Amancio Ortega is a Spanish billionaire and the founder of the fashion group Inditex, which owns popular brands such as Zara, Pull & Bear, and Massimo Dutti. Born in 1936, Ortega is one of the wealthiest people in the world due to his success in the fashion industry. He is known for his dedication to fast fashion and unique business model, which allows Inditex to quickly produce trendy clothing and get it on the shelves of their stores in a matter of weeks.
Early Life and Education
Amancio Ortega was born on March 28, 1936, in Busdongo de Arbás, a small town in northern Spain. His father was a railway worker, and his mother worked as a maid. Ortega grew up in poverty and had to quit school at the age of 14 to help support his family. He began working as a delivery boy for a clothing store and quickly rose through the ranks, eventually becoming a salesperson.
Career and Achievements
In 1975, Ortega founded Inditex with his then-wife Rosalía Mera. The company’s first store, Zara, opened in Galicia, Spain, in 1975. By the 1980s, Inditex had expanded throughout Spain and began opening stores in other European countries. Today, Inditex has over 7,000 stores in 96 countries.
One of the keys to Inditex’s success is its unique business model. Rather than outsourcing production to factories in other countries, Inditex produces almost all of its clothing in its factories in Spain and Portugal. This allows the company to quickly respond to changing fashion trends and get new clothing on the shelves in a matter of weeks.
Ortega is also known for his philanthropic efforts. In 2001, he founded the Amancio Ortega Foundation, which focuses on education, social welfare, and research in science and culture. The foundation has donated millions of euros to various causes and has helped improve the lives of many people around the world.
Ortega is famously private and rarely grants interviews to the media. He has been married twice and has three children. Ortega is known for his frugal lifestyle and often wears clothes from his own stores. Despite his incredible wealth, he still lives in the same modest apartment in Galicia that he has owned for decades.
|Born:||March 28, 1936|
|Companies:||Inditex (owns Zara, Pull & Bear, Massimo Dutti, and others)|
|Net Worth:||$73.2 billion|