The fortune of Spanish millionaire Amancio Ortega is directly linked to the commercial success of his mega-product Inditex. But that’s not the only trump card the millionaire has.

We have already mentioned Pontegadea, the great brick empire that Amancio Ortega created by reinvesting the billions of euros of annual dividends he received as the main shareholder of Inditex. Pontegadea achieved a record profit of 7,943 million in 2023.

Pontegadea, “Inditex of Bricks”Just as different fashion and accessory brands are under the Inditex umbrella, key names in the financial structure of Amancio Ortega’s fortune are also included in the business group that forms the Pontegadea holding company.

The Pontegadea group of companies consists of Pontegadea Inversiones, Partler 2006 and Pontegadea GB 2020, which are affiliated companies of the group, through which it invests in assets and properties worldwide. according to data published by Five DaysPontegadea holding company added 39 billion 646 million euros of turnover in 2023, an increase of 12% compared to the previous year.

Inditex is not owned by Amancio Ortega, it is owned by Pontegadea.. Although Amancio Ortega is the founder of Inditex, the shares of the company he controls appear not in his own name, but through companies of the Pontegadea group. Ortega controls 59.06% of Inditex shares, 50.01% of which are managed through Pontegadea Inversiones and the remaining 9.29% through Partler 2006.

Given that the millionaire has been reinvesting Inditex dividends in real estate for years, control of these shares provides 91% of Pontegadea’s turnover and 67.7% of its total profit. Forbes.

Inditex annual dividends pocketed by Pontegadea

Assets worth more than $100,000 millionThe group of companies that make up Pontegadea has the strategic advantage of receiving annual capital injections of billions of euros from debt-free Inditex, which invests in a diversified portfolio. Pontegadea received the first payment of these dividends in May, amounting to 1,422.5 million euros, and this payment will be completed by the second payment of 2,845 million euros that Amancio Ortega’s investor will receive from Inditex in 2024.

Thus, the assets of Amancio Ortega’s real estate holding reached 101.7 billion euros in 2023, representing an increase of 10.4% compared to the 91.5 billion euros announced by the company in 2022.

Much more than bricksPontegadea’s investment activity began cautiously, purchasing strategically valuable office buildings in major world cities. It later expanded its investments into luxury accommodation and hotels, and turned to international logistics.

Pontegadea’s latest investments have been dedicated to the acquisition of a significant part of the renewable portfolio of Repsol and the French utility, which controls a total of 1,000 MW of renewable energy. All this debt-free investment positions Pontegadea as the largest real estate agency in Spain, with a portfolio of assets worth over 19 billion euros, and awaits the addition of the company’s latest investments.

In Xataka | Amancio Ortega: The billionaire who lives like any other neighbor. Except for private jets and super yachts

Image | GTRES