Just three Spaniards own more than 30% poorest

Inditex/Zara clothing magnate Amancio Ortega (L), daughter Sandra, Mercadona owner Juan Roig. Photos: Europa Press
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• Zara chain’s Ortega, his daughter and Mercadona’s Roig top wealth pyramid
• Oxfam Intermón says three own more than 14.2 million poorest Spaniards

Oxfam Intermón, the Spanish affiliate of the iternational aid organisation Oxfam, has said that a new report released on the even of the Davos summit of the world’s economic elite in Switzerland, shows just three Spaniards — Amancio Ortega, the founder of Spain’s textile and clothing behemoth Inditex, his daughter Sandra and the president of Mercadona, Juan Roig — own the same amount of wealth betweem them as do the poorest 30 percent of the Spanish population.

The Oxfam Intermón statement comes as global parent organization Oxfam released a report entitled An economy for 99%, showing that just eight individuals — all of them men — account for as much wealth as do the poorest 50 percent of the world’s population. Oxfam has labelled the current distribution of wealth in the world “obscene” and has called on the global economic and financial elite to implement reforms to curtail the amount of remuneration going to those at the top of the global economic pyramid.

In Spain, the three wealthiest individuals named by Oxfam Intermón control more wealth than do the 14.2 million poorest Spaniards, with just 10 percent of the richest Spaniards hold more weath then the entire remainder of the Spanish population combined. Spanish business magnate Amancio Ortega, named in the Oxfam report, is the founder and former chairman of Inditex fashion group, best known for its chain of Zara clothing and accessories retail shops.

► Read More in Spanish at Europa Press and 20minutos …

► Read More in English at BBC News and Reuters …

► Read Summary in English about the report An economy for 99% …

► Download PDF of the Full Report An economy for 99% …

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