THE NATIONAL HERALD • MARCH 2, 2013 50 Wealthiest GREEKS IN AMERICA
The National Herald
www.thenationalherald.com www.ekirikas.com 2 50 Wealthiest Greek Americans THE NATIONAL HERALD, MARCH 2, 2013
The National Herald Behrakis Brings Greece and Harvard A weekly publication of the NATIONAL HERALD, INC. (ΕΘΝΙΚΟΣ ΚΗΡΥΞ), reporting the news and addressing the issues of paramount interest to the Together to Save Lives Greek American community of the United States of America. Publisher-Editor Antonis H. Diamataris Fellowship Sponsors Assistant to Publisher, Advertising Veta H. Diamataris Papadopoulos Greek Cardiologists Special Section Editor Sophia Stratakis Huling for Cutting-Edge Production Manager Chrysoula Karametros Research in the U.S.
37-10 30th Street, LIC, NY 11101-2614 Tel: (718)784-5255, Fax: (718)472-0510, By Sophia Stratakis Huling e-mail: [email protected] TNH Staff Writer Democritou 1 and Academias Sts, Athens, 10671, Greece Tel: 011.30.210.3614.598, Fax: 011.30.210.3643.776, e-mail: Heart disease causes more [email protected] deaths in all the industrialized world than any other illness. Subscriptions by mail : 1 year $66.00, 6 months $33.00, 3 months $22.00, 1 month $11.00 Doctors commonly point out the Home delivery NY, NJ, CT: 1 year $88.00, 6 months $48.00, 3 months $33.00, 1 month high-risk factors: smoking, high $14.00 Home delivery New England States : blood sugar, alcohol abuse, high 1 year $109.00, 6 months $57.00, 3 months $41.00, 1 month $18.00 blood pressure, high cholesterol, On line subscription : Subscribers to the print edition: 1 year $34.95, 6 months $23.95, 3 months $14.95; Non subscribers : 1 year $45.95, 6 months $29.95, 3 months $18.95 and neglect of heart health. On the surface, it appears control - lable by lifestyle changes and regular checkups. But then there are the shock - ing cases of people who, on the 50 Wealthiest Greek Americans surface, have no such risk fac - tors but are killed by sudden, How does one measure success? It’s different for each per - massive heart attacks that seem son. Nevertheless, the best human minds strive to find solutions to come out of nowhere. When where there are problems, to explore new approaches to the these happen, most people sim - same old obstacles – or, in the words of Alfred Lord Tennyson ply shake their heads and con - in his poem “Ulysses,” referring to the Roman interpretation of clude there are some deaths that the great Greek hero Odysseus, “To strive, to seek, to find, and simply attack with swift, ran - not to yield.” dom cruelty. In this, our 2013 issue dedicated to the Massachusetts native George The George D. Behrakis Cardioresearch Fellows in the lab at Brigham Women’s hospital in 50 Wealthiest Greek-Americans, we high - Behrakis, the son of Greek im - Boston. From left: Michail Papafaklis (seated), Dr Peter Stone, research leader (standing), An - light those in our community who have migrants who built an im - tonios Antoniadis (seated), Yiannis Chatzizisis (standing). reached the heights of business success. mensely successful pharmaceu - They cover a wide spectrum of industries: tical career and has donated coronary research. Stone’s work cardiology research to come to while they are in the U.S., which energy, retail, finance, shipping, food ser - much of his wealth to medical focuses on examining the details Boston and work with Stone for comes to about $140,000 per vice, engineering, publishing, entertain - causes, knew there was more to of blood flow within the coro - two years, then return to Greece year per fellow. ment – to name a few. The newest it than that. And he believed he nary arteries and the presence where they can put what they “The condition is that they name on our list, John Paul DeJoria, could make a contribution. of plaque, which clogs the walls learned into practice. So far, the go back, because I don’t want is the wealthiest American of Greek descent “Being in the healthcare mar - of the arteries, and figuring out George D. Behrakis Cardiovas - the brain drain from there,” and the only one to have made his fortune ket, I knew that the grant fund - how to detect this while the per - cular Research Fellowship has Behrakis said. in the beauty industry with hair care prod - ing was slowly