ORTEGA

HOW HE GOT IT

Spain's richest person is 83-year-old Amancio Ortega. He owns the biggest fashion group in the world, Inditex. Inditex owns international clothing retailers Zara, Massimo Dutti, Bershka, Oysho, Pull&Bear, Stradivarius, Uterqüe and more. Zara is one of the largest "fast fashion" brands in the world and has over 2,200 stores in 96 countries. It is known for capitalizing on current fashion trends by emulating artists and designers and selling the mass-produced knockoffs for cheap. Inditex's second biggest fashion brand is Bershka with over 1,000 stores in 71 countries. Inditex owns over 7,000 total stores. For reference there's 641 Macy's locations, 379 Nordstrom locations,

In 2016 textile workers that made Zara clothes in a Turkish factory started sewing notes into the clothes that read "“I made this item you are going to buy, but I didn’t get paid for it.” In 2017 almost 310 thousand people signed a petition on change.org written and signed by the 140 textile workers demanding to be paid for their labor. In 2018 the workers were forced to take partial payments from Inditex/Zara. Zara still owes the workers money.

Textile workers in Romania that make Inditex/Zara clothes earn 14% of a living wage. To Inditex's credit they were the first major retailer to side with the textile workers in Bangladesh demanding a living wage in 2018. Maybe they felt bad about killing over 1,100 Bangladeshi factory workers when Rana Plaza, one of their crumbling factories collapsed in 2013.

Zara withdrew purses that had a swastika printed on them in 2007. Zara withdrew a kids shirt that looked like prisoner uniforms in the Holocaust in 2014. Zara withdrew a shirt that said "White is the New Black" in 2014. Zara withdrew a dress that had an alt-right Pepe the Frog meme on it in 2017.

In addition to owning the fashion conglomerate, Ortega has a massive holding company with over $13 billion worth of real estate called Ponte Gadea. He recently bought 2 buildings that Amazon works out of in Seattle for $740 million and a hotel in downtown Chicago for $71.5 million. In 2017 he bought the iconic Southeast Financial Center office building in Miami from JP Morgan Chase for $515 million. In 2016 he bought the hotel at 70 Park Avenue NY for $68 million, an office building in SoHo for $145 million, and an entire block in Miami Beach for $370 million. He's Europe's richest landlord.



IN THE NEWS

Podemos Attacks Zara Owner's € Million Healthcare Donation
Elsa García de Blas, El País 5/21/19

Zara Clothes in Istanbul Tagged to Highlight Labor Dispute
AP News 11/3/17


LISTEN

Eat the Rich Ep 102 Amancio Ortega and Zara 11/18/21



NET WORTH

$76.4 BILLION