Zara Founder Is A Real Estate Tycoon Facebook Amazon, A Tenant.

Spanish billionaire Oman Theo Ortega (Amancio Ortega) is the founder of the clothing giant Zara. Since he unloaded the group chairman in 2011, he has gone to real estate, and now he has created the Empire of real estate all over the world, including Facebook, Amazon's office in Seattle, and a large area of Oxford Street in London.
Agence France-Presse reported that by the end of last year, the real estate portfolio of Ortega's Invest-holding Company Pontegadea Inversiones, worth about 10 billion euros (11 billion US dollars), has successfully diversified its huge fortune earned by the fashion industry.
A spokesman for the holding company said Ortega would normally reinvest the rent received in 2018 to about 405 million euros ($447 million) immediately to Pontegadea; while holding company reinvested the dividend earned by Ortega to real estate, Ortega paid a dividend of 1 billion 600 million euros (about US $1 billion 768 million) in 2019.
The 83 year old business man stepped down as chairman of the group in 2011, but he still holds 59% of the world's largest fashion retailer. The retailer also owns other popular fashion brands such as Massimo Dutti and Bershka.
According to Forbes, Ortega is currently the sixth richest man in the world.
His latest big real estate deal was concluded earlier this month. Pongegadea holding company bought Facebook office building in Seattle for 376 million euros ($415 million), and the Troy Block complex in the same city. Pongegadea bought some of the property of Amazon headquarters at the price of 740 million US dollars. Troy,
Juan Carlos Amaro, a finance professor at the Barcelona essad business school, said that for entrepreneurs with large capital, setting up investment funds to manage cash is normal. They usually disperse and preserve wealth through these "shelters" to avoid the volatility of the stock market.
Altac founded the fashion dress brand Zara in 1975 with her ex-wife Rosalia (Rosalia) in Gary Thea, Spain (Galicia). He is known for his strict protection of his privacy and his prudent investment.
It is reported that Ortega will avoid the sale of real estate, which may lead to more profits. But real estate in the late 2000s had a bad reputation after the bubble burst and triggered a long recession.
A spokesman for the holding company said: "choosing this very conservative investment activity is not because it has high profitability, but because it is stable enough"; and Ortega only chooses "the capital of a stable major country", especially in the prestigious neighborhoods to buy real estate.
Ortega's portfolio is mainly composed of offices, shops and hotels. In addition to having several buildings in Madrid and Barcelona, Ortega has become the main real estate owner of Oxford street, Europe's busiest shopping street. In Paris, he owns the building of the apple flagship store and the commercial building on Champs Elysees.
In addition, Ortega is now easy to reach his standard in the United States. In recent years, he has bought houses in Seattle, San Francisco, New York and Washington.
He currently owns property in nine countries, namely the United States, Britain, Canada, France, Italy, Spain, Mexico, Portugal and South Korea.
Last year, Pontegadea holdings launched a rare investment outside the real estate industry, acquiring 10% of Telxius of Telefonica, a Spanish telecoms company, which provides telephone towers and optical fiber networks in Europe and Latin America.