diminishing, at son is still alive, to prevent mas - sponsored four Greek cardiolo - And Stone confirms that ucts and later, with tequila. These people a very accelerated rate, and I sive heart attacks from occur - gists: Yiannis Chatzizisis, 36, there is indeed immense scien - have enriched themselves, but in so doing, felt that the private sector ring. Kostas Koskinas (who has re - tific brainpower in Greece. also enriched their communities by pro - needed to come forward and “My parents came here from turned to Greece), Antonios An - Chatzizisis, Antoniadis, and Pa - viding jobs, business opportunities and buy - fund some of the research,” he Greece; I have a lot of relatives toniadis, 36, (all from the Aris - pafaklis all told TNH they look ing power to others. In that spirit, we attempt to list the number said in a video he filmed re - in Greece who are physicians. totle University Medical School forward to dividing their time of employees for each individual, to show the free enterprise cently for the development of - Peter Stone brought up the fact of Thessaloniki under the men - among research, teaching, and system at work. fice of Brigham & Women’s Hos - that he wanted some Greek torship of cardiologist George working directly with patients We at TNH also believe that of those to whom much is pital in Boston, one of the physicians to come here, to train D. Giannoglou), and Michael when they return. given, much is expected. The most successful among us are teaching hospitals affiliated with them in research in the cardiol - Papafaklis, 35 (from the Univer - “It’s an incredible opportu - also the most willing to use their wealth to make a better world Harvard Medical School. “I ogy lab,” Behrakis said. “I’ve sity of Ioannina, who worked nity that he has provided to by freely giving out of compassion for those less fortunate. The picked Brigham & Women’s be - been in the pharmaceutical busi - with Dr. Lambros Michalis). these young scientists,” said wisest of them know “there, but for the grace of God, go I.” cause I’ve known these people ness for many years, and I’m a They were chosen based on Stone, who described his Greek (Note that the numbers listed are not always drawn from for 25, 30 years,” as part of his firm believer that the Greeks in their mentors’ recommendation researchers as having “mind- the individuals themselves, but estimated figures, mostly drawn long pharmaceutical career. America that have been success - and upon review of the research boggling productivity. It’s been from public sources. We use the same ranking method as Forbes; After spending some time on ful should do something for and publications they had pre - a wonderful collaboration; the i.e., rather than listing them 1 through 50, we rank them ac - the advisory board of the Har - Greece, for our parents and viously done. Greek fellows have been ex - cording to their estimated wealth. That is why, for example, vard School of Public Health, he grandparents’ home.” Stone said Behrakis’ contri - tremely talented and have a you will find that the three people on our list each worth $40 met Brigham & Women's cardi - For the past five years, butions cover the fellows’ very intense background in the million, are all ranked as 35th.) ologist Peter H. Stone, who has Behrakis has been sponsoring salaries, travel, academic and devoted the last 25 years to young Greek doctors trained in professional research expenses Continued on page 4 THE NATIONAL HERALD, MARCH 2, 2013 50 Wealthiest Greek Americans 3 4 50 Wealthiest Greek Americans THE NATIONAL HERALD, MARCH 2, 2013 Metropoulos approved as lead bidder for Hostess Behrakis Brings Greece By Dawn McCarty Bloomberg News and Sophia Stratakis Huling, and Harvard TNH Staff Together C. Dean Metropoulos & Co. won court approval on Feb 13 to be the among the stalking- Continued from page 2 horse, or lead, bidders for most of Hostess’s cake and bread things we do. The work they do brands, setting the thresholds under the sponsorship of Mr. other suitors will have to ex - Behrakis has been published in ceed. the most prestigious journals in U.S. Bankruptcy Judge the world as the first author.” Robert Drain in White Plains, Stone learned that sudden N.Y. approved Metropoulos heart attacks