The50 Wealthiest Greeks in America The National Herald’s 11th Annual Survey of the 50 Wealthiest Greek Americans

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March 14, 2009 www.thenationalherald.com 2 Wealthiest Greek Americans 2009 THE NATIONAL HERALD, MARCH 14, 2009

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Contact: Patient Care Coordinator Dept. Elmhurst Hospital Center (718) 334 6642 THE NATIONAL HERALD, MARCH 14, 2009 Wealthiest Greek Americans 2009 3 4 Wealthiest Greek Americans 2009 THE NATIONAL HERALD, MARCH 14, 2009 George Phydias Mitchell Struck it Rich Wildcatting for Gas & Oil

By Evan C. Lambrou Houston in 1905. He had a cousin from Hurricane Ike this past Sep- troleum industry, I naturally want- Special to The National Herald there who was also from Nastani tember, when needed. ed to pursue that interest. So I had who was operating a small dry During his interview with the to switch universities because Rice NEW YORK – At 89 years of age, cleaning shop and shoeshine parlor Herald, Mr. Mitchell lamented the didn’t have a petroleum engineer- arguably the single wealthiest across the street from the Rice Ho- dwindling of the Greek American ing program. I had to go to a uni- Greek American, who made his for- tel, and my father joined him,” Mr. community in Texas. versity that did, so I went to Texas tune in the petroleum industry, has Mitchell said. “The churches still do pretty A&M to study geology and engi- lived through the Great Depres- The Rice Hotel was a very popu- well, all things considered. Young neering,” he said. sion, and is deeply concerned about lar and upscale establishment, he Greeks, however – it’s unfortunate, “Johnny graduated from A&M the recent economic crisis and the said, so his father and the cousin but they leave. So Greeks can have in 1934, long before I went there. world’s depleting natural re- came into frequent contact with a tough time supporting the He left Exxon, and went on his own sources. “big-time players” like Jesse Jones churches,” he said. with a group of investors, who George Phydias Mitchell was (1874-1956) – the famous Houston Mr. Mitchell recently gave a spent some money to try and get ranked 128th among FORBES 400 politician and entrepreneur who al- $10,000 donation to the Greek Or- production on some oil wells. He richest Americans this past Septem- so served as U.S. Secretary of Com- thodox Archdiocese of America, he started drilling wells in these little ber, just before the economic melt- merce (1940-45) and headed the said, but wasn’t sure if he would fields. So while I was a student at down hit, with an estimated net Reconstruction Finance Corpora- continue giving to the Archdiocese A&M, my brother was out on the worth of $3.2 billion. Among the tion (1932-45), the federal agency on a regular or sustained basis. He field trying to make money,” he world’s billionaires, FORBES which played a major role in com- prefers to keep his philanthropy lo- added. ranked him 349th last year (this bating the Great Depression and fi- cal. As a student at A&M, Mr. year’s list had not yet been generat- nancing industrial expansion in “I have so many commitments Mitchell operated a laundry con- ed at press time). World War II – “the movers and between the Greek churches and cession and sold stationery to help Mr. Mitchell is the son of Greek shakers of Houston.” the Episcopalians here, and what pay his way through school. He immigrants who came to the Unit- Then Savas moved to Galveston, I’m doing with the medical centers, earned a degree in petroleum engi- ed States from the Peloponnese at where he opened his own pressing I’ve got to watch out,” he said. neering, with an emphasis on geol- the turn of the 20th Century. He shop. Mr. Mitchell is now an Episco- ogy. He was also in the university’s and his wife Cynthia have ten chil- “Many respected Galvestonians palian. “I was Orthodox, and my Reserved Officers Training Corps dren, seven sons and three daugh- new him quite well and liked him wife was Catholic, so we compro- (ROTC) program. After he graduat- ters; 26 grandchildren; and two very much, even though he was not mised and became Episcopalians,” ed, he went to Louisiana to work great grandchildren. They reside in educated and had very little money. he said chuckling. “We were pretty for Amoco, but was soon called to The Woodlands, Texas – an award- He was so well thought of, that the active at Saint Francis Episcopal fulfill his military obligation with winning planned community 27 doctors, lawyers and other profes- Church, where we were members the U.S. Army Corps of Engineers. miles north of Houston which Mr. sionals and business people helped for many years. We’d go to the “A&M enjoyed the recognition Mitchell founded himself – and are him out. He had a lot of friends,” Greek Church for vacations (Christ- of being the largest university to of- considered among Houston’s lead- Mr. Mitchell said. mas and Easter), but my wife and I fer reserve officers training for the ing citizens. In matters of love, it turns out, took our kids to the Episcopal Army. When I got out after my se- In a rare interview, Mr. Mitchell Savas was quite a determined man. church most of the time.” nior year, the Army offered me a spoke to the National Herald about Mr. Mitchell’s mother, Katina Mrs. Mitchell suffers from permanent position. But I knew I his family history; growing up Eleftheriou, immigrated to this Alzheimer’s Disease. “It’s a very wanted to be in the oil and gas in- Greek in America; his path to suc- country after his father did. She tough disease. We haven’t found dustry. That’s what I spent four cess; philanthropy; and his views emigrated from Argos around any solutions, but we keep looking. years studying to do, so I didn’t about the economy, energy, the en- 1907-08, settling in Tarpon There’s no magic bullet, but there’s want an Army career,” he said. vironment and historical preserva- Springs, Florida. Savas saw a pic- a report every six months about “I wanted to get a job in the oil tion. ture of her in a Greek newspaper what’s going on around the world fields, and Amoco hired me to go HIS IMMIGRANT ROOTS circulating there; liked what he COURTESY OF THE WOODLABDS DEVELOPMENT COMPANY with the research,” Mr. Mitchell down to Southern Louisiana, so af- His father, Savas Paraskevopou- saw; and decided he needed to go George P. Mitchell next to a bronze statue of himself at The Wood- said, noting that he has given tens ter I graduated in June of 1940, I los, emigrated from Nastani, a to Florida to meet her. When he got lands, Texas, an eco-friendly planned town he founded in 1974. of millions to Baylor University & went down to Louisiana. But as a small village about 30 miles north to Florida, Savas not only won Kati- Methodist Hospital, The University reserve officer, I knew it was only a of Tripolis. Mr. Mitchell, who was na’s heart, he persuaded her to 91, but his mother died when together, with a Serbian priest – be- of Texas Medical Branch in Galve- matter of time before they would born in Galveston back in 1919, choose him over another fellow. young George was only 13 years fore the Greeks got enough money ston (UTMD-Galveston), UT put me in the service. The Army first visited his father’s native home “There was an article in the old. to start their own church and get Health Science Center in Houston, called me a year and a half later. when he was in his forties. Greek paper about this Greek beau- Asked for his earliest recollec- their own priest. I remember walk- and M.D. Anderson Cancer Center The Corps of Engineers brought me “It’s a beautiful little village up ty that came from Greece, so he cut tions growing up as a Greek Ameri- ing around that church about ten for Alzheimer’s and cancer re- out from my work in the oil fields in the mountains,” Mr. Mitchell her picture out of that paper, and can in Galveston, Mr. Mitchell said times at Easter when I was about search. for a time,” he said. said in his low, quick yet very carried it with him in his wallet for Galveston’s Greek community was ten years old before the Greek HOW IT ALL STARTED “I had three or four superiors in friendly manner of speaking. “My six months while he tried to figure well-liked and well-respected. He church was built at its current loca- Mr. Mitchell grew up in an im- the Corps of Engineers, and we father took a ship from a little town out a way to get to Florida. He fi- also said he remembered his moth- tion. I never understood why we migrant neighborhood in Galve- were busy at that time working on called Kalmara in 1901, which nally went there and found her. He er was very active in it, and noted had to do that so many times,” he ston known as the “League of Na- major projects in Houston because made its way to Ellis Island.” convinced her not to marry another that his father was a well known lo- said chuckling. tions,” and lived in the same build- of the Second World War. We had Savas, who was a goatherd in suitor her sister had all lined up for cal businessman. “But the Greek community was ing which housed his father’s dry between two and three thousand Greece, eventually made his way to her, and persuaded her to come to “The Greek community in a strong community. We had a good cleaning shop. He attended both people working on one 2,000-acre Galveston, but first went to Galveston and marry him,” Mr. Galveston was a very, very fine name and a good reputation as grammar school and high school in project, and only three army offi- Arkansas, and then to Utah, to Mitchell said. community, just as it is all across honest, hardworking people. And Galveston. He had a natural affinity cers running that. Then we had a work on the railroads. It was while Savas and Katina had three the country. There were a number as time went on over the years, for math and science from a young big gun plant making anti-aircraft he was working on the railroads in sons, Christie, Johnny and George, of Greek people living there back Greek people were very well age, and graduated high school weapons to worry about. So I Arkansas that his name was and one daughter, Maria. Mr. then. My father was very well thought of in Galveston,” he added. with honors. He initially consid- worked for three or four years at changed. The timekeeper, the per- Mitchell’s oldest brother died 29 known as an entrepreneur. My Mr. Mitchell still considers him- ered going to medical school, be- those locations. At the tail end of son who was in charge of the pay- years ago; his brother Johnny, with mother was very active in it. She self active with the Greek American roll, told him he was going to whom he entered into the oil busi- was very highly-regarded as a good community in Texas. He said he “make things easy” by giving Savas ness, passed away 13 years ago; person who helped the community supports the Annunciation Cathe- a new name, Mike Mitchell, which and his sister married a physician, a lot,” he said. dral in Houston and its annual fes- was also the timekeeper’s name. and still lives in Houston. “The community was mixed at tival. He also said he helps the As- “He worked on the railroads for Mr. Mitchell’s father passed first. There was a Serbian and sumption Church in Galveston, four years, and then he went to away in 1980 at the ripe old age of Greek Church – Greeks and Serbs which sustained extensive damage

COURTESY OF THE HOUSTON CHRONICLE Sheridan Mitchell-Lorenz, right, admires a bronze sculpture of her fa- ther, George P. Mitchell, unveiled at The Woodlands in Nov. 2007. ISEMAN EVINE EHRHAUPT & AKOYIANNIS, P.C. fore wildcatting for oil and natural those very big projects, I was work- E L L K gas got into his blood. ing with a district engineering “Galveston had a very good high group in Galveston, where we de- school at that time, so I was able to signed all the airfields for the Army get a good education. I was very and the Navy in Texas, Louisiana good at mathematics. There was a and New Mexico,” he said. great professor at Ball High, and I “So I had tremendous experi- took all the advanced math classes ence working stateside with the 805 Third Avenue - 10th Floor they had. My mother wanted me to Corps of Engineers during the War, be a doctor, so I applied to Rice In- while Johnny, who was also a re- New York, New York 10022 stitute – which eventually became serve officer, was fighting in Pat- Rice University, and which was very ton’s army overseas. He was a cap- difficult to get into – and they ac- tain in the field artillery, and he (212) 752-1000 cepted me. But I was only 16 then, went through hell. He was in all of and my father thought I was too Patton’s assaults. Patton had 30 di- young to go off to college. He want- visions under him. The main divi- ed me stay in high school one more sion only had 25,000 people in it, year, so I had to go back and do an- but they had 23,000 casualties in- other year of additional studies be- side two and a half years of war. fore I could start college. By the Now that’s a terrible thing,” he time I finished high school, I ended said. up taking three years of Latin, “I didn’t go overseas. I made a which was required for the pre- couple of requests – one was to go med program,” he said. to Burma, and the other was to go The summer before he was to to France – but my colonel who was start his freshman year at Rice, he responsible for my activities in decided he needed to earn some ex- Houston said, ‘No. I can’t let you tra money, and joined his brother go. You’ve got too big a job going Johnny in the oil fields. That’s right now.’ So the fact that I was do- when he got his first taste of the en- ing a good job for him kept me in ergy industry, which sparked his in- Houston and prevented me from terest in the field of petroleum en- going overseas,” he added. gineering. AFTER THE WAR “That summer, I worked in the After the War, Mr. Mitchell re- oil fields with my brother Johnny, joined his brother Johnny in Hous- who was ten years my senior. John- ton. The Mitchell brothers teamed ny was a chemical engineer with up with a group of investors they Attorneys specializing in Exxon, and then he went out on his called the “Big Nine,” and started own to work the oil wells in putting deals together. He and his Louisiana, and make judgments on brother would go out and survey those wells. So I worked with my the land late at night; search for oil Complex Commercial Litigation brother that summer, and I decided and gas reserves; and, if they found I wanted to be a petroleum engi- any, give the investors the larger Sophisticated Real Estate neer,” he said. portion of the profits and then take “I started out as a field hand in their own 1/32nd share of the cut. the summertime with him, doing “Johnny got out of the service a and Lender Transactions anything. I was a roustabout. That’s few months before they let me out. what they called us in those days. I He got back together with his old Corporate and Securities was on the field. I didn’t do any group and started working on pro- drilling. If you work on a rig, that’s duction on some oil wells. He was very dangerous work, and a 16- very good at working the oil fields. Bankruptsy and Work-Outs year-old boy shouldn’t do that. So I I started doing the geological sur- worked around, moving pipes and veys for him and his friends. Even pipeline all along the field – that’s though I was ten years his junior, I what a roustabout does – and then I was very well versed in what had to became so enamored with the pe- be done geologically because of my THE NATIONAL HERALD, MARCH 14, 2009 Wealthiest Greek Americans 2009 5 experience with the Corps of Engi- restaurants in Galveston’s historic Mitchell Energy & Development neers,” he said. Strand area, to include the historic had also added 0.50 percent of all “During the War, while I was do- Tremont House, one of the area’s commercial land sales by The ing work for many companies, a premiere hotels. Woodlands to the fund. couple of them tried to get me to “Many of us who left Galveston The artwork is a tribute to Mr. join them afterwards. I said, ‘No, and fought in high-pressure arenas Mitchell’s accomplishments and thank you.’ They were mostly in oil like Houston saw opportunities leadership in developing what is and gas production. It was a good that the locals didn’t see,” he said. now considered one of the coun- opportunity, but I wanted to join Mr. Mitchell won the Galveston try’s premier planned towns, and my brother in the petroleum engi- Historical Foundation’s Spirit of the Nature Conservancy of Texas neering field,” he said. Elissa Award in 1999, and both he recognized Mr. Mitchell last year “So I told Johnny, ‘Let’s team up and Mrs. Mitchell were given one for his sensitivity to the environ- together.’ He had a group of Jewish of the country’s top awards for his- ment in the overall development of investors supporting him – the ‘Big toric preservation in 2001, the Na- The Woodlands community, and Nine,’ that’s what we called them – tional Trust for Historic Preserva- gave its 2008 Corporate Conserva- and I got six of them to pay me $50 tion’s Crowninshield Award. “Cyn- tion Leadership Award to The each a month, so we could lease a thia did so much work for Galve- Woodlands Development Company well and keep an interest in it if it ston, so they decided to recognize for developing the 1,700-acre was successful. I started putting her for that,” he said. George Mitchell Nature Preserve in deals together, and I’d be working Mr. Mitchell’s interest in historic the village of Creekside Park. at night because we had to borrow preservation is also strongly con- Some of his critics have ques- the electrical equipment I needed nected to his keen interest in envi- tioned Mr. Mitchell’s environmen- to interpret the geology of the well. ronmental conservation, and he tal conscience, “but you can’t We couldn’t afford to buy the has advocated for oil companies to please everybody. The thing is, you equipment at the time because it quickly phase out single-hull can run a gas company with the en- was too expensive, so I had to bor- tankers, which are more prone to vironment in mind, and land devel- row it at night and return it the damage and oil spillage. opment can be environmentally next morning” he said. He also favors sustainable devel- friendly,” he said. “I would analyze the geology opment (a combination of social, “I knew that all the cities across and prepare the maps that showed economic and environmental pro- the country could not manage them where we had a chance to tection), which for him started in themselves. That’s why people fled find oil and gas. And Johnny and COURTESY OF GPM Inc. the early 1970’s when concerns the cities for the suburbs. So The another person he had working George P. Mitchell, left, and his brother Johnny, right, with their partner H. Merlyn Christie at company about overpopulation and strain on Woodlands is a good example of with him would try to lease the headquarters in Houston back in the 1950’s. Johnny, ten years George’s senior, died 13 years ago. natural resources surfaced. This in- how we can could do a better job in land. Then I’d send them down to spired him to found The Wood- the new towns and developments Esperson drug store, where all the cess had its share of pitfalls and Roxoil Drilling, was formed and be- The company was eventually al- lands in 1974, a 28,000-acre subdi- that started springing up,” he brokers would have breakfast and headaches along the way. gan acquiring leases and drilling lowed to drill, and the first well vision north of Houston which he added. coffee in the morning, to do the The way around those pitfalls rights in North Texas. In 1954 the came in 1972. By 1989, Galveston sold in 1998. Mr. Mitchell is the recipient of deal. They’d end up selling a pack- was to concentrate on natural gas, company arranged to supply natur- oil and gas operations had earned The Woodlands has been Texas’ numerous awards. Honors accord- age for enough money to drill the Mr. Mitchell told the Herald. al gas to the Chicago metropolitan $11 million in royalties, of which best-selling master-planned town ed to him include the Texas A&M well, and then if we made a well “We had a lot of bumbling bomb area through the Natural Gas the city of Galveston received 16 since 1990. It carefully integrates a Distinguished Alumnus Award and got a 1/32nd interest, we’d be spins along the way, and we basi- Pipeline Company of America. percent, and had generated more range of recreational amenities, (1977); the Horatio Alger Award happy,” he said. cally had a tough time selling deals. Company headquarters were in than $5 million in state and local residential neighborhoods, com- (1984); The Galveston Daily News’ “We had a very small interest. There were a lot of big-time players Houston from 1955 to 1971. In taxes. mercial office space, retail shops Citizen of the Year and the Ima There were just three of us. But we close to the money, and they would 1957, the firm diversified into gas By the early 1990’s, the compa- and entertainment venues in a nat- Hogg Historical Achievement made a lot of discoveries over the take our deals pretty quick. If you processing with the construction of ny was involved in gas transmis- urally beautiful setting. Fully 28 Award (1988); Merrill Lynch, Ernst next 40-50 years after that, and we worked in an oil area, they proba- its GM&A Gas Products plant in sion, as well as oil and gas explo- percent of The Woodlands is dedi- & Young Magazine’s Master Entre- became the largest independent oil bly wouldn’t do a deal with you be- Bridgeport, Texas. Mr. Mitchell be- ration and production, and was al- cated to green space, including preneur of the Year (1992); the and gas company by the time we cause they were really after the oil came president and chief executive so involved in real estate develop- parks, pathways, open spaces, golf Texas Business Hall of Fame Award sold it to Devon in 2002 (for $3.5 for themselves,” he said. officer of Roxoil Drilling in 1959, ment in the Houston-Galveston courses and forest preserves. and the National Preservation Hon- billion). We had 2,000 people “So we concentrated mainly on and H. Merlyn Christie retired from area. The firm had assets of more Although Mr. Mitchell is no or Award (1994); the Governor’s working for us by then,” he added. natural gas because I knew that gas the company in 1962, leaving the than $2 billion, including roughly longer the developer, he still keeps Award for Historic Preservation Devon Energy, consistently rat- was going to be the most important Mitchell brothers to split their 1.7 million acres of mineral leases tabs on The Woodlands’ progress. (presented to Mr. and Mrs. Mitchell ed by FORTUNE magazine among source of energy. We found out shares 70-30, with George taking and 60,000 acres of real estate. It Executives with The Woodlands by George W. Bush in 1995); the the top 100 companies to work for that, if you worked on a lease you the bigger slice. owned 57 gas-processing plants Development Company often seek Nature Conservancy of Texas’ Life- (ranked 48th in 2008), is one of the wanted in a gas area, the company After 1955, the firm began to di- and a network of 5,000 miles of in- his advice on projects, and Texas time Achievement Award (1997); world’s leading independent oil would make a deal with you, so versify into real estate. Mr. Mitchell trastate pipeline. By the end of the artist Jay Hester created a life-size and the Prevent Blindness Texas’ and gas exploration and produc- that’s what we set our sights on,” he formed Mitchell Development of fiscal year 1993, the corporation bronze sculpture in Mr. Mitchell’s People of Vision Award (presented tion companies, with operations fo- added. the Southwest, a subsidiary, to pur- was producing 58 billion cubic feet likeness, which was unveiled in the to Mr. and Mrs. Mitchell in 2000). cused primarily in the United The Mitchell brothers and their chase Pelican Island, a 3,000-acre of natural gas annually and more town’s Green Park on November 8, LOVE AND PHILANTHROPY States and Canada. It is North partners drilled their first well in industrial area at Galveston harbor than 19 million barrels of natural 2007. People close to Mr. Mitchell America’s largest processor of nat- North Texas, making one of the which eventually attracted gas liquids, crude oil and other Mr. Hester also created two oth- would say his wife had a lot to do ural gas liquids, and owns natural biggest gas strikes in industry histo- Pennzoil, Shell and other major pe- products from its holdings in North er sculptures for The Woodlands. with his historic and environmental gas pipelines and treatment facili- ry, in Wise County near Fort Worth, troleum companies. Texas, East Texas and Southeastern One is of Mr. Mitchell sitting on a consciousness. If nothing else, Mr. ties in many of its producing areas. with the discovery of the rich gas In the late 1960’s, Mr. Mitchell New Mexico. bench, visiting with two of his Mitchell clearly loves Cynthia very Mr. Mitchell and his family still resources in the Boonsville Field. also began to acquire beachfront THE ENVIRONMENT AND grandchildren; the other is of his much. In recounting the story operate some of their own wells, “The first well we made had gas property in Galveston, including Pi- HISTORIC PRESERVATION wife reading to three children. Both about how they first met, he seems and have a “big block of stock” with in it, and we got three and a half rates’ Beach, his first subdivision. Back in the 1980’s, Mr. Mitchell sculptures are at the north entrance to have taken after his father in Devon. His son, J. Todd Mitchell, is cents per thousand cubic thousand At the same time, he became inter- and his wife took a very active in- of The Cynthia Woods Mitchell matters of the heart. He met his on Devon’s board of directors. feet of gas. It’s now over $4 per ested in developing both onshore terest in the city of his birth, and Pavilion. wife and her twin sister Pamela on Long before Devon came along, thousand. The first three quarters and offshore gas and oil prospects started restoring Galveston’s Victo- The sculptures are three of 49 a train ride back to Houston from the original name of the Mitchell of last year, it was anywhere from in the vicinity of Galveston Island. rian buildings, helping to revive it throughout the community, and the College Station after going to an brothers’ company was Roxoil $8 to $12.60, so it’s gone down Worried that offshore drilling from decades of decay. collection is part of the town’s pub- A&M football game with his broth- Drilling, which eventually became some. But throughout our history, might pollute the beaches and In 1984, Mitchell Development lic art program Mr. Mitchell started er Johnny. Mitchell Energy & Development we concentrated most of our efforts damage the tourist trade, some established the San Luis Hotel & when he first opened The Wood- “The girls were originally from Corp. Johnny Mitchell stayed in- on how to do the best job possible Galveston residents responded Condominiums at the former site of lands. He established an art fund in New York City, but had moved to volved until the 1970’s, when with natural gas,” he added. with a coalition called “Save Our Fort Crockett on Galveston Island. which businesses contribute 0.25 Illinois when they were nine, after George finally bought him out. But In 1953, the Christie, Mitchell & Shores,” which voiced disapproval By the 1990’s, Mr. Mitchell owned percent of their construction costs the steady drive to profits and suc- Mitchell Company, a subsidiary of of the company’s drilling plans. 18 buildings, housing, shops and to help buy public artwork, and Continued on page 6

