Currency Exchange and Business
It is unclear how McManus accumulated his vast wealth and what his expertise is but a significant part of his wealth, though not all, is inferred to have been derived as a private foreign exchange trader which he oversees from his office in Geneva, Switzerland, his official residence. He also has a permanent suite at London's Dorchester Hotel. He returns to Ireland regularly. Currencies are apparently his speciality and his bets on currencies are bank-scale, always working on the advice of his good friends Dermot Desmond and Joe Lewis. He is featured in "High Rollers of the Turf", by Raymond Smith. He now has a wide portfolio of investments from leisure centres and betting shops to pubs and nursing homes. He is a large shareholder in Ladbrokes.
Together with business associate John Magnier he built up a 28.89 per cent shareholding in Manchester United F.C., which they sold on to businessman Malcolm Glazer. In 2004, McManus set up 'Sporting Limerick' which sponsors Limerick GAA teams.
He is also a keen golfer and a close friend of Tiger Woods who got married at the Sandy Lane (resort) Hotel in Barbados, which he co-owns. The wedding at Sandy Lane was a gift from the owners of Sandy Lane to Woods.
An avid golfer, he routinely competes in Pro-Am events. He is a two-time winner of the Alfred Dunhill Links Championship pro-am pairs competition, partnering with Padraig Harrington on both occasions.
Read more about this topic: J. P. Mc Manus
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