like those that fa - along with Flower Foods Inc., mously killed television journal - McKee Foods Corp., United ist Tim Russert actually do not States Bakery Inc., Apollo occur randomly, but in specific Global Management LLC. A sale areas of the coronary arteries hearing to approve the highest which develop atherosclerosis, and best bids is set for March or hardening of the arteries, 19. with the build-up of plaque de - Apollo and Metropoulos of - posits. Doctors can find those fered as much as $410 million deposits if they are blocking the for the Hostess snack-cake busi - blood flow inside the arteries by ness, which includes Dolly a procedure called an an - Madison brands, five bakeries giogram. The angiogram exam - and equipment. Leon Black’s ines the inside of the artery Apollo, based in New York, man - where the blood is flowing, and aged $109.7 billion in assets as TNH ARCHIVES can find any obstructions. In of Sept. 30. C. Dean Metropoulos (standing), is chairman and CEO of many cases, however, the de - Metropoulos, based in Metropoulos & Co., which was recently approved as the lead posits are inside the artery Greenwich, Connecticut, is the bidder for the cakes business of bankrupt Twinkies maker walls, where the atherosclerosis private-equity firm that owns Hostess Brands Inc. that builds is most dangerous Pabst Brewing Co. The company because it is invisible. has built a reputation in busi - lead bid for Hostess’s Wonder, union retirees already receiving Stone used the image of a ness circles for turning around Butternut, Home Pride, Merita benefits through May 31. donut hole to illustrate the failing consumer brands, includ - and Nature’s Pride brands, 20 artery. Blood flows through the ing Pabst and Premier Foods, bread plants, 38 depots and rETIrEE ClAIMS hole, while the solid part of the the U.K.’s largest food company. other assets. The union retirees, collec - donut, surrounding the hole, is In January, Daren Metropou - Flowers offered $360 mil - tively, will have a pre-bank - the artery wall. los, a principal at C. Dean lion, plus $30 million for the ruptcy unsecured claim against “If that plaque becomes Metropoulos & Co. and son of Beefsteak brand. An auction is the bankruptcy estate in the highly inflamed, which it typi - Dean Metropoulos, was quoted set for Feb. 28. amount of $7.4 million, accord - cally does -- it’s like a pimple, in Bloomberg as saying, “It Flowers, established in 1919, ing to court papers filed today. quite literally,” Stone said. “If would be a tremendous oppor - produces and markets packaged That claim will be divided that pimple in the artery wall tunity to resurrect these leg - baked goods for retail and food- among the unions. A hearing pops, a blood clot forms in an endary brands and bring them service customers. The com - was held on Feb. 21 to approve instant, and you die with a mas - back to the consumer.” pany’s top brands are Nature’s the accord. sive heart attack. And you can’t Hostess, founded in 1930, is Own and Tastykake. The Interstate Brands Corp.- see it often until it ruptures and liquidating after failing to reach McKee, maker of Little Deb - International Brotherhood of causes a blood clot and it kills an agreement with striking bak - bie snacks, agreed to pay $27.5 Teamsters National Negotiating you.” ers on concessions to help the million for Drake’s. United Committee will have a claim of Stone said half of the people company emerge from its sec - States Bakery offered to buy the $1.8 million; the Bakery, Con - lIFE INSurANCE ceive medical benefits and about with coronary artery atheroscle - ond bankruptcy. Initial bids for Sweetheart, Eddy’s, Standish fectionery, Tobacco Workers and In a separate accord with the 1,104 receive post-retirement rosis are not even aware they assets total about $858 million Farms and Grandma Emilie’s Grain Millers International official committee of retired em - life insurance, according to court have it until they have a heart with about $100 million more bread brands, four bakeries and Union will have a claim of ployees, Hostess will continue to documents. attack; and half of those people for sale, Chief Executive Officer 14 depots, plus certain equip - $50,680; the International provide life insurance benefits