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| Subject: John Latsis, Shipping Billionaire | |
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Author: Greece |
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Date Posted: April 18, 2003 12:07:51 EDT John Latsis, the last of Greece's shipping billionaires from the postwar boom years whose staggering wealth was used to aid the needy and gain access to world leaders, died Thursday. He was 93. The Latsis Group confirmed his death but gave no details of the cause or place of death. Latsis' business empire -- which included shipping, banks, refineries and construction companies -- was worth more than $5 billion by some estimates. His son, Spyro, had taken over most of the family business duties in recent years. In 1999, Forbes magazine rated him the world's 63rd richest individual with a value of $5.4 billion. The elder Latsis' list of acquaintances was equally impressive: kings, presidents, prime ministers, famous actors. But he did not share the passion for publicity or reckless living that marked the lives of contemporaries such as the late magnates Aristotle Onassis and Stavros Niarchos. Latsis took great pains to remain out of the public eye. He rarely gave interviews, leaving the media to glean what they could from snippets in newspapers about his business ventures. Born Sept. 14, 1910, in the fishing village of Katakolo in southwestern Greece, Latsis' first jobs were as a laborer and deck hand. Slowly he worked his way up the ladder of the merchant marine, becoming a captain and later a shipowner. He eventually expanded into construction, undertaking major projects in Arab countries to open vital links with some of the world's main oil producers. In 1969, Latsis established Petrola, the first export-oriented oil refinery in Greece. He also built and operated a major refinery in Saudi Arabia. Latsis also owned a number of European banks, including London's Private Bank and Trust Company. He had homes in Athens, London and Geneva, but tried to keep evidence of his wealth to a minimum. Britain's Guardian newspaper once described Bridgewater House, Latsis' London home near Buckingham Palace as looking "almost absurdly accessible and a bit scruffy." But inside Bridgewater House, Latsis' guest list included some of the most famous and powerful people in the world. He regularly entertained heads of state and royalty, including members of the Saudi royal family. He angered some Greeks by maintaining a close relationship with Greece's deposed monarch, Constantine. Latsis also caused a storm in British politics when it was revealed that in 1991 he had donated money to the then-ruling Conservative Party. Newspapers and opposition parties demanded to know what he would ask in return. Typically Latsis -- who was notoriously blunt spoken -- did not respond. He provided his 400-foot yacht, The Alexandros, for Britain's Prince Charles and the late Princess Diana for a second honeymoon in 1991. Last year, Charles and his longtime love, Camilla Parker-Bowles, toured the Aegean Sea aboard the same vessel, dubbed the "Love Boat" by British tabloids. The ship also was used by former President George Bush and his family, retired Gen. Colin Powell and actor Marlon Brando. But hosting celebrities and power brokers was not the only diversion for Latsis, who often wore a gold-braided captain's hat. Latsis also used his vast fortune for philanthropy. He founded the Latsis Foundation while he made large donations to earthquake victims in Greece, Egypt and Armenia, while he also gave money to the Greek state for the purchase of fire planes. In 1986, Latsis dispatched the 20,000-ton cruise ship, the Marianna 9, to the southern Greek city of Kalamata to provide shelter for more than 900 people left homeless following a devastating earthquake. He is survived by his wife Erietta Tsoukala, two daughters and a son. Funeral arrangements have not been announced. [ Next Thread | Previous Thread | Next Message | Previous Message ] |
| Subject | Author | Date |
| Re: John Latsis, Shipping Billionaire | Patti French | November 12, 2004 12:07:14 EDT |