NAMES have been released for the richest residents in Spain, including Spaniards living abroad but with assets in the country, with long-running 'winner' Amancio Ortega still outstripping his compatriots by a considerable margin.
Amancio Ortega, 86, founder of the clothing empire that owns Zara, is still Spain's richest inhabitant. He is shown here in 2020 (photo: Inditex)
The nation's greatest fortunes are largely concentrated within just a few families, and are almost entirely the result of being a company owner or chair, or as a shareholder in some of Spain's biggest businesses.
Inherited wealth does not figure greatly, but inherited companies do – family firms starting off as humble trading posts with spouses, children and siblings working the shop floor and just one small premises, but which expand over decades until they become national or even global household names, feature heavily in the ranking. In some cases, it's the original founder who has amassed the billions, although in others, it may be the second or third generation who is behind the far-reaching growth.
Founder of Mercadona supermarkets, Juan Roig, 73, is Spain's fourth-richest inhabitant and third-richest man (photo: Mercadona)
More distant family becoming involved, such as cousins, second cousins, nieces and nephews, also seem to play a key rôle in turning a corner shop or a modest sewing studio into an international empire.
And neither royalty nor politicians are found within this year's Forbes top 100 fortunes in Spain – after all, the reigning monarch, King Felipe VI, has just €2.57 million to his name, does not own property, and keeps nearly 88% of it in bank deposits and investment accounts.
The top five remain unchanged from previous years, and four of them have lost sizeable sums in the past year through factors affecting the global economy, although they all still own in excess of €3bn.
Women make up just 41 of the 100, although some entire families, or groups of brothers and sisters, appear as one entry.
For the first time ever, Forbes Spain has named the 75 richest women in the country, of whom 34 do not make the top 100.
Read more at thinkSPAIN.com