Catalogue of the richest Greeks

By Bouli Hadjioannou

The Greek Cypriot community in the UK is reckoned to be among the most successful ethnic groups in economic terms, even though, like everyone else, they have not been spared the ravages of the world economic crisis.

On the contrary, according to the Greek Rich List 2009/2010, wealth generation has been hard hit in Britain’s Greek Cypriot and Greek communities.

The third Greek Rich List found that some 50 millionaires to billionaires are worth in total ₤6.81b Last year, the publication managed 100 names with a combined net worth of ₤10.98b, of whom the top 50 were worth ₤10.36b.

Taking a like-for-like comparison this ₤4.17b fall represents a near 61% drop, one of the sharpest falls in wealth ever recorded.

Yet, Greek Cypriots and Greeks continue to figure among the wealthiest in their adopted countries, be it Australia or the US. There are also sections on Cyprus and Greece, as well as a world section which has profiles from Canada, South Africa, Brazil, Bulgaria and Germany.

Production of the latest World Greek Rich List issue coincided with the global financial crisis, the worst since the Great Depression, that saw the world’s number of individual billionaires slump by a staggering 45%.

Publisher Savvas Pavlou says the magazine celebrates and documents entrepreneurial stories, to inspire young entrepreneurs, promote Greek heritage and culture.

UK

Top of the list in the UK is Alki David and the Leventis family, with an estimated wealth of ₤1.2b and business interests in live streaming internet, modeling as well as Coca-Cola.

Then there’s shipping tycoons Phlippe Niarchos (second on the list with wealth of ₤750m) and Michael Lemos (fourth on the list with ₤550m). Stelios Haji-Ioannou of budget airline easyJet and other start ups is third with ₤560m.

Cypriots have made fortunes in property – 11 of  the 50 made their wealth this way, the single biggest category. Well-known names are Chris Lazari (fifth with ₤425m), Yiannis Christodoulou, ranked 7^th, who built up a ₤280m fortune after coming to Britain as a refugee after 1974 and Andreas Panayotou (eighth with ₤250m).

Greek Cypriots are also prominent in food production and distribution, witness Dionysios Liveras (ranked ninth) - whose father was murdered during the terrorist attack at the Taj Mahal Palace in Mumbai a year ago - who built a ₤215m fortune on the cake business. Other examples are Michael and Andriania Tsiattalos, number 33, with ₤30m from their pitta bread companies.

There are only five women, among them Fotini Karamanlis , a cousin of the former Greek Prime Minister ranked 48^th with ₤12m, who is director of Hellenic Carriers.

Greece

Finance, oil, shipping and property tycoon Spiros Latsis and his family tops the list of the 30 richest in Greece with an estimated wealth of €2.6b.

Next in line are the Canellopoulos and Papalexopoulos families with €607m from cement, followed by Vardis Vardinogiannis and family with €560m from oil, shipping, media and entertainment.

Toy magnate of Jumbo, Apostolos Vakakis is ranked seventh, with €254m, while IKEA franchise holders, the Fourlis families are 15^th with €167m.

Self-made entrepreneur Socrates Kokkalis, owner of Olympiakos, came in 13^th with €197m and Aristides Alafouzos and family of Skai and Kathimerini are 27^th with €57m.

Australia

Father and son Con and Ross Makris are not only the richest Greeks down under with a combined wealth of $AU1.1b. Ross is the richest man in Australia under 40 and the 25^th richest man in world under 40. His father, a first generation migrant was the first Greek-Australian billionaire, building up a fortune on property development, including 15 shopping centres.

Other names in the Australian section include the Paspaley family (second with an $AU620m fortune built up from pearls) and Mark Bouris, host of the Apprentice Australia (ranked sixth with $AU269m from finance, banking and media).

United States

The magazine list of the 50 wealthiest Greek Americans is headed by the Haseotes family and their estimated $3.2b food, petroleum products and convenience store empire that started off with the purchase of a one-cow dairy farm in Rhode Island in 1938.

Another billionaire is George P Mitchell, son of a Greek immigrant goatherd. Chairman of GPM Inc, he is ranked 158^th among Forbes richest Americans with an estimated $2b.

Also listed in Forbes are Peter G Peterson ($2b) former secretary of commerce under Nixon, Michael Jaharis ($1.8b), chairman of KOS Pharmaceuticals and John Catsimades ($1.5b), chairman and CEO of the Red Apple group that has interests in oil, real estate and supermarkets.

Then there’s Alex Spanos ($1.1b) who owns the National Football league’s San Diego Chargers, Ted L Leonsis ($700m), vice chairman emeritus of America On Line and Peter G Angelos ($425m) a trial lawyer and chairman of Major League Baseball’s Baltimore Orioles. Another millionaire with a sporting interest is Peter Karamanos Jr ($340m) who is owner of the National Hockey League’s Carolina Hurricanes and CEO of Computerware Corporation.

There’s a female presence in Evangeline Gouletas ($125m), who is CEO of a Chicago-based real estate firm, Rita Wilson ($200m) wife of Tom Hanks and a successful actress and producer whose father was a Pomak, born in Greece and whose mother was born and raised in a Greek village on the Albanian border.

Heartthrob Jennifer Aniston ($160m) once lived in Crete and Athens and is the daughter of John Anastassakis, himself a TV star.

Cyprus

The wealthiest man in Cyprus is actually Norwegian – John Fredriksen who chose to take up Cypriot nationality. Owner of the world’s largest oil tanker fleet, his wealth is estimated at €2.7b.

The Cyprus section lists the following all-too-familiar names:

1.                Efthyvoulos Paraskevaides (€450m) Construction, energy and other investments

2.                Platon, Marios and Costas Lanitis (€400m) leisure, hotels and construction

3.                Elena Ambrosiadou (€216m) hedge funds

4.                Nicos K Shacolas (€208m) retail, airports, and property

5.                Andreas Pittas (€100m) pharmaceuticals

6.                Andreas Kaissis (€90m) real estate, entrepreneur

7.                Michalakis Leptos & Sons (€64m) hotels and real estate

8.                Demos, Christos and Glafcos Mouskis (€55m) manufacturing and hotels

9.                Costakis Loizou (€52m) cruise ships, hotels and travel

10.Ermis, Sotos and Stephanos Stephanou (€48m) Manufacturing and hotels

The rest of the world

The Greek diaspora numbers many other wealthy people, not least Athena Onassis Roussel, sole heir to the Onassis fortune,  South Africa mining entrepreneur Loucas Pouroulis, Canada’s Mike Lazarides, co-founder of RIM that created and manufactures Blackberry and Bulgaria-based Greek Cypriot George Spyrou.  

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The 116-page Greek Rich List Magazine features, interviews and profiles from all over the world.

The first issue was published in 2007 and profiled Britain’s Top 50 Greek Millionaires. In 2008 it increased its profiles to 100. Now, on its third edition, the magazine includes profiles from the UK, Greece, Australia, USA, Cyprus, Brazil, Bulgaria, Germany, South Africa, Canada & New Zealand.

The magazines are available on the website www.greekrichlist.com and selected outlets in the UK, Greece, Cyprus, US and Australia