The great family sagas of the Spanish business community continue to cling to their status of almighty control of the Spanish Stock Market and, therefore, of the Ibex 35. The irruption for years of the large asset managers, in the heat of the funds indexed to stock market indices , and large funds and venture capital firms have not diminished the weight of a good handful of illustrious surnames that retain a heritage that borders on 100,000 million euros in the selective homeland. That is, they accumulate 20% of the total value of the index.
The amount is similar to that shown four years ago, despite the 15% drop registered by the Ibex since then, although new names have emerged among the top twenty positions in the heat of the changes in the composition of the selective of companies such as Rovi, Fluidra or CIE Automotive.
The Ortega family continues to lead, and by far, this classification. Its exposure to the Ibex adds up to a value of 57.3 billion euros at current prices. The founder of Inditex, Amancio Ortega, maintains a position of 59.294% in the textile group to which he has added in the last two years his commitment to energy companies: he has 5% of Enagás and another 5% of Red Eléctrica that has led to be its second largest shareholder.
But the Ortega surname goes further. His daughter Sandra Ortega, in addition to the 5.053% that he holds directly in Inditex, has a presence in the selective through the 5.01% that he holds in PharmaMar.
Far behind the Ortega family are the rest led by two families linked to construction: the Del Pino and the Entrecanales. The first family is linked to Ferrovial through a total stake that reaches 35.1%, which at market prices amounts to 7,000 million euros. Of all the brothers, the largest stake is held by Rafael, with 20.274% of the capital, followed by María (8.136%), Leopoldo (4.154%) and Joaquín (2.542%). Some shares that were together until in 2015 they chose to separate them.
Los Entrecanales, in turn, add a joint stake in Acciona with a value of 5,000 million thanks to the 55,122% that they hold via two Dutch companies.
The fall from grace of the banking sector, heavily penalized on the stock market by years of low interest rates that have reduced its margins, has taken the Botín family to eighth position in the ranking. A good part of the 1,300 million euros that they maintain in the Ibex is due to the 23.2% that Jaime Botín of Bankinter holds, and about 374 million that add up to the shares of his nephews Javier and Ana in Santander.
The founding families of pharmaceutical and biopharmaceutical companies have surpassed the Botín after the landing of these companies on the Ibex. The Grífols saga controls 31.11% of the company through four different vehicles.
They are followed by a family recently arrived at the Ibex, the López-Belmonte, who maintain 60.17% of Rovi. The company has managed to rise 94.7% on the stock market in 2021 thanks in large part to its contract for the manufacture of Moderna’s Covid-19 vaccine.
Another Catalan saga, the Gallardos, adds up to 1,200 million thanks to the 59.7% they have in Almirall. The sale of swimming pools and wellness has also given the key to this classification to several Catalan families with a presence in Fluidra, the Serra Dufo, Planes, Godia and Puig Rocha.
They have little Spanish but the Mittals, second in the table, are also included in the ranking. The 34.43% that control this family in ArcelorMittal has a market value of 9,600 million euros thanks to the recovery that the company has undergone on the stock market in 2021, of 49%, which has led it to trade at levels not seen since 2018.
Own names
The Albertos. Undisputed protagonists of Spanish business history for decades, the cousins Alberto Cortina and Alberto Cortina Alcocer add up to 17.744% in the capital of ACS. Behind them is Florentino Pérez, with 12.84%.
Manuel Lao. The founder of Cirsa is diversifying his investments after the sale of the slot and casino company to Blackstone for more than 2,000 million in 2018. Within the Ibex, he owns 6.27% of the Merlin Socimi. To this he adds 3% in Sacyr outside the selective.
March. Present in the capital of Acerinox Indra and CIE Automotive through its investment arm Corporación Financiera Alba.
Banks. Acek Desarrollo y Gestión Industrial, the family holding company headed by brothers Jon and Francisco Riberas, holds 15.693% of CIE Automotive.
Aperrabay. The Basque family has entered Indra’s capital through the purchase of 5% from Alba. The acquisition has been orchestrated through SAPA, the holding company specialized in defense of the Aperrabay.
cincodias.elpais.com