Amancio Ortega
- Net worth $119 billion
- Birthday March 28, 1936
- Status Married
- Country Spain
- Ethnicity Spanish
- Source(-s) of wealth Businessman, CEO
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Amancio Ortega is a Spanish business tycoon and his current net worth is $66.4 billion.
Born in Busdongo de Arbás, León, Spain, as the youngest of four children of Antonio Ortega Ramirez and Josefa Gaona Hernandez, he grew up in Leon.
At 14 years old he dropped out of school and moved to A Coruña, because of his father’s job, a railway worker.
Quickly after he found a job as a shop hand for Gala, a local shirtmaker, which still exists in the same corner in downtown A Coruña.
There, he learned to make clothes by hand.
Few years later he started Confecciones Goa, which sold quilted bathrobes produced by him using thousands of local women organized into sewing cooperatives.
Two years after, in 1975, he started, along with his wife Rosalia Mera, his first Zara store. First he wanted to name it Zorba, but was already taken.
Back then he didn’t know he created one of the biggest retailers in the world. Today, Zara is part of the Inditex group, Industrias de Diseño Textil Sociedad Anónima.
He owns 59.29%, of the Inditex group that has over 6,000 stores.
The group includes the brands Zara, Massimo Dutti, Oysho, Zara Home, Kiddy’s Class, Tempe, Stradivarius, Pull & Bear, and Bershka. All over the world, the group has more than 92,000 employees.
When it comes to his personal life, Ortega likes to keep a low profile and is famous for it.
He also prefers a simple lifestyle. Until 1999, no photograph of him existed available to the public.
He is no man of a business outfit as he refuses to wear a tie and prefers to wear simple uniform of a blue blazer, white shirt and gray trousers.
In 2011, Ortega announced his imminent retirement from Inditex, parent company of the Zara chain, stating that he would ask Inditex vice-president and CEO Pablo Isla to take his place at the helm of the textile empire.
Apart from his work as a businessman, he also donates to charities. In 2012 Ortega donated about 20 million euros to Caritas Internationalis, a Roman Catholic relief organisation.