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WR Compliments of a friend 6 Wealthiest Greek Americans 2009 THE NATIONAL HERALD, MARCH 14, 2009 Mitchell Dedicated to the Enivornment, Medicine and Historic Preservation

Continued from page 5 the $57 million project. “Global warming is a big prob- It was just one in a series of gen- lem, too. We’ve got to figure out their father died. Their mother re- erous donations Mr. and Mrs. how to cut back on carbon emis- located to Jacksonville, Illinois Mitchell have made to support sions. We’ve got to figure out how where they went to high school, A&M’s scientific advancement. to get natural gas across the ocean, and then their mother took them to With previous gifts supporting aca- and we’ve got to make environ- Houston so they could go to college demic chairs, professorships and mental conservation more effec- there. That’s how they ended up in the Giant Magellan Telescope pro- tive. We’ve got a real problem on Texas,” he said. ject, the Mitchells are the universi- our hands,” he said. “Johnny was a very strong foot- ty’s most supportive benefactors of “Those who think solar and ball fan, and every time there was a the modern day, with donations wind energy can solve the problem football game, we’d get on a train now totaling nearly $49 million for are dreaming. Even with solar and from Houston to College Station, the sciences alone. wind energy – and other things that and have a big party. On the way Mr. Mitchell’s contributions to might help, like ethanol – it’s not back from one of those games, right the study of science have brought enough. Solar and wind energy before Thanksgiving, I met these some of the world’s most brilliant could be 20-25 percent of the solu- two beautiful young ladies. They scientists to Texas, to include the tion. But you still need oil and gas were identical twins,” he said. great Stephen Hawking who, along because the petroleum era is still “One of them had a boyfriend – with some of his closest colleagues, going to be here for another 30-50 the man she finally married – but I spent time at Mr. Mitchell’s ranch years,” he said. was able to get acquainted with the near Magnolia, where they supped “Conservation is also a very im- other one, and somehow, I got her on high cuisine – much of it, such as portant part of the solution. I think phone number, and that’s the one I wild boar, from the ranch itself. we’re going to have to figure out called later on. I ended up having a “George is a remarkable man how we’re going to cut back on date with her, and we became and a wonderful supporter of fun- everything. Conservation needs to steady. I was a lieutenant in the damental physics,” Dr. Hawking be about 25 percent of the solu- Army at the time, but I had already told the Houston Chronicle back in tion,” he added. stopped working in Louisiana, and April 2007. “He has enabled us to Asked if he thought the judi- was working in Houston on those bring together leading experts and cious use of nuclear power was also big projects,” he added. promising young researchers to part of the answer, Mr. Mitchell Mr. and Mrs. Mitchell’s commit- tackle some of the most challeng- said yes, but noted that nuclear ment to education and scientific re- ing problems in cosmology.” COURTESY OF TEXAS A&M UNIVERSITY power is still a thorny issue, and search is equally zealous. THE FUTURE One of the two new Physics buildings currently under construction at Texas A&M University, a $57 million that the U.S. has a lot of competi- When Texas A&M commemorat- His philanthropic devotion to project to which George P. Mitchell donated $35 million. Mr. Mitchell is a 1940 graduate of Texas A&M. tion for energy from other coun- ed the conclusion of its seven-year, historic preservation, environmen- tries like China and Russia. $1.5 billion “One Spirit, One Vi- tal conservation, education and sci- The other problems, which he ural gas are finite sources of energy, of our oil is being imported, so we’re “Nuclear power will be impor- sion” fundraising campaign with a entific and medical research aside, said are directly linked to the eco- he pointed out, so it’s important to in big trouble all the way around tant, too, but it’s so costly with all campus celebration on March 30, Mr. Mitchell is worried about nomic crisis, and ultimately have seek and find alternatives – not to with gas and oil,” he said. the environmental considerations. 2007 – a celebration attended by America’s future. an overarching effect on not just replace but to supplement fossil fu- “We have to import it because But there’s no doubt that nuclear 1,000 of the university’s top donors He is old enough to remember the American but also the global els. we can’t find enough of our own. power will be necessary. China and and corporate partners – it was an- the Depression and what it’s like to economy, are global warming and “Natural gas is a very clean and We’ve already explored the country other developing nations are trying nounced that Mr. Mitchell and his be poor, and says that, while no one the world’s declining fossil fuel re- efficient form of fuel, and it’s still a pretty thoroughly. There are still a to sop up all the oil, so the whole wife had donated $35 million for is referring to today’s financial serves. big part of the solution, but we’re in lot of big discoveries to be made, petroleum industry is working real- two new physics buildings, with meltdown as an economic depres- He told the Herald he believes short supply of it. We’re importing but our demand will keep any new ly hard to find alternatives to com- floor space totaling more than sion, rising unemployment, the natural gas is still a big part of the natural gas from the Middle East reserves from being enough. The pensate for the oil and gas shortfall. 150,000 square feet for laborato- slump in the housing market and solution to the country’s energy and places like Trinidad because, world is going to be in deep trouble Russia has a lot of reserves, and ries, classrooms, offices and an au- the overall decline in the stock mar- problems, but that alternative right now, we’re short on natural gas in 20 or 30 years, so we’ve got to do they’re going full blast, but not all ditorium. The Mitchells con- ket are clearly cause for deep con- sources and more prudent use of by 25 percent. So a lot of our gas is something about what’s going on,” of what they have is readily accessi- tributed by far the largest sum to cern. energy are necessary. Oil and nat- needs to be imported. Sixty percent he said. ble,” he said. 50 Wealthiest Greek Americans Stand Strong, but also Grapple with Economy

ach year since 1999, based on available information, the National Herald has done its level best to present 1. HASEOTES FAMILY ery and warehouse in Westbor- the 50 wealthiest members of our community. We do this because people like to read and learn about suc- $3.2 BILLION ough, Massachusetts, and pur- cessful people, and learn from them. This is confirmed by the interest this particular insert generates, with- FOOD, PETROLEUM PRODUCTS, chased 550 Gulf and Chevron ser- out fail, year after year. CONVENIENCE STORES vice stations and related assets in E ten Northeastern states for $250 We don’t want to suggest that having a lot of money is the only measure of success. There are people in various Greek immigrants Vasilios and million. The transaction included professions and careers, dedicated to helping and serving others, who are immensely successful, but who don’t Aphrodite Haseotes bought a one- 25 marketing terminals and con- make vast amounts of money. cow dairy farm in Cumberland, tracts to supply gasoline to about Material success is nonetheless an undeniable indicator of keen native intelligence and tremendous ambition. Rhode Island for $84 in 1938. 1,700 Gulf dealers and 2,000 sta- Those who succeed in making a lot of money for themselves, and hopefully for others, clearly demonstrate certain Cumberland Farms (incorporated tions supplied by jobbers, making aptitudes many of us don’t have. They tend to be very shrewd and astute businessmen who, among other qualities in 1957) eventually grew to be- Cumberland Farms the largest in- like determination and drive, share particular traits: come the largest dairy farm opera- dependent seller of gasoline in They are able to recognize opportunities almost immediately, even when those opportunities are largely hidden; tion in Massachusetts, with herds America, and also a supplier of they have no fear in seizing those opportunities; and they know how to get to the heart of a matter without wast- of more than 3,000 cows, heifers heating oil and aviation fuel. At one ing anybody’s time. They also tend to read people very well, possessing, as they do, an inherent understanding of and calves. In 1956, the company point, Cumberland Farms had human nature and motivation. opened a jug-milk store in Belling- 1,200 stores, about half of which They are not without their flaws, of course – no one is – but there’s something just a little bit different about very ham, Massachusetts. Few conve- were selling gas. Now a company of nience food stores, offering dawn- 900 stores, FORBES ranked Cum- affluent people, and the Herald’s “50 Wealthiest Greeks in America” celebrates their greatness; it is not intended to to-midnight service every day of berland Farms the past November be a commentary on human failings. the week, existed in the 1950’s, and ters are in Canton, Massachusetts. 35th among the country’s largest That said, it’s important for our readers to understand that this very special annual insert is not published light- most of them were limited to the Cumberland Farms owns and oper- privately held companies, with heartedly. It requires a colossal amount of effort and research, and “available information” is definitely the going South. But by 1967, there were ates convenience stores and gas 6,500 employees and $8.1 billion term. some 8,000 with more than $1 bil- stations throughout New England, in revenues in 2007, up from $7 bil- When we make our estimations on the net worth of those who are on our list, we do so from a variety of angles, lion per year in sales. With some New York, the Mid-Atlantic States lion in 2006. and always with a conservative eye: 400 stores, Cumberland Farms was and Florida under the Cumberland Some were actually willing to give us a figure they were comfortable with; many of them declined to do so, among the industry leaders. Most Farms, Exxon and Gulf names. Its telling us we were free to make an educated guess. In making our own calculations, we considered reliable sources of the stores were in rural and sub- Gulf Oil arm sells gasoline to fran- 2. GEORGE P. MITCHELL of information – reputable publications like FORBES and FORTUNE magazines, the New York Times, numerous urban areas, where land was chised service stations. The compa- $2.8 BILLION business journals and local newspapers. cheaper and crime rates lower than ny first added a gas station to one ENERGY, REAL ESTATE This year’s list has a few “newcomers.” We use the term loosely because, in many ways, they are well known in the cities. By the early 1990’s, of its stores in 1970. When major Cumberland Farms ranked third gasoline dealers abandoned their Ranked 128th among FORBES’ quantities in the corporate world, and have been around for a long time. And because of current market conditions, among the country’s convenience service stations in the wake of the “400 Richest Americans” this past which left virtually no one unscathed, some who had made it onto the list in previous years, were dropped. store chains, and was also a leader 1973-74 Arab oil embargo, Cum- September with an estimated net Others we have probably underestimated; still others may have been overestimated a little. Traditional mem- in both the retail and wholesale dis- berland Farms was quick to snap up worth of $3.2 billion, Mr. Mitchell bers of this elite club – e.g., billionaires listed in FORBES – were “downgraded” because the economy went south. tribution of petroleum products. A choice locations in the Northeast is chairman of GPM Inc., and is now We’re confident their formidable business sense shielded them from the financial meltdown somewhat, but even closely held family-owned compa- and Florida, even though the com- 89 years of age. The son of a Greek they couldn’t have protected themselves completely. ny since its inception (Lily pany itself had been badly hurt by immigrant goatherd, he grew up in Finally, while we believe our new list is authoritative, by no means do we claim final authority on this subject. Haseotes-Bentas is company chair), the gas shortage. By 1975, howev- Galveston, Texas – in the same We know there are other intensely private individuals who probably could be included. We also know there are oth- Cumberland Farms has since grown er, Cumberland Farms opened its building where his father’s dry ers who remain to be discovered. And we will keep trying to find them. to become a multi-billion-dollar 1000th store. The following year, it corporation. Company headquar- opened a 550,000-square-foot bak- Continued on page 8

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paid $39 billion for Sam Zell’s Equi- focused on life sciences invest- runs his company’s in-house adver- try’s largest privately held compa- ty Office Properties in November ments. A Greek culture enthusiast, tising agency. Together, they help nies, with 13,000 employees and 2006. As of this past December, he and his wife Mary are major run the Hellenic Times Scholarship $2.5 billion in revenues in 2007, Blackstone was managing $91 bil- benefactors of the New York Metro- Fund, which has awarded hun- Market Basket has stores from cen- lion in fee-earning assets, and end- politan Museum of Art. He also dreds of thousands in scholarships tral New Hampshire to Bristol ed 2008 with $504 million in avail- supports medical and nutrition re- to Greek American students all over County, Massachusetts with head- able cash, which exceeded all out- search at Tufts University, where the country over the past 17 years. quarters in Tewksbury, Massachu- standing borrowings. Its financial his son Steven studied Medicine, Mr. Catsimatidis has said he plans setts. Supermarket News ranked advisory board reported record rev- and donated $10 million to Tufts to run for mayor of New York City Market Basket #45 in 2008’s “Top enues of $411 million in 2008, a 12 University to help establish the $60 this year. If he runs and wins, he 75 North American Food Retailers.” percent increase from 2007, and million Jaharis Family Center for would be the Big Apple’s second The grocery retailer also manages net fee-related earnings of $428 Biomedical & Nutrition Sciences. billionaire mayor after current, out- real estate interests. Market Basket million, up 11 percent from Pro The facility has been hailed as the going Mayor Michael Bloomberg. supermarkets are typically located Forma Adjusted net fee-related first in the country to bring biomed- in shopping centers with other re- earnings for 2007. Blackstone’s real ical science, nutrition research and tail outlets, including properties estate funds, hedge funds and GSO public health policy together under 6. GEORGE L. ARGYROS owned by the company through its Capital Partners (its credit-oriented one roof. Mr. Jaharis has been vice $1.4 BILLION real estate arm, Retail Management alternative asset manager, with ap- chairman of the Archdiocesan REAL ESTATE & Development (RMD Inc.). Greek proximately $26.6 billion of assets Council of the Greek Orthodox immigrants Athanasios (Arthur) cleaning shop was located. A 1940 under management as of Septem- Church in America since 2000. He Ranked 262nd in the FORBES developed his passion for the stock and Efrosini Demoulas opened a graduate of Texas A&M University ber 30, 2008) credit-oriented funds is the son of Greek immigrants; has 400 with an estimated net worth of market as a teenager after investing grocery store in Lowell, Massachu- with a degree in petroleum engi- all reported net inflows during two children; and resides in New $1.8 billion this past September, his parents’ $5,000 nest egg. After setts in 1917, specializing in fresh neering, he served in the U.S. Army 2008. Despite adverse global mar- York City. Mr. Argyros, 72, made his fortune earning his MBA, he became an ear- lamb. In 1954, they sold their store Corps of Engineers during World ket and economic conditions in in real estate and investments. He ly authority on convertible securi- to two of their six children, War II before founding Roxoil 2008 (shares were down 25 per- earned his bachelor’s degree at ties, and launched an investment Telemachus (Mike) and George De- Drilling, which eventually became cent last year), the firm is moving 5. JOHN A. CATSIMATIDIS outfit which eventually became moulas. Within 15 years, the two Mitchell Energy & Development ahead with its new buyout fund. $1.8 BILLION Calamos Asset Management in brothers had transformed their par- Corp, with his brother Johnny in Neither Mr. Peterson nor Mr. OIL, REAL ESTATE 1977. The company went public in ents’ mom-and-pop grocery store 1946. He struck it rich in oil and Schwarzman received any bonuses AND SUPERMARKETS 2004. A much-lauded moneyman into a more modern Supermarket natural gas. He made his fortune by in 2008. The son of Greek immi- over the last few years, Mr. Calamos chain consisting of 15 stores. De- wildcatting (i.e., searching for, and grants, Mr. Peterson grew up in Ne- Ranked 215th among the – worth $2.7 billion just two years moulas Markets became a virtual finding, reserves) in North Texas braska. He studied at Northwestern FORBES 400 with an estimated net ago, according to FORBES – is feel- category killer in the Merrimack and Southern Louisiana oil and gas University, and earned his MBA worth of $2.1 billion this past Sep- ing the economic pinch as his funds Valley area, often leading other Su- fields, and then selling most of his from the University of Chicago. He tember, Mr. Catsimatidis, 60, is falter. His firm was managing $23.3 permarkets in the area to close. company’s interests to Devon Ener- served as secretary of commerce chairman & CEO of the Red Apple billion in total assets at the end of George Demoulas died of a heart gy for $3.5 billion in 2002. He in- under President Nixon, and be- Group. Ranked 100th this past No- January 2009, as opposed to $42 attack in 1971 while vacationing in vested the proceeds of the sale in came chairman of Lehman Brothers vember among the country’s billion at the end of January 2008, Greece, making Mike the sole head real estate: e.g., Bald Head Island, in 1973. He also headed the Feder- largest privately held companies by and was forced to lay off 7 percent of the Demoulas supermarket a popular eco-friendly vacation al Reserve Bank of New York from FORBES, with 7,800 employees of its staff. In a recent interview with chain. Although Mike had destination in North Carolina. He 2000 to 2004. He is the author of and estimated annual revenues of the Chicago Tribune, Mr. Calamos promised to provide for his broth- also owns more than 20 hotels and several books, and lectures and $3.95 billion, Red Apple has hold- said that while other financial giants er’s family in the event of his death, private buildings. He resides in The speaks on television frequently ings in oil refining, retail petroleum are crumbling, his firm is “not in fi- a lawsuit filed in 1990 by George Woodlands, an environmentally about issues of fiscal responsibility. products, convenience stores, su- nancial trouble,” and said economic Demoulas’ heirs alleged that Mike friendly master-planned he found- He has also committed $1 billion of permarkets and real estate. Mr. downturns also create conditions had defrauded them out of all but 8 ed backing 1974, with his wife, his own money (in stages) to estab- Catsimatidis’ fortune accelerated for new opportunities. “We’ve been percent of company stock by mov- Cynthia. They have ten children lish the Peter G. Peterson Founda- with rising oil prices in 2007-08. Chapman University. A second-gen- at this level before, and we doubled ing assets into shell companies and and 28 grandchildren. The tion, which will help educate His parents came to America from eration American of Greek descent, our assets when we were at this lev- claiming those were separate com- Mitchells are one of A&M’s largest younger generations about how to the island of Nisyros while he was a he was born in Detroit and raised in el last time,” he said. Mr. Calamos panies from DeMoulas itself. The private benefactors. Their gifts in solve what he believes are Ameri- child. He grew up in New York City Pasadena. He went into real estate also has a private real estate arm, ensuing legal case threatened to re- support of the University’s Physics ca’s most significant economic in 1962, selling land at busy inter- Calamos Real Estate LLC, and leases quire the sale of the chain. In 1994, department include $35 million al- challenges. Mr. Peterson now re- sections to oil companies to set up space for a project off Interstate 88 Judge Maria Lopez ruled that Mike location to a $57 million project for sides in New York. He is married to gas stations. Today, his privately and Highway 59, and a complex Demoulas had defrauded George’s construction of two new facilities. Joan Ganz Cooney, founder and held Arnel & Affiliates owns and across the street which includes a re- family out of nearly $500 million, The couple has an active interest in chairman of Children’s Television manages 5,200 apartments and 2.5 cently opened hotel, office and retail transferring 51 percent of De- historic preservation, and has tak- Workshop (“Sesame Street,” “Elec- million square feet of commercial space. Some 50,000 square feet of moulas’ stock to George’s family. In en a leading role in rejuvenating tric Company” and “3-2-1 Con- space. Mr. Argyros founded the pri- space remain vacant, “but we’re do- March 2006, Boston Magazine Galveston’s historic Strand District tact”), and is the father of five. vate equity firm Westar Capital in ing okay considering the environ- ranked Arthur S. Demoulas (son of and helped revitalize the city’s mid- 1987; he invests in pet products ment,” he told the Tribune. Mr. George) 8th among the Boston winter Mardi Gras celebration, (Doskocil), coolers (Igloo) and au- Calamos was the first member in his area’s 50 wealthiest persons, as- which now draws 500,000 visitors 4. MICHAEL JAHARIS to technology (Amerigon). His is al- family to graduate from college; he cribing to him a net worth of $1.6 annually. Mr. Mitchell still goes to $1.8 BILLION so a former U.S. ambassador to joined the U.S. Air Force and flew O- billion, including assets. his office almost every day, and still PHARMACEUTICALS Spain, appointed by President 2 Skymasters as a combat pilot in travels regularly for business pur- George W. Bush in 2001, after lead- Vietnam, earning the rank of major. poses. He is a major benefactor of Ranked 246th among the ing GOP fundraising efforts in Cali- He keeps his aviation skills honed by 9. C. DEAN METROPOULOS the Houston-Galveston area’s hos- FORBES 400 with an estimated net fornia in 2000. Mr. Argyros is one flying his Marchetti jets. Mr. Calam- $1.2 BILLION pitals. He is also a nature enthusi- worth of $1.9 billion, Mr. Jaharis, of the top Republican fundraisers in os is chairman & CEO of Calamos In- FOOD, MANAGEMENT ast, and a believer in environmen- 80, was chairman of Miami-based the country. He hosted a $25,000- vestments, which he runs along with AND ACQUISITIONS tal and energy conservation. He is KOS Pharmaceuticals. He earned per-couple dinner for U.S. Senator his nephew Nick and his son John. opposed to oil drilling in the Alaska his bachelor’s degree at Carroll Col- John McCain (R-Arizona) at his The company provides money man- Mr. Metropoulos, 62, is very wildlife refuge, and has funded a lege in Wisconsin, and his law de- on Manhattan’s west side. He at- home last year, an event which agement services to major corpora- well known in the private equity, $10 million National Academies gree at DePaul University. A veter- tended New York University, but raised over $1 million for Mr. Mc- tions, institutions, pension funds, in- investment banking and financial study on sustainable development an of the Korean War, he became a dropped out before completing his Cain’s 2008 Presidential bid. Mr. surance companies and individuals. community, having spent the past and population growth. sales rep for Miles Laboratories, degree requirements because of Argyros also served on the Federal He donated $2 million to Chicago’s two decades building, restructur- business demands. He opened his Home Loan Mortgage Corporation Hellenic Museum & Cultural Center. ing and growing numerous busi- first grocery store in 1969, and under the President George H.W. “We have embarked on a grand mis- nesses in the U.S. and Europe. 3. PETER G. PETERSON owned ten stores by the age of 24, Bush. He lives in a $4.5 million es- sion,” he said. “We are building a na- Many of these were subsequently $2.2 BILLION making $25 million a year in rev- tate on Harbor Island in Newport tional institution to honor our par- taken public or sold to strategic cor- ALTERNATIVE INVESTMENTS enue. He plowed $5 million into Bay, California. He is a recognized ents and grandparents: to honor our porations. He was chairman & CEO Manhattan real estate in 1977; that business leader and philanthropist. rich Hellenic history. The only insti- of Pinnacle Foods, the parent com- Ranked 147th among the property was worth $100 million He was the 1993 recipient of the tution of its kind, we are building so pany of staple food brands such as FORBES 400 with an estimated net just five years later. Today, Red Ap- Horatio Alger Award of Distin- that we, as Greeks in America, as Duncan Hines, Armour, Vlasic, Mrs. worth of $2.8 billion this past Sep- ple reportedly owns $500 million guished Americans, and a 2001 re- well as those who support Greek Paul’s, Swanson and Celeste. Pur- tember, Mr. Peterson, 82, is co- worth of property and the Grist- cipient of the Ellis Island Medal of arts, history and education, can chased by the Blackstone Group for founder and former chairman of edes’ supermarket chain. He stum- Honor. He has served on the board showcase and celebrate Greek her- more than $2 billion in February the Blackstone Group, one of the bled upon the Chapter 11 proceed- of trustees for several community itage and contributions for genera- 2007, Pinnacle’s signature was world’s largest private investment ings of United Refining in Warren, organizations, including vice chair- tions of Americans of all back- buying well-known brands, and firms with holdings in New York, Pennsylvania and purchased the oil man of the business & finance com- grounds.” then expanding their lines by Boston, San Francisco and Wash- refiner’s stock for $7.5 million. To- mittee for the California Institute of adding new products. Mr. ington. Mr. Peterson co-founded day, the firm owns 372 gas stations Technology; as chairman of the Metropoulos is still chairman & Blackstone with Stephen Schwarz- and convenience stores all along board for the Beckman Foundation; 8. ARTHUR S. DEMOULAS CEO of C. Dean Metropoulos & Co., man in 1985 with $400,000; since the Eastern Seaboard. He is also re- chairman emeritus and treasurer $1.4 BILLION an exclusive $2 billion per year then, the firm has invested in over portedly on the lookout for buying for the Horatio Alger Association; FOOD INDUSTRY management services company 110 companies. Net profits in 2006 refineries from oil firms looking to and as a member of the Chapman with offices in New York and were $2.3 billion. Blackstone and earned his law degree at night. shed assets. He created the blank University board of trustees, on Demoulas Supermarkets, more Greenwich, Connecticut. The firm agreed to buy Hilton Hotels for $26 He partnered with Phillip Frost in check company United Refining which he served as chairman for 26 commonly known as Market Bas- focuses on the acquisition and op- billion in July 2007. The firm also 1972, and acquired Key Pharma- Energy in December 2007, and years prior to his appointment as ket, is a chain of 58 supermarkets in eration of companies with con- ceuticals. Key increased sales from raised $450 million in a public of- ambassador. Mr. Argyros is married eastern New England. Ranked sumer brand products, and has $2 million to $200 million with a fering. Mr. Catsmatidis is a licensed with three children, and enjoys 168th by FORBES among the coun- been involved in more than 48 ac- top asthma drug and cardiovascu- pilot. He has helped raise millions sailing, skiing and hunting. quisitions involving over $12 bil- lar patch. It was sold to Schering- for Alzheimer’s, Parkinson’s and Ju- lion in invested capital since 1993, Plough for $836 million in 1986. venile Diabetes research. He served featuring some of the world’s best He launched KOS two years later, as co-chairman and founder of the 7. JOHN P. CALAMOS known brands of food products. investing $200 million to develop Brooklyn Tech Endowment Foun- $1.4 BILLION “I’m in the acquisition business, and commercialize cholesterol- dation. The $10 million fund is the MUTUAL FUNDS and I love it,” he says. “I love find- control drugs. KOS, named after largest gift to a secondary school in ing opportunities; negotiating the the Greek island where Hip- the United States. He funds the Ranked 281st among the deals; and repositioning the busi- pocrates founded the science of John Catsimatidis Scholarship FORBES 400 with an estimated net nesses, many of which are trou- Medicine, went public in 1997 and Fund at the NYU School of Business worth of $1.7 billion, Mr. Calamos, bled, though many are not. There dominated the market with nias- (two scholarships awarded annual- 68, earned both his bachelor’s de- are many opportunities out there pan, which helps raise good choles- ly since 1988). He is a past presi- gree in economics and his MBA from that need energy, focused hands-on terol. KOS was sold to Abbott Labs dent of the Manhattan Council of the Illinois Institute of Technology. A management and financial exper- for $4.2 billion in 2006, adding an- Boy Scouts of America. He is also son of Greek immigrants, he is a tise. If we’re proud of anything, it’s other $700 million to Mr. Jaharis’ the publisher of the Hellenic Times. product of Chicago public schools, that no one has ever lost money fortune. He now oversees a private He married and the father of two and grew up above his family’s gro- equity firm, Vatera Capital, and has young children. His wife Margo cery store on Chicago’s west side. He Continued on page 12

