Amancio Ortega became the first Spaniard whose assets exceeded 100 thousand million dollars

Amancio Ortega became the first Spaniard whose assets exceeded 100 thousand million dollars
Amancio Ortega, in an archive photo, in his native La Coruña, where he lives @ep

The founder of Inditex, Amancio Ortega, has achieved a new record by becoming the first Spaniard whose fortune exceeds $100 billion, which places him in twelfth place in the “Richest People in the World” ranking from Forbes magazine.

Specifically, the Galician businessman's fortune rises to 100,700 million dollars (almost 91,000 million euros), a figure far from the 81,800 million euros with which Forbes Spain ranked him as the richest person in Spain last November.

In this fiscal year, the markets witnessed a revaluation of the textile company, of which Ortega holds a majority stake of more than 35%, which allowed it to significantly increase the size of its wealth.

Among its most recent purchases, through its investment arm Pontegadea, are its first two “boutique” hotels in central Palma de Mallorca from a Swedish group for 35 million euros, as informed sources informed Europa Press of the process.

This is not the first time that the founder of Inditex has bought hotel properties, as he also owns, among others, a hotel located in Cádiz (Playabalina) and another in New York (Iberostar).

In addition to the hotel sector, Ortega recently announced the purchase of a logistics warehouse in Miami for $113 million (102.97 million euros).

In this way, Pontegadea continues its real estate investments after receiving a total of €2,217 million this year in terms of profits from Inditex, more than the €1,718 million it received for this concept last year.

The founder of Inditex invests part of the profits he receives from Inditex in the real estate sector.

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Ortega owns the largest Spanish real estate company, focusing on the acquisition and management of large buildings, with a portfolio of real estate assets consisting primarily of office buildings, not residential, located in the center of major cities in Spain, the United Kingdom, the United States and Asia.

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