Despite global economic challenges, Spain’s wealthiest magnates have experienced a 37 percent surge in their fortunes this year. Leading this surge is Amancio Ortega, the founder of Inditex. According to CEOWORLD magazine, their combined assets stand at a staggering £196.13 billion now.
Ortega, who in 2015, briefly held the title of the world’s wealthiest individual, surpassing Bill Gates for a short period, is the driving force behind Inditex, which encompasses fashion brands like Zara and Bershka.
Ortega witnessed an impressive 53 percent increase in his wealth, bringing it to £81.8 billion, which has helped him to move up eight places in the global rankings to secure the 13th position.
Mallorca’s Business Tycoons:
Seven prominent business figures have made their mark on the list thanks to their inspiring success stories. Holding the 11th position in the list is the executive chairman of the Iberostar hotel group, Miquel Fluxa, boasting assets valued at £2.5 billion, who maintains a 51 percent stake in Sayglo Holding SL as. Iberostar, in the meanwhile, has been expanding its footprint in Latin America.
At the helm of a family-owned enterprise, the Barcelo Group, which boasts 278 hotels across 25 countries and had a valuation of £4,873 million in 2021, Simon Pedro Barcelo Vadell, is in the 20th place. According to Forbes, Forbes, the valuation of the hotels under Barcelo Group has increased by more than 21% in the last year, reaching £1.6 billion.
Holding the 38th position with a combined fortune of £960 million are siblings Carmen and Luis Riu, who serve as CEOs of RIU Hotels & Resorts. The business of Riu family, which traces its roots back to 1953, rebounded strongly from the pandemic-induced downturn, displaying remarkable resilience and doubling its income in 2022.
Meanwhile, occupying the 39th spot with £950 million is Juan March Delgado, who is followed by his brother Carlos in 40th place with £930 million. The duo of Juan and Carlos are the principal shareholders of Banca March, with Juan holding an 18.73% stake in the company. The brothers also maintain significant stakes in Corporacion Financiera Alba. The Escarrer family also retains a 54.3% share in the business, ensuring their continued control over the conglomerate.
Ranked 52nd with £720 million is Gabriel Escarrer and his family, the founder of the Melia Hotel chain, experiencing losses during the pandemic. However, in recent months, the company’s fortunes have witnessed a 25% upturn.
Concluding this elite group at 73rd is Isabel Garcia, boasting £500 million worth of fortune and a leading figure of the Piñero hotel group. Tracing its origins in 1975 in Murcia, the Piñero legacy is shared with her daughters Encarna, Lydia, and Isabel Piñero. Originally a travel agency initiated by the late Pablo Piñero and Isabel García, the venture relocated to the Balearic Islands in 1985. Eventually, it expanded into a notable hotel group within Spain and Latin America.
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