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Meet Amancio Ortega, The Spanish Billionaire Interested In Buying Manchester United

Amancio Ortega

 

Amancio Ortega, a Spanish billionaire, is in the running to buy Manchester United after the Glazers decided to sell the club after 17 years of ownership.

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Since taking over United in 2005, the American family has faced widespread criticism during its tenure at Old Trafford.

United fans were keen to ensure that the club’s signings of Antony and Casemiro this summer did not divert attention away from the club’s larger issues.

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Their protests appear to have paid off, even though there is still a long way to go before any potential sale. In recent months, Sir Jim Ratcliffe has been heavily linked with a takeover, and the British billionaire will be keeping a close eye on the latest developments as he considers his next steps.

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However, a new name has registered their interest in buying United and we’ve rustled up a quick profile on Ortega:

Who is Amancio Ortega?

The 86-year-old was born in Busdongo de Arbas, Spain, and is one of the world’s wealthiest clothing retailers. He cofounded the Inditex conglomerate, which owns the Zara clothing chain.

Ortega owns 59% of Inditex, a Madrid-listed company with eight brands, including Massimo Dutti and Pull & Bear, and 7,500 stores worldwide.

The Spaniard is a very private person who admits he prefers not to be recognized in public: “On the street, I only want to be recognized by my family, friends, and people I work with.”

How much is he worth?

According to Forbes, Ortega has a net worth of $62.2 billion, ranking him 19th in the world. In the fiscal year ending January 31, 2022, his Artexio company, which operates the eight retail stores, generated €27.7 billion in revenue.

Ortega was briefly the world’s richest person in 2015, 2016, and 2017.

Other financial interests

Ortega’s primary investments have been in real estate in Madrid, Barcelona, London, Chicago, Miami, and New York, with no forays into sports.

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Written by How Africa News

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