Tomás Olivo acquires Telefónica building in Madrid

Spanish businessman Tomás Olivo has officially acquired the historic Telefónica building on Madrid's Gran Vía for approximately 200 million euros. The building is recognized as the city's first modern skyscraper and remains one of the most iconic structures in Europe.

Olivo, often referred to as the king of shopping centers, manages his real estate empire through his company, General de Galerías Comerciales. Known for maintaining an extremely low public profile, Olivo is one of Spain's wealthiest individuals, with an estimated fortune exceeding 5 billion euros according to Forbes.

His career began in the Murcia region, where he worked in various manual labor roles before entering the construction and civil engineering sectors. He built his significant wealth through strategic real estate acquisitions and the development of commercial assets.