Ferrovial owes its roots to its founder, Rafael del Pino y Moreno, who passed away fifteen years ago after leading the construction company for almost half a century. A civil engineer by training, he established the business in 1952 after touring Europe and studying railway projects in several nations, especially Germany. There, he acquired the machinery needed to launch the venture and secured his first contract with Renfe. Two years later, the company completed its first international highway project in Venezuela.
He was married to Ana Calvo-Sotelo Bustelo, sister of Leopoldo Calvo-Sotelo, who led Spain’s government from 1981 to 1982. The Del Pino family comprises five sons: María, Rafael, Joaquín, Leopoldo, and Fernando Del Pino Calvo-Sotelo. The elder Rafael stepped into his father’s shoes as Ferrovial’s head in 2000, eight years before the founder’s passing.
Today, at 64, Rafael del Pino remains Ferrovial’s chairman and its largest individual shareholder with about 20% of the capital. Forbes listed him among Spain’s wealthiest in 2022, estimating an inherited fortune around 3.8 billion euros and placing him among the world’s top billionaires. The board has backed a plan to relocate Ferrovial’s headquarters from Spain to the Netherlands, a move that sparked debate with the Spanish government and has been examined in light of tax considerations.
Ferrovial confirms its continuity in Spain: “Nobody should doubt it”
The founder’s other children, four or five in number, inherited assets that were divided from their father and followed diverse professional paths. Some siblings had limited or no contact with each other, reflecting a broader fragmentation in both family and business life. Several descendants maintain a low public profile, with only a few known portraits circulating publicly.
Rafael Del Pino holds 20% of Ferrovial, making him the company’s largest shareholder. A civil engineer educated in the United States at MIT, he has steered the family holdings since 2015, when the siblings restructured their positions and separated the holding companies under joint, but distinct, Ferrovial ownership. That year, they also ended a prior shareholders’ agreement that had governed their arrangements.
The younger Rafael was a driving force behind Ferrovial’s expansion during the 2000s, a period marked by strategic acquisitions intended to diversify geographically and reduce reliance on domestic civil engineering work. The buying spree intensified after 2000 and peaked through 2007. One notable moment occurred when Ferrovial agreed to acquire BAA, the British airport operator. The deal required careful financing and strategic recalibration within the group, especially after a family rift with a sibling who chose not to participate in the purchase. The operation shaped Ferrovial’s future path and, in the long run, led to changes in the family ownership structure. Fernando, one of the siblings, later departed Ferrovial to pursue independent ventures.
Moncloa attributes Ferrovial’s Netherlands move to the president’s intent to address large-wealth taxation
The president’s relationship with his younger brother is just one element of a broader conversation. Rafael del Pino has been married twice and has six children, three from each marriage. His second marriage, to Astrid Gil-Casares, drew public attention amid a high-profile divorce case, a situation that reflected a shift in the private life of a traditionally reserved figure.
The Allies
In a framework supported by many nations, authorities are pursuing a centralized digital entry system to streamline data sharing between online short-term rental platforms and public authorities. Under this model, every housing option offered for temporary rental for a limited period would require a registration number to identify its host. Information requested includes location, accommodation type, whether it is a primary or secondary residence, and capacity. If the host is an individual, contact details such as phone number, email, national ID, and full name are required.
Platforms would be expected to conduct regular checks to verify the accuracy of registration data, reducing fraud and ensuring consistent rules across the tourism sector. The goal is to create level playing fields with hotels and other lodging providers while easing administrative costs for hosts and platforms.