There is tension in the air in Spanish football as their biggest and richest club, Real Madrid, is suddenly off the tenterhooks, all thanks to a press conference gone wrong from their 79-year-old president.
According to the Forbes annual soccer team valuations, Real Madrid sits firmly at the pinnacle of the sporting world, officially valued at a staggering $6.75 billion. It produces more revenue ($1.13 billion annually) than any other club on earth.
Florentino Perez, their president, is in the eye of the storm. But why is the question?
The Press Conference That Caused The Storm
It was supposed to be a harmless press conference, called to deny rumors regarding his health and to boast about his legacy. But on that fateful day of May 12, it ballooned into something neither the President, nor the club saw coming.
Perez openly fought with journalists, canceling newspaper subscriptions live on air, and fiercely attacking what he deemed a “targeted campaign” to undermine his leadership.
The flashpoint of the press conference, however, was how he treated a female reporter. When giving her the floor, the Real Madrid president dismissively referred to her as “that girl,” and went on to explicitly question her football knowledge by stating on air, “a woman, I don’t know if she knows anything about football.”
The backlash in Spain was immediate. The Spanish Minister of Equality, Ana Redondo, publicly condemned Pérez, labeling his words an example of “anachronistic, structural machismo that is absolutely out of place.” The Secretary of State for Equality, María Guijarro, echoed the sentiment, demanding professional respect for sports journalists and stating that women should not be “infantilized, ignored, or questioned” simply because of their gender.
Who is Florentino Pérez and What is His Wealth?
Florentino Pérez Rodríguez is a Spanish billionaire, civil engineer, and former politician who has become the most successful president in Real Madrid’s history, winning a record 37 football titles—surpassing the legendary Santiago Bernabéu (32).
- The Origin of Wealth: Pérez’s primary fortune does not come from sports. He is the Chairman, CEO, and largest individual shareholder of Grupo ACS, a publicly-traded Spanish civil engineering and construction behemoth. ACS is one of the largest infrastructure groups globally, heavily operating across North America, Europe, and Australia.
- Net Worth: According to the Forbes Billionaires List, Florentino Pérez boasts a personal net worth of $7.5 billion, making him one of the wealthiest men in Spain.
I’m Not Resigning: Why fresh elections have been called for the post of Real Madrid President?
Amid intense pressure regarding his outbursts and the club’s administrative choices, Perez delivered a defiant, iron-fisted exit remark that shocked the media room:
“I am not resigning; I am calling an election.”
Rather than stepping down, Perez dynamically called for a snap election process, daring anyone to challenge him while announcing that he fully intends to run for yet another term.
Who is in Line to Succeed Him?
To understand the succession line at Real Madrid, one must understand the club’s intentionally restrictive bylaws. Real Madrid is owned by its fans (socios), meaning a traditional billionaire cannot simply buy the club. To even run for president against Pérez, a candidate must meet impossible criteria:
- Must have been a club member (socio) for at least 20 consecutive years.
- Must personally guarantee 15% of the club’s annual budget—which currently translates to a massive €187 million ($219 million)—backed entirely by personal assets, certified by a Spanish bank.
Because of these rules, Perez has run completely unopposed in 2013, 2017, 2021, and 2025. However, a potential successor has stepped into the light.
The Challenger: Enrique Riquelme
Following Perez’s snap election call, Enrique Riquelme, a mega-rich 37-year-old Spanish billionaire businessman, has emerged as the most viable candidate to eventually succeed Pérez. Riquelme is the president and founder of Cox, a massive renewable energy and water transition global conglomerate.
Riquelme has officially requested the electoral board for more time to formalize his candidacy to challenge the regime. True to form, Pérez publicly dismissed the young billionaire’s request on television, stating: “When I ran in the 2000 elections, I didn’t ask for more time; I ran and I won.”
Will Perez bow down?
The nomination window closes on May 23. If Riquelme or another elite member cannot mobilize $219 million in personal assets to back a candidacy in time, the 79-year-old Florentino Perez will once again run unopposed. For now, the billionaire patriarch who commands a $6.75 billion empire refuses to yield his throne, proving that at Real Madrid, he still calls all the shots.