Amancio Ortega Biography: Life, Career, Success & Wealth

Estimated read time 4 min read
Amancio Ortega – Reuters

Amancio Ortega is a Spanish entrepreneur and the founder of the fashion company Inditex, which includes popular brands such as Zara, Pull & Bear, and Massimo Dutti. Born on March 28, 1936, in Busdongo de Arbás, León, Spain, Ortega began his career in the textile industry as a delivery boy for a local clothing store.

After years of working his way up in the industry, Ortega founded Inditex in 1975 with his then-wife Rosalía Mera. The company’s first store, called Zara, opened in Galicia, Spain. The brand quickly gained popularity for its trendy and affordable clothing, and Inditex grew to become one of the largest fashion companies in the world.

As of 2021, Forbes estimates Ortega’s net worth to be $72.1 billion, making him the fourth richest person in the world. The majority of his wealth comes from his stake in Inditex, which is valued at over $100 billion. Ortega is known for being a notoriously private person, rarely giving interviews or appearing in public.

Despite his wealth, Ortega has remained relatively low-key and is known for living a modest lifestyle. He reportedly still eats lunch with his employees in the company cafeteria and prefers to wear simple clothing.

Ortega is also a philanthropist and has donated millions of dollars to various charities and causes, including cancer research and education. He is the founder of the Amancio Ortega Foundation, which supports education, social welfare, and scientific research.

Overall, Amancio Ortega’s story is one of hard work, determination, and innovation. His creation of Inditex and its popular brands have revolutionized the fashion industry, and his immense wealth has allowed him to make a positive impact on the world through philanthropy.

Here is a timeline of the major events in the life of Amancio Ortega:

1936 – Amancio Ortega is born on March 28 in Busdongo de Arbás, León, Spain.

1963 – Ortega begins working as a delivery boy for a local clothing store in La Coruña, Spain.

1975 – Ortega and his then-wife Rosalía Mera found the fashion company Inditex, with its first store, Zara, opening in Galicia, Spain.

1985 – Inditex expands internationally, opening its first Zara store in Portugal.

1988 – The first Zara store opens in the United States, in New York City.

1991 – Inditex goes public, with Ortega retaining a 59.3% stake in the company.

1999 – Ortega steps down as CEO of Inditex, but remains actively involved in the company as the chairman of the board.

2011 – Forbes names Ortega the third richest person in the world, with a net worth of $31 billion.

2019 – Ortega steps down as chairman of Inditex, handing over the reins to CEO Pablo Isla, but remains a major shareholder in the company.

2021 – Forbes estimates Ortega’s net worth to be $72.1 billion, making him the fourth richest person in the world.

Throughout his life, Amancio Ortega has remained a relatively private person, focusing on growing his fashion empire and giving back through philanthropy.

Here are 5 interesting facts about Amancio Ortega and 5 of his famous quotes:

5 Interesting Facts:

  1. Ortega is known for his notoriously private lifestyle and rarely gives interviews or appears in public.
  2. Despite being one of the richest people in the world, Ortega is known for his modest lifestyle and simple clothing choices.
  3. Ortega reportedly eats lunch with his employees in the company cafeteria and has been known to drive himself to work in a Mercedes-Benz.
  4. Ortega’s foundation, the Amancio Ortega Foundation, has donated millions of dollars to various causes, including education and cancer research.
  5. Ortega’s daughter, Marta Ortega, is also involved in the family business and serves as the chairwoman of Inditex’s social and environmental committee.

5 Famous Quotes:

  1. “The customer is the most important person in our business.”
  2. “You can have all the people in the world, but if you don’t have the right people, you don’t have a company.”
  3. “We know that we are not infallible, that we make mistakes, but we try to learn from them.”
  4. “We don’t have the best products, we don’t have the best stores, but we do have the best execution and that’s what matters.”
  5. “I believe that, as an entrepreneur, you have to work with passion and dedication.”

You May Also Like

More From Author