Previously known as Inter - die on the spot and never even Greg Rayburn said Jan. 31. ment, for $28.9 million. A Union, United Automobile, to the same retirees currently re - state Bakeries Corp., Hostess left make it to the hospital. That was A spokeswoman for March 15 auction date for Aerospace and Agricultural Im - ceiving life insurance benefits an earlier bankruptcy in 2009 precisely what happened to Metropoulos told TNH the com - Drake’s and the four bread plement Workers of America through the end of this month. under the control of buyout firm Russert and continues to happen pany is “still going thorough” brands has been set. UAW will have a claim of $5.4 Hostess will also provide retiree Ripplewood Holdings LLC and to millions of others around the the bidding process, and that Heather Lennox, a lawyer for million; and the United Steel, medical benefits through the lenders. The company, based in world. Metropoulos is not giving any Hostess, told Drain that an Paper and Forestry, Rubber, end of May. Irving, Texas, entered bank - “Russert was known to have interviews about the matter. agreement on retiree benefits Manufacturing, Energy, Allied The retirees, collectively, will ruptcy again in January 2012. coronary disease; it was thought was reached with four unions Industrial and Service Workers have a pre-bankruptcy unse - The case is In re Hostess to be under control, but it was HOME PrIDE covering 233 former employees. International Union will have a cured claim in the amount of Brands Inc., 12-22052, U.S. not under control,” said Stone. Flowers, based in Hostess will continue to provide claim of $102,409, according to $10.5 million, according to court Bankruptcy Court, Southern Dis - Thomasville, Georgia, made the retiree benefits to the same court papers. papers. About 244 retirees re - trict of New York (White Plains). Continued on page 8 THE NATIONAL HERALD, MARCH 2, 2013 50 Wealthiest Greek Americans 5
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JOHN PAUL million. Dolphin Award from The Malibu Ari Haseotes and his wife Ashley primarily in western Pennsylva - 1. DEJORIA In 1989, after his partner Times. John Paul was also hon - also founded the One Mission nia and Western New York. His $4 BIllION HAIr CArE Paul Mitchell died, DeJoria ored with the Sustainability (www.onemission.org) child - most recent projects include sev - PrODuCTS, SPIrITS found another partner and Award for his dedication to en - hood cancer foundation. eral residential development Born the son of an Italian im - launched Patron, a premium vironmental preservation at www.cumberlandfarms.com projects in Brooklyn, and invest - migrant father and a Greek im - tequila, something unheard-of Fashion Group International’s ing in health-related companies. migrant mother who divorced at that time. His friend Clint 25th annual Night of Stars JOHN A. Catsimatidis is a licensed pi - by the time he was 2, DeJoria, Eastwood put it in his film “In event, and was inducted as a 3. CATSIMATIDIS lot, though eye surgery has 69, has known poverty repeat - the Line of Fire,” celebrity chef lifetime member into the Hora - $3 BIllION OIl, rEAl grounded him over the past few edly: first during his childhood Wolfgang Puck endorsed it, and tio Alger Association of Distin - ESTATE, SuPErMArKETS years. He has helped raise mil - being raised by a single mother DeJoria gave it away at Paul guished Americans in honor of Ranked 132nd among the lions for Alzheimer’s, Parkin - in Los Angeles, and two periods Mitchell events. Today Patron his journey to overcome humble Forbes 400, John Catsimatidis, son’s, and Juvenile Diabetes re - of homelessness as an adult. To - Spirits sells the world’s ultra-pre - beginnings to achieve success. 