Alonso Oretga González, better known as Amancio Ortega, was born in Busdongo de Arbás, León (Spain) on March 28, 1936. He is a Spanish businessman and the founder and ex-president of the Inditex group (owner of the multinational chain of stores Zara).
Ortega left school at the age of 14 and began working as an apprentice in the clothing store of his brother in law. During his time there he developed an understanding of the daily operations of a shop and the sales and distribution of clothing. After working in many different stores and learning the basics of the clothier business, he decided to open his own garment store at the age of 28.
Ortega rented a very small store in downtown A Coruña, Spain and went on to open the first Zara store on the main street of that city. He set up a different kind of business model for his stores, which allowed for the fast distribution of the latest fashion trends. This new concept of the fashion industry was quickly successful and Zara began to expand throughout Spain and then Europe.
In 1985, Ortega created the Inditex Group, of which Zara is the main store, and has grown to become the worlds largest clothing retailer. Today, Ortegas holding company, Pontegadea Inversiones, owns nearly 60% of Inditex, including 8,046 stores in 88 countries.
In the year 2000, Amancio Ortega stepped down from his position at Inditex, leaving him free to focus more on his personal life. During this period he established the Amancio Ortega Foundation, which has become one of the most important charitable organizations in Spain, and is dedicated to the promotion of education and culture as well as the development of social aid programs.
Ortega has also been involved in numerous other business interests. He has invested and become involved in issues related to energy production and the telecommunications industry, as well as the financial sector.
He has also proven to be a successful entrepreneur in the real estate business and has investments in valuable properties from around the world, ranging from luxury hotels in Madrid, to Manhattan office buildings, and shopping centers in the UK.
Presently, Amancio Ortega is recognized as one of the ten richest people in the world, with a personal wealth estimated to be at over 60 billion US dollars. He is currently the worlds third richest person behind Microsoft founder Bill Gates, and Mexican telecoms investor Carlos Slim.
As a successful businessman and entrepreneur, Amancio Ortega proves that it is possible for one to succeed with a simple idea and a lot of hard work and dedication. He is a true example of what can be achieved with dedication and hard work and is a powerful symbol of what is possible.
