Fashion billionaire Amancio Ortega’s real estate investments recorded a 19% increase in value in 2022, as it expanded into logistics and added luxury apartment buildings.
The property portfolio owned by the Inditex SA founder was valued at €18.1 billion ($20.1 billion) in 2022, up from €15.3 billion in 2021, according to a statement Thursday from Pontegadea, the firm that manages Ortega’s fortune. Ortega’s real estate portfolio is the largest among Europe’s “super-wealthy” individuals.
Spain’s richest man spent about $1 billion in warehouses across the US last year, in his first move to invest in the logistics industry after years of focusing mainly on commercial real estate. Pontegadea needs to spend close to €2 billion a year that it receives as dividends from Ortega’s 59% stake in Inditex, owner of the Zara and Bershka clothing brands, among others.
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