Sandra Ortega Mera inherits fortune in shareholdings
Inditex SA co-founder's daughter became Spain's richest woman after inheriting her mother's shareholdings in the world's biggest clothing retailer.
Amancio Ortega's daughter, Sandra Ortega Mera had received 90% of the fortune of Rosalia Mera. Included in the inheritance is Rosp Corunna Participaciones Empresariales SL, after the death of the elder Mera last August. This was confirmed by a person with knowledge of the inheritance who sought anonymity because of the matter being of a private nature. Mother and daughter had controlled the entity as a team before the mother's death.
Ortega Mera is now said to be worth USD7.3 billion by Bloomberg Billionaires Index and is the 182nd richest in the world. Her ownership in Rosp Corunna includes a 5.1% ownership in Inditex and is the second largest shareholder in Inditex. She is also the youngest female European billionaire according to Bloomberg.
The Inditex brand includes Zara, Pull and Bear and Bershka. It operates 6,000 stores worldwide and for the last three years, net income has increased by at least 10%. This has lead to the doubling of the share price, which in turn increased the value of the Rosp Corunna shareholdings to over USD5.2 billion.