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$12 billion in invested capital over the past 12-15 years. Mr. Metropoulos already had an very impressive track record prior to that. From 1983 to 1993, he served as president & CEO of Stella Foods, a national manufacturer, marketer and distributor of specialty cheeses. He served as chairman & CEO of the Morningstar Group Inc. Exceptional spiritual gifts from 1994 to 1997, when Morn- ingstar was sold to Suiza Foods for $960 million, and served as presi- for the discerning eye... dent & CEO of Stella Foods, a na- tional manufacturer, marketer and distributor of specialty cheeses. Mr. Metropoulos served as CEO of Bumble Bee Seafoods, and as exec- utive and non-executive chairman of Premier Foods PLC from Septem- with us.” Mr. Metropoulos. He used ber 1999 to May 2004. He also ington, and Massachusetts-based to own a company called Interna- serves as a director of Ghirardelli private investment company since tional Home Foods, which included Chocolate Company, and as a direc- 1998. A 1957 graduate of North- Chef Boyardee canned pasta prod- tor of LIN Television Corporation. eastern University, Mr. Behrakis al- ucts, PAM cooking spray, Bumble Mr. Metropoulos and his wife Mari- so studied at Boston University, and Bee tuna, Jiffy Pop popcorn and anne have two sons, Evan and Dar- is a recognized leader in the phar- Gulden’s mustard in its repertoire. ren, who also play an active role in maceutical industry. He began his He sold it to ConAgra in 200 for the Metropoulos enterprise. The career at McNeil Laboratories (a di- $2.9 billion (including $1.3 billion Metropoulos family owns and oper- vision of Johnson & Johnson), and of debt). Born in Greece, he came ates Castle on the Hudson, a luxuri- later founded Dooner Laboratories to America at nine years of age ous hotel overlooking the Hudson which, during this tenure, devel- when his father came looking for a River in Tarrytown, New York. oped and manufactured a leading better future for his children. The asthma medication. He purchased Metropoulos family lived in Water- Muro Pharmaceuticals in 1978. town, Massachusetts where Jimmy 10. ALEX G. SPANOS Muro developed drugs for asthma, Metropoulos worked at the Star $1 BILLION allergies and respiratory disorders. Market and later owned a restau- REAL ESTATE AND Mr. Behrakis sold Muro in 1997, re- rant in Newton called Cabot. PROFESSIONAL FOOTBALL tiring as president & CEO in June of Metropoulos went to college on a 1998. After selling Muro, he scholarship, and after graduate Mr. Spanos, 85, owns the Na- pledged 10 percent of his earnings school at Babson College and a year tional Football League’s San Diego from the deal on charitable causes. and a half towards his doctorate at Chargers. Ranked 1014th among He and his wife Margo have estab- Columbia, he went to work for the the world’s billionaires by Forbes lished chairs and scholarships at GTE Corporation, which is now last year with an estimated net various universities and medical Verizon. By the time he was 24, he worth of $1.1 billion, where it has centers. In 2003, Northeastern was traveling to Paris, Geneva, Lon- been listed for the past several opened the Behrakis Health Sci- don and Hong Kong, and was run- years, it is safe to conservatively as- ence Center. He gave $8 million for ning GTE’s international division, sume his fortune had, in fact, in- that project, the largest private do- which operated in 62 different creased since 2004, and then nation in the University’s history. A countries, as the youngest senior dropped some since the sharp drop recipient of numerous awards for VP in the company’s history. Joint in the real estate market these past his contributions to business, sci- ventures in Argentina, Mexico, In- few months. FORBES currently lists ence, the arts and the Greek Ortho- dia and Japan sparked his interest A.G. Spanos Companies as the dox Church, he has served on the in the acquisition business. The 403rd largest privately held firm in boards of Northeastern University, first acquisition was a company the country, with estimated rev- Tufts University Medical School, based in Italy and Belgium which enues of $1.13 billion. The son of the Boston Symphony Orchestra manufactured space heaters and Greek immigrants, Mr. Spanos re- and the Boston Museum of Fine air conditioners for $72 million. ceived his bachelor’s degree at Pa- Arts. He also serves as a trustee of One day, as he was flying back to cific Lutheran University. He began Brigham and Women’s Hospitals. the United States for a Greek wed- his career as a baker, but when his But perhaps no institution has re- ding, he happened to be sitting business nearly went bankrupt, he ceived as much from Mr. Behrakis next to a Honeywell executive in opted for a change in direction. In as the Boston MFA. His relationship “BYZANTINO”- Spiritual Art charge of that company’s joint ven- 1951, he used an $800 loan to pur- with the Museum dates back to his tures in Europe, and offered his chase a small trucking company, high school days, when his uncle, 355 Cambridge Street - Cambridge, MA 02141 company’s services to Honeywell. which he turned into a successful John Zaroulis, took him to see the The executive agreed to give Mr. enterprise. He then used his profits galleries. Later, when he ran a suc- 617.868.0144 ñ [email protected] Metropoulos’ company a trial run, to invest in real estate, and by 1960, cession of companies, Mr. Behrakis so Mr. Metropoulos didn’t even go he had an incorporated business. would host parties at the Museum. to the wedding. As soon as he got He became a member in 1989, a off the plane, he flew right back to patron in 1996, and an overseer in get the Honey well executive’s or- 1998. Then, one day in 2001, Mr. der, and had to apologize to the Behrakis showed up for lunch with bride and groom for not being able MFA Director Malcolm Rogers and to make their wedding. C. Dean handed him a sealed envelope. In- Metropoulos & Co. has grown con- side was a check for $2 million to siderably since then, and the deals endow Christine Kondoleon’s posi- Get informed now range in the billions. The com- tion as curator of Greek & Roman pany has been involved in more Art. In 2006, he gave the Museum than 45 acquisitions involving over another $10 million, and became the biggest identified contributor www.thenationalherald.com yet to the MFA’s planned $500 mil- lion expansion campaign. That gift brought the total he has given to $25 million over the last five years. Mr. Behrakis is a member of the Archdiocesan Council’s Executive Committee, and is an Archon of the Ecumenical Patriarchate. He is also publisher of the Hellenic Voice. He Today, his firm is one of America’s has four children and eight grand- largest housing developers, and is children. the largest family-owned construc- tion and property management company in the United States. It 12. PETER NICHOLAS builds, manages and sells multi- $800 MILLION family housing units and develops BIOMEDICAL INDUSTRY land. It has built more than 80,000 units in 18 states, and claims to be Ranked 1014th by Forbes containing market downturn be- among the world’s billionaires last cause it is not as nationally exposed year, with an estimated net worth as other builders. Mr. Spanos was of $1.1 billion, things have changed inducted into the California Build- pretty dramatically for Mr. ing Industry Hall of Fame in 2005. Nicholas, 67, in the last few years. He bought 60 percent of the Charg- In 2005 he was ranked #78 among ers from then-majority owner Eu- the FORBES 400, with an estimat- gene Klein in 1984. Over the next ed net worth of $4 billion. He is not ten years, he bought out the shares on the current list, the cutoff point Is Manhattan Real Estate of several small co-owners, bringing of which is now $1.3 billion, and his control of the team to 97 per- his fortune continues to dwindle cent. His son Dean now manages amid bad publicity and legal woes. the team. Mr. Spanos has consis- In May of 2008, a federal jury ruled Part of Your Portfolio? tently been the largest single pri- in favor of rival Medtronic in a vate contributor to the Republican National Party during Presidential election years, and has been a staunch supporter of President Bush. He helped raise over $2 mil- lion for Senator John McCain’s 2008 Presidential bid, and con- tributed $5 million to 527 groups which supported the Bush Cam- paign in 2004. President Bush ap- pointed Mr. Spanos to the Kennedy Center board in 2004. Mr. Spanos has also contributed millions to schools, hospitals and charity. Though the San Diego Union-Tri- Call me for a private consultation bune recently reported that Mr. Spanos now suffers from a fading memory, he remains in good health. regarding our city’s best values He is still an early riser (up by 5:30 AM almost every morning); still hits the gym; and still goes to the office in prime locations each morning. But he lets his kids patent infringement suit, and run the business these days, and Boston Scientific, the biomedical said he likes to play cards with his giant Mr. Nicholas co-founded with friends. “What the heck. I’m 85 John Abele, was ordered to pay $19 years old, and my kids are doing a million in damages (they are ap- good job. It’s their turn now,” he pealing the ruling). Mr. Nicholas YURY HOLOHAN HERRERA PARI DROUZAS told the National Herald. He has and Mr. Abele, who rarely sold any maintained strong ties to the Bush of their stock over the decades, Associate Broker President family; plays golf with William Bar- were sitting on shares worth nearly Managing Director Mortgage Consultant ron Hilton; and was good friends $9.9 billion between them, but the Coldwell Banker Park West Funding Corp. with the late Bob Hope. He has been Boston Scientific founders own Previews International married to his wife Faye for almost many fewer shares worth much less 50 years. They have four children today. Their current company stock 237 First Avenue, 601 and 15 grandchildren. holdings are worth only about 555 Madison Avenue, Suite 13 New York, NY 10003 $550 million. That’s a long way New York, New York 10022 212 982.4370 down. The two men, who were Direct: 646 442.7276 [email protected] 11. GEORGE D. BEHRAKIS among the very richest people in $900 MILLION Massachusetts five years ago, have Mobile: 917 385.5576 PHARMACEUTICALS seen the value of their company [email protected] stock holdings dissipate at a pace Mr. Behrakis, 75, is chairman of rivaled only by those of the dot- Gainesborough Investments, a Lex- com era’s bubble billionaires, who THE NATIONAL HERALD, MARCH 14, 2009 Wealthiest Greek Americans 2009 13 rarely had substantial businesses AOL into the first $1 billion interac- Medal of Honor (2000) and the the Cleveland Clinic’s mission. Dur- like Boston Scientific behind their tive services company and the Woodrow Wilson International ing the event, the Clinic conferred inflated fortunes. Boston Scientific world’s biggest media company, Center Award for Corporate Citi- its highest philanthropic honor, the shares have plunged from about helping to increase its membership zenship (2007). He is the first Distinguished Fellow Award, upon $45 apiece to less than $7 each from fewer than 800,000 to more Iowan and the second Greek Amer- Mr. & Mrs. Payiavlas. Mr. Payiavlas over the last five years. Even worse, than 8 million in a four-year span ican (Pete Peterson was the first) to traces his origins to the island of the founders have been caught in a (1994-97). He has also boosted the receive the Woodrow Wilson Rhodes. He loves the Church, hav- financial squeeze which forced the Capitals’ attendance and revenues Award. Iowa Governor Chet Culver ing served as chairman of the Arch- liquidation of about half their stock through state-of-the-art consumer proclaimed March 2, 2007 “John bishop Iakovos Leadership 100 En- at distressed prices in recent and interactive initiatives. Mr. Pappajohn Entrepreneurial Day” in dowment Fund, and is an Archon of months. The founders had already Leonsis was born to a family of Iowa. Mr. Pappajohn is an avid art the Ecumenical Patriarchate. stepped down from Boston Scien- modest means in Brooklyn, and collector, and is the recipient of sev- tific’s daily management in 2004, spent his early years there. His fam- eral honorary doctorates. but Boston Scientific’s $27 billion ily moved back to his mother’s 17. EFSTATHIOS acquisition of Guidant Corp in hometown of Lowell, Massachu- 16. JOHN PAYIAVLAS (STEVE) VALIOTIS 2006 dealt a serious blow to the setts. He graduated from Lowell $650 MILLION $600 MILLION stock. The company outbid John- High School in 1973 and attended FOOD INDUSTRY REAL ESTATE son & Johnson in a wild corporate Georgetown University. After grad- contest, and ended up losing by uating in 1977, he moved back to Mr. Payiavlas is president of AVI Mr. Valiotis, 62, is president and winning. Mr. Nicholas himself was his parents’ home in Lowell and be- Foodsystems, the country’s largest founder of the Astoria-based ALMA among the deal’s most aggressive Artemis’ apprentice for four years, gan working for Wang Laborato- independent, family-owned and - Realty Corporation, one of the of Marathon. He earned his degree advocates. Proponents saw a big grinding pigments and mixing ries. In 1980, Mr. Leonsis started operated contract food service largest real estate firms in the New in Philosophy at the University of new business base for Boston Sci- paints, learning about technique his own company, which grew York metropolitan area. He was Athens, and had also studied The- entific. What the company got in- and studying composition. While quickly, and sold it to International born was born in Vordonia, Greece ology. He is married with three chil- stead was $10 billion of debt. It al- studying with Mr. Artemis, Mr. An- Thompson for $60 million in 1981. near Sparta, and immigrated to the dren. so got saddled with thousands of dreas also discovered the paintings He then started Redgate, which he United States in 1972. He worked safety recalls tied to Guidant’s de- of Constantine Parthenes, a pro- sold to AOL in 1993, commencing in the food industry and estab- fibrillators. And investors sold gressive artist who spurned tradi- his relationship with AOL, holding lished a custom-made furniture 18. ANGELO K. TSAKOPOULOS Boston Scientific shares which kept tion. Parthenes’ works helped Mr. numerous positions during his business, Knossos Inc., in Astoria in $600 MILLION falling. The crisis, which struck fi- Andreas further expand his own years there, completing his tenure 1976. Within two years, the busi- REAL ESTATE nancial markets last summer and original thoughts and creative as the audience group’s president ness expanded to include a show- fall and clobbered most stocks, hit ideas. In 1967, a tyrannical regime and vice chairman before stepping room on Manhattan’s Park Avenue Mr. Tsakopoulos, 72, was born Boston Scientific shares, too. led by Col. George Papadopoulos down in 2006 to pursue other inter- and a furniture-manufacturing fac- to a farming family in the village of Worse, both Mr. Nicholas and Mr. seized power in Greece, and Mr. ests. Once the mayor of Orchid, tory in Queens. Mr. Valiotis contin- Rizes. His father, a butcher, strug- Abele had big loan problems. Col- Andreas, by now a distinguished Florida, Mr. Leonsis sits on the ued to own and actively manage gled to feed five children. He first lateral which backed their borrow- military officer, immigrated to New boards of Georgetown University Knossos until 1994. He began ven- came to the United States in August ings was losing value, and they York. Since then, he has divided his and several charities, where he has turing into real estate in 1978. His 1951, sailing past the Statue of Lib- needed to make up the difference. time between his studios in Vir- used the interactive medium to en- highly successful real estate trans- erty on his 15th birthday. As a col- Both men had assets on account at ginia, Florida and New York City. courage involvement, in addition actions include the purchase, sale, lege student at Sacramento State Lehman Brothers, but they were Mr. Andreas has established several to financial contributions. Among construction and management of University, he waited tables at night frozen in the brokerage’s bankrupt- policies for himself regarding his his favorite charities are the See both residential and commercial in the Tony Del Prado restaurant cy proceedings. So the lenders sold art and his dealings with the art Forever Foundation and Youth properties. Mr. Valiotis, along with and sold real estate on weekends. Mr. Nicholas and Mr. Abele’s world: He has intentionally not AIDS. He also sponsors his own three associates, founded ASCOT He would eventually leave Sac Boston Scientific stock to raise the sold an original piece since 1993. philanthropic foundation, the company, providing vending, insti- Management Corporation in 1985. State a few credits shy of gradua- money. It started last October and His Monographia project, his Seri- Leonsis Foundation, which is dedi- tutional dining and coffee service ASCOT managed all of his real es- tion to work full time. At 21 years hasn’t stopped. Mr. Nicholas and graphs and his “Works on Paper” cated to creating “opportunities for operations. Founded in 1960, AVI tate holdings for the next three of age, he had already stockpiled Mr. Abele combined have sold are available for purchase. Mr. An- currently employs thousands; years. He founded ALMA in 1988. more than 64 million Boston Scien- dreas is currently working on sever- serves millions of consumers daily; ALMA serves as the vessel through tific shares in involuntary transac- al significant new projects, to in- and serves some of the most presti- which Mr. Valiotis develops, builds, tions, raising about $500 million. clude one consisting of at least ten gious institutions in America, in- manages and acquires real estate. Mr. Nicholas has seen more than paintings. This body of work will be cluding industry, corporate head- ALMA maintains a management half his company stock sold (over a reflection of a social criticism of quarters complexes, universities, portfolio consisting of approxi- $300 million worth). Mr. Abele, the Anarchist movement over time. school systems and healthcare fa- mately 6,000 units and more than who has sold more than 23 million The series is almost complete. Art is cilities throughout the Midwestern 1.2 million square feet of commer- shares since October, had 31.6 mil- not the only component of his for- and Eastern United States – cial retail and office space. The lion shares left after the most re- tune. Among several other business Carnegie Mellon University, East- management department includes cent transaction ($181.1 million). ventures, he has substantial real es- man Kodak, Good Year, Honda of 21 property managers (at various Mr. Nicholas and Mr. Abele haven’t tate assets, and also owned and op- America Manufacturing, Kmart, locations), three in-house attor- explained what triggered the all the erated a very successful car dealer- Kraft Foods, Ohio State University, neys, five accountants, and 12 staff sales, and probably won’t, but exec- ship, employing hundreds, which Phillips, Toyota Motor Manufactur- members. Mr. Valiotis also estab- utives with large holdings of com- was ranked the second most prof- ing, University of Pittsburgh Med- lished his construction company, pany stock do often borrow against itable dealership in the country. Mr. ical Center, UPS, the U.S. Postal Vordonia Construction Corpora- the shares. The loans give them ac- Andreas’ wife Ursula is also an ac- Service, Toyota Motor Manufactur- tion, in 1988. Vordonia Construc- cess to cash without stock sales complished artist. He has one son, ing, Verizon and Xerox among tion presently serves as the general which would diminish their compa- Christopher. them. Intensely private, Mr. Payi- contractor for the majority of Mr. ny holdings and trigger expensive avlas runs the company along with Valiotis’ projects. Vordonia Con- tax bills. On the bright side, Mr. his son Anthony and his daughter struction is a subsidiary of ALMA, Nicholas and Mr. Abele, who is still 14. TED J. LEONSIS children that enable them to reach Patrice. Based in Warren, Ohio AVI and is manned by over 100 employ- experiences likely unfathomable to ranked among the FORBES 400 at $700 MILLION their highest potential.” Mr. Leonsis has more than 50 branch offices in ees. Vordonia is currently manag- many of his fellow undergraduates: #321 with $1.5 billion, still have COMPUTERS, MARKETING, has gotten involved in documen- the Midwestern and Eastern United ing $200 million and 2 million war, deprivation, emigration and ample fortunes and own lots of PROFESSIONAL SPORTS tary filmmaking through producing States, and makes $2 billion in square feet of works in progress. In stints as both a shoeshine boy in Boston Scientific stock, and the “Nanking,” which made its world sales annually. Mr. Payiavlas and 1989, Mr. Valiotis, along with sev- Chicago and a farmhand in Lodi. company acquired heart-device Mr. Leonsis, 52, is vice chairman premiere at the 2007 Sundance his wife Marissa were honored dur- eral other investors, formed And he had begun laying the maker CryoCor last May for $17.6 emeritus of America Online. Mr. Film Festival, after reading “The ing Cleveland’s annual 1921 Soci- Marathon National Bank. Mr. Valio- groundwork for his future, ar- million despite lawsuits to block Leonsis is also the founder, chair- Rape of Nanking” by the late Iris ety Dinner, held on September 14, tis served on the bank’s board of di- guably becoming the most signifi- the deal. Mr. Nicholas earned his man and majority owner of Lincoln Chang. His latest film, “Kicking It,” 2006 at Severance Hall. The din- rectors for eight years. Marathon cant force to shape Sacramento bachelor’s degree at Duke Universi- Holdings LLC, a sports and enter- which explores how the lives of six ner, attended by more than 300 was acquired by Piraeus National since John Sutter. He boxed in col- ty and his MBA at the University of tainment company which holds homeless people are changed for- people, honored friends who have Bank of Greece in 2001. Mr. Valio- Pennsylvania’s Wharton School. He ownership rights in several entities, ever through an international soc- given $1 million or more to support tis remains a 5 percent shareholder Continued on page 14 met Mr. Abele at a kids’ soccer including 100 percent of the Na- cer competition, was released last game. The pair co-founded Boston tional Hockey League’s Washington year. He refers to his filmmaking Scientific in 1979. Mr. Nicholas and Capitals and the WNBA’s Washing- endeavors as “filmanthropy,” which his wife Virginia made a series of ton Mystics. Lincoln Holdings also uses the medium of documentary large donations to mainly educa- owns approximately 44 percent of films as a matrix for social change. tional causes, including a stunning Washington Sports & Entertain- $72 million pledge to Duke Univer- ment Limited Partnership, which 15. JOHN PAPPAJOHN sity in 2003, the largest charitable owns the National Basketball Asso- $700 MILLION contribution in that institution’s ciation’s Washington Wizards, the VENTURE CAPITALISM history, and had headed up a $1 bil- Verizon Center and the Baltimore- lion pledge drive for Duke which Washington Ticketmaster fran- Mr. Pappajohn, 80, is president exceeded its goals. chise. After surviving an airplane of Equity Dynamics and Pappajohn crash landing in 1983, he drafted a Capital Resources, of which he is al- list of 101 things to do in life, and so sole proprietor. Equity Dynamics 13. GEORGE ANDREAS has completed many of the tasks, to is a financial consulting entity; Pap- $760 MILLION include owning a sports franchise. pajohn Capital Resources is a ven- ART, REAL ESTATE, Few people have roots as deep in ture capital firm. Mr. Pappajohn INVESTMENTS the computer industry, or as much first came from Greece to the Unit- knowledge and experience of its ed States when he was just 9 A painter and investor in real es- history and potential. A pioneer of months old. His father died when tate among other industries, Mr. the Internet and new media and ba- he was 16 years of age, and he had Andreas (Andriopoulos) was born sically present at its inception, Mr. in Athens was born in Athens in Leonsis he participated in launches 1938. Before studying at the Na- of the Apple MacIntosh, the IBM PC tional Military Academy in Athens and the Wang office automation. and the University of Thessaloniki, He has led four businesses which he was an apprentice to Greek have grown at record rates: He artist Constantine Artemis. In built Wang WP (the first word 1952, at the age of 14, he began his processor) from a $200 million to a studies with Mr. Artemis, a painter $1 billion company with the largest who specialized in portraits and female management team in the landscapes. At the time, Mr. country. He was founder & CEO of Artemis was restoring the interior Redgate Communications Corpora- of Saint Basil’s Church in central tion, considered the first new-me- Athens. Mr. Andreas worked as Mr. dia marketing company. He built

