By John Ensor •
Published: 01 Dec 2023 • 17:57
Fashion billionaire, Amancio Ortega Gaona.
Credit: Imaxe Press/Shutterstock.com
Amancio Ortega, the mastermind behind Inditex and its globally renowned brand Zara, has ventured into logistics with his latest acquisition.
Recently, through his investment vehicle Pontegadea, Ortega made a striking move by purchasing a key logistics hub in Dublin for €225 million, according to La Informacion.
This acquisition of the Amazon-dominated facility in Baldonnell Business Park in Dublin not only signifies a new direction for Ortega but also reinforces his interest in the real estate and logistics sectors.
Ortega has chosen to expand his portfolio by acquiring a sprawling 120,000-square-meter logistics complex in Dublin. This site, primarily leased to Amazon, exemplifies his shift towards logistical investments.
Previously, Ortega had entered the logistics realm through the acquisition of a Walmart centre in California for €100 million. This latest investment, however, marks a significant upscale in both commitment and vision.
Ortega, renowned for his leadership in Inditex, has been diversifying his investments. Following a substantial dividend of €2.217 billion from Inditex this year, a notable increase from last year’s €1.718 billion, he has been channelling funds into the real estate sector.
His holdings, predominantly in prime city centre locations across Spain, the UK, the US, and Asia, showcase a broad interest in office and commercial spaces.
This strategic expansion has solidified Ortega’s position in the Forbes rankings, with his wealth ballooning by 53 per cent since 2022. Currently, Ortega’s net worth stands at a staggering €81.8 billion, more than double the combined wealth of the next ten individuals in the ranking.
This exponential growth in wealth underscores his shrewd investment strategies and his unerring ability to identify lucrative opportunities.
Amancio Ortega’s foray into the logistics sector, marked by the acquisition of the largest Amazon centre in Ireland, signifies a pivotal shift in his investment strategy.
Leveraging his substantial dividends from Inditex, Ortega continues to diversify his portfolio, cementing his position as a leading global investor and business magnate.
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Originally from Doncaster, Yorkshire, John now lives in Galicia, Northern Spain with his wife Nina.
He is passionate about news, music, cycling and animals.
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