This man is one of the richest on the planet. Yet no one knows its name even though its products are purchased by millions of people every day.
In the inner circle of billionaires, many are known to the general public: Bernard Arnault or Vincent Bolloré for the French, Jeff Bezos, Mark Zuckerberg or even Elon Musk for the United States. But in the world, 2781 people have a wealth of at least 10 figures. These very rich people are for the most part very discreet, as is often the rule in the business world. But if the business is so thriving it is because the number of customers is necessarily high. However, they often don’t know who they are actually purchasing a product from.
If the leaders of certain brands are media or famous, many hold an empire hidden from mere mortals. This is especially true in the case of Europe’s second richest man, behind Bernard Arnault. His fortune amounts to $103 billion, according to Forbes’ 2024 ranking. However, his journey is worthy of a Hollywood scenario.
Born to a railway worker father and a housewife mother, after leaving school at 12 to go to work and provide for the financial needs of the family home, Amancio Ortega Gaona nevertheless became the 13th richest person in the world, the 2nd in the Old Continent. and the first in Spain. Doesn’t his name mean anything to you? Yet every year millions of French people buy his clothes. This native of La Coruña, who is now 88 years old, is simply the founder and former boss of Zara.
In France its history is unknown. As a teenager, when he had no choice but to work, this Spaniard threw himself into ready-to-wear, at the bottom rung of the ladder. First a courier and then a stylist, he began making various clothes in the 1950s and 1960s, before starting his own business in his hometown: GOA (his initials backwards), which became Zara in 1975.
Originally the brand was supposed to be called Zorba, like the name of a famous film from the 60s. However, a bar near the first shop was already called that and Amancio Ortega Gaona had to change his name in order to receive the letters. put up his sign. So this turned into Zara.
Since then, it’s an understatement to say that the octogenarian has had a success story with more than 5,800 stores opened worldwide for 170,000 employees. In France, the brand is a leader in ready-to-wear with a turnover of almost 1.8 billion euros. Now retired, Amancio Ortega Gaona, however, remains the majority shareholder of the brand which also owns Pull and Bear, Massimo Dutti, Bershka and Stradivarius. While living in the utmost discretion in the depths of Galicia.
What factors contribute to the anonymity of certain billionaires in the public eye?
Interview between the Time.news Editor and Wealth Management Expert Dr. Alice Thornton
Setting: A modern conference room at Time.news headquarters, adorned with contemporary art and large windows overlooking the city.
Editor: Welcome, Dr. Thornton! It’s a pleasure to have you with us today. The world of billionaires often feels shrouded in mystery, especially those who are incredibly wealthy yet remain largely unknown to the public.
Dr. Thornton: Thank you for having me! It’s true; there are many billionaires whose names don’t hit the headlines like Elon Musk or Jeff Bezos. Their discretion often stems from the industries they dominate and their preference for staying behind the scenes.
Editor: Exactly! We just learned about Europe’s second richest man, whose fortune is around $103 billion. What do you think accounts for the stark contrast between public recognition of some billionaires versus others?
Dr. Thornton: It largely depends on the visibility of their brands. Many of these discreet billionaires run conglomerates or enterprises that operate under different brand names. While their products may be bought by millions daily, consumers rarely connect the dots to the individual behind these brands.
Editor: That’s really fascinating. So, while brands like Amazon or Tesla are synonymous with their founders, other industries may not lend themselves to that same publicity. What industries do you think particularly hide these wealthy figures?
Dr. Thornton: Industries like manufacturing, pharmaceuticals, and even textiles often have owners who remain behind the scenes. They focus on the business and financial aspects rather than personal branding. Think about companies that produce essential everyday goods—for most consumers, the product’s brand is more relevant than who owns it.
Editor: It’s intriguing to consider the different paths these billionaires take to their fortunes. For instance, the individual mentioned in our article had a challenging upbringing, leaving school early to support his family. How influential do you think personal background is in shaping such a successful career?
Dr. Thornton: Personal background can be a double-edged sword. On one side, overcoming hardships can instill resilience, dedication, and a strong work ethic—all crucial traits for success. On the other hand, access to education and resources can significantly influence opportunities. In this case, it seems like both personal drive and circumstance played essential roles.
Editor: That makes total sense. Many people might assume that achieving billionaire status comes easily, but there’s often a story of struggle behind the success. Given this context, what do you think drives this man to remain so anonymous, even as wealth accumulates?
Dr. Thornton: The desire for privacy is quite common among ultra-wealthy individuals. For some, it mitigates risks like kidnapping or public scrutiny over their wealth. Others may simply prefer to let their products speak for themselves rather than seeking the limelight. It’s a personal choice rooted in their values and experiences.
Editor: So, it seems the story of the unknown billionaire is more than just a tale of wealth; it’s also about personal philosophy and the hidden struggles many face on their journey. How can consumers, in turn, become more aware of who is behind the products they purchase?
Dr. Thornton: Education plays a crucial role here. Consumers can look for transparency in brands, exploring company histories and ownership. There are also documentaries and reports that shed light on these unseen magnates. The more informed the consumer, the more likely they are to appreciate where their products come from and the stories behind them.
Editor: That’s great advice! Thank you for sharing your insights today, Dr. Thornton. It’s a reminder that every purchase has a story—sometimes with fascinating characters behind it, hidden in plain sight.
Dr. Thornton: It’s been a pleasure discussing this topic with you. Remember, sometimes the most interesting stories are the ones we haven’t yet uncovered!
The interview concludes with a handshake, leaving the audience intrigued about the hidden narratives of wealth surrounding the world.