Latest news with #BloombergBillionairesIndex
&w=3840&q=100)
Business Standard
2 days ago
- Business
- Business Standard
Zara founder's global deal spree shields his $104 billion from tax
Zara founder Amancio Ortega's private investment firm is on a global deal spree, picking up a string of trophy assets in recent weeks as he seeks to deploy his expanding fortune to avoid wealth taxes. The Inditex SA founder's family office, Pontegadea, snapped up a five-star Paris hotel, a Florida apartment block and a building on Barcelona's iconic Diagonal Avenue as part of transactions totaling more than $500 million in the past three months, according to data compiled by Bloomberg. The A Coruna, Spain-based firm is also in talks to buy an office building in Miami for $275 million, lining up a further addition to Europe's biggest real estate empire owned by an individual investor. 'For Pontegadea the choice is simple: redeploy every euro of that Zara dividend or watch eight-figure cash bleed away every year,' said Marc Debois, founder of FO-Next, an advisory firm for family offices. 'This is liability management, not trophy-hunting.' Dividend Payouts Pontegadea's assets have swelled from the dividend payouts over the years, shaping it into one of the world's largest – and most active – family offices. Many of these firms are becoming increasingly influential in global business thanks to the wealth at their disposal and the need for reinvestment. Pontegadea had net assets of €34.3 billion at the end of last year, up 10.6% from 12 months earlier, according to registry filings published this month. Ortega's Inditex stake, though, still makes up the bulk of his wealth. At least a fifth of individuals among the world's 500 biggest fortunes now have a family office that help to oversee fortunes totaling more than $4 trillion, according to the index. In Europe, Ortega trails only LVMH founder Bernard Arnault on Bloomberg's list of richest individuals. Ortega founded the company that grew into Inditex in 1963. The son of a railroad worker, the billionaire never had his own office while he worked at the retailer, preferring to be alongside employees in the main design area. He stepped down as chairman in 2011 and was replaced by long-time executive Pablo Isla. His only child from his second marriage, 41-year-old Marta Ortega, took over in 2022. Sandra, 56, the daughter from his first marriage, controls the shares that her late mother held in Inditex. She doesn't have a role in the business and has diversified her own fortune into real estate, pharmaceuticals and hospitality. Her $12.4 billion net worth makes her Spain's richest woman, according to the Bloomberg Billionaires Index. Through Pontegadea, Amancio Ortega owns iconic properties such as New York's Haughwout Building, the Southeast Financial Center in Miami and London's The Post Building. He also controls prime residential and commercial real estate in cities from Toronto to Seoul — buildings that count Facebook, Inc., Zara, and even rival Hennes & Mauritz AB among tenants. In addition to real estate, Pontegadea can invest in energy infrastructure or stakes of at least 5% in publicly listed companies to reduce the threat of Spain's wealth taxes. The family office acquired major holdings in Spanish gas transportation operator Enagas SA in 2019 and, two years later, a Portuguese rival. For its infrastructure bets, Pontegadea has repeatedly turned to buyout giant KKR & Co Inc., underscoring the scale of the family office's investing operations. In 2018, it joined the Wall Street firm in becoming a shareholder in Telefonica SA's tower unit and the firms have since closed at least two further deals, including Pontegadea buying a 20% stake in KKR-controlled Dutch parking operator Q-Park during December. Pontegadea is also in talks with firms including KKR to acquire the Sabadell Financial Center building in Miami.
