Founder of Inditex, Amancio Ortegainvested a little over 2,300 million (2,308) this year. You should spend them and not leave them in the bank because otherwise you will have to pay wealth tax on them. That’s what you did last year. Then it took 2,798: 1,718 came from dividends for 59% of Inditex and 1,080 dividends in the box of the Pontegadea investment arm. The 13 purchases he made at the end of December almost matched his investment open figure at the beginning of January: 2.783 million.
The same story was repeated this year. Ortega faces the possibility of paying the majority of its income from dividends and the remainder of its business in wealth taxes if it does not invest within a 12-month period and does not invest in assets considered “economic activity”. the legal and tax regulations that govern family businesses like yours.
The item he will receive for Inditex dividends has increased this year, but the amount in the Pontegadea box has decreased. In total, almost 500 million less than in 2022. This year, 2,308 people will enter the multinational company in Galicia (historical record). Half got them in May and the other half in November. As for the cash portion of the investment arm, it closed 2022 with a positive financial position of 91 million (treasury balance and equivalents 1,264 compared to 1,173 financial liabilities). Last year it had 1,080 million in cash.
Amancio Ortega It has already invested some of the 2,308 million available this year., although not at the same rate as last year. 12 months ago, around these dates, it performed 12 of its 13 operations in 2022 at a cost of 2 billion 483 million TL and closed its most productive year in terms of acquisitions with a purchase (thirteenth year) shortly before Christmas. 300 million for the Kiara tower, a 40-story skyscraper with 461 luxury apartments in Seattle (USA).
It conducted four operations this year, valued at more than 400 million dollars, which was realized because it did not advertise its purchases and sales (which is very little). The first was at the end of March when he bought a building with 120 luxury apartments on the south Dublin docks for more than 100 million. The property, called Opus, has 24 one-bedroom apartments, 74 of which are two and 22 are three, costing 841,666 euros each.
The second operation took place in mid-April when it bought the former BBC headquarters in London for around £82m (around €93m). These first two purchases total 193 million units. More than 1,000 were spent in the first quarter of last year.
last june, Amancio Ortega enters European logistics –The rest of the acquisitions in this industry took place in the USA– When buying ships for 105 million in the Netherlands. This third purchase of the year is a 103,000 square foot logistics platform and is located in the Dutch town of Venlo. It is leased to transport and logistics company DSV until 2033 and generates an annual rental income of 4.6 million.
last purchase
The latest investment move by the founder of Inditex came last July when he purchased an automated logistics center from Walmart in California (USA) for $109 million (98.9 million euros). It has an area of 30,000 square meters. With this operation, Pontegadea has more than 1,000 million euros invested in US logistics. The vast majority of these represent Amancio Ortega’s largest investment to date, investing 900 million in the acquisition of seven major logistics centers in six different states of the United States in July of last year. As often happens with their tenants—large companies that can always pay and pay well—in this case Nestlé was the host of Amazon; Fedex (the world’s largest express shipping company); Home Depot (hardware and DIY) or TJX Department Store.