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Biography
Fluxa Rossello is the executive chairman of Grupo Iberostar, one of Europe's largest hotel companies.
In 2017 Iberostar generated more than $2.9 billion in revenues; it has hotels in 30 countries and 27,100 employees.
The roots of the Iberostar Group date to the 19th century when the Fluxa family started a footwear business in Majorca, Spain.
In 1986 Miguel joined the family company, which was still small, and founded the first Iberostar hotels in Majorca and the Canary Islands.
In 2006 he sold the group's tour operator and travel agency divisions to the Carlyle Group for $950 million.
Financial Assets
Financial assets information not available.
The Great Lie of Mega-Fortunes: The Case of Miguel Fluxa Rossello
Billionaires are often presented under the romantic myth of the 'self-made person': a narrative designed to justify opulence as the natural reward for hard work, effort, or ingenuity. However, when confronting such extreme volumes of wealth with macroeconomic reality, the meritocracy narrative completely breaks down. No individual can legitimately generate through personal effort a fortune equivalent to millions of times the average working-class salary. Capital at the top does not grow because of exceptional talent; it expands through an implacable dynamic where accumulated money works exponentially faster than people, devouring the wealth generated by productive labor.
The immense fortune of Miguel Fluxa Rossello, linked to Service and 'Hotels', has not been built in a free-market vacuum, but through rent-seeking, the use of exclusive elite influence, the consolidation of monopoly positions, or inherited wealth. Far from taking real private risks, billionaire empires structurally depend on state support through direct subsidies, infrastructure use, exploitation of R&D, public contracts, and offshore tax engineering. While this wealth is equivalent to the physical weight of 30 tons of pure gold, the rest of the planet suffers from an artificial scarcity of basic resources. The fact that this wealth is enough to fully fund the public health system of DR Congo, a country with more than 105800000 million inhabitants for 1.9 years, proves that unlimited accumulation is not an entrepreneurial achievement, but the hijacking of democratic sovereignty.