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Amancio ORTEGA GAONA

Primary Position:
Founder
Primary Company:
Industria de Diseno Textil (Inditex)
Estimated Net Worth:
At least $67.6 billion
Source of Wealth:
Self-Made
Age:
81
Birthday:
28 March 1936
Religion:
Christian
Nationality:
Spain
Hometown:
Busdongo, Castilla y Leon, Spain
Marital Status:
Married

Biography

Native of Busdongo, Castilla y Leon, Spain, Ortega was born in 1936. 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, he opened his first factory, and two years later, in 1965, he established Confecciones Goa, a textile manufacturer and marketer. In 1975, ...

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Education History

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Interesting Facts

Ortega stepped down as Chairman of Inditex in 2011; he wrote a brief memo to his 98,000 employees announcing his retirement and was succeeded in the position by Pablo Isla Alvarez de Tejera, his Deputy Chairman.

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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: Business - Entrepreneurship
Description: In 1965, Ortega established Confecciones Goa, a textile manufacturer and marketer. In 1975, he co-founded Zara, a retail textile store which is focused on the distribution of designer clothing at reasonable prices.

Kind of Interests, Passion and Hobbies: Art
Description: Reportedly owns an extensive collection of modern art, including various works by Spanish painter Joaquin Sorolla, known for his portraits, landscapes and works dealing with social and historical themes.

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Philanthropy

Giving Profile: Founding Chairman 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. 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 U.S. In October 2012, the Amancio Ortega Foundation donated $22 million to Caritas, a charitable organization of the Catholic Church, supporting societal development and fostering the traditions of charity and social work. In addition, the foundation also donated $11 million to fund educational programs through the Entreculturas Foundation. Ortega also co-founded the Paideia Galiza Foundation, which donates primarily to the mentally and physically challenged.

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