Business Times
2 days ago
- Business
- Business Times
Zara founder Ortega goes on deal spree to shield US$104 billion from tax
[LONDON] Zara founder Amancio Ortega's private investment firm is on a global deal spree, picking up a string of trophy assets in recent weeks as he seeks to deploy his expanding fortune to avoid wealth taxes. The Inditex founder's family office, Pontegadea, snapped up a five-star Paris hotel, a Florida apartment block and a building on Barcelona's iconic Diagonal Avenue as part of transactions totalling more than US$500 million in the past three months, according to data compiled by Bloomberg. The A Coruna, Spain-based firm is also in talks to buy an office building in Miami for US$275 million, lining up a further addition to Europe's biggest real estate empire owned by an individual investor. Ortega, 89, has a net worth of about US$103.7 billion according to the Bloomberg Billionaires Index. A representative declined to comment. The spending spree coincides with him receiving his biggest-ever annual dividend from the retail giant he founded more than six decades ago, with about half the expected 3.1 billion euros (S$4.6 billion) paid out in early May. In a legal quirk, Ortega – Inditex's biggest shareholder with a 59 per cent stake – must swiftly spend those payouts or face handing over a chunk of it in extra taxes in Spain, the only European Union nation that currently has a full-on wealth tax for rich residents. 'For Pontegadea the choice is simple: redeploy every euro of that Zara dividend or watch eight-figure cash bleed away every year,' said Marc Debois, founder of FO-Next, an advisory firm for family offices. 'This is liability management, not trophy-hunting.' BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Dividend payouts Pontegadea's assets have swelled from the dividend payouts over the years, shaping it into one of the world's largest – and most active – family offices. Many of these firms are becoming increasingly influential in global business thanks to the wealth at their disposal and the need for reinvestment. Pontegadea had net assets of 34.3 billion euros at the end of last year, up 10.6 per cent from 12 months earlier, according to registry filings published this month. Ortega's Inditex stake, though, still makes up the bulk of his wealth. At least a fifth of individuals among the world's 500 biggest fortunes now have a family office that help to oversee fortunes totalling more than US$4 trillion, according to the index. Ortega founded the company that grew into Inditex in 1963. The son of a railroad worker, the billionaire never had his own office while he worked at the retailer, preferring to be alongside employees in the main design area. He stepped down as chairman in 2011 and was replaced by long-time executive Pablo Isla. His only child from his second marriage, 41-year-old Marta Ortega, took over in 2022. Sandra, 56, the daughter from his first marriage, controls the shares that her late mother held in Inditex. She doesn't have a role in the business and has diversified her own fortune into real estate, pharmaceuticals and hospitality. Her US$12.4 billion net worth makes her Spain's richest woman, according to the Bloomberg billionaires Index. Through Pontegadea, Amancio Ortega owns iconic properties such as New York's Haughwout Building, the Southeast Financial Center in Miami and London's The Post Building. He also controls prime residential and commercial real estate in cities from Toronto to Seoul – buildings that count Facebook, Zara, and even rival Hennes & Mauritz among tenants. In addition to real estate, Pontegadea can invest in energy infrastructure or stakes of at least 5 per cent in publicly listed companies to reduce the threat of Spain's wealth taxes. The family office acquired major holdings in Spanish gas transportation operator Enagas in 2019 and, two years later, a Portuguese rival. For its infrastructure bets, Pontegadea has repeatedly turned to buyout giant KKR , underscoring the scale of the family office's investing operations. In 2018, it joined the Wall Street firm in becoming a shareholder in Telefonica's tower unit and the firms have since closed at least two further deals, including Pontegadea buying a 20 per cent stake in KKR-controlled Dutch parking operator Q-Park during December. Pontegadea is also in talks with firms including KKR to acquire the Sabadell Financial Center building in Miami. BLOOMBERG
Mint
2 days ago
- Business
- Mint
Zara Founder Goes on Deal Spree to Shield $104 Billion from Tax
(Bloomberg) -- Zara founder Amancio Ortega's private investment firm is on a global deal spree, picking up a string of trophy assets in recent weeks as he seeks to deploy his expanding fortune to avoid wealth taxes. The Inditex SA founder's family office, Pontegadea, snapped up a five-star Paris hotel, a Florida apartment block and a building on Barcelona's iconic Diagonal Avenue as part of transactions totaling more than $500 million in the past three months, according to data compiled by Bloomberg. The A Coruna, Spain-based firm is also in talks to buy an office building in Miami for $275 million, lining up a further addition to Europe's biggest real estate empire owned by an individual investor. Ortega, 89, has a net worth of about $103.7 billion according to the Bloomberg Billionaires Index. A representative declined to comment. The spending spree coincides with him receiving his biggest-ever annual dividend from the retail giant he founded more than six decades ago, with about half the expected €3.1 billion ($3.6 billion) paid out in early May. In a legal quirk, Ortega – Inditex's biggest shareholder with a 59% stake — must swiftly spend those payouts or face handing over a chunk of it in extra taxes in Spain, the only European Union nation that currently has a full-on wealth tax for rich residents. 'For Pontegadea the choice is simple: redeploy every euro of that Zara dividend or watch eight-figure cash bleed away every year,' said Marc Debois, founder of FO-Next, an advisory firm for family offices. 