Amancio Ortega's holding company gains almost 8% more and adds 117.083 billion in assets

Amancio Ortega's business holding company made 10.055 billion euros in profit last year and increased its assets by 7.000 billion euros, including both its business interests and its real estate. Pontegadea, Amancio Ortega's business holding company, made 10.055 billion euros in 2025, a 7.86% increase from 2024, and exceeded 117.000 billion euros in assets. The assets of the founder and main shareholder of Inditex also comprise the largest real estate fortune in the world.

According to the accounts deposited in the Mercantile Registry, Pontegadea Inversiones, Partler 2006 and Pontegadea GB 2020, the three heads of the holding company, added revenues of 44.638 billion euros last year, almost 3.5% more than the 43.125 billion euros of the previous year. The three companies now have combined assets of 117.083 billion euros, compared to 110.615 billion euros in 2024 (+6%), and liabilities of 21.432 billion euros (20.069 billion euros a year earlier).

The figures include both the 59.29% stake that Pontegadea has in Inditex and its investments in other companies and its real estate assets, valued at around 22.000 billion euros, a figure that does not include the latest acquisitions. Since 2019, Ortega's business holding company has increased its assets by almost 40.000 billion euros, going from 75.317 billion euros before the pandemic to 117.083 billion euros currently.

Pontegadea Inversiones is the owner of 50.01% of Inditex, while Partler 2006 holds the remaining 9.28% stake that Ortega has in the textile giant. In 2025, Amancio Ortega received a total of 3.104 billion euros in dividends from Inditex. Ortega is also the owner of 30% of Telxius, 5% of Redeia and 5% of Enagás, as well as 12% of the operator of the electricity and natural gas system in Portugal, Redes Energéticas Nacionais (REN).

Pontegadea and its partners, Macquarie Asset Management and UniSuper, also completed the purchase of the logistics operator Qube Holdings, in a transaction that values the acquired company at 11.700 billion Australian dollars (around 7.000 billion euros), including debt. Pontegadea has a 15% stake in the company (valued at over 1.000 billion euros), while Macquarie has 65% and UniSuper has the remaining 20%.

This operation, as well as the asset purchases that have been completed throughout the year, are not reflected in the 2025 accounts. The founder and main shareholder of Inditex has closed or is in talks to buy over 2.000 billion euros in office buildings, logistics warehouses and luxury apartments so far this year.

The latest operation to be signed - last July - was the purchase of Capital 8 from Invesco, a large office complex in Paris for over 800 million euros. In the accounts, audited by EY, the company states that the company made a contribution of 1.656 billion euros to Pontegadea Luxembourg, of which 1.529 billion euros came from the capitalization of a loan, and contributed 50 million euros to Pontegadea Inmobiliaria.

Additionally, in 2025 there was an increase in the cost of the stake in this Luxembourgish company by 313 million euros due to a partial spin-off of assets from Pontegadea Inmobiliaria. On the other hand, it received 34 million euros from renewable energy companies in the form of distributions charged to shareholders' contributions from various stakes in this sector.

Pontegadea Inversiones recorded 19.706 billion euros in investments in long-term group and associated companies in 2025, compared to 18.147 billion euros in 2024. Additionally, it has 733 million euros in other equity instruments (655 million euros in 2024), which include minority stakes in various listed companies.

Amancio Ortega's assets also continue to strengthen its investment portfolio in the UK. At the end of 2025, Pontegadea UK already exceeded 3.000 billion euros in properties, a figure that continues to grow year after year with new purchases. In February this year, the company set up a new subsidiary in the UK for the acquisition of another real estate investment financed by an intra-group loan.

Regarding the commitments with the Amancio Ortega Gaona Foundation, Pontegadea made a disbursement of 66 million euros during 2025, applying the provision that had been made for this purpose. This amount of 66 million euros is considered, for corporate tax purposes, as a non-deductible donation.