The World's Largest Real Estate Owner Named 0 17

Over Two Hundred Properties in Almost One Hundred Countries

Journalists from the publication studied all this data to create the "empire map" of Ortega. Forbes estimates the businessman’s real estate at $25 billion, which includes over 200 properties in 13 countries, the magazine writes.

This makes Ortega the largest real estate magnate in the world, with a more valuable portfolio than the most successful developers — Australian Harry Triguboff (net worth $23.2 billion) and American Donald Bren ($19.2 billion), the article states.

Since Inditex, the world's largest clothing retailer owning Zara, went public on the Madrid Stock Exchange in 2001, the 90-year-old Ortega has spent about $24 billion on 216 properties in almost one hundred countries, Forbes reports.

"A Bit Like an Art Buyer"

Just last year, Ortega spent over $3 billion on deals in ten cities and eight countries, acquiring seven office buildings, two hotels, two industrial zones, a luxury shopping complex, and an apartment building, as well as 49% of the shares of a large British port operator, Forbes reports.

Additionally, he purchased the historic Canada Post building in Vancouver — a massive technology center occupying an entire city block, with nearly 93,000 square meters of office space (subsequently leased to Amazon). This became the largest office sale in Canadian history: Ortega paid about $850 million in cash for the property.

"He is very different from most real estate investors in that he seems to have unlimited resources. He likes things that are not associated with high risk; he does not try to buy something and improve it. He buys collectible assets, the best in their class on the market — a bit like a buyer of high-end artworks," said a broker working with Ortega's firm to Forbes.

Forbes estimates the Spanish entrepreneur's net worth at $139.3 billion as of April 16. He ranks 13th on the list of the world's richest people according to the publication.