Profiles of the richest Greeks around the world are now gracing the pages of a brand new magazine shedding light on the crème de la crème of the Greek and Greek Cypriot community worldwide.
Many will be familiar with the first edition of the Greek Rich List that hit the shelves in 2007 featuring Britain’s top 50 Greek and Greek Cypriot millionaires. The updated list now boasts over 300 profiles from around the world.
“The concept of our magazine is to celebrate and document entrepreneurial stories; to inspire young entrepreneurs and promote Greek culture and heritage,” says publisher of the Greek Rich List, Savvas Pavlou.
The magazine has been printed in the UK with research based in Cyprus and including collaborations with a wide range of credible global companies. “We also used sources like Forbes and The Sunday Times Rich List as part of the research,” explains Pavlou.
But one has to wonder how accurate the current sums printed can be in light of the global recession which automatically means a person’s wealth is far from stable. According to Australia’s Business Review Weekly, the world’s number of individual billionaires fell by a staggering 45 per cent through 2008. “It was one of the hardest things to do as logistics are always changing during times of recession. But we’ve tried to be as accurate as possible with conservative ball part figures,” Pavlou points out.
“Greek Rich List is proud of our heritage and endorses the success of Greeks and Greek Cypriots around the world through the publication of the magazines,” he adds. “We do not suggest being wealthy denotes success: there are many people in various vocations around the world that are successful but do not make vast amounts of money.”
In this light, the edition includes personalities that have made a name for themselves but have not necessarily made it onto the billionaires’ or millionaires’ list.
Below is a list of ten of the Greeks and Greek Cypriots featured in the magazine that we find the most interesting.
The ‘Cypriot’ Billionaire- Wealth: €2.7 billion
The island’s richest man is actually Norwegian according to this book, with John Fredriksen (owner of the world’s largest oil tanker fleet) in possession of a Cypriot passport. He was Norway’s richest man until 2006 when he chose to take up a Cypriot nationality, reportedly because of the favourable laws on inheritance tax. Fredriksen now owns property in Limassol and has made it onto the Forbes billionaire list as a Cypriot.
The son of a welder from Oslo, Fredriksen began his career as a trainee in a ship brokering company. He then started his own business at the age of 27 and made his fortune during the Iran-Iraq wars in the 1980s when his tankers picked up oil at great risk and huge profit. He is now the world’s largest tanker owner and one of the richest men in the world, with more than 70 oil tankers under his name.
Orianthi Panagaris
She may not yet be basking in millions and hasn’t made it onto the rich list, but anyone who has watched the ‘This is It’ Michael Jackson tribute film will have no doubt been taken aback by his blonde lead guitarist who gave it her all in the rehearsals leading up to the tour before Jackson’s death. As it turns out, this huge talent is a girl of Greek ancestry born in Adelaide, Australia, in 1985.
Now living in Los Angeles, the 24-year-old has also played with Prince at the Eric Clapton ‘Crossroads Guitar Festival’ and has been named as one 12 Greatest Female Electric Guitarists worldwide. She also played and sung live at Jackson’s memorial.
The Haseotis Family- Wealth: €3.2 billion
The richest Greeks in the USA started it all by buying a dairy farm in Rhode Island for $84 in 1938. It eventually grew to become the largest dairy operation in Massachusetts and by the 1950s the family started to open up convenience food stores. By 1967, there were some 8,000 of these stores with more than $1 billion per year in sales. By the early 1990s, Cumberland Farms ranked third in the country’s convenience store food chains and today has grown to become a multi billion dollar corporation.
Stephen Lazarides- Wealth: £12 million
Could it really be possible? Is Banksy, renowned graffiti artist, really Cypriot?
According to the Greek Rich List it’s a possibility. Although the elusive graffiti artist’s identity has notoriously been kept under wraps, several commentators have claimed that 40-year-old Stephen (the son of a Greek Cypriot from Famagusta) may just be the man behind some of the world’s most talked-about works of graffiti.
The only thing we know as fact is that Stephen is the man responsible for setting up Banksy’s website and is the sale agent for his prints. He is also a photographer of note, founding PYMCA, a photo library of British youth culture. As for him also being the actual Banksy himself, nothing can really validate the rumours. Whatever the case, Stephen has a fast-growing fortune: 2007 to 2008 saw his company make a handsome £2.9 million profit, with him still owning the £12 million operation. This ranks him as Britain’s 48th wealthiest Greek.
Theo Paphitis – Wealth: £145 million
This judge on the highly popular UK Business Talent Show Dragon’s Den stands as the 12th richest Greek in the UK. Born in Limassol in 1959, he went to England with his parents at the age of six. He left school at the age of 16 to make teas at a Lloyd’s insurer. Various random jobs followed and at the age of 23 he decided to set up a business in property and finance with a friend which then led to Paphitis teaming up with property group, Hanover Druce. Bored with property, he soon went on to specialise in turning round companies in trouble working with Ryman stationers and La Senza lingerie chains among other brands. He still owns a majority stake in Ryman and also controls Partners stationers.
George Korres
Another business man who may not have yet made it onto the ‘richest’ list but has certainly made a huge enough leap in the past few years to deserve attention. The maverick entrepreneur and founder of the Korres cosmetics company, George decided to make optimum use of Greek herbs and other local ingredients for his products free of mineral oils and silicone. Launched in 1996, his products are distributed through a network of more than 3000 pharmacies in Greece, and are now also available in 35 countries worldwide.
Panico Panayi – Wealth: £72 million
This British Cypriot made his millions from Bingo, setting up his first bingo hall in Preston in 1970 with his business growing to become the largest independent chain in north England, attracting two and a half million visitors each year. Panayi then sold his Buckingham bingo chain to venture capitalists in 2005 for £90 million and is now investing heavily in Romania making him the 19th richest Greek in the UK.
Anthony Green and Family – Wealth: £165 million
Imperial Leather and Carex soap makers, this family made their fortune as one of the founding families which controls the Cussons Company. Also owners of the Charles Worthington and Original Source personal care brands, the UK Stockport-based business was originally founded in 1884 by a Greek entrepreneur to engage in trade with Nigeria. Chairman Anthony Green took over the company from his uncle in 1993.
Dimitris and Ketty Koutsolioutsos
“Affordable fashion is luxury” is the main idea behind Follie Follie jewellery, a company set up by the Greek Koutsoliotsos couple in 1982, now active in more than 25 countries with more than 250 points of sale worldwide. The couple haven’t quite made it onto the rich list but are certainly not doing badly, acquiring the British ‘Links of London’ in 2006. Focusing on the ever-changing collections of stylish jewellery, Follie Follie designs contemporary wearable designs and watches, as well as leather handbags, wallets, scarves and sunglasses.
Rita Wilson – Wealth: $200 million
This film and stage actress ranking as the 43th richest Greek in America (two places higher than Jennifer Aniston), is also known as the wife of superstar Tom Hanks. The 52-year-old actress was born in Los Angeles as Margarita Ibrahimoff. Her father was a Pomak born and raised in Greece while her mother was born and raised in a Greek village on the Algerian border.
Wilson is often credited with being the driving force behind Nia Vardalos’ smash hit movie, My Big Fat Greek Wedding which became the highest-grossing independent film of all time. She has also appeared in a stream of films including Sleepless in Seattle, That Thing You Do and Runaway Bride. Married to Tom Hanks since 1996, their combined net worth exceeds $200 million.
The Greek Rich List magazine can be purchased online at www.greekrichlist.com and at selected outlets across the island. The magazine can also be purchased at Paphos and Larnaca airports.
