star on the chest.
While the design is supposedly based on an Old West sheriff, others think it resembles a concentration camp uniform.
The T-shirt was removed from shelves just hours after it went on sale, and the brand apologized for the misunderstanding.
In 2011, a Zara factory in Brazil closed due to poor working conditions, and the company was subsequently accused of using sweatshops to produce its products.
A few years later, BBC News reported that they had found evidence of child labor in factories in Turkey, and Zara responded that these problems had been addressed.
Recently, the Finnish Occupational Safety and Health Administration found illegal labor practices in four Zara stores.
Ortega’s other investments
In 2009, Amancio Ortega joined the Inditex Group and owned 59.29% of the group’s shares, which include brands such as Zara, Massimo Dutti and Bershka.
After retiring from Inditex in 2011, he purchased the Picasso skyscraper in Madrid and the Epic Residences and Hotel in Miami, Florida.
In 2017, he donated 300 million euros to the Spanish Cancer Foundation and the Spanish Association of Foundations awarded him the Philanthropic Initiative Award.
In the same year, he also defeated Bill Gates to become the richest person in the world, and then Bill Gates surpassed him again.
In 2020, Ortega’s investment company Pontegadea was valued at $17 billion, but he reportedly lost $10 billion due to the pandemic.
As of 2016, he owns about 60% of Inditex, the holding company for Zara and its related chains.
Amancio Ortega Net Worth
As of July 2024, Amancio Ortega’s net worth is estimated to be approximately $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 |
emphasize
Here are some highlights from Amancio Ortega’s career:
- Confecciones Goa founded (1972)
- Zara becomes part of the Inditex Group (2009)
- Ortega owns 60% of Inditex (2016
Amancio Ortega’s favorite quotes
“My life experiences, which have enabled me to grow as a person, an entrepreneur and a citizen, are based on some principles that I consider very valuable: solidarity, understanding, commitment, hard work, reliability and loyalty.” – Amancio Ortega
“We cannot limit ourselves to continuing on the path we have already blazed, we must once again be passionate and meticulous in order to turn ideas and projects into reality in a rapidly evolving world.” – Amancio Ortega
“My true and simple wish is that, through the strategies and activities of the Foundation, my life story, both personal and professional, can reach all those members of society who are in particular need of support and encouragement.” – Amancio Ortega
“Our success in combining strong expansion with new business efficiencies is a result of the combined efforts of our teams at every level of our company.” – Amancio Ortega
Amancio Ortega’s 3 Rules for Success
Now that you know about Amancio Ortega’s net worth and how he achieved his success, let’s look at some lessons we can learn from him:
1. Introverts can also become entrepreneurs
Most entrepreneurs are extroverts, but this is by no means a requirement for success.
Many great entrepreneurs are introverts, and Amancio Ortega is one of them.
Little is known about the retail conglomerate as he goes to great lengths to avoid talking to the media. He once said:
“You have to be in the newspaper three times: when you are born, when you get married, and when you die.”
Even if you’re not the life of the party, don’t get discouraged because you can still run a profitable business.
2. Stay humble
Being successful in life doesn’t mean you can’t remain humble and modest.
Possessing these traits can be very beneficial in both your professional and personal life.
Studies have found that humility can help us better cope with anxiety, become better leaders and workers, have greater self-control, and be more willing to help others.
3. Good things come to those who wait
Although ten years may seem like a long time to start a business, it is worth it.
Patience allows you to wait, observe, and know when to act in all areas of your life. With patience, you don’t act inappropriately or irrationally, but can step back, regroup, and make the best decision.
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 88 years old.
How tall is Amancio Ortega?
Amancio Ortega’s height is 1.73 meters, which is equivalent to 5 feet 8 inches.
Summary
Amancio Ortega is one of Europe’s wealthiest businessmen and fashion founders.
He is the man behind some of the most famous 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? Leave a comment below.
Categories: Net Worth
Source: svlsf.edu.vn