The 50 Wealthiest Greeks in America The price of commodities and stocks may go up and down, real estate holdings may fluctuate in value, today’s hot new website may become obsolete in months, and the global economy may throw in its own challenges, but the spirit of innovation and entrepreneurialism always endures. This special issue offers a look at the people from our community who have found opportunity where others found obstacles, who have seen solutions where others only spotted questions. Whether in the fields of technology or investments, in the realm of oil sales or industrial production, we bring to you here 50 inspiring portraits of Hellenes with vision and lead - ership. The 2012 list has undergone some big upheavals, as we have factored in - when including people in the list - not just the bottom line, but also the extent of Greek community involvement as a part of wealth. This means there are many familiar faces, but a whopping one fifth of people on the list of our popular issue are new. The National Herald a b MARCH 17, 2012 www.thenationalherald.com 2 50 WEALTHIEST GREEKS IN AMERICA THE NATIONAL HERALD, MARCH 17, 2012 The National Herald John and Mary Pappajohn: A weekly publication of the NATIONAL HERALD, INC. (ΕΘΝΙΚΟΣ ΚΗΡΥΞ), Entrepreneurs and Philanthropists in the Heartland reporting the news and address - ing the issues of paramount interest to the Greek American community By Constantine S. Sirigos college and then sold the store.” of the United States of America. TNH Staff Writer For that element of entrepre - neurship that is not inherited, Publisher-Editor At 83, John Pappajohn is a Pappajohn has organized and fi - Antonis H. Diamataris bundle of energy and insight, nanced the John Pappajohn En - Assistant to Publisher, Advertising making more money than he trepreneurial Centers at five dif - Veta H. Diamataris ever did. But with his wife Mary, ferent universities and colleges Papadopoulos he is also giving away more of in the state of Iowa for more Special Section Editor it than ever. They have given than $10 million, and he just Angelike Contis away $100 million over the past undertook a commitment to do - Production Manager ten years. nate $10 million more. They Chrysoula Karametros Acumen and integrity. That’s have started over 2000 busi - the formula that has worked nesses in the state of Iowa and 37-10 30th Street, and he will not tamper with suc - given away $3.5 million in LIC, NY 11101-2614 cess. “They wouldn’t come scholarships. Tel: (718)784-5255, back,” if that weren’t the case, Always brimming with ideas Fax: (718)472-0510, he said of the people the famed and ready to seize opportuni - e-mail: venture capitalist with whom ties, he also learned to pay at - [email protected] has made deals. “They all make tention to other geniuses. “I Democritou 1 and Academias Sts, money. They are all rich.” went into venture capital in Athens, 10671, Greece Generosity is also an impor - 1969.” He told TNH he knew a Tel: 011.30.210.3614.598, Fax: tant element in his personal and substantial merchant in Des 011.30.210.3643.776, e-mail: professional life. “We are very Moines, IA, whom he ap - [email protected] fair, we share. Our employees proached about the investment make money, our secretaries fund he was establishing. The Subscriptions by mail : 1 year $66.00, 6 months $33.00, 3 months $22.00, too. That’s the name of the merchant told him, “I have a 1 month $11.00 game. We share.” friend in Omaha, his name is Home delivery NY, NJ, CT: Pappajohn has put together Warren Buffett. I’ve got a little 1 year $88.00, 6 months $48.00, more than 50 major public busi - money with him. If he says it’s 3 months $33.00, 1 month $14.00 ness deals. “Probably the most okay, I’ll give you a little money, Home delivery New England States, Washington DC, Virginia and Maryland : in the country,” said the man but he thinks we are going into 1 year $109.00, 6 months $57.00, who never interviewed for a job. a depression.” 