Manuel Jove is a Spanish entrepreneur and billionaire who ventured into business in the late 1970s and founded the real estate company Fedesa. A carpenter by trade, Jove started the business with his own private capital. Fedesa Inmobiliaria is now the largest independent real estate company in Spain. In 2006 Jove sold 55% of his stake in Fedesa to real estate group Martinsa for $3 billion.
He sold it just in time before the collapse of the Spanish real estate bubble. He used this money to create new projects and investments, and in early 2007 Inveravante Corporation was founded. Since then, the Corporation has continued to invest heavily in private equity, renewable energy, agri-food, management and land development sectors. However, dissatisfied with the deal, Martinsa filed for bankruptcy two years later and sued Jove on March 2011 claiming that the acquisition price of Fedesa had been inflated.
In September 2012, the defendants lost the case to Jove. In 2012, his Inveravante investment group signed an investment deal with Hilton Worldwide to open Hilton branches in Tangier. He has also since then reduced his stake in Banco Bilbao Vizcaya Argentaria. According to the latest Forbes count, Manuel Jove has a net worth of $2.7 billion. He is married and has two children. Jove also enjoys woodworking besides being an avid art collector.