Alvaro Noboa Net Worth is$1 Billion
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Profession: Politician | Businessperson
Date of Birth: 1950-11-21
Nicknames: Alvaro Noboa
Country: Guayaquil
?lvaro Noboa Net Worth: ?lvaro Noboa is an Ecuadorian businessman and politician who has a net worth of $1 billion. Born on November 21, 1950, in Guayaquil, Ecuador, he made his money in real estate before taking control of his father's company, and eventually getting himself actively involved in politics. The son of one of Ecuador's richest plantation owners, Noboa had the chance to educate himself in the best schools. After he finished school at La Salle School in Guayaquil, he went to Le Rosey in Switzerland, achieving at both the standard of best student. Next, he took a lawyer's degree from the University of Guayaquil and undertook graduate studies in Management at the American Management Association in New York. In 1973, Noboa set up a firm that unites several real estate companies called Promandato Global S.A. As such, it is one of the largest firms in Ecuador. In the late 1980?s, he went on to establish a monthly magazine (Revista La Verdad) and other investment companies on an international scale (Global Financing Company), as well as he founded one of the most reliable Ecuador's banks (Banco del Litoral). In 1997, he took over the stock and corporate control of his father's companies and also he has been already managing 110 companies in Ecuador and the world (Europe, Japan, New Zealand, United States, Argentina) all of them established through his own initiative. Meanwhile, he acquired the presidency over the Ecuadorian Monetary Board, and in less than six months, achieved the highest monetary reserve in the history of the country with more than two billion dollars, an amount never before achieved. What's more, he is the Founding President of the Realtors Association, of which he is now Honorary Life President. Representing his political party, Noboa unsuccessfully ran for the office of President of Ecuador in 1998, 2002, 2006, and 2009. However, he was elected national assemblyman in 2007 and he decided to be running for a fifth time to become the President of Ecuador in the upcoming 2013 Ecuadorian Presidential Elections. Having enormous wealth and power, Noboa founded the "New Humanity Crusade" and the Joint Actions Foundation around 26 years ago, assisting various vulnerable social groups.
??lvaro Fernando Noboa Pont??n (born November 21, 1950, in Guayaquil) is an Ecuadorian businessman and politician.
Noboa has been actively involved in politics, unsuccessfully running for the office of President of Ecuador in 1998, 2002, 2006, and 2009. In 2007, however, he was elected national assemblyman. Noboa announced on May 2, 2012, that he would be running for a fifth time to become the President of Ecuador in the upcoming 2013 Ecuadorian Presidential Elections
In 1997, already owning 24% of Bonita Bananas, Noboa purchased another 25% of the shares, the holding company for the family business. Presently, he runs the Noboa Group of Companies and Noboa Corporation, with more than 110 companies in Ecuador and around the world, including branch offices in United States, Antwerp, Rome, Japan, Argentina, and New Zealand.
Some of Noboa's Ecuadorian companies have faced lawsuits and Servicio de Rentas Internas claims. The banana exporting company also has been audited by international organisations due to child labor issues and strike conflicts.
Noboa's major company in Ecuador, Exportadora Bananera Noboa, faced as of February 2009, an assessment of three hundred million dollars (Ecuador was dollarized in 2000) imposed by the governmental revenue service of Ecuador, the SRI. A representative of TP Consulting, an independent audit firm, stated that what is in question is the price for a crate of bananas: that which the SRI has fixed is a number above that determined by other parts of the government (the Ecuadorian banana business is regulated by the government which sets prices paid to producers for bananas, the cost of exportation and the referential FOB price.). The representatives of Bananera Noboa have stated that exportation prices were within the range of prices of exportation of other exporters, according to information from the Central Bank of Ecuador. The audit, undertaken by TP Consulting (who were contracted to carry out a study of the transfer

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Alvaro Noboa Latest News

Ecuador's Correa declares victory in presidential poll

The other candidates included former president Lucio Gutierrez, a retired army colonel who was ousted by Congress amid a popular revolt in 2005, and the country's richest man, Alvaro Noboa. Correa has brought a measure of political stability to Ecuador ...
Posted: February 17, 2013, 6:33 pm

Ecuador prepares for presidential vote

The other candidates include former president Lucio Gutierrez, a retired army colonel who was ousted by Congress amid a popular revolt in 2005, and the country's richest man, Alvaro Noboa. Correa has brought a measure of political stability to Ecuador ...
Posted: February 16, 2013, 6:54 pm

HSBC leak shows Venezuela among top clients in secret Swiss bank accounts

The Latin American personalities that made the list include politicians, business moguls and sports stars. Alvaro Noboa, Ecuador’s richest man and a former presidential candidate, reportedly had up to $92 million in HSBC accounts. President Alvaro Correa ...
Posted: February 9, 2015, 2:30 am
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