64, is chairman & CEO of the search. He served as day, Forbes counts him 92nd on mium tequila, with more than 2 He and his third wife, the for - Red Apple Group. Ranked 97th co-chairman and founder of the its 400 Richest Americans, 276th million cases sold in 2011, as mer Eloise Brady, are based in among the country’s largest pri - Brooklyn Tech Endowment among the World’s Billionaires, well as rum and vodka. Austin, Texas. He has four chil - vately held companies by Forbes, Foundation. The $10 million and one of America’s Richest Liv - DeJoria has been quoted say - dren. with 8,000 employees and esti - fund is the largest gift to a sec - ing Veterans. His John Paul ing the key to success it to be www.paulmitchell.com, mated annual revenues of $4 bil - ondary school in the United Mitchell hair products and Pa - prepared for rejection. As a life - www.cnn.com, www.entrepre - Farms, Exxon, and Gulf names. lion, Red Apple has holdings in States. Since 1988 he has tron Spirits are each worth at long salesman, he has faced neur.com Its Gulf Oil arm sells gasoline to oil refining, retail petroleum funded scholarships at the NYU least $1 billion. Paul Mitchell more than his share. Remember - franchised service stations. The products, convenience stores, su - School of Business. He is also products are available in more ing his three-year stint selling HASEOTES company first added a gas sta - permarkets and real estate. With the publisher of the Hellenic than 100,000 salons in the U.S. Collier’s Encyclopedias door-to- 2. FAMILY tion to one of its stores in 1971 a major focus on energy, Catsi - Times. He is married and the fa - door, he said, “Doors literally $3.8 BIllION DAIrY, and expanded greatly in the matidis’ fortune accelerated with ther of two children. His wife slam in your face – maybe 30, CONVENIENCE STOrES, wake of the 1973-74 Arab oil rising oil prices. Margo runs his company’s in- 40 doors before the first cus - PETrOlEuM PrODuCTS embargo. By 1975 Cumberland house advertising agency. Their tomer will actually talk to you.” Vasilios and Aphrodite Farms opened its 1,000th store. Hellenic Times Scholarship But, he advised would-be entre - Haseotes emigrated from The following year, it opened a Fund, which has awarded hun - preneurs, no matter how many Greece’s Macedonia and Epirus 560,000-square-foot bakery and dreds of thousands in scholar - rejections you get, go to the next regions to the U.S., buying a warehouse in Westborough, ships to Greek American stu - door with the same enthusiasm one-cow dairy farm in Cumber - Mass, and purchased more than dents, celebrated its 20th as you had at the first, with a land, R.I. for $84 in 1938. Cum - 500 Gulf and Chevron service Anniversary last May. Catsima - smile on your face. berland Farms (incorporated in stations and related assets in 11 tidis, who first considered run - He has also been quoted 1957) eventually grew to be - Northeastern states. The trans - ning for mayor of New York in telling a story that when he was come the largest dairy farm op - action included contracts to sup - 2009, officially announced his 5, his mother didn’t have enough eration in Massachusetts. In ply gasoline to about 1,700 Gulf candidacy in January 2013. “I money to buy her sons Christ - 1956, the company opened a dealers and 2,000 stations, mak - care about making New York mas presents. As they walked jug-milk store in Bellingham, ing Cumberland Farms the better,” he said at his candidacy through downtown Los Angeles, Mass. Few convenience food largest independent seller of announcement, and for people his mother pointed to a woman stores offering dawn-to- mid - gasoline in America. In 2010, to say when he was done: “You wearing a navy blue suit ringing night service every day of the Gulf Oil L.P., a subsidiary of know something, you did a great a bell. “Boys,” his mother said, week existed in the North in the Cumberland Farms, announced job.” He was among the leading His first job, at 9 years old, “I’m giving you a dime. See that 1950’s. it had acquired all rights, title Greek-Americans actively in - was selling greeting cards door- lady ringing the bell? Put this in But by 1967, there were and interest to the “Gulf” brand volved in Republican fundraising to-door. He and his brother had her bucket.” DeJoria didn’t un - some 8,000. With some 400 in the U.S. In 2012, Cumberland His parents came to America for the 2012 presidential race. paper routes through their derstand; 10 cents was a lot for stores, Cumberland Farms was Gulf Group announced that it is with him from the island of Nisy - school years. After high school a kid who didn’t have much in among the industry leaders. By entering the electricity business ros while he was a child. He GEORGE P. and two years in the