What is Isidoro Alvarez's Net Worth?
Isidoro Alvarez is a Spanish entrepreneur who has a net worth of $1.4 billion. Known for being the current president of El Corte Ingles, Mr. Alvarez has joined the billionaire ranks thanks to his stake in the group. El Corte Ingles currently ranks as one of Spain's largest department store retailers with revenues shy of $19 billion. It was founded in 1940 by Alvarez's uncle who welcomed him at the company when he was 18.
Upon Areces' death in 1989, Alvarez acquired the position of chairman. Since he has no kids, Alvarez is said to have unofficially dubbed his nephew as the heir to the retail empire. While El Corte Ingles main focus remains pointed towards department stores, it also dabbles in supermarkets through its Hypercor stores and into the travel industry through its Viajes El Corte Ingles travel agency.
