Reported 29 days ago
Billionaire Amancio Ortega, Spain's richest man and founder of Zara, is making significant investments in Britain's infrastructure, notably acquiring a 49% stake in PD Ports. This move comes amidst Spain's stringent wealth tax, which encourages Ortega to transition from purely property investments to sectors that might reduce his tax liabilities. While his family office emphasizes good business practices, the strategic shift into energy and logistics may provide beneficial tax exemptions, highlighting potential unintended consequences of wealth taxation.
Source: YAHOO