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Amancio ORTEGA GAONA

Primary Position:
Founder
Primary Company:
Industria de Diseno Textil (Inditex)
Estimated Net Worth:
At least $70.6 billion
Source of Wealth:
Self-Made
Age:
80
Birthday:
28 March 1936
Religion:
Christian
Nationality:
Spain
Hometown:
Busdongo, Castilla y Leon, Spain
Marital Status:
Married

Biography

Spanish native and fashion industry pioneer; Ortega's father, a railway worker, moved the family to the Iberian textile capital, A Coruna, where Ortega left school at the age of fourteen to begin working as a delivery boy for a local shirt maker. He later became a draper's and tailor's assistant. In the late 1960s, while managing a local clothing shop, he started designing dressing gowns, housecoats and lingerie from home. In 1963, opened his first factory, and two years later, in 1965, ...

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Education History

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Interesting Facts

In February 2014, it was reported that Occidental Hotels & Resorts, a hotelier owned by Ortega and Banco Bilbao Vizcaya Argentaria, had attracted interest from companies including AMResorts and Playa Hotels & Resorts, and that a sale of Occidental might fetch as much as $700 million.

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Interests, Passion, Hobbies

Kind of Interests, Passion and Hobbies: Environment
Description: Inditex, which Ortega co-founded, dedicates a section to environmental management on its website, in which it asserts that "for years the Group has been operating an Environmental Policy and a global environmental management system that allows us to maintain the company's pace of growth while also meeting stringent environmental standards."

Kind of Interests, Passion and Hobbies: Philanthropy
Description: Co-founded the Paideia Galiza Foundation, which donates primarily to the mentally and physically challenged, in 1986. Established the Amancio Ortega Foundation, which is most active in education and social services, in 2001.

Kind of Interests, Passion and Hobbies: Business - Entrepreneurship
Description: Founded Zara, a retail chain, in 1975, and its holding company, Inditex, in 1985.

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Philanthropy

Giving Profile: Founder and President of the Amancio Ortega Foundation, a personal initiative of Ortega whose lines of action are mainly intended towards the fields of education and social aid. The foundation's principles are solidarity, understanding, commitment, hard work, genuineness and loyalty. Every year, along with the Barrie Foundation, Ortega's foundation sponsors 75 secondary school scholarships to enable students in schools throughout Galicia to spend a year studying in the United States. In October 2012, the Amancio Ortega Foundation and Caritas Spain signed a partnership agreement whereby the foundation made $22 million available for the basic assistance and primary care programs of Caritas, a charitable organization of the Catholic Church, supporting societal development and fostering the traditions of charity and social work. In 2009, the foundation co-funded the construction of new premises for the non-profit Padre Rubinos Shelter. Other notable undertakings of the foundation include: funding the construction of new premises for Proxecto Home Galicia; the construction of nine schools in the Public Network of Galicia Children Schools; an agricultural training project in Tanzania; and participation in the educational "Ponte dos Brozos Project" which encourages the use of technology as a teaching tool in classrooms. Besides, Ortega also co-founded the Paideia Galiza Foundation, which donates primarily to the mentally and physically challenged.

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