Amancio Ortega Category

Amancio Ortega Gaona (Spanish pronunciation: [amanjo otea aona], born 28 March 1936) is a Spanish billionaire businessman. He is the founder and former chairman of Inditex fashion group, best known for its chain of Zara clothing and accessories shops. As of October 2021, Ortega had a net worth of $78. 9 billion, making him the third-wealthiest person in Europe after Bernard Arnault and Francoise Bettencourt Meyers, and the 13th-wealthiest in the world. For a brief period of time in 2015, he was the richest man in the world, surpassing Bill Gates when his net worth peaked to $80 billion as Zara's parent company, Inditex's, stock peaked. He is the head of the Ortega family and the second wealthiest retailer in the world. Early life and education The youngest of four children, Ortega was born in Busdongo de Arbas, Len, Spain, to Antonio Ortega Rodrguez and Josefa Gaona Hernndez from the province of Valladolid, and spent his childhood in Tolosa, Gipuzkoa. He left school and moved to A Corua at the age of 14, due to the job of his father, a railway worker. Shortly after, he found a job as a shop hand for a local shirtmaker called Gala, which still sits on the same corner in downtown A Corua, and learned to make clothes by hand. Career In 1972, he founded Confecciones Goa to sell quilted bathrobes. In 1975, he opened his first Zara store with his wife Rosala Mera. In 2009, Zara was part of the Inditex group (Industrias de Diseo Textil Sociedad Annima), of which Ortega owned 59. 29%, and aside from over 6, 000 stores included the brands Zara, Massimo Dutti, Oysho, Zara Home, Kiddy's Class, Tempe, Stradivarius, Pull and Bear, Bershka and has more than 92, 000 employees. His public appearance in 2000, as part of the warm-up prior to his company's initial public offering on the stock market in 2001, made headlines in the Spanish financial press. However, he has only ever granted interviews to three journalists. 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 as head. In 2012 Ortega donated about 20 million to Caritas Internationalis, a Roman Catholic relief organisation. He purchased the Torre Picasso skyscraper in Madrid. He also purchased the Epic Residences and Hotel in Miami, Florida. In July 2017, for its second edition of the AEF awards, the Spanish Association of Foundations awarded Amancio Ortega in the 2017 Philanthropic Initiative category.

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