Abel Matutes. Photo: Diario de Ibiza

Abel Matutes and his family are ranked 50th on Spain’s top 200 rich list published by El Mundo.

The Matutes family are said to have a net worth of 1,025 million euros.

Only 1 year ago they were at number 100 on the list, but their net worth is said to have increased by 575 million euros in the last year, more than doubling their official fortune.

Balearic Billionaire; Matutes' Fortune Tops 1 Billion Euros
Balearic Billionaire; Matutes' Fortune Tops 1 Billion Euros

Among their biggest assets are Fiesta Hotels and the Palladium Hotel Group, however there is no information given as to what specifically has been responsible for such a big increase year on year – though we’ll be surprised if someone doesn’t mention the price of drinks at Hi in the comments :-)

Balearic Billionaire

Despite his fortune topping the billion mark, Abel Matutes is not the richest man in the Balearics. In fact Ibiza’s emperor of the empresarios is in 6th position.

First place belongs to Juan and Carlos March Delgado (Grupo March and Corporación Financiera Alba), with 5 billion euros, and in second place Miguel Fluxá Roselló and family (Iberostar and Camper), with 1,550 million euros.

The richest in Spain

The first place of the 200 richest in Spain is again held by Amancio Ortega, with a net worth of 62 billion, despite a 7.3% decrease from 2017.

In second spot it is Juan Roig Alfonso (owner of Mercadona) with 9.2 billion, and in third Rafael del Pino and family (Ferrovial) with 7,050 million euros.

The richest woman in Spain occupies 4th spot. Sandra Ortega Mera (daughter of Amancio Ortega), has amassed a 7 billion euro fortune from her 5% stake in Inditex and her real estate business.