to work to pay his way through col- lege. He graduated from the Uni- versity of Iowa’s College of Busi- ness Administration in 1952. Throughout his career, he has es- tablished dozens of investment firms dedicated to advancing the biomedical and biotechnology in- dustries. Mr. Pappajohn is one of Iowa’s most successful entrepre- neurs. He and his wife Mary, with whom he has one daughter, have partnered in philanthropic endeav- ors which have provided millions for scholarships, business opportu- nities and community enhance- ments. His charitable donations in- clude the John & Mary Pappajohn Clinical Cancer Center, and Pappa- john Entrepreneurial Centers at five Iowa universities and colleges. In 2005 alone, the Pappajohn Scholarship Foundation distributed $366,500 in grants to support eth- nic, disadvantaged and/or minori- ty students. Included were scholar- ships to 32 college students, whose parents were members of Saint George Church in Des Moines, Iowa and the Transfiguration Church in Mason City, Iowa. He is the recipient of many prestigious awards, to include the Horatio Al- ger Award (1995), the Ellis Island 14 Wealthiest Greek Americans 2009 THE NATIONAL HERALD, MARCH 14, 2009

Continued from page 13 from 1999 to 2001, and served on cable television; college textbook the National Research Council publishing; book clubs; education- lege. His former boxing teammates Committee on Science & Technolo- al films; and newsletters. Prior to say the elements of his larger-than- gy for Countering Terrorism in co-founding VSS, Mr. Veronis co- life persona were present even in 2002. Much of his wealth came founded “Psychology Today,” one the days when he was studying from stock options at Merck, which of the most successful magazine business, philosophy and history was very profitable under his lead- launches of its time, which expand- under the Americanized surname ership. During his tenure there, ed its operations into textbooks, of Chicos, a name he later dropped Merck developed the cholesterol- book clubs and educational films. to reclaim his family name. Mr. lowering statins, mevacor and zo- He subsequently started Book Di- Tsakopoulos has since climbed to cor. Dr. Vagelos is sometimes called gest magazine, which grew to a cir- prominence through uncommon the father of pharmaco-philan- culation of 1 million under his di- business acumen and sheer tenaci- thropy for freely providing the drug rection. Earlier in his career, he was ty. He turns on the charm with mectizan to cure millions of president of Curtis Magazines, the politicians; plays hardball with en- Africans of river blindness. He uses publisher of “Ladies’ Home Jour- vironmental regulators; and pro- his wealth to fund full scholarships nal.” Mr. Veronis is a board member motes big ideas for the region. In for 100 Vagelos Scholars at his al- of the Metropolitan Opera, and a recent years, he’s offered to donate ma mater each year, and also sup- former trustee of Carnegie Hall. He farmland he controls in Placer ports an incentive program for stu- is a past director of the U.S. Cham- County for a private university, and dents at his old high school in Rah- ber of Commerce, the Magazine to help fund its construction by de- 1994. He joined the worldwide way, New Jersey. He is currently value of the company is between Publishers of America, Curtis Circu- ternational exchange. He is also veloping adjacent acreage. The uni- health products firm in 1975 as se- chairman of Regeneron Pharma- $75 million and $1 billion. “To lation Company and WRGB-TV, the noted for his and Joseph Keenan’s versity project would spur a penin- nior vice president of research, and ceuticals and Theravance, two date, VSS equity and structured CBS affiliate in Schenectady. Mr. famous textbook, “Principles of sula of growth amid thousands became president of its research di- biotech companies developing capital funds have invested in more Veronis received his bachelor’s de- General Thermodynamics.” In more acres of farmland held by Mr. vision in 1976; starting in January drugs to treat cancer, bacterial in- than 50 platform companies, which gree from Lafayette College, and 1996, Dr. Hatsopoulos won the Tsakopoulos and his partners. He 1982, he served as senior vice pres- fections, respiratory disease and have together completed over 220 attended the New York University John Fritz Medal, the highest has proposed that the region open ident of strategic planning of Mer- autoimmune, eye and gastrointesti- add-on acquisitions resulting in a Graduate School of Business. American award in the engineering thousands of acres of ranchland he ck. He continued to hold both posi- nal disorders. He is also chairman portfolio with realized and unreal- profession. In 2007, he was one of controls along the Sacramento-El tions until 1984, when he was of Columbia University Medical ized enterprise values of more than the nine prominent Greek Ameri- Dorado County line for develop- elected executive vice president. Center’s Board of Visitors, and is $10.2 billion,” according to infor- 21. GEORGE N. cans who were selected by Presi- ment, using some of those proceeds Before assuming broader responsi- chairing the Center’s capital cam- mation posted on VSS’s website HATSOPOULOS, PH.D dent Carolos Papoulias to be hon- to fund a new arena for the NBA’s bilities of business leadership, Dr. paign, which has already met its (www.vss.com), down from the “in $450 MILLION ored with the Hellenic Republic’s Sacramento Kings. He also grows Vagelos had won scientific recogni- target of $1 billion by 2011. Dr. excess of $14 billion” it posted last TECHNOLOGY prestigious Commander of the Or- wine grapes on his Borden Ranch in tion as an authority on lipids and Vagelos is married to the former Di- year at this time. VSS is well known der of Honor award. At 81 years of southern Sacramento County, and enzymes, and as a research manag- ana Touliatos. They live in New Jer- for its expertise in the Media indus- Dr. Hatsopoulos wanted to age, Dr. Hatsopoulos is still going walnuts at an orchard outside er. This followed a decision early in sey, and have four children and sev- try, and is viewed as a value-added change the way the world makes strong. He is now chairman of Wheatland. Development has be- his career to put his principal ener- en grandchildren. investor more akin to a strategic electricity. On the road to failure, American DG Energy Inc., the lead- come a family business. Mr. gies into research, rather than the partner than solely a financial in- he founded Thermo Electron in ing on-site utility offering electrici- Tsakopoulos’ older brother George, practice of medicine. Dr. Vagelos vestor. The firm has become a 1956 because he wanted to create a ty, heat, hot water and cooling to 80, followed him to Sacramento, earned his bachelor’s degree in 20. JOHN J. VERONIS prominent source of authoritative company which would foster inno- commercial, institutional and in- and also went into real estate. 1950 from the University of Penn- $490 MILLION media and communications data. vation and allow outstanding engi- dustrial customers. He founded the George’s family controls thousands sylvania, where he was elected to MEDIA, INVESTMENTS Every year since 1987, it has pub- neers, scientists and entrepreneurs company with his brother, John, of acres in the region. The patri- Phi Beta Kappa, the academic hon- lished the highly acclaimed Com- to apply technology to emerging with whom he co-founded Thermo archs maintain separate opera- or society. He received his M.D. Mr. Veronis is co-founder, man- munications Industry Forecast, societal needs. Thermo Electron Electron. tions, but sometimes invest togeth- from Columbia University in 1954, aging partner, chairman & co-CEO which relates five-year historical grew into an international compa- er. Angelo is founder of AKT Devel- and was elected to Alpha Omega of New York-based Veronis Suhler and five-year forward forecasting ny recognized as a global leader in opment Corporation, which con- Alpha, the medical honor society. Stevenson, a private equity firm with the key market forces driving environmental monitoring and 22. PETER G. ANGELOS trols about 40,000 acres of land in After an internship and residency whose investments are exclusively industry growth. Last year at this analysis instruments, and a major $425 MILLION the region and neighboring San at Massachusetts General Hospital concentrated in the media industry, time, VSS projected that overall producer of paper-recycling equip- LAW, PROFESSIONAL BASEBALL Joaquin County. He has also carved in Boston (1954-56), he joined the and a senior managing member of communications spending would ment, biomedical products, alter- out a niche for himself as a major National Institutes of Health in the general partner of the firm’s exceed $1 trillion in 2008, and said native-energy systems and other Mr. Angelos, 79, is an American player in and fundraiser for the De- Bethesda, Maryland. At NIH (1956- fund. Founded in 1981 by Mr. Vero- Internet advertising is expected to products and services related to en- trial lawyer and the current chair- mocratic Party, and as a standard 66), he served in the National nis and John S. Suhler, VSS is a pri- become the largest ad segment by vironmental quality, health and man & CEO of Major League Base- bearer for Greek political and cul- Heart Institute, holding positions in vate equity and mezzanine capital 2011, surpassing newspapers. The safety. By 1981, it was ranked ball’s Baltimore Orioles. He became tural interests in America. The de- cellular physiology and biochem- investment firm dedicated to serv- company has since revised its fore- 739th among Fortune’s 1,000 owner of the Orioles in August veloper and his children have istry – first as Senior Surgeon, and ing the media, communications, cast, predicting dramatic declines largest industrial firms. By the time 1993, leading a group of investors raised and contributed millions on then as head of section of Compara- education and information indus- in traditional advertising spending, it merged with Fisher Scientific in in purchasing the team for $173 national, state and local cam- tive Biochemistry. In 1966, Dr. tries in North America and Europe. and noting that 2009 will mark the November 2006, Thermo Electron million, a record price at the time. paigns, as well as on ballot mea- Vagelos joined the Washington Uni- VSS provides capital for buyouts, first two-year decline in traditional was seeing annual revenues of over Mr. Angelos’ group, which included sures and political action commit- versity in St. Louis School of Medi- recapitalizations, growth financing media spending (newspapers and $2 billion, and employed 11,000 tees, over the past decade. Democ- cine as chairman of its Biological and strategic acquisitions to middle broadcast television) in 75 years. people in 30 countries. Dr. Hat- ratic Presidential candidates aside, Chemistry Department. The author market companies and manage- Mr. Veronis’ own involvement in sopoulous’ work led to rapid ad- a few of the major recipients in- of two books and more than 100 ment teams with a goal of building media spans over four decades, and vances in thermo-ionic power con- clude former Governor Gray Davis, scientific papers, he was elected to companies both organically and reflects a rare combination of cor- version. His training began in his State Senate President Pro Tem the American Academy of Arts & through a focused add-on acquisi- porate and entrepreneurial suc- native Greece at the National Poly- Don Perata, State Insurance Com- Sciences and the National Academy tion program. Since 1987, VSS has cess. He has founded, owned, oper- technic Institute in Athens. He con- missioner John Garamendi, U.S. of Sciences in 1972, and to the managed five private equity funds ated, served on the boards and/or tinued his studies at MIT, where he Senators Dianne Feinstein and Bar- American Philosophical Society in with committed capital exceeding served as an executive across a received his bachelor’s (1949), bara Boxer, and House Speaker 1993. After retiring from Merck, $2.8 billion. VSS generally invests broad spectrum of media, includ- master’s (1950) and doctorate Nancy Pelosi. Mr. Tsakopoulos is al- Dr. Vagelos was chairman of the as a majority equity investor in ing magazine and book publishing; (1956), all in Mechanical Engineer- so dedicated to advancing the ca- University of Pennsylvania’s Board transactions where the enterprise radio and television broadcasting; ing. In addition to his work at Ther- reers of Greek American politi- of Trustees from October 1994 to mo Electron, Dr. Hatsopoulos has cians. He hired a young Sacramen- June 1999, having served as a testified at numerous congressional to resident named Phil Angelides; trustee since 1988. He was also hearings on national energy policy mentored him in the development president & CEO of the Ameri- and capital formation, and has business; and later became his pri- can School of Classical served on many national commit- mary political patron. Mr. An- Studies in Athens tees on energy conservation, en- gelides was California’s state trea- vironmental protection surer for eight years, but lost his and in- gubernatorial bid to Arnold Schwarzenegger in 2006. Mr. prominent Marylanders like novel- Tsakopoulos counts some of the ist Tom Clancy, comic book mogul most influential leaders in both the Stephen A. Geppi, producer and di- United States and Greece among rector Barry Levinson and broad- his friends. His family has hosted caster Jim McKay, among others, fundraisers for Bill and Hillary Clin- bought the team from Eli S. Jacobs ton, and he was invited to sleep in by submitting the winning bid dur- the Lincoln Bedroom at the White ing a bankruptcy auction. Accord- House when Mr. Clinton was Presi- ing to the Baltimore Business Jour- dent. He also entertained Constan- nal, the Orioles were worth $398 tine Mitsotakis, the former prime million in April 2008. The Orioles minister of Greece, and his daugh- enjoyed some success early under ter Dora Bakoyanni, then mayor of Mr. Angelos’ ownership, making Athens (now the foreign minister of the postseason as a wild card team Greece), during their visit to Stan- in 1996 and winning the American ford University in the fall of 2006. League East Division title in 1997. Mr. Tsakopoulos and his family But Mr. Angelos fired Manager have established Hellenic Studies Davey Johnson after the 1997 sea- chairs at several major American son, and 11 straight losing seasons universities across the country, ensued. The team went through Georgetown, Stanford and Colum- five different managers during that bia among them. period. But things are definitely looking up for 2009. The Orioles just signed star Outfielder Nick 19. P. ROY VAGELOS, M.D. Markakis and star 2nd Baseman $500 MILLION Brian Roberts to $66 million and PHARMACEUTICALS AND $40 million contracts this winter, HEALTHCARE respectively, and are rebuilding the team around their formidable tal- Dr. Vagelos, 79, served as CEO ent. Mr. Angelos was born in Pitts- of Merck & Co., the pharmaceuti- burgh on July 4, 1929. He came to cals giant, for nine years from July Baltimore at 11 years of age. He is a 1985 to June 1994. He was first graduate of Eastern College and elected to the Board of Directors in the University of Baltimore School 1984, and served as its chairman of Law, where he was class valedic- from April 1986 to November torian, and went onto a lucrative

