That’s a bit rich! Zara tycoon continues to top Forbes’ Spain ranking

ROLLING IN IT: Armancio Ortega (inset).

AMANCIO ORTEGA has strengthened his position as the wealthiest person in Spain with a personal fortune in excess of €70 billion, according to the latest Forbes’ Rich List.

It comes after the founder of Inditex fashion group – best known for its Zara chain of stores – briefly toppled Microsoft mogul Bill Gates to become the richest person on the planet in August this year.

The 81-year-old tycoon’s assets are equivalent to the combined wealth of the 51 individuals who follow him in the annual Top 100 published by the Spanish edition of Forbes’ magazine.

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Second place on the 2017 list is occupied by Ortega’s daughter and heiress Sandra Ortega Mera who is estimated to be worth €6.5 billion, while third place is taken by Mercadona president Juan Roig with €4.8 billion.

The top ten is completed by boss of hotel group Iberostar Miguel Fluxa (€3.6 billion), president of infrastructure giant Ferrovial Rafael del Pino (€2.9 billion), OHL construction chief Juan Miguel Villar Millar (€2.7 billion), Roig’s wife and Mercadona vice-president Hortensia Herrero (€2.6 billion), casino magnate Manuel Lao (€2.4 billion), Mango founder Isak Andic (€2.3 billion), and security firm Prosegur head Helena Revoredo (€2.3 billion).

But the influence of the famously reclusive Ortega – who has a 59 per cent stake in Inditex, the largest textile group in the world, plus a property empire managed via Pontegadea Real Estate – is such that if he is removed from the list the average net worth of the top 100 falls from €1.58 billion to €890 million.

Only 27 spots are occupied by women, who have between them amassed €24.5 billion.


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