What is Manuel Jove's Net Worth?
Manuel Jove is a Spanish entrepreneur who has a net worth of $2.5 billion. A carpenter by trade, Manuel Jove started his own business in the late 1970s. With private capital, mostly from the Jove himself, Fadesa Inmobiliaria has become the largest independent real estate group in Spain. In 2004, Jove took the company public, while two years later he sold his 55% stake to real estate group Martinsa for $3 billion. He seemed to have sold it just in the right time, i.e., before the collapse of the Spanish real estate bubble. Martinsa filed for bankruptcy two years later, and in March 2011 sued Jove over the purchase price of Fadesa, claiming it had been inflated.
Jove won at court in September 2012, along with all legal costs. In the meantime, Manuel Jove started working on new projects and investments via his Inveravante Corporation that he set up in early 2007. Ever since, his Inveravante investment group continues to be active in private equity, renewable energy, residential and commercial development, as well as hospitality. In 2012, the company concluded a deal with Hilton Worldwide to open two new Hiltons in Tangier. Not to mention, Jove cut his stake in Banco Bilbao Vizcaya Argentaria, one of Spain's largest banks, from 5.1% to 2.99%. Married with two children, Jove is an avid art collector and enjoys woodworking.
