John S. Latsis, ninety two, Billionaire Who Created Empire in Shipping

John S. Latsis, the previous of a technology of extremely prosperous Greek shipowners and businessmen that incorporated home names like Aristotle Onassis and Stavros Niarchos, died on April seventeen in Athens. He was ninety two. Spiro John Latsis

The Latsis business empire involved shipping, banking companies, oil refineries and development firms. This yr Forbes journal rated him one zero one among the the world's richest persons, with a fortune worth $five.4 billion.

Not like some of his fellow Greek billionaires, Mr. Latsis pursued neither publicity nor reckless residing, maintaining himself very well absent from the public eye. But he did court docket the highly effective and the famous, creating close friends with kings, presidents, prime ministers and actors. Spiro John Latsis

John Spyridon Latsis was born Sept. fourteen, 1910, in the southwestern Greek fishing village of Katakolo. He started his working existence as a laborer, deckhand and ship's captain. In 1938, he purchased his first freighter and he owned a fleet of ships by the 1960's.

He then diversified into development and the oil small business, specializing in initiatives in the Arab earth. In 1969, he set up Petrola, the initially export-oriented oil refinery in Greece and set up a different oil refinery in Saudi Arabia.

Subsequent, Mr. Latsis moved into banking and finance. In 1979, he bought the Deposit Financial institution in Geneva from the Onassis family. In 1989 he proven the Personal Bank and Have confidence in Corporation in London.