Álvaro Noboa facts for kids
Quick facts for kids
Álvaro Noboa Pontón
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Noboa in 2013
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| Born | November 21, 1950 Guayaquil, Ecuador
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| Occupation | Businessman |
| Political party | PRIAN (2002–2014) |
| Spouse(s) | Anabella Azín |
| Children | 4, including Daniel Noboa |
| Parent(s) |
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| Relatives | Isabel Noboa (sister) |
Álvaro Fernando Noboa Pontón (born November 21, 1950) is an Ecuadorian businessman and politician. He is well-known in Ecuador. He is also the father of the current president, Daniel Noboa.
Noboa has been very active in politics. He ran for President of Ecuador five times. These attempts were in 1998, 2002, 2006, 2009, and 2013. He did not win any of these presidential elections. However, in 2007, he was elected as a national assemblyman. In 2023, his son, Daniel Noboa, was elected President of Ecuador. Daniel became the youngest person ever to hold this position.
In 1997, Álvaro Noboa bought more shares in his family's banana business. He already owned 24% of Bonita Bananas. Today, he leads the Noboa Group of Companies and Noboa Corporation. This group includes over 110 companies. They operate in Ecuador and other countries. These countries include the United States, Japan, and New Zealand.
Contents
About Álvaro Noboa's Life
His Early Life and School
Álvaro Noboa was a top student in high school. He attended San José La Salle Catholic School in Guayaquil. He also studied at the Institut Le Rosey in Switzerland. Later, he went to the University of Guayaquil. There, he earned a law degree. He also studied Business Administration in New York. He can speak three languages. Álvaro chose to work in business. He became a successful entrepreneur.
His Family
Álvaro Noboa has a sister named Isabel Noboa. She is also a business executive. His brother-in-law, Omar Quintana, was president of the C.S. Emelec football club. He also served as the former President of National Congress of Ecuador. Álvaro's son, Daniel Noboa Azin, became president in November 2023. He won the 2023 Ecuadorian general election.
Álvaro Noboa's Businesses
Managing the Family Business
Álvaro Noboa's father, Luis Noboa Naranjo, started the family's banana business. After his father passed away, there were long discussions about his wealth. A British court decided in 2002 that Álvaro rightfully owned a large part of the family business. This part was worth a lot of money. Noboa says his total assets are worth even more.
His father's company mainly exported bananas. But it also had interests in coffee, sugar, and banking. The main company for overseas business was in the Bahamas.
His Companies
In 1973, Noboa started Promandato Global S.A. This company brings together several real estate businesses. It is one of the biggest firms in Ecuador. In 1988, he created Revista La Verdad, a monthly magazine. He also founded Banco del Litoral in 1988. Later that year, he started Global Financing Company. All these businesses are part of the Noboa Group. His banana exporting company, Exportadora Bananera Noboa, had sales of over $200 million in 2004 and 2005.
Meetings with Business Leaders
Since 2003, Álvaro Noboa has attended a yearly meeting for Latin American business leaders. This meeting started in 2003. It was an idea from Mexican businessman Carlos Slim. The goal of these meetings is not just business. They also talk about social issues in the region. These meetings have been held in different countries.
Challenges with Workers
There have been some challenges regarding workers' rights in Noboa's companies. Some groups said that workers were unfairly let go for joining unions. In 2002, there was an incident where striking workers were attacked. A report mentioned some workers were shot.
Noboa's company stated that these actions were not legal. They said the worker groups did not follow the rules. The company claimed that police had to get involved to protect company property. They also said the conflict caused big losses due to the work stoppage.
Addressing Child Labor Concerns
Noboa Group was also mentioned in a report about child labor in the banana industry. In 2002, a report said that children as young as eight worked on banana farms in Ecuador. They worked in dangerous conditions. Adult workers were afraid of being fired if they tried to organize.
Noboa's company said this was not true. They explained that in some rural areas, children helped their families during vacations. This was to help their families and keep them busy. The company stated that any work done by minors was suitable for their age. They also said that child labor has not existed in their agricultural businesses for many years. This is because they took steps to stop it.
Business Strategies
Finding New Markets
Álvaro Noboa is always looking for new business chances. He is also concerned about Ecuador's economy. In 2009, he decided to find new international markets for his products. He met with investors from other countries.
He said that Ecuador had "an internal crisis." This made him look to countries like France, Croatia, and Spain. These countries invited him to invest there. He felt there was not enough support for businesses in Ecuador. He mentioned that in other countries like China and India, businesses get tax breaks and support. He felt that in Ecuador, businessmen were treated differently.
