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Alvaro Noboa was born Alvaro Fernando Noboa Pontón.
Noboa was initially a member of the Ecuadorian Roldosist Party. However, he eventually left the party and formed his political party, the Institutional Renewal Party of National Action.
Noboa's companies have offices worldwide, such as in Italy, New Zealand, the USA, and others. He has inspired all businessmen since he started his entrepreneurial journey with just one company and has set up over 100 companies. He remains one of the most respected businessmen and politicians in his home country and has established a global presence through his foundation. Read along to know more!
Noboa has an estimated net worth of over $1 billion.
There is no information available regarding Noboa's annual income. However, he is estimated to earn a good amount via revenue from his multiple businesses.
There is currently no information available regarding Alvaro Noboa's height.
Noboa's birthday is on November 21. He was born in 1950, which makes him 71 years old as of July 2022.
Noboa was born in Guayaquil, Ecuador to Isabel Pontón Avila and Luis Noboa Naranjo. He also has a sister by the name of Isabel Noboa, who is his business executive. His father was a businessman, and he took over the family business from him. His brother-in-law has been the president of the country's National Congress. There is no further information available regarding his childhood and early family life.
Noboa completed his schooling at San José La Salle Catholic School before studying at the Institut Le Rosey in Switzerland. He also enrolled at the Guayaquil State University, where he completed his degree in law. He has also studied Business Administration at the American Management Association located in New York. Despite having a formal education in law, he decided to pursue his career as a businessman.
Noboa is married to his wife, Annabella Azín. He also has four children, Daniel Noboa, Juan Sebastián Noboa, Carla Noboa, and Santiago Noboa.
Noboa ran for the post of Ecuador's president on five different occasions. He was elected as a member of the national assembly in 2007. One of his most significant assets was Bonito Bananas, the banana exporting company, of which he already owned 24% in 1997. The same year, he went on to buy another 25% of the company's shares.
Noboa set up Promandato Global S.A., a firm that unifies several smaller real estate firms to create a giant in the real estate sector in Ecuador. He also entered the media business by setting up a Revista La Verdad magazine. He was also the founder of one of the biggest banks in Ecuador called, the Banco del Litoral. The bank established a reputation of being one of the most reliable in the entire country. Noboa has also invested in foreign projects and companies and set up several foreign investment companies, including the Global Financing Company.
Noboa solidified his position as one of the country's most prominent business people by being invited to the Entrepreneurial Meeting for Latin American business people. He has been a regular presence at the meeting every year since 2003. The first time the meeting was held was in 2003, and it aimed to discuss various social issues in the region and how they impacted multiple businesses.
Noboa was also elected to the head of the country's Monetary Board by the president. Noboa was part of a small economic team that included David Goldbaum and Domingo Cavallo. He set the target of stopping the privatization practices that had been practiced heavily by the previous administration.
He drew inspiration from the administration in Bolivia and aimed to replace privatization schemes with the capitalization of assets owned by the state. He aimed to get rid of subsidies on gas and even decided to sell a portion of their national telecom company and a portion of the state's energy companies. He was a vocal critic of the government revenue service and believed it could raise a lot more money by setting up laws to go after those who defaulted on their taxes or paid them late.
Despite his changing affiliations with regard to political parties, he has been a vocal proponent of bringing changes to aid public service. He has always been constantly searching for new markets, setting up new ways to attract foreign investors to Ecuador. He has been a vocal proponent of the need to attract investments from around the globe to establish Ecuador as a developed country.
He was also critical of the country's previous administration for not attracting enough investors, stating that he had been invited by foreign countries such as France and Spain to invest in their projects. Through his experiences abroad, he tried to learn about the opinion of those countries regarding Ecuador and the products it manufactures for the world. He has tried to use these learnings to improve the quality of goods produced by Ecuador to attract more trade.
Noboa set up the Crusade for a New Humanity Foundation to combat disease and ignorance among the population. The foundation emphasized health care and launched a scheme to ensure that healthcare was available in rural and inaccessible areas across the country. He has also been the organizer of Biennale events on three different occasions, aiming to bring art from different parts of the world together under one roof, and recognize artists all across the globe with awards.
Besides his interest in politics and philanthropy, Alvaro Noboa maintains a strong presence on social media. His Instagram account has over 44,000 followers as of July 2022. He is also active on Twitter, with over 26,000 followers on his account as of July 2022.
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