The Spanish tycoon Amancio Ortega, who started the clothing chain Zara, has been influential for many years. In this article, we embark on an enlightening journey to uncover the latest estimate of Amancio Ortega net worth as of 2023.
What is Amancio Ortega’s Net Worth and Salary in 2023?
As of 2023, Amancio Ortega boasts an impressive net worth of $77.3 billion. Compared to 2022, when his net worth was $59.6 billion, this is a significant rise of $17.7 billion.
Ortega’s exact compensation is unknown, however, he is expected to make $17.7 billion yearly. This totals about $1.475 billion monthly, $340.4 million weekly, and $68.1 million daily.
Amancio Ortega’s Overview
Early Life
Amancio Ortega Gaona was born on March 28, 1936, in Busdongo de Arbas, a small village in the northern Spanish region of León. Amancio’s childhood was difficult because he was the fourth and youngest kid in a poor family.
He grew up in La Corua, Galicia, where his father was a train station agent, and his mother worked as a maid. At 14, Amancio left school to work for a local shirt maker called Gala, where he learned to make clothes by hand.
Career
Amancio Ortega embarked on his illustrious career in the fashion industry in 1963 when he founded Confecciones Goa, a small bathrobe business in La Coruña, Spain.
In 1975, he established the first Zara ready-to-wear clothing store in A Coruña, which quickly gained international fame and became the flagship brand of the holding company Inditex, founded by Ortega in 1985.
In addition, he was also one of the first fashion retailers to implement a computerized design and distribution system, enabling Inditex designers to respond immediately to shifts in consumer taste.
Between the company’s Initial Public Offering (IPO) in 2001 and Ortega’s retirement as Executive Chair in 2011, Inditex’s revenue increased from €3.8 billion to €13.8 billion ($19.1 billion), a fourfold increase.
Since retiring, he has put all of his attention on building up his real estate portfolio, which will be worth an estimated $17.2 billion by 2020, making it the largest among European billionaires.
Personal Life
Amancio Ortega has experienced both love and loss in his personal life. In 1966, he married Rosalía Mera Goyenechea, with whom he had two children, Marcos and Sandra Ortega Mera.
Sadly, the couple split in 1986 after deciding to live separately and apart. Rosala died in August 2013 at the age of 69.
Despite the heartache, Ortega found love again and married his second wife, Flora Pérez Marcote, in 2001. The couple had already welcomed their daughter, Marta Ortega Pérez, into the world in 1984.
Why is Amancio Ortega Famous?
Amancio Ortega is renowned for revolutionizing the fashion industry as the visionary founder of Zara and its parent company, Inditex.
By streamlining production processes and working closely with textile manufacturers, Ortega enabled Zara to rapidly bring new designs to stores at affordable prices, catering to a wider audience.
His unwavering commitment to customer preferences and speed have made Inditex one of the world’s largest fashion retailers, with Ortega becoming one of the wealthiest individuals globally.
FAQs about Amancio Ortega
How old is Amancio Ortega?
Amancio Ortega age is 87 years old.
How tall is Amancio Ortega?
Amancio Ortega height is 1.73 m.
Who is the richest man of Spain?
The richest person in Spain is named Amancio Ortega.
Is Zara in Spain cheaper?
Inditex labels are often 25-30% cheaper in Spain compared to the United States. A Zara dress that costs $100 in the United States might cost as little as $72.30 in Spain. Zara’s US average initial pricing for women’s clothes is $42, compared to $30 in Spain.
Is Zara owned by Gucci?
Zara may be considered a separate company with 82 stores in the United States alone. Inditex, a Spanish clothing corporation, owns the quick fashion chain with Massimo Dutti, Pull & Bear, and Bershka.
Conclusion
Throughout this article, we have delved into the exquisite details surrounding his entrepreneurial prowess and establishing the renowned brand Zara.
As we eagerly anticipate the latest estimate of Ortega’s net worth in 2023, we invite you to explore the fascinating realm of celebrity net worth on World Celebrity Net Worth.
Read More:
Top 100 Richest People In The World In 2023
