This article has two objectives: to analyse a leading businessman, José Martínez Rivas, a distinguished leader of Biscayan industrialization, and to apply economic theory to his case for a better understanding of Spanish business history. The business life of Martinez Rivas and the evolution of his fortune has been reconstructed with archive sources. The article is divided into three parts. The first section examines the origins and first years of his main business activities. A second section describes the evolution and results in each of these. A third and final part, applies Schumpeterian entrepreneur theory to Martinez Rivas' business initiatives. The conclusions summarize the main contributions of this work and open a door to further related research and the theory applied.
