Amancio Ortega Biography
One of the most inspiring success stories from Europe, Amancio Ortega is a highly accomplished entrepreneur who rose from the bowels of poverty climbed his way up to the prestigious list of the Top 5 Billionaires of the world. Hailed as the fifth richest man in the world, Mr. Ortega is currently the richest person in Spain and the second richest person in Europe, next only to LVMH CEO, Bernard Arnault. Amancio Ortega was born in the year 1936 to a Spanish family, wherein his father was a railroad worker, while his mother served as a house maid. Billionaire Amancio Ortega began his professional life at the age of 14, when the family moved to La Coruña, Spain, where he began working as a delivery boy in various textile firms. It was during this time period that Amancio began learning the trade and started plans for his own textile venture. Then in the year 1972, Mr. Ortega founded Confecciones Goa, his first entrepreneurial venture, wherein the company was mainly in the business of manufacturing of bathrooms. Three years later, Amancio Ortega brought to the world of fashion, Zara, a fashion store that in a short time turned into one of the biggest and foremost luxury brands in the world. The continued success of Zara and subsequent expansions led to the formation of Amancio’s multi-billion dollar empire Inditex group, under whose banner several luxury brands rose to prominence, such as the likes of Zara, Massimo Dutti, Oysho, Zara Home, Kiddy’s Class, Tempe, Stradivarius, Pull and Bear/Often and Bershka.
On the personal front, Amancio Ortega is one of the most elusive billionaires in the world, one who is not only publicity shy, but is also known to have never granted an interview to any of the media outlets. Mr. Ortega is the proud father of three children and has been married twice. His daughter, Marta Ortega Perez from his second marriage is widely regarded as the Spanish billionaire’s heir. Maria, who is currently working at Inditex married Spanish equestrian star Sergio Alvarez Moya in the month of February of 2012. In the year 2000, Amancio Ortega finally made a public appearance promoting his company before it got listed at the stock markets in the year 2001. This sudden appearance made headlines across the Spanish media and even led to the publication of best-selling book titled, “Amancio Ortega: DE CERO A ZARA.”
In the month of July in 2011, Mr. Ortega stepped down from the post of CEO, Inditex , while still owning 59.29% of the company. Besides his vast luxury garments empire, Amancio Ortega is also known to have heavily invested in other verticals, such as the likes of gas, tourism and banking. Mr. Ortega is a known workaholic and spends much of his time taking care of his business ventures. However, he does take out time enjoy his hobbies, which includes driving and horse riding. To accomplish the latter, Amancio even went on to purchase an equestrian center in Finisterre, Galicia, Spain.
Current Position: CEO, Inditex (Retired)
Source of Wealth: Inditex
Net Worth: $37.5 Billion
Education: Not Available
Amancio Ortega Estates:
For men who have risen from ‘nothing’ to everything’, simplicity is often the buzz word as has been highlighted in the case of several top billionaires, such as the likes of Warren Buffett, Carlos Slim etc. Same can be said of Amancio Ortega, the man who rose from rags and riches and has claimed the number five spot in the global billionaire rankings. When it comes of luxury mansions and villas, Mr. Ortega prefers a conventional common-man apartment and as such owns a modest apartment in Spain, where he lives with his first wife. There is also a second apartment purchased by Mr. Ortega in Zaleta, Orzan Beach, where he lives with his second wife Flora and his daughter Maria who is also the billionaire’s heir apparent. Besides the two humble abodes, Spain’s richest person is also known to have invested heavily in commercial real estate with the purchase of two high profile properties that we have mentioned in detail below.
1. Torre Picasso
Location: Madrid, Spain
Price: $536 Million
Standing tall at an enormous 515 feet, Torre Picasso is a skyscraper in Madrid, Spain that was recently purchased by Spanish billionaire Amancio Ortega for a whopping $536 million. Torre Picasso retained the title of the ‘tallest building in Spain’ from the year 1988 till 2007 and was designed by the renowned architect This expensive skyscraper was part of an extensive expansion plan for the region of northern Madrid in the 1970 and then in the year 1980, the designs for Torre Picasso were finally approved and the license granted for the construction. The construction on what was to become the tallest office complex in Madrid began in the year 1982, while the tower complex was finally finished in the year 1988. The entire Torre Picasso is comprised of some 43 floors, excluding the five additional floors that make up the basement of the tower. For stringent security concerns, photography within the tower complex in nearby it surroundings has been strictly prohibited.
2. Epic Residences & Hotel
Location: Miami, U.S
Located in the picturesque city of Miami, Epic Residences & Hotel is a luxury hospitality owned by Amancio Ortega and is widely considered to be one of the best luxury hotels in the U.S. The entire complex is comprised of luxury homes for sale, along with a luxury hotel that offers impeccable services and an unforgettable luxury vacation to its guests. The residency side of the equation features one, two and three bedroom accommodations that are available in the form of penthouses and townhouse residences. The entire tower complex was designed by renowned architect Luis Revuelt and is comprised of 54 floor that includes the luxury residences as well as the hotel. The Epic Residences offers the residents with bespoke luxury and a wide range of privileged services, such as the likes of 24-hour front desk, state of the art security, wireless Internet in the common areas of the tower, along with exclusive access to various Epic Hotel services and amenities.