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tion of making money for his in- tem in 1981-89, and has helped se- vestors, it was a deal with AT&T in lect several SFSU presidents. He the 1990’s which attracted in- was named SFSU Alumnus of the vestors. In exchange for a small eq- year in 1989 and one of its 11 Dis- uity stake, AT&T gave Triton licens- tinguished Centennial Alumni in es covering 11 million people in ar- 1999. Mr. Marcus has long support- eas contiguous with AT&T’s territo- ed SFSU and its programs. He and ries in the Southeast. Mr. Kalogris his wife Judy helped create its In- earned his MBA at Columbia Uni- ternational Center for the Arts with versity Business School in 1982. Af- a $3 million gift. The Center cele- ter working at IBM for a spell, he brates some of the world’s most in- entered the telecommunications novative art and artists, with a fo- business by taking a job with a cus on documentary films and visu- Philadelphia-based outfit called al art. Mr. Marcus also helped de- Metrophone, helping to build velop SFSU’s Greek Studies pro- to $326.1 million Metrophone into a $1.1 billion cel- gram, and chairs its Modern Greek for the year ended lular company in Philadelphia and Studies Foundation, which sup- December 31, 2008 its suburbs before its owners sold ports the Nikos Kazantzakis Chair compared to $255 mil- Metrophone to Comcast in 1991. for Modern Greek Studies. He is al- acquit- lion for the prior year (expenses Mr. Kalogris had no equity in so a graduate of the Harvard Busi- ted. “It were $54.4 million and $38.1 mil- Metrophone, so he left to build fices nationwide, the firm focuses ness School’s Owners/Presidents was a lion in 2007 and 2008, respective- Horizon to operate mostly in subur- on investment brokerage, and pro- Management Program and the complex ly). Genco did not fare as well, ban Pennsylvania and Washington, vides financing and research ser- Georgetown University Leadership issue, but we recording a net loss of $111.3 mil- D.C. Five years later, Horizon was vices to both buyers and sellers. To- Program. Among Mr. Marcus’ pro- got through it. lion for the fourth quarter of 2008, sold in a series of deals for the $575 gether with his partner, William A. fessional memberships are the ca- And if you held on- due to a $159.7 loss “from unusual million, but Mr. Kalogris and his Millichap, Mr. Marcus launched a Board of Regents of the University reer in trial law, to your Chambers stock events,” although its revenues actu- fellow managers got to share just new business model 38 years ago, of California, the Real Estate specializing in cases involving and bet on the Rangoses, you ally increased 55 percent to $101.6 $10 million of that among them. based on matching each property Roundtable and the Policy Advisory harmful products, professional bought the stock for a dollar, and million for the three months ended This only made him determined to with the largest pool of pre-quali- Board of the University of Califor- malpractice, and personal injury. after the merger, it went up to $50. December 31, 2008 – versus $65.7 get more of the action, so he found fied investors. Last year, Marcus & nia in Berkeley’s Center for Real Es- His firm, the Law Offices of Peter G. That doesn’t happen because of an million for the three months ended backers in J.P. Morgan, Chase Capi- Millichap closed more than 4,000 tate & Urban Economics. Angelos, has attorneys and loca- accident. Chambers was a big part December 31, 2007 – due to the op- tal Partners and Desai Capital Man- investment transactions for private tions in Maryland, Delaware and of USA Waste,” he told the National eration of a larger fleet and higher agement to give him 10 percent of and institutional investors. Includ- Pennsylvania. Mr. Angelos began Herald. In recent years, Mr. Rangos charter rates for our vessels. So Mr. Triton as compensation for running ed in these transactions were shop- 27. D. JAMES BIDZOS working as a criminal defense has managed to remove the stain Georgiopoulos’ net worth probably the deal. The money flowed in: ping centers, office and industrial $350 MILLION lawyer following graduation. For which unjustly tarnished his good has not changed much from last Even before the bonds were placed, buildings, apartment properties, COMPUTER TECHNOLOGY most of his legal career, he made a year, and while he ended up in a Mr. Kalogris got a $425 million hotels/motels, senior citizens living as an attorney representing historically traditional position as a bank revolver loan and $140 mil- homes, manufactured home com- Mr. Bidzos, 64, is founder, chair- Baltimore labor unions and their Greek shipping magnate, he told lion in equity commitments. That munities, and land. “By closing man and interim CEO of VeriSign, members through his own private the New York Times in an April and junk bond proceeds built his more transactions annually than the world’s leading provider of In- practice, which he founded in 2007 interview, “I never thought of system, and he has since never any other firm, its investment pro- ternet and telecommunications se- 1961. Beginning in the 1980’s, he myself as Greek. My family has looked back. Mr. Kalogris has con- fessionals have been able to pro- curity software, securing billions of refashioned his firm’s focus from been in the United States since the sistently distinguished himself as a vide clients with an unparalleled online transactions every day. Born criminal law to civil class action 1800’s; I’ve got blond hair and blue leader in the highly competitive perspective on the investment real in Greece, he came to the United suits. His law firm and wealth ex- eyes; and like most American kids, I wireless industry, and is a former estate market locally, regionally States as a boy. His father worked panded exponentially in 1982, liked only plain foods like ham- board member of the Cellular and nationally,” according to infor- as a barber, and his mother man- when he represented a large num- burgers and steak.” Mr. Geor- Telecommunications & Internet As- mation on its website (www.mar- aged a restaurant. A former com- ber of plaintiffs in asbestos litiga- giopoulos is a graduate of Bronx sociation (CTIA), which he had also cusmillichap.com). Mr. Marcus is tion and won. He reportedly made Science and Fordham University. served as its chairman. also chairman of Essex Property over $100 million on this one case. His father was a successful mar- Trust, a publicly held, multi-family Mr. Angelos was also enormously itime lawyer, and many of his real estate investment trust (REIT). successful in suing Wyeth, the mak- clients were wealthy Greek ship- 24. GEORGE M. MARCUS Located in Palo Alto, California and ers of the diet pill fen-phen, and ping tycoons whose lifestyles ap- $400 MILLION traded on the New York Stock Ex- representing the state of Maryland pealed to the young Peter, and REAL ESTATE change, Essex is a fully integrated as lead attorney in a lawsuit against when he graduated from college, REIT which acquires, develops and cigarette maker Phillip Morris. He one of them offered him a job in Mr. Marcus, 66, is founder and redevelops apartment communities started out being owed more than Athens. After two years of working chairman of Marcus & Millichap in select West Coast communities. $1 billion in Maryland’s settlement name, concentrating his efforts on for someone else, he decided he Real Estate Investment Services, The company currently has owner- with the tobacco giant, though he philanthropy. He currently heads wanted to start his own shipping one of the country’s premier ship interests in 132 apartment ended up with $150 million. It was the John G. Rangos Sr. Charitable company, so he left Greece and providers of investment real estate communities and 26,862 units, and after that he became a major player Foundation, which has donated went to Dartmouth College, where brokerage services, and the parent has 1,256 units in various stages of in the Baltimore community. A life- millions to help advance medical he earned his MBA. When he grad- company of a diversified group of active development. Mr. Marcus is long Democrat, he won election to and scientific research at major in- uated in 1985, he took a job at real estate, service, investment and also one of the original founders the Baltimore City Council, and stitutions: Johns Hopkins, Carnegie Drexel Burnham Lambert. He did- development firms. It has estab- and directors of Plaza Commerce served on the Council from 1959 to Mellon and Duquesne Universities, n’t like investment banking, and lished itself as a leading real estate Bank and Greater Bay Bancorp, 1963. He ran for mayor as an inde- and the University of Pittsburgh still wanted to be his own boss, but firm with more than 1,300 brokers both publicly held financial institu- pendent in 1964, but lost. He also Medical Center. Mr. Rangos loves he made a lot of money, and met a in markets throughout the United tions. Mr. Marcus served on unsuccessfully challenged Republi- the Church, and is founding chair- lot of people. From 1990 to 1991, States. Its stated mission is to help Greater Bay’s board of directors un- can incumbents in the Maryland man and honorary lifetime presi- he was affiliated with Mallory clients “create and preserve wealth til it was sold to Wells-Fargo in puter programmer, he is credited State Legislature three times in the dent of International Orthodox Jones Lynch & Associates, an oil by providing the best real estate in- 2007 for $1.5 billion. He came to with foreseeing the need for online 1960’s. He has recently become in- Christian Charities. This weekend, tanker brokerage firm. From 1991 vestment sales, financing, research San Francisco from Greece at the security in the early 1990’s. Mr. volved in politics again, publicly he is being honored by the Ameri- to 1997, Mr. Georgiopoulos was the and advisory services available.” Its age of four. He completed his un- Bidzos is an Internet and security supporting the Republican incum- can Hellenic Institute at AHI’s 34th principal of Maritime Equity Man- foundation is the depth of its local dergraduate studies in Economics industry pioneer whose accom- bent, Bob Ehrlich, for governor of annual Hellenic Heritage Achieve- agement, a shipping and invest- market knowledge. “Our 38-year at San Francisco State University in plishments include building RSA Maryland and criticizing Democra- ment & National Public Service ment company which he founded history of maintaining investor re- just two and a half years, and Security, an Internet identity and tic candidate (now Governor) Mar- Awards Dinner for his philanthropy in 1991. It was a time when a lot of lationships in local markets enables founded the university’s first eco- access management solution tin J. O’Malley. Mr. Angelos has and business success. shipping partnerships had formed us to be the best information source nomics club. He also served as a provider, into the early standard- been instrumental in the creation in Norway to take advantage of tax and transaction service provider member of the Board of Trustees of of many local museums and attrac- laws. When Norway changed its tax nationally.” With more than 50 of- the California State University Sys- Continued on page 16 tions. He is married, and has two laws in the 1990’s, and partnership sons. He has given $1 million to his 24. PETER GEORGIOPOULOS shares plummeted over there, Mr. alma mater; has given millions to $400 MILLION Georgiopoulos convinced a group other worthy causes; and says he SHIPPING INDUSTRY of investors to buy some ships, and plans to give more. GMC was born in 1997. The com- Mr. Georgiopoulos, 47, is pany went public in 2001. By 2003, founder, chairman & CEO of Gener- it was the fourth largest tanker 22. JOHN G. RANGOS SR. al Maritime Corporation, operates company in the world. And that $425 MILLION crude oil tankers, mostly in the At- was when people started referring DR. JAMES H. DOUNDOULAKIS WASTE MANAGEMENT lantic Ocean, which includes ports to him as a Greek shipping tycoon. in the Caribbean, South and Cen- He is a member of the American Mr. Rangos, 81, founded the tral America, the United States, Bureau of Shipping, and lives in a D.M.D., M.S., F.A.C.D. Chambers Development Corpora- Western Africa, the Mediterranean, townhouse in Manhattan’s Green- tion, a company which provided Europe and the North Sea. The wich Village, which was featured in waste treatment services and de- group’s principal activity is provid- “Angels in America,” the 2003 Em- veloped commercial recycling pro- ing international seaborne crude my-winning mini-series on HBO. grams, and broke ground with spe- oil transportation services. Its fleet “I’m proud to be Greek. I got mar- cially lined, layered landfills to pro- consists of 21 wholly owned ves- ried two years ago, and my wife COSMETIC DENTAL REHABILITATION, PC tect ground water supplies. He is a sels, consisting of ten Aframax- converted to Greek Orthodox. I was decorated Veteran of the Korean class and 11 Suezmax-class vessels named after my grandfather, Peter War. His father was a restaurateur (75-110,000 and 110-150,000 Constantine, because that’s the 53 East 66th Street (between Park and Madison Ave.), New York, NY 10021 from Greece. He was born in Ohio, thousand metric tons, respective- Greek custom. And while I still like and was raised by his mother and ly). GMC’s customers include inter- plain foods best, I’ve learned to grandfather in Virginia. He made national oil companies such as like, and even to cook, Greek food, his fortune with the transportation Chevron, CITGO, Conoco Phillips, too. But I never forget that, if I had- (212) 517-3365 and disposal of industrial wastes. Exxon Mobil, Hess, Lukoil, and Sun n’t been brought up American, I He began his career with the Rock- International LTD. Mr. Georgiopou- might never have made it so big in well Manufacturing Company, a classic Greek career,” he said. www.cosmeticdentalny.com where he enjoyed the distinction of becoming the youngest general agent in company history. During 24. MICHAEL E. KALOGRIS the 1960’s, he formed several com- $400 MILLION Porcelain Laminates, panies and pioneered technological TELECOMMUNICATIONS advances in waste transportation Tooth Bleaching Implants and disposal. He founded Cham- Mr. Kalogris, 59, was chairman bers in 1971. Chambers went pub- & CEO of SunCom Wireless, a wire- lic and eventually merged with less carrier which had operated in USA Waste, the second largest the Southeastern United States a b waste management company in the since 1999, and in parts of the “Extreme Make Over” country. USA Waste Services later Caribbean since 2004. Founded in merged with Waste Management January 1999 as Triton PCS Hold- Inc., the country’s number-1 trash ings, Triton changed its name to Featured on ABC-TV's hauler. Mr. Rangos’ many innova- SunCom in 2005. Based in Berwyn, tive achievements include convert- Pennsylvania, SunCom went ing power plant boiler-ash into a through several deals with other "THE VIEW" useful component of cinder blocks major cellular carriers. Before it and anti-skid material for high- was finally acquired by T-Mobile starring ways. He was also instrumental in for $1.6 billion in cash and $800 inventing techniques for recycling los is also founder and chairman of million in assumed debt in Febru- bituminous byproducts and dispos- Genco Shipping & Trading LTD, a ary 2008, SunCom provided digital Barbara Walters! ing of sewage and sludge. He devel- company listed on the New York wireless communications services oped techniques for liquid industri- Stock Exchange, and chairman and to more than 1.1 million sub- Visit our website al waste disposal, and created a re- director of Aegean Marine Petrole- scribers in the markets with inter- source recovery system which con- um Network, also listed on NYSE. national, national and regional for video! verts waste-generated methane in- Genco Shipping transports dry car- calling plans and access to the to energy. But Mr. Rangos’ success go such as coal, as well as steel largest GSM network in the coun- was not without its share of products, through a fleet of some try. Mr. Kalogris has a long history headaches. In October 1991, 15-20 oceangoing dry bulk carriers. in the “buy it, build it, sell it” busi- Chambers Development owned Ninety percent of the global trade ness. In November 1999, he For information on cosmetic dental and operated 14 landfills, and had volume is carried by ships and facil- reached an agreement with Rural a market value of $1.7 billion, and itated by seaports, while oil and gas Cellular Corporation, which pur- options and implant tooth replacement, Mr. Rangos was listed among the found offshore remain critical chased portions of Triton’s assets read "THE PERFECT SMILE" FORBES 400 for the third consecu- sources of energy to power the for $1.24 billion in early 2000 (Ver- tive year. One year later, the bubble world economy. So the Wall Street izon eventually acquired Rural for http://dentsplyfc.com/Recommended_Reading/ burst. Chambers had disclosed it meltdown and global economic cri- $2.66 billion in cash and assumed Recommended_Reading.shtml, was changing its accounting meth- sis’ resultant credit crunch, slump- debt in August 2007). He also built ods and taking a $27 million after- ing trade and loss of consumer buy- out Triton’s network with Cingular published by the Hatherleigh Press tax charge. Widespread selling of ing power have, in turn, con- Wireless in 2004 before changing Chambers stock then prompted an tributed to a slowdown in maritime Triton’s name to SunCom and ulti- You can review the book by going to investigation by the Securities & financing, which has had an ad- mately selling SunCom to T-Mo- Exchange Commission and the verse impact on shipping and port bile. A stocky, graying zealot of the www.healthylivingbooks.com! American Stock Exchange. The liti- operations, as well as offshore oil wireless industry, he still lives out- gation lasted for several years. By and gas exploration and produc- side Philadelphia with his wife of Type "doundoulakis" in the author box! the time it was over, it was deter- tion. GMC has hung in there pretty 38 years (his high school sweet- mined that Mr. Rangos was not well, however, all things consid- heart), with whom he has two chil- guilty of any wrongdoing, and was ered. Its voyage revenues increased dren. Besides Mr. Kalogris’ reputa- 16 Wealthiest Greek Americans 2009 THE NATIONAL HERALD, MARCH 14, 2009

