Introduction
Amancio Ortega is a Spanish entrepreneur and billionaire. He founded the global retailer Zara in 1975, which has grown to be one of the largest fashion retailers in the world. Having started in A Coruña, Spain, with just one store, he now holds more than 80 international chains across over 77 countries.
Despite his vast wealth and success, he continues to live a very humble lifestyle; Ortega does not have material luxuries or lavish homes but prefers to focus on providing for his family and employees. His vision for success can be seen through his passion for making high-quality products at affordable prices.
Early Life
Amancio Ortega was born in 1936 to a humble family in Busdongo de Arbas, Leon, Spain. He grew up in the same rural village where he picked up the knowledge and skills needed to become a successful entrepreneur. He had nice relations with his brother and sister, Josefa and Antonio.
His parents taught him the importance of hard work, dedication, and loyalty which unknowingly provided a strong foundation for him to build his future business endeavors. As a youth, Amancio worked at a local shirt store for four years before moving on and taking the plunge into entrepreneurship.
Net Worth
Amancio Ortega’s net worth is estimated to be a whopping $78.5 billion in 2023, making him the eighteenth richest person in the world and one of the wealthiest individuals from Spain. His success can be attributed not only to his unmatched business savvy but also to his impressive ability to stay ahead of the competition.
From his retail beginnings as a shop assistant in La Coruna to becoming one of the first retailers to embrace technology such as RFID chips that track customer preferences, Amancio Ortega’s entrepreneurial vision continues to be unrivaled and has enabled him to continuously scale and add further value to our economy.
Trivia
The fact that will shock you is Amancio Ortega is his family’s poor peasant. His father worked as a railway worker. Ortega started a business at age 13 by helping his cousin at her garment factory in A Coruña—a city located in northwest Spain. In 1975, he founded Confecciones Goa along with his wife, Rosalía Mera. This eventually became Zara—one of the largest fashion companies internationally today.
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