The Epic Hotel on the hand, offers its guests with a slew of lavishly appointed guestrooms that range from conventional guest rooms to luxury suites and premier suites. All rooms of this luxury hotel are comprised of high speed wireless Internet, while the guests are served with complimentary morning tea and coffee in the lobby. Furthermore, the guests are offered the services of a 24 hour valet and round the clock in-house dining. Besides luxurious accommodations, Epic Hotel enables its guests to explore a great deal of in-house services, such as the likes of a state of the art fitness center, a 24-hour business center and even an Exhale Spa. There is also available concierge services on request, while the guest rooms have all be fitted with an in-room safe.
Amancio Ortega Car:
Manufacturer: Audi AG
Just like the billionaires featured in your list before Amancio Ortega, with the exception of Bill Gates, this Spanish billionaire is also not too high on luxury cars and sports cars. With a net worth of $37.5 billion, Amancio has for his personal conveyance an Audi A8 luxury sedan that is said to be more than sufficient to meet Mr. Ortega’ luxury as well as comfort needs. The high end Audi A8 is powered by a 4,2L FSI Quattro engine that is tethered to a six speed tiptronic automatic transmission system, which enables the luxury sedan to achieve a top speed of 155 mph, while sprinting from 0 to 62 mph in just 5.7 seconds. Introduced in the year 2009, Audi A8 is designed and developed on the Volkswagen Group MLB platform and chassis is composed primarily of space frame aluminum. The A8 features quite a lot enhancements, including Quattro all-wheel drive system, LED headlights and even an extremely powerful 1,400 watt Bang & Olufsen sound system. In addition to these systems, there is also present a cutting edge driver control system, called the Multi Media Interface (MMI), which essentially outs the controls of various in-car functions at the tips of the driver’s hands, The MMI is also capable of recognizing handwriting inputs and can even assist with 3D navigation, powered by Google Earth.. The Audi A8 comes with an optional night vision assistant system, along with mobile broadband internet access that take advantage of Long Term Evolution (LTE) technology to provide mobile data speeds in excess of 100 Mbit/s. Along with these opulent features, the Audi A8 also comes with leather upholstery, a gorgeous instrument cluster, along with several other luxurious amenities that truly makes the A8 a ride of immense comfort and pride.
Amancio Ortega Private Jets:
1. Global Express BD-700
Price: $45 Million
Designed and developed by Bombardier, one of the leading manufacturers of luxury private jets, Global Express BD-700 is a luxury private owned by Spanish billionaire Amancio Ortega. The BD-700 is low range, high performance corporate jet that carries price tag of $45 million and is considered to be a perfect combination of state of the art aeronautical engineering, combined with opulent comforts. The Global Express BD-700 is powered by two BMW Rolls Royce BR-710A-220 turbofan engines, that deliver an astounding 14,750 pounds of thrust. The luxury business jet is capable of achieving a top speed of Mach 0.86 (935 km/h), while boasting a maximum rang of 12,400 km at cruise speed. With a seating capacity of 18 passengers and a crew of four, the Bombardier Global Express BD-700 is truly meant for those who wish to acquire an aircraft with technological superiority and luxurious interiors.
Amancio Ortega Philanthropy:
1. Amancio Ortega Foundation
Founded in the year 2001, Amancio Ortega Foundation (Fundacion Amancio Ortega) is a major philanthropy initiative undertaken by Europe’s second richest person, Amancio Ortega. The foundation itself was set up in an effort to tackle some of the most persistent problems in the society in general, with an innovative approach towards the solutions. The Amancio Ortgea Foundation was started with an initial investment of $60 million from the billionaire himself and in a decade, the organization has transformed into one of the most prominent philanthropy establishments in the world. The main aim of Fundacion Amancio Ortega is to spread awareness and open new venues for talented individuals in the fields of culture, education, research, social and care activities and science. With its headquarters based in Arteixo, A Coruña, the Amancio Ortega Foundation was established to look after the needs of the autonomous community of Galicia, Spain, but has since expanded its efforts and projects across the globe. At present the foundation is headed by Mr. Ortega himself, while his second wife Mrs. Flora Pérez Marcote serves as its vice-president.
2. PAIDEIA Galiza Fundacion
Established in the year 1986, Fundacion PAIDEIA is a globally renowned philanthropy organization that was founded by Spanish billionaire Amancio Ortega to uplift education standards in the Galicia region of Spain. The main purpose of this organization is to facilitate inter-disciplinary and multi-dimensional training and education, while also focusing on the improvement of Human and Social Sciences. The principal aim of Fundacion PAIDEIA has largely been around education reforms, while the establishment also strives towards the betterment of society as a whole. To accomplish this goal, Mr. Ortega has focused his attention on spreading awareness of critical societal issues, as well as promoting civic and social solidarity. One of the most revered accomplishments of Fundacion PAIDEIA has been the development of Mans Business Center. This project was supported by Mr. Ortega, along with the Galician Institute for Economic Development. The end result of this ambitious initiative is the Mans Business Center, 3,500 square meter building that is comprised of several individual office spaces in different sizes. The business center essentially provides entrepreneurs with much needed office space to enable them to launch their start-up ventures. The Mans Business Center even features a state of the art music recording studio called Mans-Padeia Studio that was designed and developed to bring in help start musical productions financed by public funding. The Mars_Padeia Studio is considered to be at par when compared to other renowned music studios in Europe, such as the likes of in Prague, London and Bratislava.