Mysterious Spanish tycoon Amancio Ortega, a person of the world’s richest gentlemen, is set to get even richer, right after stories he will earn a €1.two billion (£1 billion) dividend from the business he created, which owns brand names like Zara, Pull & Bear, Bershka, and Massimo Dutti.
Earlier this week, Inditex — which Ortega established in 1985 — announced that it would fork out out a dividend of €0.68 per share, thirteen.three% up on the yr past right after a record set of final results.
Ortega owns about 60% of the business, with that dividend well worth shut to €1.two billion.
The eighty-yr old trend tycoon is the world’s third richest male, and Europe’s richest, with a net well worth of about $73.six billion as of March 17, in accordance to Forbes. He is wealthier than Amazon founder Jeff Bezos and Facebook’s Mark Zuckerberg, with only Invoice Gates and Warren Buffett richer.
In Oct 2015, Ortega’s net well worth climbed to far more than $eighty billion when Zara’s parent business Inditex’s inventory peaked, and he briefly became the world’s richest male, surpassing Microsoft founder Invoice Gates, in accordance to Forbes.
Inditex’s inventory fell shortly later on, and right after just four hrs, Ortega went again to becoming the world’s second-richest male, a title he attained in June 2015 by knocking Warren Buffett into third.
But regardless of his huge net well worth, many persons have hardly ever heard of him.
Ortega is an extremely non-public male, is almost never observed in general public, and has specified just a handful of interviews in the course of his extremely successful career.
That career began when Ortega established fast-trend large Zara with his then-wife Rosalia in 1975. Now, his retail business Inditex SA — which owns Zara, Massimo Dutti, and Pull&Bear — has around six,600 outposts about the world. Zara is changing retail without end.
While Ortega is immensely non-public, we do know a fair amount of money about him, and Organization Insider decided to put with each other every little thing we know about Ortega’s life. Test it out beneath.
Ashley Lutz and Mallory Schlossberg contributed to before versions of this publish.