Noboa believes that Ecuadorian products like bananas, flowers, and tuna are good quality. He saw England and Eastern Europe as new possible customers. He also felt that Ecuador's political system made other countries view it negatively.
Company Registrations
In 2005, an investigation found 99 companies in Ecuador. These companies were registered to unusual addresses. All of them were connected to Noboa's businesses. These companies were listed as third-party businesses. They hired workers for larger companies. The same phone number was found for all these companies. It connected to Noboa Corporation. The companies were also traced to an empty warehouse. Noboa's company said they knew nothing about these links.
Noboa's Museum
On January 25, 2006, Álvaro Noboa opened the Luis A. Noboa Naranjo Museum. This museum honors his father. It shows his father's important art collection. Since 2012, Noboa has supported three art events called Biennales. These events show art from artists worldwide. They also give out important awards.
Tax Discussions
In March 2005, Ecuador's government closed one of Noboa's companies. This was because it did not file a tax return. Another Noboa company was found to owe a large amount in back taxes. This was part of a review of Noboa's many companies.
Other Noboa businesses also received notices about taxes owed. A member of Noboa's political party called these reviews "blackmail." She said the tax issues appeared after Noboa did not join a political group. The head of Ecuador's tax office denied this. He said that many taxpayers were reviewed. He stated that politicians should also pay their taxes.
Helping the Community
In 1977, Noboa started the Fundación Cruzada Nueva Humanidad (Crusade for a New Humanity Foundation). This foundation aims to fight poverty, sickness, and lack of knowledge. It is based on Christian beliefs of love and unity. The foundation continues its work today.
According to the foundation's website, its medical teams provide ongoing medical help. They visit rural areas and cities across the country. They are always ready for emergencies.
Álvaro Noboa in Politics
His Political Roles
In 1996, Álvaro Noboa was named President of Ecuador's Monetary Board. This was by the president at that time, Abdalá Bucaram. Noboa was one of the last people to leave the presidential palace when Bucaram left office.
During his time on the Monetary Board, Noboa owned a small bank. He worked with an economic team. This team included important financial advisors. Noboa promised to change some government policies. He wanted to focus on improving state-owned companies. He also thought the government could get more money by collecting taxes from those who avoided them.
His Political Party
Noboa leads the Institutional Renewal Party of National Action (PRIAN). This is a populist party. He started it himself. He created it after leaving another political party.
Facing Criticism
Since he first ran for president in 1998, Noboa has faced many criticisms. These include claims about his businesses and taxes. He has also faced personal attacks. He says these attacks come from powerful opponents in the country. He believes they want to harm his reputation and stop his work. He says he is fighting corruption and helping the poor.
In 2009, Noboa spoke publicly about these issues. He called the accusations unfair. He said, "I have been attacked through my businesses." He stated that he and his companies are among the biggest taxpayers. He also said he has good relationships with his workers. He believes people have tried to ruin him. He says he earned his wealth through hard work. He feels proud to create jobs and help people. He provides free medical care to many Ecuadorians. He says he will keep working for Ecuador's progress.
Running for President
In 1998, Noboa ran for president for the first time. He came in second place in the first round of votes. He then went against Jamil Mahuad in a second round. Noboa lost by a small number of votes. After the election, Noboa claimed there was fraud. He asked for a recount of the votes.
He ran for president again in 2002. He reached the second round but lost to Lucio Gutiérrez. In 2006, he ran a third time. He won the first round but lost to Rafael Correa in the second round. Noboa did not accept defeat at first. He suggested he might challenge the vote count.
Noboa ran for president a fourth time in 2009. This time, he came in third place. Rafael Correa was reelected. On May 2, 2012, Noboa announced he would run for a fifth time in 2013. He warned that the government might try to stop him.
Campaign Spending
Noboa was fined in 2002 for spending too much on his campaign. He spent more than the allowed limit. The fine was twice the extra amount he spent. In 2004, he offered to pay the fine with financial papers instead of cash. These papers would lose value when exchanged. The election agency accepted his offer. The head of this agency was a member of Noboa's party.
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Category:Noboa family
| 1950s births: | 1950-1951-1952-1953-1954-1955-1956-1957-1958-1959 |
This category has articles on people who were born in the year 1950.
See also: 1950 deaths.
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Category:Ecuadorian Roldosist Party politicians
Category:Members of the National Congress (Ecuador) Category:Institutional Renewal Party of National Action politicians Category:Alumni of Institut Le Rosey Category:Candidates for President of Ecuador
See also
In Spanish: Álvaro Noboa para niños