Continued from page 15 space and defense and high-tech dle-income retail stores, as well as industries (e.g., Alaska Airlines, at most department stores. Fossil bearer for authentication and en- Citibank, Delphi, Eastman Kodak, also branched into the sale of cryption, and launching VeriSign as Lockheed Martin, Microsoft, Pier 1, leather goods and other accessories a spin-off in 1995 to develop the Ryder, and Verizon). Acquired by in the 1990’s. Fossil’s desire to es- digital certificate infrastructure for Illinois Tool Works for $292 million tablish a Swiss presence led to the Internet commerce. VeriSign oper- in October 2006, the unit’s revenue purchase of Zodiac Watch in 2001 ates infrastructure services which was $67 million in 2007. Smart- to offer a higher-end brand. The enable and protect billions of inter- Disk, the maker of CrossFire USB, 2004 purchase of Michele Watch actions every day across the world’s FireWire and SOHO NAS desktop completed the cycle by offering a voice, video and data networks. hard drives, as well as portable high-end Swiss watch with design- The Mountainview, California- hard drives, warrants its products er flair. Fossil has also been very based company offers a variety of to be free of defects in material and successful with its own brands Internet and communications-re- workmanship under normal use (2007 sales were reportedly more lated services in its global affiliate and service for a period of 1 year than $1.4 billion), and this success network. VeriSign’s business con- from the date of purchase or 3 has led to companies coming to sists of two segments: the Internet years from the date of manufac- Fossil to create licensed watch Services Group and its Communi- ture, whichever occurs first. Mr. lines. The watch lines Fossil de- cations Services Group, which it Kampouris earned a master’s in signs, manufactures and distributes just sold to TNS for $230 million. Law from Oxford University, and a include Burberry, DKNY, Emporio $3 billion to defrauded investors, VeriSign reported a 3rd quarter went public before the economy degree in Ceramic Technology from ter the 1996-97 season. Mr. Kar- Armani, Columbia Sportswear, the largest such payment ever profit which beat Wall Street expec- soured. Affymax has dropped from North Staffordshire College of manos received the Lester Patrick Diesel, Michael Kors, Marc Jacobs made by a single company. From tations on the strength at its core $25 to $14 a share since 2006. Still, Technology. He currently serves on Trophy for outstanding service to and Adidas. Fossil also produces March 2008 to March 2009, Tyco businesses and said it was on track Dr. Galakatos “made out well with the board of Horizon Blue Cross hockey after the 1997-98 season. shares went from nearly $48 to to meet its full-year forecast, 2007 sale of Hypnion to Eli Lilly for Blue Shield of New Jersey, and is a The team went onto win the Stan- $19.40 a share, but the New York though its fourth-quarter revenue $315 million,” FORBES reports. trustee of the Hudson Institute, a ley Cup in 2006, and is worth a re- Times lists its market value at $9 fell short of market estimates, due Hypnion, where Dr. Galakatos was non-partisan policy research orga- ported $168 million today. Mr. Kar- billion. Prior to joining Tyco, Dr. to the impact of the slowing econo- also lead director, was engaged in nization dedicated to research and manos is remarried and resides in Stavropoulos was chairman, presi- my. “We’re less sensitive to the eco- the discovery and development of analysis which promotes global se- Michigan with his third wife, dent & CEO of Dow Chemical Com- nomic downturn, but we’re not im- therapeutic drugs to treat disorders curity, prosperity and freedom. He Danielle. He has three sons from pany, where his career spanned 39 mune to it,” Mr. Bidzos told of the central nervous system, par- has served on the boards of the Na- his first marriage, Peter III, Nick years. His career with Dow began Reuters. VeriSign had $650 million ticularly sleep and wake-alertness tional Endowment for Democracy, and Jason. His first wife, Barbara in Indianapolis with pharmaceuti- in cash and cash equivalents by the disorders and circadian rhythm ab- the U.S. Chamber of Commerce, Ann, died of breast cancer. He has cal research in 1967. While he was end of last year. From March 2008 normalities. Oxford University Council for the donated millions to cancer research with Dow, he held various positions to March 2009, its stock value fluc- School of Management Studies, in her memory, and the Barbara collectibles, some of which are in research, marketing and general tuated between $42 and $16 per and the Eisenhower Exchange Fel- Ann Karmanos Cancer Institute based on popular films or pop cul- management. He also served in a share, but the New York Times re- 27. EMMANUEL A. KAMPOURIS lowship. Mr. Kampouris is also the (formerly the Prentis Cancer Cen- ture characters. Previous designs variety of research and business po- ported its market capitalization at $350 MILLION publisher of Kairos, a journal which ter) is one of the country’s leading have included Superman, Batman, sitions in pharmaceuticals and di- $3.9 billion. And this past January, INDUSTRIAL GOODS seeks to embolden, educate and cancer centers, and the only major Wonder Woman, Elvis Presley, “Pi- agnostics. Dr. Stavropoulos was VeriSign agreed to acquire Cana- CORPORATE MANAGEMENT support pastors as they strive to re- cancer center named after a rates of the Caribbean,” Flash, named president of Dow USA in da’s Certicom Corp for $40 million, store the national moral conscience woman. Green Lantern, Snoopy, Pokemon, 1990, and was elected vice presi- after Blackberry maker Research in Mr. Kampouris, 73, served as and prophetic voice of the Church, “Star Wars,” “Chronicles of Nar- dent of Dow Chemical Company. Motion (RIM) withdrew its bid. Mr. chairman, president & CEO of the which he views as essential to the nia,” and Disney’s “Cars.” In 2006, He was then elected a senior vice Bidzos served as VeriSign’s first American Standard Companies reformation of culture. 31. KOSTA & TOM KARTSOTIS Fossil released a Caller ID watch, president of Dow in May 1991, and president and CEO. He also served (now known as Trane), the leading $325 MILLION and teamed up with the NFL to became chief operating officer in as chairman of its board of direc- global manufacturer operating in WATCHES AND make the official watch collection 1993. He served as CEO in 1995- tors from April 1995 until Decem- 34 countries, which was known as 30. PETER KARMANOS JR. LEATHER ACCESSORIES for each team. 2000 and again in 2002-04, and ber 2001, and as vice chairman Ideal Standard in Europe. Its prod- $340 MILLION was a member of Dow’s board of di- from December 2001 to July 2007. ucts included technologically ad- COMPUTER SOFTWARE, Kosta Kartsotis, 55, is president rectors from July 1990 to March He served as president and CEO of vanced air conditioning systems; PROFESSIONAL HOCKEY & CEO of Fossil Inc., and Tom Kart- 31. WILLIAM S. 2006 (he was succeeded by An- RSA Security from 1988 to Febru- bathroom and kitchen fixtures and sotis, 48, is chairman of the board. STAVROPOULOS, PH.D drew Liveris, a Greek Australian). ary 1999, and then served as RSA’s fittings; and vehicle control sys- Mr. Karmanos is the owner of Fossil is based in Richardson, Texas $325 MILLION Dr. Stavropoulos graduated from vice chairman from 1999 to May tems. Prior to joining American the National Hockey League’s Car- and operates factories in China, CORPORATE ADMINISTRATION Fordham University with a bache- 2002. He has been named one of Standard, Mr. Kampouris worked olina Hurricanes and CEO of Com- Switzerland and France. It sells lor’s in Pharmaceutical Chemistry, TIME magazine’s “Digital 50,” and in Greece and Egypt, and joined puware Corporation, a Detroit- products in more than 90 countries Dr. Stavropoulos, 69, is a direc- and from the University of Wash- is in CRN’s “Computer Industry American Standard’s Greek plumb- based software company with around the world, and is listed on tor at Tyco International Limited, a ington with a doctorate in Medici- Hall of Fame.” ing products subsidiary in 1966 as products aimed at the information FORBES “400 Best Big Compa- major multi-national group of man- nal Chemistry. He serves on the general manager of manufacturing. technology departments of large nies,” with $1.6 billion in sales and ufacturing and services providing board of the American Enterprise In 1999, he capped his 35-year ca- businesses. Compuware’s services a profit margin of 9.2 percent in companies active in healthcare, Institute for Public Policy Research, 27. NICHOLAS reer with American Standard by also include testing, development 2008. Its stock fell more than two flow control, security, telecommu- and is a trustee of the Fidelity GALAKATOS, PH.D leading the company to record and management software for pro- thirds in the past year, however, nications and electronics. He joined Group. Dr. Stavropoulos is also a $350 MILLION sales of $7.2 billion. It was listed as grams running on mainframe com- from a high of $38 to a low of $11 a Tyco in March 2007. Tyco is a di- director of the BellSouth and NCR BIOMEDICAL TECHNOLOGY a Fortune 500 company in 2004, puter and client-server systems. share between March of 2008 and versified manufacturing conglom- Corporations, and past chairman of with sales exceeding $9.5 billion. Compuware customers include 90 March of 2009. A stronger dollar al- erate incorporated in Bermuda, the American Chemistry Council, Dr. Galakatos, 50, is a newcom- The company divested all but the percent of the Fortune 100 compa- so hurt its 4th quarter last year with U.S. operations headquar- Society of Chemical Industry, and er FORBES “Midas List,” where he air conditioning aspect of its busi- nies, with more than 23,000 cus- (earnings dropped 13 percent com- tered in New Jersey. It employs American Plastics Council. He is a is currently ranked 24th out of 100 ness in 2007, and renamed itself. tomers around the world. As of pared to the previous year), and 250,000 people worldwide. member of the Notre Dame Univer- corporate executives. He has been March 2006, Compuware reported the company expects more of the Through mid-2007, its major busi- sity College of Arts & Sciences’ Ad- Managing Director of Clarus Ven- 7,510 employees in 84 offices same in the 1st quarter of 2009. ness areas included electronic com- visory Council and the J.P. Morgan tures since the Cambridge, Massa- across 60 countries worldwide. Founded by Tom Kartsotis in 1984, ponents, healthcare, fire safety, se- International Council, and is the re- chusetts-based firm’s inception in Compuware develops, markets and Fossil is a designer and manufac- curity and fluid control (no connec- cipient of many awards and hon- 2005. Clarus Ventures is a life sci- supports systems software products turer of clothing and accessories, tion with Tyco Toys, a division of ors. “Institutional Investor” maga- ences venture capital firm founded designed to improve the perfor- primarily watches and jewelry, but Mattel, or with Ty Inc., the manu- zine named him one of America’s by a team of “accomplished invest- mance of information technology also sunglasses and wallets. Its facturer of Beanie Babies). In May best CEO’s three times (1998, 2003 ment professionals with extensive organizations. The company also brands include Fossil, Relic, Aba- 2007, just two months after Dr. and 2004). Dr. Stavropouloos and and complementary industry back- provides professional services, cus, Michele Watch and Zodiac. Stavropoulos became a board his wife Linda have two children, grounds which have enabled them which include business systems Fossil watches are common in mid- member, Tyco agreed to pay almost Bill and Angela. to establish a long history of suc- analysis, design, communication, cess in creating value,” according programming and implementation, to its website (www.clarus as well as software conversion and 33. JAMES T. DEMETRIADES ventures.com), which also reports systems planning and consulting. $315 MILLION $1.2 billion of assets under its man- From March 2008 to March 2009, COMPUTER SOFTWARE agement “across two life sciences its stock value ranged from a high dedicated funds.” Dr. Galakatos has of $12 to a low of $5 a share, but Mr. Demetriades, 45, is the over 21 years of industry and in- the New York Times lists its market founder of SeeBeyond Technology vestment experience in the health- value at $1.4 billion, and Com- Corporation (formerly Software care sector. From 1997 to 2000, he puware acquired Hilgraeve Inc., a Technologies Corporation), a soft- was vice president of New Business Mr. Kampouris, now retired, has al- communications software compa- ware company which was sold to at Millennium Pharmaceuticals, a so served on the boards of Stanley ny, in February 2008. Born into a Sun Microsystems for $387 million leading biopharmaceuticals com- Works, Altocor Inc., Click Com- Greek immigrant family, Mr. Kar- in June 2005. Mr. Demetriades was pany purchased by the Takeda On- merce Inc., and the SmartDisk Cor- manos’ father owned a diner, raised in a family of scientists, and cology Company for $8.8 billion in poration. Stanley Works is, a manu- where he ran the cash register as a wrote his first software program at May 2008, and a member of its facturer of tools and hardware young boy. Mr. Karmanos did not the age of 9. A child prodigy, he be- management team. During that founded in 1843, reported over actually start speaking English until gan his scientific career at the Cali- time Dr. Galakatos co-founded Mil- $4.4 billion in sales in 2008, up 2 he was in grade school. He graduat- fornia Institute of Technology when lennium Predictive Medicine and percent from 2007. Alticor Inc., ed from Wayne State University he was just 11 years old, and is a TransForm Pharmaceuticals, where ranked 44th among America’s and founded Compuware in 1973 1980 graduate of the Webb School. he was chairman. Prior to his stint largest private companies, is the with two partners, Thomas Thewes He is one of the pioneers in EAI (en- at Millennium, he was an associate parent company of Amway, Quixtar and Allen Cutting. Mr. Karmanos terprise application integration) at Venrock Associates focusing on Inc., and Access Business Group. also co-founded the Detroit Com- technology. Mr. Demetriades was early stage biotechnology invest- Through its subsidiaries and affili- puware Hockey organization in the interested in computers from an ments. Before Venrock, he was ates, Alticor manufactures, markets late 1970’s. The organization in- early age. His father was a scientist head of Molecular Biology Re- and distributes consumer products cludes all levels of hockey from at Cal Tech, providing him access to search at Novartis. Dr. Galakatos and logistics services in more than recreational to AAA & Junior A a computer while most of his peers earned his doctorate in Organic 80 countries. Subsidiary Amway leagues. The Ontario Hockey were still churning out term papers Chemistry from MIT and per- alone, which accounts for the ma- League awarded an expansion on electric typewriters. When his formed his post-doctoral studies at jority of revenues, sells more than franchise in December 1989 known dad went into business designing Harvard Medical School. He is the 450 different products through 3 as the Detroit Compuware Ambas- portable rocket engines, Mr. Deme- lead director of Affymax, a biophar- million independent distributors. sadors. The team later became the triades also absorbed the day-to- maceutical company creating novel Alticor employs more than 12,000 Detroit Junior Red Wings, and is day functions of an entrepreneur, drugs for patients suffering from people and reported $7.1 billion in now called the Plymouth Whalers. including mundane tasks like bal- kidney disease. Affymax went pub- sales in 2007. Click Commerce, Mr. Karmanos also purchased the ancing the budget and payroll. After lic in 2006, and Dr. Galakatos provided industrial software which NHL’s Hartford Whalers for $48 graduating from Loyola Mary- raised $660 million for the compa- enabled millions of users in 70 million in 1994. The team was mount with a dual major in Com- ny last year. But times are also countries to support the business moved to North Carolina and re- puter Science and Economics and a tough for those companies which processes of manufacturing, aero- named the Carolina Hurricanes af- minor in Business Marketing, Mr.

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Demetriades worked for two com- tions, credit, retail and debit card is- Lynch this past December 1. Previ- panies designing software for insur- suing and processing. It also pro- ously, he was CEO of the New York ance companies and hospitals. vides money orders and paper Stock Exchange, presiding over its When he noticed that work being check processing. FORBES Merger with Euronext, and was repeated up to 70 percent of ranked FDC 38th this past No- president, chief operations officer the time, he created a prod- vember among the country’s and CFO of Goldman Sachs. Mr. uct which would reduce largest private companies, listing Thain also owned more than 3.3 the cost and time neces- its assets at $52.3 billion and its million shares of Goldman Sachs sary to integrate applica- 2007 revenues at $8 billion. stock, which was put into a blind tions. “I took the idea to Mr. Capellas says he inherit- trust before he became chief execu- my boss, and he said he ed his gritty determination tive of NYSE-Euronext. Assuming didn’t want to focus from his father, a Greek no shares were sold, that stake on that aspect of the citizen who fought with alone was worth more than $290 job, so I said, ‘Do the Greek Army against million at the beginning of March you mind if I quit the Germans in Italy (last year at this time, his Goldman and work on this?’ during World War II. Sachs stock would have been worth ” In less than a After the War, the el- over $740 million). Known as Wall decade, Demetri- der Capellas met and Street’s clean-up man, Mr. Thain ades found him- married his wife Juli- received starting compensation self at the helm of et in Italy. The family worth about $50 million at Merrill a multi-million then immigrated to in the residential real estate indus- Lynch. He received an additional dollar, publicly- Ohio, where Mr. try, and one of the country’s leading $19 million to make up for stock traded company. Capellas’ father condo developers. It typically buys awards, and received a $15 million In 1989, he was worked his way up existing properties in desirable lo- cash sign-in bonus in December developing inter- from laborer to super- cations, and converts them into 2007. His initial pay included a face engines to in- intendent at the Re- luxury condominiums. Its AI Realty salary of $750,000; restricted stock tegrate applica- public Steel Corpora- affiliate provides brokerage ser- worth $28 million at current mar- tions running on a tion, where he worked vices. Many of AI’s properties fea- ket values; and a three-tier grant of variety of propri- for 30 years. Mr. Capel- ture commercial space managed 1.8 million stock options worth etary operating sys- las developed an interest and leased by the company. In all, about $20 million, by conservative tems. In 1991, he in computers as an under- the firm has developed and man- valuation assumptions. The big op- founded STC, graduate at Kent State Uni- aged more than 40,000 condomini- tion grant was an incentive for him which was based versity. Shortly after he grad- ums in more than 40 markets since to bolster Merrill’s share price, in the Los Angeles uated, he met his wife, Marie it was founded by the Gouletas suburb of Mon- Angelillo, a former nurse. The family in 1969. With property val- rovia. STC became two married in 1979, and for the ues in excess of $4 billion (accord- one of the leading next 20 years, they traveled around ing to AI’s website, www.american- providers of integration so- the world as Mr. Capellas climbed invsco.net), AI continues to pave lutions. Starting with one the corporate ladder of each compa- the way in condo conversions and employee and one customer, Mr. Linksys, ny he joined. He was a senior vice new construction developments. Demetriades turned it into a compa- WebEx, Iron- president of Oracle Corporation in From converting landmark high- ny with more than 200 staff mem- Port and Scientific 1997-98. In 1999, he helped repair rises in New York City to designing bers working on R&D, and 350 pro- Atlanta). He was also the relationship between Microsoft and delivering luxurious private fessionals supporting more than 34. MICHAEL D. CAPELLAS senior advisor for Silver and Compaq, which had eroded residences in Chicago, AI displays 1,000 EAI installations worldwide. $300 MILLION Lake Partners, a $16 billion over the years. His efforts resulted an innovative and intuitive edge to “I invented something new, and CORPORATE ADMINISTRATION private equity firm focused solely in Compaq becoming Microsoft’s meet the needs of today’s home- with that there was a certain on making large-scale investments key strategic partner for the release buyer. The firm has 250 fulltime amount of self doubt at first, but Mr. Capellas, 53, has been chair- in leading technology companies, of its Windows 2000 operating sys- employees in its Chicago headquar- confidence is something that is key man & CEO of First Data Corpora- From October 2006 to July 2007 tem. In December 2006, Mr. Capel- ters. Mr. Gouletas amazing rags-to- to an entrepreneur’s success. We are tion, the world’s leading payment (Silver Lake’s portfolio has included las was appointed acting CEO of riches journey spans from Athens to all born with a variety of skill, luck processing company, since Septem- technological leaders such as Amer- Serena Software, selected by Silver Chicago, to Las Vegas and 40 mar- and other attributes. The real po- ber 2007, and is on the board of di- itrade, MCI, NASDAQ, Philips, Lake, which took Serena private in kets in-between. It is the story of a tential is in our own minds,” he told rectors for Cisco Systems, a huge Sabre Holdings and Seagate Tech- March 2006. Mr. Capellas and his poor 8-year-old immigrant boy the Webb School back in August multinational corporation with nology). Mr. Capellas’ earlier execu- wife have two children. He likes who was filled with hope and de- 2007. “People got carried away 66,000 employees and reported tive roles include chairman & CEO golf and rock and roll. He is also ac- termination. In 1944, near the end with the promise of technology,” he revenues exceeding $39.5 billion in of Compaq Computer Corporation tively involved in community and of World War II, the Gouletas fami- while shielding him from the risk said of the dot.com fallout. “But real 2008 (Cisco designs and sells net- between 1999 and 2001. Following charitable work. In 2002, he be- ly fled Greece in search of a better that the job is a bad fit. Things did- products like ours (SeeBeyond) that working and communications tech- Hewlett-Packard’s acquisition of came the first recipient of the Hope life, and a place to have the oppor- n’t go so well at Merrill Lynch, work in thousands of companies nology and services for Cisco, Compaq, he stayed on as president Technology Award from the Center tunity to build their own American which was hit hard by the Wall have a fundamental effect on how of HP for six months to ease the in- for Missing & Exploited Children. dream. Mr. Gouletas came to the Street meltdown last September, those companies operate and they tegration of the two companies. He He is a member of the Board of Gov- United States from Greece with his less than a year after Mr. Thain are willing to pay real money for it.” then left HP to become chairman & ernors of the Boys & Girls Clubs of poverty-stricken parents in 1944. took the helm of the storied broker- Dungeons & Dragons was a favorite CEO of MCI WorldCom between America, and plays a leadership He founded AI in 1969, at age 31, age firm. Even Mr. Thain couldn’t cerebral challenge during his youth, 2002 and 2006, presiding over the role in supporting City Year, an or- primarily as a real estate brokerage save Merrill from the economic col- and it helped cultivate his business eventual Verizon-MCI merger. He ganization which advocates and firm. His son, Steven, is now com- lapse which claimed the lives of acumen. “I loved that you had to had joined WorldCom, which was sponsors voluntary national service pany president. several Wall Street giants like Bear roll the dice in the game, and then in bankruptcy, to help it overcome a for young people. Mr. Capellas is al- Stearns and Lehman Brothers. But you had to explore each possibility. massive accounting scandal. After so a member of the American Uni- while Mr. Thain couldn’t hold back It really made me use my imagina- the transfer to Verizon was complet- versity Board of Trustees, and is rec- 34. JOHN A. THAIN the force of Merrill’s intractable tion, but at the same time, you had ed, Mr. Capellas received a $40 mil- ognized as a global thought leader $300 MILLION losses, he still managed to cut the to follow rules. It was a lot like busi- lion severance package. A 30-year in the technology industry. CORPORATE ADMINISTRATION best possible deal for Merrill stock- ness in that you had to predict what veteran of the IT industry, he took holders by facilitating Merrill’s $50 was going to happen, articulate a vi- charge of First Data shortly after Mr. Thain, 54, was born in the billion acquisition by Bank of sion and then deliver that vision,” Kohlberg Kravis Roberts acquired 34. NICHOLAS S. GOULETAS United Kingdom and grew up in America, then the country’s largest he said. Mr. Demetriades is now in- the credit card giant for $29 billion $300 MILLION Antioch, Illinois. His father was an commercial bank, last fall. The deal volved with real estate develop- in April 2007. Spun-off from Ameri- REAL ESTATE officer in the U.S. Air Force, and his worked out okay for Merrill Lynch, ment in California, and likes to par- can Express in 1992, FDC handles e- mother is a Greek American from but it turned out to be a disaster for ticipate in competitive yacht races. commerce processing services, in- Mr. Gouletas, 71, is chairman of Indiana. He became chairman and cluding merchant and bank transac- American Invsco, a pioneering firm chief executive officer of Merrill Continued on page 18

