John Patrick McManus, widely known as J.P. McManus, is a celebrated Irish businessman, investor, and racehorse owner with an estimated net worth of $1 billion. A significant figure in the world of horse racing, McManus has made a name for himself through strategic investments in sports, real estate, and foreign exchange markets. His financial empire extends far beyond his equestrian passion, encompassing healthcare investments, luxury hotels, and involvement with Manchester United. Despite his remarkable achievements, McManus has been a subject of controversy, particularly concerning his tax exile status.
Early Life and Background
Born on March 10, 1951, in Limerick, Ireland, J.P. McManus is the eldest of five siblings, including Kevin, Owen, Gerry, and Michael. Raised in a modest household, McManus attended Christian Brothers School on Sexton Street before his family relocated to Ballysheedy. He began his professional journey by working at his father’s machinery contracting business. However, it was at the age of 21 that McManus took his first major step toward financial independence when he acquired a bookmaker’s license, setting up shop at the Limerick Greyhound track.
Business Ventures and Investments
McManus established Leicosa SA, a family office in Geneva, Switzerland, in 1994, specializing in foreign exchange currency markets. Additionally, he holds a directorial position at Liberties Strategic Services, which operates in both Geneva and Bermuda.
Alongside Irish businessmen John Magnier and Dermot Desmond, McManus has made several high-profile investments. The trio owns Barchester Healthcare, a leading care home operator in the UK, and has also invested heavily in Ladbrokes, a major betting and gaming company.
McManus is well known for his investments in luxury real estate. His most notable acquisitions include Sandy Lane, a high-end resort in Barbados, which he demolished and rebuilt at a staggering cost of $450 million. In 2014, he purchased Adare Manor in Limerick, Ireland, an opulent property set to host the 2027 Ryder Cup.
Sports Involvement and Equestrian Success
McManus’s passion for horse racing has led him to become one of the most successful owners in the sport. His distinctive green and yellow silks have become synonymous with victory, particularly at the Cheltenham Festival, where he has accumulated an unprecedented 74 wins as of 2025.
His most celebrated horses include:
- Istabraq, a four-time Cheltenham Festival winner.
- Barracouda, a two-time Stayers’ Hurdle champion.
- Buveur D’Air, which secured McManus’s 50th Festival victory.
- Synchronised, his sole Gold Cup winner, though the horse tragically suffered a fatal leg injury in 2012.
McManus also owns the renowned Jackdaws Castle training facility, where many of his top horses have been prepared for competition. His daughter, Sue Anne, oversees Martinstown Stud and Islanmore Stud, further solidifying the family’s equestrian legacy.
Beyond horse racing, McManus has a deep-rooted connection to football. In July 2000, he acquired 9.8 million shares in Manchester United for approximately £20 million. However, he and his business partner John Magnier later sold their shares following a contentious dispute with then-manager Sir Alex Ferguson over the ownership of the racehorse Rock of Gibraltar.
The J.P. McManus Pro-Am Golf Tournament
Established in 1990, the J.P. McManus Pro-Am Golf Tournament has become a prestigious event in the sporting calendar. Initially held at Limerick Golf Club, the tournament raised nearly €1.5 million for charity. In 2005, it moved to Adare Manor, where the fundraising efforts soared, collecting €31 million. The 2010 edition set a record, raising €43.7 million. Renowned golf professionals, including Tiger Woods and Davis Love III, have graced the tournament, cementing its reputation on the global stage.
In 2023, McManus’s long-standing contributions to the Gaelic Athletic Association (GAA) earned him the honorary lifetime presidency of the Limerick County Board.
Controversies and Tax Exile Status
McManus has lived as a tax exile in Switzerland since the 1990s, a move that has attracted scrutiny. He maintains that his relocation was motivated by business expansion rather than tax avoidance.
A significant tax-related controversy arose in 2012 when McManus won $17.4 million gambling in the United States. The IRS withheld $5.2 million in taxes, prompting McManus to seek a refund under the U.S.-Ireland double taxation treaty. However, the IRS ruled that due to his tax exile status, he was ineligible for such a refund, stirring further debate on his financial dealings.
Health and Personal Tragedies
McManus faced a personal tragedy on December 30, 2020, when his daughter-in-law, Emma McManus, passed away suddenly in Barbados at the age of 40. A coroner later ruled the death as “cocaine-associated.” As of February 2025, McManus’s son John is actively contesting the verdict.
In 2009, McManus was diagnosed with prostate cancer. Following treatment, he made a full recovery, describing the experience as life-changing.
Personal Life and Assets
McManus and his wife, Noreen, have three children and four grandchildren. He maintains friendships with several high-profile figures, including golfer Tiger Woods, jockey A.P. McCoy, and Westlife lead singer Shane Filan. He reportedly lent Filan €780,000 when the singer faced financial difficulties in 2012.
His real estate holdings include a €20 million residence in Kilmallock, featuring an artificial lake, underground parking, and a 200-seat cinema. He also owns a €150 million mansion in Barbados, a €100 million estate in Chelsea, London, and a luxury suite at the Dorchester Hotel on Park Lane.
McManus’s transportation assets include a Gulfstream G650 private jet, which was involved in an emergency landing in Shannon in 2019 due to engine failure, and an Agusta Westland AW139 helicopter, painted in his signature green and yellow colors.
Legacy and Future Endeavors
As J.P. McManus continues to solidify his legacy in horse racing, business, and philanthropy, his influence remains formidable. His investments and contributions to sports have left an indelible mark, and his financial strategies continue to shape global markets. Whether through racecourses, football clubs, or charitable foundations, McManus has demonstrated an unwavering commitment to excellence and generosity.
