Zara boss is London’s wealthiest landlord

LAST UPDATED: 29 Dec, 2014 @ 17:54
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Zara boss is London’s wealthiest landlord

THE world’s fourth richest man and founder of the Zara fashion chain has topped the London property league as the capital’s wealthiest landlord.

Amancio Ortega, 78, stole the top spot from Britain’s richest aristocrat, the Duke of Wellington, after heavily investing in London property in recent years.

The retailer, who has a net worth of €48 billion, snapped up the headquarters of mining multinational Rio Tinto Zinc in St. James’ Square for around €315 million last month.

Last year he bought the Devonshire House office block opposite the Ritz on Piccadilly Road for €500 million, also lashing out €277 million Oxford Street’s Jubilee House office block and €176 on 100 Wood Street in the City.

The Spaniard whose father was a railway worker has come a long way since making lingerie and gowns in his living room and acting as a gofer in a shirt store.

His property portfolio includes the iconic 43-story Torre Picasso skyscraper in Madrid and although he no longer chairs Zara’s parent company, Inditex, he still holds a 59% stake.

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