'This is liability management, not trophy-hunting.' Pontegadea's assets have swelled from the dividend payouts over the years, shaping it into one of the world's largest – and most active – family offices. Many of these firms are becoming increasingly influential in global business thanks to the wealth at their disposal and the need for reinvestment. Pontegadea had net assets of €34.3 billion at the end of last year, up 10.6% from 12 months earlier, according to registry filings published this month. Ortega's Inditex stake, though, still makes up the bulk of his wealth. At least a fifth of individuals among the world's 500 biggest fortunes now have a family office that help to oversee fortunes totaling more than $4 trillion, according to the index. Ortega founded the company that grew into Inditex in 1963. The son of a railroad worker, the billionaire never had his own office while he worked at the retailer, preferring to be alongside employees in the main design area. He stepped down as chairman in 2011 and was replaced by long-time executive Pablo Isla. His only child from his second marriage, 41-year-old Marta Ortega, took over in 2022. Sandra, 56, the daughter from his first marriage, controls the shares that her late mother held in Inditex. She doesn't have a role in the business and has diversified her own fortune into real estate, pharmaceuticals and hospitality. Her $12.4 billion net worth makes her Spain's richest woman, according to the Bloomberg Billionaires Index. Through Pontegadea, Amancio Ortega owns iconic properties such as New York's Haughwout Building, the Southeast Financial Center in Miami and London's The Post Building. He also controls prime residential and commercial real estate in cities from Toronto to Seoul — buildings that count Facebook, Inc., Zara, and even rival Hennes & Mauritz AB among tenants. In addition to real estate, Pontegadea can invest in energy infrastructure or stakes of at least 5% in publicly listed companies to reduce the threat of Spain's wealth taxes. The family office acquired major holdings in Spanish gas transportation operator Enagas SA in 2019 and, two years later, a Portuguese rival. For its infrastructure bets, Pontegadea has repeatedly turned to buyout giant KKR & Co Inc., underscoring the scale of the family office's investing operations. In 2018, it joined the Wall Street firm in becoming a shareholder in Telefonica SA's tower unit and the firms have since closed at least two further deals, including Pontegadea buying a 20% stake in KKR-controlled Dutch parking operator Q-Park during December. Pontegadea is also in talks with firms including KKR to acquire the Sabadell Financial Center building in Miami. --With assistance from Sabrina Nelson Garcinuño, Rodrigo Orihuela and Clara Hernanz Lizarraga. More stories like this are available on
India.com
3 days ago
- Business
- India.com
This man is top dividend earner of India, beats Mukesh Ambani, Gautam Adani, Narayana Murthy, Azim Premji, he is…
Mukesh Ambani and Gautam Adani (File) Some of India's richest billionaires became richer in FY25, not through stock market rallies or IPO gains, but through massive dividend payouts in cash. Ten of the country's top promoter groups, including Mukesh Ambani, Gautam Adani, Anil Agarwal, and Shiv Nadar earned over Rs 40,000 crore in dividends during the year. This year so far saw strong earnings and generous payout policies in multiple sectors like technology, telecom, metals, and pharmaceuticals. Shiv Nadar HCL Tech Dividend At the top of the dividend earnings chart is Shiv Nadar, the founder of HCL Technologies, who received Rs 9,902 crore in dividend income in FY25. HCL declared a total dividend of Rs 16,290 crore at Rs 60 per share, and the Nadar family, which has a 60.81 percent stake, was the biggest beneficiary. With a net worth of $37.3 billion, the 80-year-old philanthropist is India's third richest person and 50th globally on the Bloomberg Billionaires Index. Anil Agarwal Vedanta Dividend Close behind is Anil Agarwal, whose family received Rs 9,591 crore in dividend income from Vedanta. The company declared a total of Rs 17,009 crore in dividends for the year. The Agarwal family holds a 56.38 percent stake in Vedanta through various unlisted entities. Another notable name is M.A. Moopen, promoter of Aster DM Healthcare, who earned Rs 2,469 crore from the company. With a 41.89 percent stake and a dividend of Rs 118 per share, Aster emerged as one of the year's most generous cash distributors in the healthcare sector. Mukesh Ambani Reliance & Azim Premji Wipro Dividend Azim Premji, the founder of Wipro, earned Rs 4,570 crore in dividends in FY25. The Premji family owns 72.66 percent of Wipro, which declared a dividend of Rs 6 per share. Meanwhile, the Ambani family received Rs 3,655 crore in dividends from Reliance Industries, which declared a total dividend of Rs 7,443 crore for FY25. The Ambani family holds a 50.11 percent stake in the company, both directly and through unlisted entities, with dividends paid at Rs 5.50 per share. Narayana Murthy Infosys Dividend The promoter group of Infosys, which includes N.R. Narayana Murthy, Nandan Nilekani, S.D. Shibulal, S. Gopalakrishnan, and K. Dinesh, collectively received Rs 2,331 crore in dividend income. They jointly hold a 14.6 percent stake in Infosys, which paid out Rs 17,854 crore in total dividends at Rs 43 per share during the year. Sunil Bharti Mittal Airtel Dividend Sunil Bharti Mittal and his family, who promote Bharti Airtel, earned Rs 2,357 crore in dividends as the telecom company paid Rs 16 per share. Pharma giant Sun Pharma paid Rs 3,839 crore in dividends in FY25, from which promoter Dilip Shanghvi and his family received Rs 2,091 crore, thanks to their 54.48 percent holding. The Bajaj family received Rs 1,645 crore in dividend earnings, led by Bajaj Auto, which offered one of the highest per-share payouts at Rs 210. The family also received dividends declared by other listed companies in the group like Bajaj Holdings & Investments, Bajaj Finserv, Bajaj Electricals, Mukand, and Bajaj Finance. Gautam Adani Family Dividend Gautam Adani and his family earned Rs 1,460 crore in dividends from group companies, with the largest chunk, Rs 996 crore, coming from Adani Ports and SEZ. The remainder came from other entities including Ambuja Cements, Adani Enterprises, Adani Total Gas, and ACC.