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Continued from page 17 to March 2009, Juniper stock en- joyed a high of $29.50 and a low of Bank of America, whose stock has $13.20 per share (market value, ac- plummeted more than 80 percent cording to FORBES: $7 billion). In- since September. Mr. Thain, who tuit provides business and financial became the number-2 man at Bank management solutions for small of America after the merger was and medium-sized businesses, fi- complete this past December, was nancial institutions, consumers and fired by BA CEO Ken Lewis at the accounting professionals. From end of January because of an addi- March 2008 to March 2009, its 52- tional $15.3 billion in losses at the week high and low was $32 and end of 2008. He also saw to it that $20 per share, respectively (market Merrill execs got $3.6 billion value: $7 billion). Salesforce.com bonuses before the merger was fi- provides software to businesses of nalized, and is now being pres- all sizes and industries worldwide. sured by NYS Attorney General An- Its 52-week high and low was $75 drew Cuomo to speak about the and $21 (market value: $4 billion). timing and nature of those bonus- Mr. Sclavos earned his bachelor’s es, though Mr. Thain himself ended degree in Electrical & Computer up with none. Mr. Thain earned his Engineering from the University of bachelor’s degree in Electrical Engi- California in Davis. From October neering from MIT in 1977 and his 1993 to June 1995, he was vice MBA from Harvard Business School president of worldwide marketing in 1979. He is a member of the MIT & sales for Taligent Inc., a software Corporation, the Dean’s Advisory development company which was a Council at the MIT Sloan School of joint venture among Apple Com- Management, U.S. National Advi- puter, IBM and Hewlett-Packard. sory Board, James Madison Council He joined VeriSign in July 1995 as of the Library of Congress, Federal one of its first employees. Since Reserve Bank of New York’s Inter- joining VeriSign, he helped estab- national Capital Markets Advisory lish the company as a global corpo- Committee, the French-American ration used by millions of con- Foundation, the National Urban sumers and businesses daily as they League’s board of trustees, and the interact on the world’s voice and New York Presbyterian Foundation, data networks. Mr. Sclavos led the which he served as governor. He company through a decade of ro- and his wife Carmen have two chil- bust growth and technological in- dren. Their son Alex went to MIT, novation. His last years with and their daughter Nicole is a stu- VeriSign were taken up with inves- dent at Yale. tigations into the company’s stock option program, but it is not be- lieved that Mr. Sclavos personally 37. PETER DION benefited from the option grants in $275 MILLION question, though it did occur under FURS, REAL ESTATE his watch. Mr. Sclavos was born to second-generation Greek American Mr. Dion is president of parents in San Francisco. He still Yarmuth-Dion in Garden City, Long lives in California with his wife Island. He was born in Greece, and Jody and their two children. A life- made his fortune in furs and real long Bay Area resident, Mr. Sclavos estate. He is a distinguished design- formed the Sclavos Family Founda- er, manufacturer and wholesaler of million. In an article published on ahead of the curve since taking the 39. NICHOLAS J. BOURAS tion to support charitable efforts in fine fur garments. He immigrated June 6, 1987 the New York Times helm in 2006. At a time when all $250 MILLION children’s education and medical to the United States in the early cites, “At the top of the line, two the country’s major banks – e.g., STEEL INDUSTRY research. He likes to play basket- 1950’s, and changed his legal name coats made of lynx bellies, so soft Bank of America and Citigroup – ball. In June 2002, he was honored from Dionysiou to “Dion” in 1973. and fluffy they look airborne. The are barely managing to stay afloat, Mr. Bouras was born in Pontiac, with the Ernst & Young Northern He began his career at the New short style is $200,000, the long JPMorgan is thriving, earning Mr. Michigan and grew up in Chicago. California Entrepreneur of the Year York firm of Hiller & Becker, a one $300,000.” Mr. Dion is one of Dimon praise from President Oba- He graduated from the Northwest- Award. He was also honored with renowned fur manufacture, and his the founding members of Leader- ma and the respect of his peers. Mr. ern University School of Commerce the 2001 Morgan Stanley Morgan talents soon became evident. In ship 100 and an Archon of the Ecu- Dimon was born in New York. His in 1955. He worked for the United Leadership Award for Global Com- 1974, the firm began to manufac- menical Patriarchate. grandfather, a Greek immigrant States Steel Corporation from 1940 merce; named to Forbes’ Top 50 ture coats under the Peter Dion la- from Smyrna, was a broker and to 1960. He left U.S. Steel to start CEO’s list; and served alongside 30 bel. Eventually, Mr. Dion became passed his knowledge of the busi- his own steel construction compa- technology experts on President the owner of the business and 38. JAMES DIMON ness onto his son and partner ny with his wife, Anna. Mr. Bouras George W. Bush’s National Security changed its name to Peter Dion $260 MILLION Theodore, Mr. Dimon’s father. As a was the owner and president of Telecommunications Advisory Inc., and later acquired Yarmuth CORPORATE ADMINISTRATION boy, Mr. Dimon attended the Bouras Industries Inc., which con- Committee, advising the President Furs Inc., a fur jobber, and called it Browning School, a prestigious all- sisted of four operating companies on national security and emer- Yarmuth-Dion. Mr. Dion entered in- Mr. Dimon, 52, is chairman & boys prep school on the Upper East and four manufacturing operations gency preparedness policy for the to an agreement in 1982 with CEO of JPMorgan Chase, one of the Side. He later majored in Psycholo- in three states – New Jersey, Penn- communications industry. James Galanos, a leading fashion country’s largest banks. Currently gy and Economics at Tufts Universi- sylvania and South Carolina. designer from Philadelphia (also ranked 82nd among FORBES high- ty, and earned his MBA from Har- Bouras Industries was the holding known for his silk fabrics), under est paid CEO’s, which lists his vard University Business School. company consisting of NJB Inc., 42. EVANGELINE GOULETAS which Mr. Dion manufactured fur three-year compensation at $88.9 Upon graduating in 1982, Sanford United Steel Deck Inc., Prior Coat- ly pride has maintained those stan- $215 MILLION garments designed by Mr. Galanos. million and stock ownership at Weill convinced him to turn down ed Metals Inc., ABA Trucking Cor- dards of excellence. Today, over 65 REAL ESTATE Galanos furs were distributed only $189.1 million, Mr. Dimon has offers from Goldman Sachs and poration, and the New Columbia years later, H&S, employs about through the country’s best-known managed to keep JPMorgan well Morgan Stanley, and join him as an Joist Company. Bouras Industries 1,000 people in the Baltimore area, Ms. Gouletas, 72, is chair & CEO department stores catering to the assistant at American Express. employed over 650 people and and supplies stores like Giant and of Chicago-based Skyline Equities carriage trade, such as Bergdorf- Through a series of unprecedented maintained offices in over 20 dif- Super Fresh with hearth breads and Realty LLC (SER), a full service eq- Goodman and Nieman-Marcus. mergers and acquisitions which en- ferent cities. Texas-based steel pro- rolls which are then sold under the uity and development firm versed The Galanos label appeared on sued, they formed Citigroup, then ducer Commercial Metals bought supermarkets’ own brand names. in all aspects of the real estate in- these furs together with that of the the largest financial services con- nearly all of Bouras Industries’ op- Its products are distributed as far dustry, from concept to delivery, to store. The luxurious designs em- glomerate in the world. Mr. Weill erating assets – United Steel Deck, north as Long Island and Massa- marketing, leasing and manage- ployed the most exacting work- was the one who made the deals, ABA Trucking and New Columbia chusetts and as far south as North ment. She was also co-chair of manship, and are extremely expen- but Mr. Dimon was the “whiz kid” Joist – for more than $63 million in Carolina. Mr. Paterakis also owns American Invsco, one of the coun- sive. Mr. Galanos’ most famous who made the numbers work. Mr. March 2007 to expand its manufac- Northeast Foods Inc., which makes try’s top condo converters, with clients were Diana Ross and Nancy Dimon left Citigroup in November turing of steel joists (lengths of the buns for McDonald’s. He has property assets in excess of $4 bil- Reagan, wife of former President 1998 due to an internal conflict steel supporting part of a building’s built a McDonald’s distribution lion. In 1998, Ms. Gouletas became Ronald Reagan, for whom they de- with Mr. Weill. But those days are structure, typically arranged in par- center in Ireland, and supervises the first woman to be inducted into signed inaugural gowns of rich fab- clearly behind him now, and he has allel series to support a floor or ceil- production of rolls for the company rics, and Mr. Dion, who also sold been in the limelight, attending the ing). Mr. Bouras is a veteran of in Singapore and India. The bakery garments of his own design and World Economic Forum in Davos, World War II. He enlisted in the magnate is also a behind-the- manufacture to retailers in Chica- Switzerland in January and testify- U.S. Army Air Corp in 1942, and scenes political heavyweight whose go, was the furrier who made sure ing before Congress about the state served three years in the European fundraising has helped leading the quality of the pelts and the of the nation’s banking system in theater of operations. He flew 44 politicians, including the late gov- workmanship support the innova- February. He is married to Judith combat missions in B-26 and A-26 ernor and vice president Spiro T. tive design. It is a lucrative business Kent, with whom he has three medium bombers as a lead bom- Agnew, former Governor Marvin with estimated annual sales of $10 daughters. bardier and navigator until the end Mandel, retired U.S. Senator Paul of the war in Europe. Honorably Sarbanes and former Baltimore discharged with the rank of major, Mayors William Donald Schaefer Mr. Bouras was awarded the Distin- and Kurt L. Schmoke. Mr. Paterakis guished Flying Cross, eight air also owns H&S Properties Develop- medals and five battle stars. He is a ment Corp., a development compa- founding member of Holy Trinity ny which has built several buildings Church in Westfield, New Jersey. east of Baltimore’s Inner Harbor, to He is very dedicated to the Greek include the Baltimore Marriott Wa- Orthodox Church, and has made terfront hotel. Others include many philanthropic contributions Courtyard by Marriott and offices over the years. He is a past presi- for Sylvan Learning Systems and dent of its parish council, and Fidelity & Guaranty Life Insurance. served as chairman of the church’s the Chicago Association of Realtors building committee for 33 years. Hall of Fame. She resigned as co- He is a member of the Archdioce- 41. STRATTON SCLAVOS chair of AI to pursue Skyline Equi- san Council’s Executive Commit- $225 MILLION ties, which concentrates on the ac- tee, and an Archon of the Ecumeni- COMPUTERS AND quisition and development of high- cal Patriarchate, serving on the Ar- CELLULAR TECHNOLOGY quality commercial and residential chons National Council. properties. She went to Miami in- Mr. Sclavos, 47, was chairman, tent on making South Florida re- president & chief executive officer member her company’s motto, 39. JOHN PATERAKIS of VeriSign for 12 years before he “The Sky is the Limit,” and quickly $250 MILLION resigned in May 2007, leading that became one of the most creative BAKED GOODS, REAL ESTATE company through many acquisi- forces in the area’s real estate com- tions. He abdicated the helm at munity with her 35-story, 369-unit Mr. Paterakis, 79, is president of VeriSign, in part, because of inter- SKYLINE tower at Mary Brickell Vil- Baltimore-based H&S Bakery, the nal opposition to his drive for diver- lage, the epicenter of Miami. The largest privately owned bakery in sification. He is now a director on lushly landscaped residential de- the country, which bakes buns for three multi-billion-dollar compa- velopment is located within a the fast-food industry, as well as nies, Juniper Networks, Intuit and mixed-use setting, which includes Fulfill all your dreams of a beautiful wedding on your Special Day English muffins, bagels and rolls. Salesforce.com. Juniper designs, gourmet restaurants, retail and en- Founded in 1943 he company was develops and sells products and tertainment options, as well as a named after the initials of its services which provide its cus- state-of-the art fitness complex. founders, Greek immigrants Harry tomers with performance network SKYLINE on Brickell is located in TOWERS ON THE GREEN Tsakalos, Mr. Paterakis brother in- infrastructure which creates re- one of the last remaining water- Where dreams come true law, and Isidoros “Steve” Paterakis, sponsive and trusted environments front high-rise residential parcels his father, and is still run by family over a single Internet protocol- on Miami’s Biscayne Bay. SER has Where your special day is embraced by a professional staff members. The story of H&S Bakery based network. From March 2008 also completely restored a 1930’s with enthusiasm and sincerity reads like a classic American suc- art deco masterpiece, creating Sky- Whether you are planning an intimate ceremony, a reception cess story. It is a classic tale of line Century of Progress, with 293 or a rehearsal dinner, our expert catering and culinary team are waiting Greek immigrants, the Paterakis premier rental residences at 182 to assist you in all aspects of your special day and Tsakalos families, who came to West Lake Street in Chicago’s Loop. this country seeking the American Recently designated a Chicago Enjoy a magnificent view Dream. The Bakery’s founders be- Landmark, this architectural gem is of Towers Country Club Golf Course gan selling hearth-baked breads 20 stories high. Ms. Gouletas also out of a basement in the family’s owns the Lake Point Tower Renais- Overlooking the luxurious North Shore Towers Golf Course, straddling the Queens/Nassau row house near Johns Hopkins sance Plaza, a 70-story tower she border, Towers on the Green offers a lush country club setting for your wedding or special Hospital. Steve baked Italian bread helped revitalize when she was its occasion.. by hand, while Harry delivered it in principal manager between 1971 their sole bakery truck. The and 1988. This multi-million-dollar Weddings, Bridal Showers, Baby Showers, Anniversaries, Christenings founders had simple old-fashioned development includes retail and of- Formal Dinners, Business Meetings, Organization Functions principles: work hard; pay atten- fice space for lease on the first, sec- We can accommodate parties from 100-350 people tion to detail; focus on product ex- ond and 70th floors. The newly cellence; and provide superior cus- renovated French restaurant, Cité 272-48 Grand Central Pkwy, Floral Park, NY 11005 tomer service. Mr. Paterakis joined Elegant Dining, which is also TToowweerrss oonn tthhee GGrreeeenn (516) 775-7710 the business at 23 years of age, and owned by Ms. Gouletas, occupies www.towersonthegreen.com helped transform it to a national the 70th floor. Like her brother, company. Through the years, fami- Nicholas, Ms. Gouletas was born in THE NATIONAL HERALD, MARCH 14, 2009 Wealthiest Greek Americans 2009 19

Greece, and has run in the same so- cording to Crain’s New York Busi- husband’s fortune – Mr. Hanks clude the Screen Actors Guild cial circles as Donald Trump and ness, CIC’s estimated annual rev- commands $25 million per picture (1996), Emmy (2002), Golden his former wife Ivana, along with a enues for 2005 were expected to these days, and has starred in seven Globe (2003) and People’s Choice bevy of Democratic politicos like exceed $870 million. According to consecutive $100 million block- (four times) Awards, and has assist- Ted Kennedy, Michael Dukakis, Hoover’s business research compa- busters – their combined net worth ed and worked with many charities David Dinkins and Jimmy Carter, ny, sales were $946 million in 2006 probably exceeds $200 million. like Rain (an anti-sexual assault or- stemming from her years as the and $781 million in 2007 (2008 ganization), St. Jude’s and various wife of New York Governor Hugh sales data was unavailable at press cancer-fighting organizations. Carey, who was governor of the time). 45. JENNIFER ANISTON Empire State from 1975 to 1982, $160 MILLION and whom she married in 1981. ENTERTAINMENT 46. LOUIS KATOPODIS She also has degrees in mathemat- 43. RITA WILSON $150 MILLION ics and engineering from John $200 MILLION Popularly and affectionately FOOD INDUSTRY Hopkins and the Illinois Institute of ENTERTAINMENT known as “America’s Sweetheart,” Technology, and actually worked as Ms. Aniston, who just celebrated Mr. Katopodis is president & a mathematical analyst on the Min- Ms. Wilson, 52, is an American her 40th birthday this past Febru- CEO of Fiesta Mart, a $1.5+ bil- uteman Missile Program, according film and stage actress and produc- ary 11, once lived in Crete and lion-a-year subsidiary of Grocer’s to information in an article pub- er. She is wife of superstar actor Athens as Jennifer Anastassakis. Supply Co., which sells ethnic and lished by the Gale Group in May and producer Tom Hanks. Born The daughter of famous daytime conventional groceries in Texas 2004. Ms. Gouletas is a trustee of Margarita Ibrahimoff in Los Ange- soap opera star John Aniston (primarily to the Lone Star State’s the Greater Miami Chamber of les, her father was a Pomak born in the Vanities,” “Sleepless in Seattle,” (“Days of Our Lives”), she eclipsed (2006)” and “Marley & Me Mexican and Asian American con- Commerce, and has been com- Greece. Before immigrating to the “That Thing You Do,” “Frasier,” and her father’s television fame and (2008),” which helped established sumers). Fiesta Mart is a grocery mended by political, community U.S., he had lived in Bulgaria and “Runaway Bride.” She also played success with her own role as Rachel her as a movie star. Her latest film, chain with locations in Austin, Dal- and civic leaders throughout South Turkey; her mother was born and Susan Borman, wife of astronaut Green on the eternally popular situ- “He’s Just Not That Into You,” re- las and Houston. It began operat- Florida for her pioneering spirit raised in a Greek village on the Al- Frank Borman, in the HBO minis- ation comedy, “Friends.” In the leased last month, has already ing in 1972 with a single supermar- and commitment to the area. The banian border. Her family changed eries “From the Earth to the Moon,” show’s final years – it ran for ten grossed over $120 million, and ket in Houston, and has since South Florida Business Journal rec- their surname to Wilson, which and performed the role of Roxie seasons – Ms. Aniston and her five FORBES lists her 17th on its grown to a chain of 50 supermar- ognized her with its “Ultimate was the name of a local street in Hart in the Broadway revival of castmates struck what was then a “Celebrity 100,” reporting that she kets and 17 beverage centers. From CEO” award in 2006. She has Southern California. Ms. Wilson is “Chicago” from June to August of record deal – $1 million each per commands a hefty $27 million fee the beginning, Fiesta has supported served on the U.S. Fund for often credited with being the dri- 2006. She has contributed to the episode – and she still collects a for each movie she does. Moreover, local non-profit and social service UNICEF’s Advisory Council for the ving force behind Nia Vardalos’ Moffitt Cancer Center by donating sizeable paycheck from the now- her participation in several Holly- agencies as part of the company’s last ten years. The late Patriarch smash-hit movie, “My Big Fat Greek “True Hearts” jewelry, made of ster- iconic sitcom’s syndication. Ms. wood projects as either a producer unwavering commitment to give Diodoros of Jerusalem conferred Wedding,” which became the high- ling silver and 14-karot gold. The Aniston’s film career has been or an actress has elevated her fi- back to the communities in which it upon her the high distinction of est-grossing independent film of all proceeds went to the benefit of sev- somewhat hit-or-miss. Her recent nancial status and clout. She di- operates. At its supermarkets, Fies- Grand Commander of the Holy time. Ms. Wilson has had recurring eral charities. She and her husband films, “Derailed” and “Rumor Has It vorced from superstar actor Brad ta leases kiosks to vendors who of- Sepulcher, and she was was also roles in various television series, are members of the Greek Ortho- (2005),” were considered bombs, Pitt four years ago, but the press- fer items like jewelry and cellular bestowed with the title and dignity and has appeared in several dox Church. She has been married but have been more than offset by averse Ms. Aniston is magazine- phones. Founded in 1972, Fiesta of “Her Excellency” and Comman- movies. These include “Midnight to Mr. Hanks since April 1988, and box office bonanzas like “Bruce cover gold. She has won multiple was acquired by wholesaler Gro- der of the Temple of Jerusalem’s Caller,” “Volunteers,” “Bonfire of has two children. Factoring in her Almighty (2003),” “The Breakup awards during her career, to in- cer’s Supply in 2004 (Grocer’s Sup- Sovereign Military Order. She has ply employs 8,900 people; enjoyed one daughter, Maria. $2.72 billion in sales in 2007; and is the country’s 154th largest com- pany, according to FORBES). Mr. 43. SATIRIS G. FASSOULIS Katopodis has described Fiesta’s $200 MILLION core operating principle as “serving MILITARY TECHNOLOGY the under-served.” He is a board member of the Food Marketing In- Mr. Fassoulis is chairman & CEO stitute, and has served on the board of CIC International, which manu- of Houston’s East End Red Cross factures military ammunition, ex- and as chairman of the Skyline Dis- plosives-loading machinery, night- trict Boy Scouts. He is also a board vision systems, helicopter parts, member of the Food Marketing In- munitions and aerospace compo- stitute and the Chronic Lymphocyt- nents, and assembles complete mil- ic Leukemia Global Research Foun- itary motor vehicles for govern- dation. ments and defense contractors worldwide. The firm also upgrades weapons systems for the U.S. Navy, 47. JOHN A. LEONTAKIANAKOS and has operated armored vehicle $120 MILLION production facilities in Philadel- BIOTECHNOLOGY, phia and Honolulu. CIC enjoys a HOMELAND SECURITY wide spectrum of services geared to the U.S. Army, Navy and Air Force, Born a stone’s throw away from and is a recognized leader in the the Acropolis, Mr. Leontakianakos, modernization of tanks and APC’s 47, is a primary shareholder of (armored personnel carriers). The three biotechnology companies, firm has also designed and imple- BioAvenge, Capital Genomix, and mented kits for the modernization Immunomic Therapeutics, and a of weapons. The company was co-founder and senior vice presi- founded by British interests in 1930 dent of GateKeeper USA Inc., a as a silk and fur trader, and had op- company which specializes in in- erations in Shanghai as Commerce stalling security devices for con- International China. Over the tainers on ships, mandated by the years, the focus changed to defense federal container security initiative contracting. It trades in surveil- in January 220, and has contracts lance equipment, munitions and with the Department of Homeland other military supplies; has a staff Security. BioAvenge, now a sub- of more than 700 employees; and is based in Hoboken, New Jersey. Ac- Continued on page 21 PETROPOLE Insurance Agency Providing Quality Insurance Protection at Reasonable Prices for Over 47 Years

