How To Guides
- Childbirth & Education
- Legal Formalities
- Pensions & Benefits
- Property & Accommodation
Did you know...?
...you can learn Spanish at a variety of locations across Spain, online or residential and day courses in Spain?
Regardless of your standard, and whatever level you wish to reach Don Quijote has a program to suit your needs!
- Airports and Airlines Spain
- Paramount Theme Park Murcia Spain
- Corvera International Airport Murcia Spain
- Daily brief -Friday 3 July 2015
- When Expat Eyes Are Smiling
- Meet Wincham at The Homes, Gardens & Lifestyle Show, Calpe
- QROPS 2014
- Spain Increases IHT in Valencia & Murcia
- Removals to Spain v Exports from Spain
- The Charm of Seville
- Gibraltar Relations
- Retiro Park : Madrid
- Wincham announce opening of Marbella office
- Community Insurance in Spain
- Calendar Girls
- Considerations when Insuring your Boat in Spain
- QROPS – HMRC Introduces changes that create havoc in the market place
- QROPS – All Change From April 2012
Spain's Ortega now world's 3rd richest man
Amancio Ortega, the septuagenarian Spaniard who founded retailer Inditex, has bumped Warren Buffett from his perch as the world’s 3rd richest person.
The 76-year-old tycoon’s fortune rose €1.3 billion to €37.5 billion yesterday, according to the Bloomberg Billionaires Index, as shares of Inditex gained 3.8% to close at a record. That places the owner of the Zara clothing chain above the Berkshire Hathaway Inc chairman, who has a net worth of €36.7 billion and had ranked No. 3 on the index since its inception March 5.
Ortega’s wealth has surged 32% - €9.2 billion - this year amid a market rout in his native Spain, where policy makers are resisting pressure to formally request aid from the ECB. Inditex boosted profit for 12 straight quarters by adding stores in emerging markets such as China while reducing its dependence on its home country, where unemployment hovers above 20%.
“Buffett’s holdings have done well recently, but not all of them,” said Walter “Bucky” Hellwig, who helps manage €13.7 billion at BB&T Wealth Management in Birmingham, Alabama. Ortega “has a more concentrated holding, and that implies more risk. You may have these fits and starts between them going forward.”
Raul Estradera, a spokesman for Inditex, declined to comment. Buffett, 81, didn’t return an e-mail message left with Carrie Sova, an assistant.
Inditex shares rose in Madrid yesterday, joining a rally of European stocks, after German Chancellor Angela Merkel’s government backed the ECB’s plan to buy bonds from debt-racked countries such as Spain. Berkshire Hathaway shares fell 0.5% in New York after increasing its cash hoard to the highest level in a year as Buffett pared bets on consumer- products stocks. On Aug. 3, the company posted a second-quarter profit that beat analysts’ estimates.
Ortega is €22.2 billion behind Mexican telecommunications tycoon Carlos Slim, the world’s richest person. Microsoft co-founder Bill Gates ranks No. 2 on the Bloomberg Billionaires Index with a €51 billion fortune.
The Spaniard became Europe’s richest man on June 13, when he passed Sweden’s Ingvar Kamprad, owner of retailer IKEA. Kamprad, founder of the world’s largest furniture seller, is worth €29.81 billion.
Latest News & Stories
- Gibraltar protests over yet another Spanish Naval incursion
- Spain services growth slows in June (but so does unemployment)
- Spain's De Guindos says a Greek 'Yes' would facilitate talks
- Seville church website removes article on “curing” homosexuality
- UK and Spain grant most EU citizenships
- Spain sees unemployment fall for 5th straight month
- Spain brushes off Greek concerns as it hikes growth forecast
- Spain's León Airlines folds after just 8 weeks
- Spanish air traffic controllers call further strikes for July
- Orange Spain Launches Holiday Pre-Paid SIM