Economic Times
3 days ago
- Business
- Economic Times
Rs 40,000 crore dividend boom! How Ambani, Adani & India's top billionaires got richer in FY25
Agencies Reliance Industries' Chairman Mukesh Ambani (left); Adani Group Chairman Gautam Adani (right) Some of India's richest billionaires became even richer in FY25, not through stock rallies or IPO windfalls, but through cold, hard cash. Ten of the country's most powerful promoter groups, including the Ambanis, Adanis, and Anil Agarwal's Vedanta, collectively earned over ₹40,000 crore in dividends during the a sign of India Inc's robust cash generation and generous payout policies, dividend income surged across sectors, from tech and telecom to metals and pharma. Billionaire philanthropist Shiv Nadar, founder of HCL Technologies, took home a jaw-dropping ₹9,902 crore in dividends in FY25, the highest among all promoter groups, according to data collated from regulatory filings and ACE which declared a dividend of ₹60 per share, paid out ₹16,290 crore in total. The Nadar family holds a 60.81% stake in the company. At a net worth of $37.3 billion, the 80-year-old tech magnate is India's third richest man and ranks 50th in the global Bloomberg Billionaires Index. Close behind in the payout list is Vedanta's Anil Agarwal, whose family earned ₹9,591 crore in dividend income during the year. Vedanta, which declared ₹17,009 crore in total dividends for FY25, has been under scrutiny for its aggressive cash returns, with short-seller Viceroy recently questioning the sustainability of such payouts. The Agarwal family holds 56.38% in the company through various unlisted holding entities. Also Read | $4 billion question: If promoters are selling, MFs are buying, should SIP investors worry? Azim Premji, the philanthropic billionaire and founder of Wipro, earned ₹4,570 crore in FY25. His family owns 72.66% of the company, which declared a dividend of ₹6 per Ambani family earned Rs 3,655 crore from Reliance Industries' dividend payout in FY25. Reliance Industries paid dividends worth Rs 7,443 crore, with the Ambani family owning 50.11 per cent directly as well as through unlisted holding companies. The family received Rs 5.50 per share in dividends. Also Read | Reliance Industries shares at inflection point. 6 reasons why FY26 could be the year of big re-rating Infosys promoters, including N R Narayana Murthy, Nandan Nilekani, S D Shibulal, S Gopalakrishnan, and K Dinesh, collectively received ₹2,331 crore in dividends. The promoter group owns 14.6% in the tech giant, which declared ₹17,854 crore in dividends at ₹43/share in FY25. Sunil Bharti Mittal and family, the promoters of Bharti Airtel, pocketed ₹2,357 crore in dividend income, as the telecom major paid out ₹16/share to investors. Dilip Shanghvi, India's original pharma billionaire, earned ₹2,091 crore from Sun Pharma in FY25. The company declared ₹3,839 crore in dividends and the promoter group holds a 54.48% stake. Gautam Adani and family earned ₹1,460 crore in dividends from their group companies, led by Adani Ports & SEZ (₹996 crore), with the rest coming from Ambuja Cements, Adani Enterprises, Adani Total Gas, and ACC. Bajaj Group promoters earned around ₹1,645 crore in FY25, led by Bajaj Auto, which had the most generous per-share payout of ₹210. The family also benefited from dividends across other listed group companies Bajaj Holdings & Investments, Bajaj Finserv, Bajaj Electricals, Mukand, and Bajaj Finance. A surprise entrant in the dividend heavyweights' club was M A Moopen, promoter of Aster DM Healthcare, who earned ₹2,469 crore in FY25. With a 41.89% holding and a ₹118/share dividend, Aster turned out to be one of the year's most generous cash givers in the healthcare space. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
