Who is Amancio Ortega, the Spanish billionaire buying up prime Canadian office towers? [Yahoo! Finance Canada]
LVMH-MOET H/L/V UNSP/ADR (LVMUY)
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Source: Yahoo! Finance Canada
office building after buying The Post office and retail complex in downtown Vancouver for $1.1 billion. The deal is the most expensive commercial real estate transaction in Canada this year (and in the top three for North America), and is the latest acquisition in the Spanish billionaire's extensive real estate portfolio. The Financial Post explains who Ortego is, how he made his money, and what else other recent additions to his dizzying number of global investments. Who is Amancio Ortega and how did he make his money? The story of the man who would become one of the world's richest clothiers begins in Spain, where a teenage Ortega learned the craft working for a local shirtmaker. He founded the retailer Zara in 1975 with his former wife, Rosalia Mera, and is often referred to as a “pioneer of fast fashion” for vertically integrating his company's design, manufacturing, distribution and sales supply chain to rapidly churn out on-trend clothing, shoes and accessories. In 1985, t
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