Zara's boss buys Walmart's giant US logistics center for a whopping price

Zara's boss buys Walmart's giant US logistics center for a whopping price

Boss Amancio Ortega has added a new asset to his real estate portfolio as Zara and Inditex continue to grow, it has been learned.


Spanish billionaire Amancio Ortega, founder of the Inditex and Zara brands, continues to invest in real estate around the world, most recently acquiring a Walmart logistics platform in the United States .


Ortega took over Walmart's automated logistics center in Southern California's Inland Empire region for $109 million (98.9 million euros). The warehouse has an area of ​​about 32,000 square meters (about 340,120 square feet), and the retailer uses automation technology to receive, sort and ship products.


The acquisition comes a year after the businessman entered the logistics sector, acquiring the FedEx platform in Wisconsin for around 825 million euros and a distribution center in Philadelphia for around 147 million euros.


In addition to these investments in the United States, Ortega has also recently made acquisitions in Europe. At the end of June, it purchased its first logistics warehouse in the Netherlands for approximately 105 million euros. The 103,000 square meter platform is located in Venlo and is leased to the transport and logistics company DSV until 2033.


Ortega deposited a total of 1.1085 billion euros on May 2 as the first dividend payment of Inditex to shareholders this year. In this way, the businessman will receive 2.217 billion euros this year, up from 1.718 billion euros last year.


Other buildings acquired in the past two years include the Howert and Southeastern Financial Centre in New York, Royal Bank Plaza in Toronto, and the Post Office Building and former BBC headquarters in London.


According to the Forbes Real-Time Millionaires Index, Amancio Ortega has a fortune of $91 billion, ranking 15th on the world's richest list.



Editor ✎Estella/

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