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By Evan C. Lambrou it to tens of millions of customers, In an interview with CNBC’s Special to The National Herald including individual consumers; Maria Bartiromo of CNBC at the nearly 2 million small business end of last month, who asked him NEW YORK – Drastic times call for clients; large corporations; other whether the big United States drastic measures. That’s why Jamie banks; not-for-profits; and states banks are doing enough to unglue Dimon, Chairman & CEO of JPMor- and municipalities,” he said. the credit markets by making loans, gan Chase & Co., and his bank have “While we did not seek the $25 Mr. Dimon said substantial credit slashed dividends, temporarily billion in TARP funds we received ($150 billion cited in his testimony halted foreclosures, and are mov- on October 28th, it strengthened to Congress) was flowing from his ing ahead with modifying up to a our already strong capital base, bank over the previous 90 days in million loans over the next year in which is the foundation for all our the form of credit card debt, mort- an effort to help the economy re- lending activities. We are putting gages, auto loans and loans to cor- cover. that money to use in a way that re- porations. Ten years after leaving Citigroup spects the spirit of TARP, while Asked about when he thought because of a conflict with his boss maintaining the safe and sound the economy might turn around, at the time, Mr. Dimon is back to lending practices that have helped Mr. Dimon said he is usually cau- being Wall Street’s – and now also to make – and to keep – JPMorgan tious about making predictions. Main Street’s – Golden Boy. a healthy and vibrant company,” he But he also noted that, while his He joined JPMorgan Chase in said, noting that his bank employs bank has fared better than most of 2004, when it bought Chicago- 224,000 people worldwide; gave its peers during the current crisis, based rival Bank One, which he al- $100 million to charity last year; reporting a fourth-quarter profit of so led. He presided over the merger and paid $10 billion in taxes to fed- $702 million while Citigroup post- and basically saved Bank One, be- eral, state and federal govern- ed its fifth straight loss, and while it coming CEO of the parent company ments. rescued salvaged Bear Stearns and in early 2006. “In the 4th quarter, despite re- Washington Mutual from insolven- He was listed on TIME Maga- duced consumer demand for credit, cy last year, JPMorgan is unlikely to zine’s list of the world’s 100 most we made over $150 billion in new make any more acquisitions while influential people in 2006, and he loans. In addition, we lend an aver- it consolidates. is now front-and-center in the cor- age of $50 billion every night to ABOUT JAMIE DIMON porate world during a time of his- other banks. Also during the fourth Mr. Dimon is married to Judith toric economic upheaval and quarter, we purchased almost $60 Kent. They have three children, Ju- fragility in the American banking billion of mortgage-backed and as- lia, Laura and Kara Leigh. He was system. set-backed securities, which had born in New York. His grandfather, He was in Davos, Switzerland the benefit of supporting the a Greek immigrant from Smyrna, for the World Economic Forum at agency debt markets and promot- was a broker and passed his knowl- the end of this past January. He tes- ing liquidity in the housing capital edge of the business onto his son tified before Congress on February markets,” he said. AP/CHARLES DHARAPAK and partner Theodore, Mr. Dimon’s 18. He has given several major in- “Overall, in the 4th quarter, our President Obama shakes hands with JPMorgan Chase CEO Jamie Dimon in the East Room of the White father. His father and grandfather terviews since then, expressing consumer loan balances increased House this past February 13. The President commended Dimon for his stellar performance at JPMorgan. worked together for 19 years, and support for the Obama Administra- by 2.1 percent compared to the 3rd young Jamie held summer jobs in tion’s economic strategies. And he quarter, while overall personal con- housing spiral. speculators. It’s helping homeown- Recalling the landing of his first their New York office. has been commended by none oth- sumption expenditure in the coun- Federal officials and lenders are ers, and we think it’ll be a very suc- CEO job at Bank One a little over As a boy, Mr. Dimon attended er than President Obama himself: try decreased by 2.3 percent over trying to make sure the program cessful program” because it will eight years ago, Mr. Dimon told the the Browning School, a prestigious PRESIDENTIAL ACCOLADES the same period. That is to say, we provides badly needed help for up help homeowners cope with their Summit the economic climate was all-boys prep school on the Upper “There are a lot of banks that are lent more even as consumers cut to 9 million homeowners, as the mortgages through lower interest hostile back then, too. East Side. He later majored in psy- actually pretty well-managed, JP back their spending during that Obama Administration hopes. rates over the next five years. “I was terrified,” he said. Bank chology and economics at Tufts Morgan being a good example. I quarter,” he added. For borrowers at risk of foreclo- While Mr. Dimon said he was One was a mess. He had to slash University, and earned his MBA don’t think its CEO should be pun- Only three of the eight bank sure, incentives will be offered to “concerned” the bank may lose em- the dividend and at least 10,000 from Harvard University Business ished for doing a pretty good job chief executives who testified be- lenders to make the loans more af- ployees because of new restrictions jobs. Having been fired from Citi- School. Upon graduating in 1982, managing an enormous portfolio,” fore Congress on their use of gov- fordable. Under the plan, lenders on executive pay, he also said JP- group by his mentor, Sandy Weill, Mr. Weill convinced him to turn Morgan will change its current loan he was navigating a landmine with down offers from Goldman Sachs modification plan based on the new a couple of other ex-Citi executives and Morgan Stanley, and join him government guidelines. He also by his side. as an assistant at American Ex- said he expects the number of JP- “They told me, ‘We can’t do press. Morgan’s prevented foreclosures to what we need to do – make these Though Mr. Weill could not offer increase since Mr. Obama’s plan cuts – and take a bonus,’ ” he said. the same amount of money as the will allow more people to refinance Mr. Dimon not only withheld investment banks at the time, he their loans. the bonuses for those two execs promised Mr. Dimon he would Last month, JPMorgan extended and himself that year, he also asked have fun. Mr. Weill left American its modification program to include his top 15 people, “What do you Express in 1985 due to a power mortgages held by investors, as think you should earn?” He then struggle. Mr. Dimon followed him, well as those on the bank’s books. pulled their bonuses and a swath of and the two took over Commercial The lender has prevented 330,000 perks, including club memberships, Credit, a consumer finance compa- foreclosures, and Mr. Dimon told car services, even matching gift ny, from Control Data, which be- the House Financial Services Com- grants. “I told them, ‘I didn’t do it to came the vehicle they would use to mittee that JPMorgan expects to punish you. I did it because they’re propel themselves to the top of the “avert” another 650,000 by 2010 as all entitlements. When the compa- financial world. part of the program. ny does well, I’ll pay you even Through a series of unprece- “We believe this is the right ap- more,’ ” he said. dented mergers and acquisitions, proach for the consumer, and for In early February, he acknowl- Mr. Dimon and Mr. Weill were able the stability of our financial system edged corporate executive behav- to form Citigroup, the largest finan- as a whole,” he said. ior, in general, had gotten out of cial services conglomerate the U.S. foreclosures reached hand, but said it was unfair for world had ever seen. Mr. Weill was 274,399 in January, the tenth politicians to criticize Wall Street the one who made the deals, but straight month in which more than pay without differentiating com- Mr. Dimon was the “whiz kid” who a quarter-million filings were pensation based on performance. made the numbers work. processed. Last year, more than 2.3 “Pay got a little exuberant, and Mr. Dimon left Citigroup in No- million homeowners faced foreclo- there were some legitimate com- vember 1998. It was rumored that sure proceedings, an 81 percent in- plaints,” he said, “but it’s unfair to he and Mr. Weill had gotten into an crease from 2007, and analysts are talk about us as one. Not every argument in 1997 over a perceived predicting that number may soar to company was responsible.” lack of promotion for Mr. Weill’s as many as 10 million in the coming Mr. Dimon also said the Federal daughter, Jessica M. Bibliowicz. In years. Reserve should have the authority his 2005 University of Chicago The President said he supports to regulate all companies within Graduate School of Business Fire- reforming U.S. bankruptcy rules to the banking system, including in- side Chat and 2006 Kellogg School AP/MICHEL EULER let judges reduce mortgages on pri- vestment banks. Regulators lacked of Management interviews, Mr. Di- Israel’s Likud Party leader, Benjamin Netanyahu (right), gestures towards JP Morgan Chase CEO Jamie mary residences to fair-market val- powers to oversee such firms be- mon stated that Mr. Weill fired him. Dimon during a session at the World Economic Forum in Davos, Switzerland this past January 29. ue, as long as borrowers pay their fore Bear Stearns and Lehman But those days are clearly be- debts under a court-ordered plan. Brothers failed last year. hind him now, and one of the rea- the President said on February 10. ernment bailout funds actually will receive subsidies if they reduce OBLIGATION TO PAY “If you’re going to regulate, sons for Mr. Dimon’s success is the Mr. Obama wasn’t just being bought shares in their companies mortgage payments to 38 percent Mr. Dimon said bankruptcy you’ve got to regulate all of it,” he people he chooses to works with. kind or playing favorites. Of all the for their own portfolios over the of a borrower’s monthly income. modification would be “the last re- said. “If you don’t, you’re going to He doesn’t just surround himself major banks, JPMorgan Chase is last six months as the stocks were Then Washington will provide sort, not the first resort,” and will end up right back here again, with with buddies from the old days. virtually the only one which still re- plummeting. Mr. Dimon was one of matching allocations to bring the push more people to modify loans. all of these problems.” One key group of “Dimonites” sembles a live, breathing bank. On them, disclosing that he invested payment to as low as 31 percent. He said it is a good way for home- But talk of nationalizing banks consists of J.P. Morgan Chase exec- its website, the New York banking $12 million to increase his already For many homeowners whose owners to seek recourse if they are should stop, he said, because many utives whom he promoted or nur- giant states it is “a leading global fi- large holdings in JPMorgan Chase. incomes have dropped dramatical- unable to change loan terms under nancial services firm with assets of Mr. Dimon was paid $1 million a ly because of unemployment, the the Government’s plan, and noted $2.2 trillion and operations in more year in both 2006 and 2007, but program will likely be out of reach; that, in spite of negative equity, than 60 countries.” turned down his bonus for 2008. their monthly payments will be too many homeowners are still paying And while JPMorgan has taken JPMorgan accepted $25 billion in high. The plan says little about their mortgages. $29.5 billion in losses, writedowns Government bailout money, though writing down loan principals, and “There’s an obligation to pay. I and credit provisions since the start it emerged from the crisis stronger some borrowers will redefault even don’t think that, just because some- of the financial crisis, that’s only a than some rivals, having absorbed after going through the program. one is underwater, they should say fraction of the $85.4 billion taken Bear Stearns and Washington Mu- Even so, Mr. Dimon said his ‘I don’t have to stay there.’ You’re by Citigroup and $55.9 billion by tual last year. The WaMu acquisi- bank might rewrite as many as a supposed to pay your mortgage, Merrill Lynch, once led by Greek tion alone increased average total million mortgages. Unlike the poli- and we should teach the American American John Thain and now part deposits at JPMorgan by 63 percent cies advanced by the Bush Adminis- people that you’re supposed to of Bank of America. to $339.8 billion. tration, the new program will allow meet your obligations, not run Citigroup and Bank of America So Mr. Dimon appears to be do- homeowners who are not yet delin- from them. Just because you have a are struggling to tread water, but ing considerably better than some quent to qualify for loan modifica- mortgage, it doesn’t mean you the House of Morgan is down only of his competitors. Bank of America tion. should run away if (the value of the 43 percent in the past year, while CEO Ken Lewis, for example, who In a statement released by JP house) goes down,” he told Ms. the other two have each plunged fired Greek American John Thain Morgan Chase on February 18, Mr. Francis. more than 85 percent. For share- last month, earned $24.8 million in Dimon said he thought the Admin- “People have lived there for a holders and taxpayers, the differ- compensation in 2007. He was istration’s plan to help struggling long time. Their children are in ence is night and day. hailed for acquiring Merrill Lynch homeowners will succeed. schools. And a lot of people who So with respect to the Presi- last year, but may have been better “We believe that the plan an- are underwater – they’re paying. dent’s praise, some observers have off doing more due diligence. Bank nounced by President Obama today There’s only a portion who are un- pointed out, Mr. Dimon is compara- of America, whose shares have fall- is good and strong, comprehensive derwater that aren’t paying,” he tively a rock star, and doesn’t de- en dramatically since mid-October, and thoughtful. I think it will be added. serve to be punished alongside his has so far received $45 billion in successful in modifying mortgages While Mr. Dimon’s bank has AP/MANUEL BALCE CENETA peers. bailout assistance from the U.S. in a way that’s good for homeown- been able to remain profitable JPMorgan Chase CEO Jamie Dimon, 2nd from left, testified before the When he testified before the Treasury. ers,” he said. throughout the current downturn, House Financial Services Committee this past February 11. House of Representatives Financial PLAYING BALL “We applaud the focus on mak- the economic dislocation contin- Services Committee on February In any case, Mr. Dimon, a self- ing monthly payments affordable ues, a fact not lost on JPMorgan, institutions remain healthy. Some tured. Among them are Steve Black 11, Mr. Dimon was joined by seven proclaimed Democrat, seems to be for borrowers; the creation of uni- which slashed its dividend from 38 lenders will fail, he explained, and Bill Winters, co-heads of the in- fellow CEO’s of the country’s playing ball with the White House. form national standards for mort- cents to 5 cents on February 23 to while others will need Government vestment bank, and Jes Staley, largest banks. “I have great hopes for the new gage modification to provide con- preserve capital and protect itself aid to make it through the financial chief of asset management. Other They listened to Committee President and his team,” he said in sistent and fair treatment of cus- should the ongoing recession wors- crisis, and the U.S. should help J.P. Morgan veterans have also members castigate them for their a speech during a recent confer- tomers across the industry; the ex- en. The move should save the bank those firms which need it, and flourished under Mr. Dimon, in- bonuses, underwriting fees and ence in Manhattan hosted by panded ability of borrowers to take about $5 billion per year, keeping it should price that aid to recoup loss- cluding Ina Drew, the chief invest- perks. Rep. Emanuel Cleaver (D- Crain’s New York Business maga- advantage of today’s lower rates among the strongest banks during es. ment officer, and Todd Maclin, a Missouri) read questions from an- zine. through refinancing; the inclusion the ongoing recession and credit In Davos, Mr. Dimon argued magnetic Texan who runs the divi- gry constituents asking what banks On February 18, President Oba- of financially distressed borrowers market turmoil. that regulators are also to blame for sion which caters to midsized com- did with money they had taken ma announced a $275 billion pro- even before they are delinquent; Mr. Dimon said he expects his letting consumers amass debt like panies. from the $700 billion Troubled As- gram which includes cutting mort- and the use of counseling for bor- bank to be profitable throughout “weapons of mass destruction to Mr. Maclin shares Mr. Dimon’s sets Relief Program, and Rep. gage payments for qualified bor- rowers with the highest debt ra- 2009, including the first quarter, borrow too much,” which led to the predilection for candor. “Jamie and Michael Capuano (D-Massachu- rowers and expanding the role of tios,” he said. and said JPMorgan is on track to re- global economic crisis. I like to get the bad news out to setts) told them he “can not believe Fannie Mae and Freddie Mac, the “We look forward to working port first-quarter profit roughly in “God knows some really stupid where everybody can see it,” he no one has prosecuted you.” two federally sponsored mortgage with the Administration, Congress, line with analyst expectations. things were done by American said, “to get the dead cat on the In his testimony, Mr. Dimon said giants, in curbing foreclosures. the agencies and other interested Foregoing down bonuses and banks and by American investment table.” not all banks should be painted The economy is not likely to re- parties in implementing these ini- slashing dividends are measures banks. To policymakers, I say with the same brush, noting that in turn to an even keel until the hous- tiatives to help families and the Mr. Dimon has had to take in the where were they? They approved The above story draws from in- spite of the current credit crunch, ing sector stabilizes, and housing U.S. economy,” he added. past. “I feel like I’m riding a bronco all these banks,” he said. formation published by the Asso- JPMorgan has continued lending won’t fully stabilize until the job- In an interview with CNBC’s and holding on for dear life most of Mr. Dimon was a rare breed in ciated Press, Bloomberg News, money. less rate stops rising. Coupled with Melissa Francis the same day, Mr. the time,” he said when he picked Davos. He was one of the few McClatchey-Tribune News Ser- “JPMorgan Chase is lending. federal efforts to create and protect Dimon said he thought the plan is up his Legend in Leadership Award American banking chiefs to go to vice, Investment Journal, Inde- Through our 5,000 branches in 23 jobs, the President’s program is an “really elegantly done and really at the Yale CEO Summit in New the World Economic Forum this pendent, FORTUNE, FORBES, states, we continue to provide cred- attempt to deal with the downward well-designed… It’s not helping York this past December. year. CNN Money and Wikipedia. THE NATIONAL HERALD, MARCH 14, 2009 Wealthiest Greek Americans 2009 21

Continued from page 19 mately 317 million tons of metal- beverage and industrial products. of Greek ancestry, and his paternal lurgical quality coal reserves and He earned his bachelor’s degree, grandmother is Jewish. Greek cul- sidiary of GateKeeper USA (ac- approximately 746 million tons of MBA and a doctorate in Economics ture played a big role in his up- quired in 2008), uses technologies low-sulfur steam coal reserves. ICG from New York University. bringing, and he attended the to study genes, gene expression also owns the Sago Mine in West Greek Orthodox Church on Sun- and genetic sequence in order to Virginia, where 12 miners were days. From an early age, Mr. Sam- identify biohazardous agents. Capi- killed during an explosion in Janu- 50. PETE SAMPRAS pras showed signs of outstanding tal Genomix uses two technology ary 2006. From March 2008 to $60 MILLION athletic ability. He discovered a ten- platforms for the comprehensive March 2009, it registered 52-week PROFESSIONAL TENNIS nis racquet in the basement of his analysis of genes and proteins, in highs and lows of $13.90 and home, and spent hours hitting balls order to develop drugs to enhance $1.35, according to FORBES, Mr. Sampras, 37, was the against the wall. In 1978, the Sam- immune system response. Immu- which lists its market value at $190 world’s top tennis player. During pras family moved to Palos Verdes, nomic Therapeutics is developing million. Before joining ICG, Dr. Cat- his stellar 15-year career (1988- California where the warmer cli- next-generation vaccines for aller- acosinos has also served as manag- 2002), he won a record 14 Grand mate allowed him to play more ten- gies. Its first vaccine will be for ing partner of Laurel Hill Capital Slam men’s singles titles, and fin- nis. Tennis legend Rod Laver was Japanese Red Cedar-induced asth- Partners, a private equity invest- ished as World No. 1 on the ATP his idol. He met and played with ma. Mr. Leontakianakos first came ment firm. Until the end of 2005, rankings for six consecutive years, Mr. Laver when he was 11 years of to the United States in 1970 at Dr. Catacosinos had served as a record for the Open era and tied age. After going pro at the age of eight years of age. His parents chairman, president & CEO of TNP for third all-time. Mr. Sampras won 16, Mr. Sampras went onto domi- came to New York, where he grew Enterprises Inc., the parent of Wimbledon seven times, a record nate his sport, defeating greats like up in Woodside, Queens. He is a Texas-New Mexico Power in Fort shared with William Renshaw. He Mats Wilander, Ivan Lendl, John graduate of the Transfiguration dent. The action resulted in a spe- Worth, Texas. He was also chair- won five singles titles at the U.S. clay. By the time he retired, the McEnroe and Andre Agassi along School in Corona, and his family cial shareholder vote, which failed man & CEO of Long Island Lighting Open, an Open-era record shared “King of Swing” had won a stun- the way. The Sampras-Agassi rival- then moved to Long Island, where to generate the necessary 50 per- Co., which built the controversial with Jimmy Connors. He also won ning total of 64 career tourna- ry became the defining thread of he graduated from Half Hollow cent for Mr. Perlegos. The San Fran- Shoreham Nuclear Power Plant on the Australian Open twice. Only ments, and enjoyed career earnings competitive tennis in the 1990’s, Hills High School in Dix Hills. He cisco Chronicle reported on Febru- Long Island, from January 1984 to the French Open eluded him, al- of $43.3 million. TENNIS magazine with Mr. Sampras winning 20 of completed his undergraduate stud- ary 23 that Mr. Perlegos shares at July 1998, pocketing a $42 million though he reached the semi-finals named him the greatest tennis the 34 matches they played. Mr. ies in college-level mathematics by Atmel fell 6.3 percent to $84.4 mil- severance package after a contro- in 1996. Mr. Sampras’ aggressive player from 1965 through 2005, Sampras married American actress the time he was 16; was accepted at lion, and chip maker Microchip versial parting of the ways at the strategies worked best on fast sur- and he was inducted into the Inter- and former Miss Teen USA Brid- MIT; and was listed in “Who’s Who” Technology announced on Febru- time. Dr. Catacosinos also served as faces – like hardcourts (U.S. Open) national Tennis Hall of Fame on Ju- gette Wilson on September 30, for young Americans. He chose to ary 10 it was no longer interested a director of Preservation Services and grass (Wimbledon) – but were ly 17, 2007. Mr. Sampras was born 2000. Their son Christian Charles attend LIU C.W. Post to stay close to in buying Atmel (after making an Inc., a company in St. Petersburg, less effective on slow surfaces like in Washington, DC. He is the third was born in 2002, and the couple his family, but had to pull out of col- offer to buy Atmel for $5 a share in Florida which researches, develops clay. As a result, he dominated son of Sammy and Georgia Sam- welcomed their second son Ryan lege due to the untimely death of October). Atmel’s current market and markets preservatives and Wimbledon, but never won the pras. His mother is a Greek immi- Nikolaos in 2005. Mr. Sampras has his father. He worked several jobs value is $1.4 billion, according to preservative technologies for food, French Open, which is played on grant. His paternal grandfather is helped raise millions for charity. to help support his mother and two the New York Times, which listed sisters, joining the U.S. Marine its 52-week high and low at $4.70 Corps in 1982. He was on tour in and $2.50 a share from March Lebanon during bombing of Marine 2008 to March 2009. Despite the barracks in Beirut in 1983 under conflicts at Atmel, Mr. Perlegos re- mains a force in Silicon Valley. Ana- What Happened to Large Bills? lysts have watched him evolve from a brilliant engineer at Intel into a respected leader of a billion-dollar We all know who’s on the $1, $2, $5, $10, $20, $50 and $100 bills. public company. Atmel’s IPO (ini- But how many of us know or recall that U.S. currency also came in much tial public offering) increased his higher denominations? net worth by millions. The $500, $1000, $5,000 and $10,000 bills showed the faces of William McKinley, Grover Cleveland, James Madison and Salmon P. Chase, Secretary of the Treasury under President Lincoln who intro- 49. WILLIAM J. duced the modern system of bank notes. CATACOSINOS, PH.D To the left is the $100,000 bill, which shows the portrait of Woodrow $80 MILLION Wilson. Never released into circulation, and used only in fiscal channels MINING AND ULTILITIES by the Federal Reserve (and in displays at museums and casinos), “only” 42,000 ($4.2 billion) of them were printed in 1934 as gold certificates Dr. Catacosinos, 77, is a director (for easier transfer than $100,000 in gold bullion). of International Coal Group, a lead- Still legal tender, high-denomination notes were last printed in 1945. ing producer of coal in Northern They were recalled in 1969, and taken out of circulation. The issuance of and Central Appalachia and the Illi- bills greater than $100 was discontinued due to lack of demand, and al- nois Basin. ICG has 13 active min- so to combat counterfeiting and cash flow for organized crime by mak- ing complexes; employs more than ing large-scale cash transactions obsolete. 2,220 people; and controls over a Collectors consider old currency in decent condition to be a good in- billion tons of high-quality coal re- vestment, kind of like a savings bond that matures quickly. A nice $1000 serves. As of December 31, 2006 bill, for example, can fetch $6900 or more at an auction. President Reagan. A highly deco- ICG owned or controlled approxi- rated veteran due to his combat service with 24th Marine Amphibi- ous Unit in Beirut, Mr. Leon- takianakos was honorably dis- charged in 1985. From 1985 to 1992, he worked in the investment banking industry, employed by such firms as Gateway Financial Group, Euro-Atlantic Securities and Cohen & Cohen. In 1992-93, he served as vice president of Merg- ers & Acquisitions for American Public Companies. From 1993 to 1995, he served as executive vice president of Corporate Finance and president of Global International Equity Corp., where he arranged funding for several public and pri- vate companies and managed a $398 million portfolio of assets on behalf of Global Security Credit LTD. From 1995 through 2000, he served as managing director of Cor- porate Finance and as CEO of Odyssey Capital & Research Group Inc., where he created and imple- mented investment structures which have facilitated more than $5 billion in private investments. In 1999-2000, he served as director and executive VP of BioTherapeu- tics Inc., and has also served as gen- eral partner of Ares Venture Part- ners since its inception in 2000. In that time, he managed to “piece- meal” his MBA together, taking courses at various institutions over an 11-year period. Mr. Leon- takianakos also has real estate in- terests stateside and abroad, and is the founder the Children’s Re- search Institute for Personalized Medicine, a nonprofit charity which helps children locate and se- cure alternative treatments in ter- minal cases. He and his wife Angel- ica reside in Long Island and have three children.

48. GEORGE PERLEGOS $100 MILLION ELECTRONICS

Mr. Perlegos, 46, was chairman & CEO of Atmel Corporation, a global leader in the manufacturing of semiconductors and flash memo- ry devices based in San Jose, Cali- fornia. He was born in Tripolis, Greece. His family came to the United States when he was 12 years of age. He bootstrapped At- mel in 1984 with $23,000 of his own money. The company designs, develops, manufactures and sells a range of integrated circuits prod- ucts, including microcontrollers and advanced logic, mixed-signal, nonvolatile memory and radio fre- quency components. Mr. Perlegos was terminated in August 2006 af- ter an eight-month investigation. The board of directors accused him and his brother Gust (an executive vice president of the company) of spending $235,000 in company funds on airplane tickets for them- selves and their immediate fami- lies, although the Delaware Chancery Court expressed its “dis- comfort with the thoroughness and fairness of the investigation and with the decisions.” Mr. Perlegos called a meeting to replace five of the existing board members, which the board attempted to cancel. In March 2007, the Delaware Chancery Court ruled that the shareholder meeting must proceed, but this action was completed after Mr. Perlegos was removed as presi- 22 Wealthiest Greek Americans 2009 THE NATIONAL HERALD, MARCH 14, 2009