U.S. Navy, 1950. Why did he have to give the early 1990’s, Cumberland in Connecticut. grew up in New York City on 4. MITCHELL DeJoria did whatever it took to it away? “That’s the Salvation Farms ranked third among the At one point Cumberland Manhattan’s west side. He at - $2 BIllION (ENErGY, rEAl make ends meet—from selling Army. They need it more than country’s convenience store Farms had 1,200 stores, about tended New York University, but ESTATE) encyclopedias and working as a we do,” was her reply. From that chains, and was also a leader in half of which were selling gas. dropped out before completing Ranked 239th among Forbes’ janitor to pumping gasoline. experience, he learned that “suc - both the retail and wholesale Now a company of over 1,000 his degree requirements because “400 Richest Americans” and During his first homeless period, cess unshared is failure.” distribution of petroleum prod - retail stores and stations and of business demands. He opened 578th among Forbes’ “World's after he and his then-wife sepa - The vast list of charities sup - ucts. 6,500 employees, Forbes ranked his first grocery store in 1969, Billionaires”, Mr. Mitchell is rated, he collected bottles to stay ported by John Paul Mitchell A closely held family-owned Cumberland Farms the 30th and owned ten stores by the age chairman of GPM Inc., and is afloat, all while caring for his 2- Systems includes the Boys & company since its inception, largest privately held company of 24, making $25 million a year now 93 years of age. year-old son. Eventually, he took Girls Clubs of America, the Cumberland Farms has since in the U.S. in 2012 (up from in revenue. He plowed $5 mil - The son of a Greek immigrant his talents to several hair care American Cancer Society, grown to become a multi-billion- 37th the previous year). Bentas lion into Manhattan real estate goatherd, he grew up in Galve - and cosmetic companies before Food4Africa, Grow Appalachia, dollar corporation. Lily told TNH their annual sales are in 1977; that property was ston, Texas – in the same build - becoming an independent con - and Chrysalis, a nonprofit group (Haseotes) Bentas, daughter of now at $15 billion. worth $100 million just five ing where his father’s dry clean - sultant. In 1980, he teamed up that helps homeless and low-in - Vasilios and Aphrodite Haseotes, Bentas added the company years later. ing shop was located. A 1940 with his friend Paul Mitchell to come people get back on their is chairman of the board of di - continues to grow and improve. Today, Red Apple reportedly graduate of Texas A&M Univer - launch John Paul Mitchell Sys - feet and find the path to self- rectors. Her nephew, Ari “The company is continuing to owns $500 million worth of sity with a degree in petroleum tems, a line of high-end hair care sufficiency. DeJoria is also a pa - Haseotes, is the president. upgrade its locations and offer property and the Gristedes su - engineering, he served in the products. The partners began tron of Mineseeker, a non-profit Company headquarters are in more prepared foods. We are permarket chain. He stumbled U.S. Army Corps of Engineers with $700, DeJoria living in his organization dedicated to seek - Framingham, Mass. Cumberland constantly updating our sites.” upon the Chapter 11 proceed - during World War II before car at the time. He said he ing solutions to the worldwide Farms owns and operates con - Cumberland Farms has given ings of United Refining in War - founding Roxoil Drilling, which knocked on salon doors until he problem of landmines. In 2006, venience stores and gas stations millions in cash and products to ren, Pa. and purchased the oil eventually became Mitchell En - got 12 orders and checks. After he was appointed Admiral by throughout New England, New benefit young people, from its refiner’s stock for $7.5 million. ergy & Development Corp, with two years of hand-to-mouth the governor of Texas, and he York, the Mid-Atlantic States and Believe and Achieve Scholarship Today, the firm owns 375 gas work, the company grossed $1 received the Citizen of the Year Florida under the Cumberland program to hunger relief efforts. outlets and convenience stores, Continued on page 8 THE NATIONAL HERALD, MARCH 2, 2013 50 Wealthiest Greek Americans 7