3 months $41.00, 1 month $18.00 “I have always been an entre - He called up and excitedly On line subscription : Subscribers preneur,” he said, but he is far pitched Buffett himself, who to the print edition: 1 year $34.95, 6 months $23.95, 3 months $14.95; from being done. said, “son you’re making a big Non subscribers : 1 year $45.95, Still in venture capital, he mistake. I have liquidated all my 6 months $29.95, 3 months $18.95 said: “I’m doing the best deals venture funds.” He said Buffett ever and I have the best portfo - was right on, and he shifted to lio I ever had.” Along with suc - mergers and acquisitions until cess, he also cultivates his roots, John and Mary Pappajohn share a passion for contemporary art. They also love to donate the market opened up again being active in numerous com - pieces for everyone else to enjoy too. later in the 70s. munity endeavors. When Pappajohn dove into Pappajohn was born on the village of Aghios Lukas, like they ers took turns going to college. cess stories. Aristotle is in the venture capital, it was a brand island of Evia. His grandfather did for the Byzantine emperors, It took him six years, taking insurance business and Socrates new industry – he said at the was a priest and virtually every - and he picked his bride Maria some years off, but he had his is a practicing attorney. time he was one of only 30 or one in his mother and fathers’ out of the lineup. degree and $2000 in the bank After being graduated from 40 venture capitalists in Amer - families immigrated to Mason “Thirty days after that they and no debt. the University of Iowa with a ica – and he said that he got City, IA. As a major railroad were married and thirty days af - They would be proud that business degree, his first busi - very lucky early. junction with two cement plants ter that my mom is pregnant their son is a Greek-American ness project was to start an in - Pappajohn did a deal for a and other industries, opportu - with me.” She quickly distin - dream overachiever. He has four surance company, but his entre - company in San Diego, helping nities were abound. guished herself as the best honorary degrees – maybe the preneurial experience began them raise money. He ended up His father came over in steer - Greek cook in Mason City. “She most of any Greek-American much earlier. starting seven companies there, age at the turn of the last cen - made everything and they gave other than Peter G. Peterson. “As a kid I was a junker. I taking six of them public –while tury at a time when there were away food to everybody. My dad Like many successful Greek- would leave home with two he still lived in Des Moines. already 4,000 Greeks in Mason would typically bring needy Americans, Pappajohn will tell gunny sacks and I would do He said he relies on his in - City and opened a grocery store. people home for lunch.” you that his education included rags, copper, lead, brass, and stincts, but acknowledged they He went back to Greece to fight his time working in his father’s sell it at the junkyard. The do a lot of research. Pappajohn the Turks – “he was a palikari- CHARITY IS LEARNED store. “I was a meat cutter. My owner said I was his best cus - also has two brilliant young as - a brave fellow” Pappajohn said HOME younger brothers and I did more tomer. I did everything.” sociates and agrees 100 percent – but after the Asia Minor Dis - His father made a lot of than 50,000 chickens by hand. He obviously had an eye for with the philosophy, expressed aster, he returned to Mason City. money, but like many Greek We chased the chickens on the opportunity and value, but he by others in this issue like John In between he needed to find men he was a chain smoker and farm, put them in the coup and said his father taught him the Catsimatidis, that a key to suc - a wife, so, like many successful at age 54, he had a fatal heart took them back to the grocery vital lesson of frugality. “We all cess is hiring people who are Greek-Americans, he went back attack. Pappajohn’s mother had store to be butchered.” learned to save money. That’s smarter than you. in triumph and they brought out to learn English, but they kept Hellenism is in their genes, how we survived and kept the the eligible young women of the the store and he and his broth - in their names and in their suc - grocery store until we went to Continued on page 14 THE NATIONAL HERALD, MARCH 17, 2012 50 WEALTHIEST GREEKS IN AMERICA 3 As each has received a gift, employ it in serving one another, as good managers of the grace of God in its various forms. 1 Peter 4:10 Congratulations to the men and women in this speCial issue for Cultivating their talents to the benefit of our Community, the Country and the whole world. i wish them and future generations of helleniC leaders suCCess in their endeavors. emmanuel a. Kampouris 4 50 WEALTHIEST GREEKS IN AMERICA THE NATIONAL HERALD, MARCH 17, 2012 James Chanos, In Short-Selling for the Long Run By Angelike Contis at Gilford Securities.