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#173 Sandra Ortega Mera $8.25B

Random fact: Replaced mother as Spain's richest woman after her death.

Overview

Spain's richest woman is the daughter of Amancio Ortega and Rosalia Mera, co-founders of Inditex, the world's largest clothing retailer. The Arteixo, Spain-based company had revenue of 23.3 billion euros ($25.8 billion) in the year to January 2017. She controls her 5 percent of Inditex through her holding company, Rosp Corunna.

As of July 20, 2017:
Last change +$77.5M (+0.9%)
YTD change +$1.15B (+16.2%)
Industry Retail
Biggest asset ITX SM Equity
Citizenship Spain
Age 48
Wealth Inherited
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Sandra Ortega Mera's net worth of $8.25B can buy ...

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troy ounces of gold
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barrels of crude oil

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of the GDP of the United States
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of the total wealth of the 500 richest people in the world
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of the top 100 U.S. college endowments
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of the top 200 U.S. executives’ total awarded compensation
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of U.S. existing home sales
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times the median U.S. household income

Latest News

Net Worth Summary

Cash
Private asset
Public asset
Misc. liabilities
Confidence rating:

The majority of Ortega Mera's fortune is derived from her 5 percent interest in Arteixo, Spain-based Inditex, the world's largest clothing retailer by sales according to Fast Retailing. She controls her stake through Rosp Corunna, the family's investment vehicle based in A Coruna, Spain, according to Inditex's 2016 annual report. She took control of the holding company upon her mother's death in August 2013.

Cash held by the estate was taxed at 18 percent, in accordance with Spanish inheritance tax law. A 99 percent deduction on this rate was applied to the shares and assets held by Rosp Corunna, in line with the regional tax laws of Galicia, where the company is based. Her cash holdings are valued based on an analysis of dividends, market performance, insider transactions, taxes and charitable contributions.

Other assets owned by Rosp Corunna include 5 percent of publicly traded Spanish pharmaceutical company Pharma Mar, 30 percent of closely held Spanish hotel chain Room Mate and 11.25 percent of Luxembourg-based Alpina Real Estate, according to Orbis, a database of company information published by Bureau van Dijk. Excluding Pharma Mar, the investments made are valued at 80 million euros ($90 million) as of May 2017, according to a person familiar with the fortune who asked not to be identified because the information is private.

Ortega Mera's disabled brother, Marcos, inherited about 8 percent of his mother's estate and didn't receive a stake in the holding company, according to the person familiar.

Jose Leyte, a spokesman for Ortega Mera, declined to comment on her net worth.

Biography

Birthdate: 7/19/1968
Family: Married, 3 children

Sandra Ortega Mera was born in July 1968, the older of two children born to Spain's richest man, Amancio Ortega, and the late Rosalia Mera, his former wife and one-time business partner. When she was born, her parents were working together on a manufacturing business making women's bathrobes. They opened the first Zara store in La Coruna, Spain, seven years later.

Ortega and Mera separated in 1986 and divorced 11 years later. By that time, Ortega had incorporated the Zara chain into a holding company, Inditex. Ortega Mera remains Inditex's second-biggest shareholder and controls the shares through investment vehicle Rosp Corunna, which she owned with her mother until her death in August 2013.

A Catholic school graduate and trained psychologist, Ortega Mera serves as vice president of the Paideia Galicia Foundation, a non-profit organization founded by her mother that helps disabled people find jobs and develop greater autonomy. Her younger brother, Marcos, was born with a mental impairment.

She lives in the Galicia region of Spain with her husband, Pablo Gomez, and their three children.

Milestones
  • 1963 Amancio Ortega founds clothing maker with future wife, Rosalia Mera.
  • 1963 Rosalia Mera co-founds Inditex with Amancio Ortega.
  • 1968 Sandra Ortega Mera is born in La Coruna, Spain.
  • 1975 The first Zara store opens in downtown La Coruna, Spain.
  • 1985 Inditex is created, incorporating Zara and manufacturing units.
  • 1986 Parents separate. They divorce 11 years later.
  • 1986 Founds Paideia Galicia Foundation with her mother.
  • 2001 Inditex begins trading on the Madrid and Barcelona stock exchanges.
  • 2011 Father, Amancio Ortega, steps down as Inditex chairman.
  • 2013 Mother suffers brain hemorrhage and dies while vacationing in Spain.