7 Greeks make the Australian Financial Review Rich List 2017

Prestigious Australian publication The Financial Review (AFR) has released their annual “Rich List” and seven Greeks are listed amongst the wealthiest 200 people in Australia for 2017. Ranking top spot amongst the Greeks and coming in at 49th place is Con Makris, whose fortune is estimated at 1.17 billion dollars.

1. Con Makris

Ranked 49th on the list is Con Makris, who immigrated from Greece in the early 1960s. He settled in Adelaide and built up a chain of chicken shops across South Australia and Victoria, which he sold in the 1980s to fund the purchase of his first shopping centre.

“After 45 years building his fortune in Adelaide, Makris has moved to the Gold Coast. The chairman of retail property developer Makris Group says the business will now focus on Queensland. Makris arrived in Adelaide as a teenager in 1964 and started out with a fi sh-and-chip shop and then a barbecue chicken chain, before selling that operation in the early 1980s and buying a shopping centre. Makris Group now owns retail centres in South Australia, Queensland and Victoria. Makris bought the Marina Mirage shopping centre on the Gold Coast in 2013 and also owns The Oracle at Broadbeach. He is stepping back from day-to-day management and has appointed an advisory board to oversee the group’s future.” AFR

2. Nick Politis

In the 82nd spot is Nick Politis has an estimated fortune of 879 million dollars. Nick Politis is a major shareholder and director of listed car dealership company AP Eagers.

“Politis is one of the kings of the car industry in Australia but is best known for his power-broking role in rugby league. He is the long-time chairman of the Sydney Roosters NRL club and set the precedent in Australia for sports sponsorship in 1976. Politis made his fortune from the City Ford dealership in Sydney, and his WFM Motors business now owns car yards across NSW and Queensland. His largest asset is a stake in listed car dealer AP Eagers, which has dropped in value in the past year, and he also has substantial property holdings. Last year Politis bought a building in Brisbane’s CBD for $15.5 million and a block in Parramatta, Sydney for more than $40 million.” AFR

3. Theo Karedis

Taking spot 86 is Theo Karedis who has a fortune of 723 million dollars. He sold Theo’s Liquor to Coles Myer in 2002 for a reported $175 million in cash and shares.

“Like many Rich List members, Karedis made his fortune in one industry and subsequently ploughed the proceeds into property. His start in business came after moving to Sydney in 1955 from the Greek island of Kythera, opening a delicatessen in Neutral Bay. He later established the Theo’s Liquor chain, which was sold to Coles in 2002 for $175 million in cash and shares. At the time, Theo’s was the fourth largest liquor retailer in Australia. The Karedis family wealth is now held in Arkadia Property Services, which owns pubs, hotels and homemaker centres. The portfolio includes the Sofi tel Noosa, Crown Plaza Terrigal and Manly Pacifi c Novotel, some of which are owned with the Laundy family.” AFR

4.Harry Stamoulis

Harry Stamoulis and Family is ranked 103rd with 646 million dollars. The Stamoulis family fortune has its origins in the Gold Medal Soft Drink company, established by the late Spiros Stamoulis.

“Property developer Stamoulis Group owns projects in Melbourne’s Fishermans Bend district and offi ce blocks in the CBD. Stamoulis, who heads the company, bought One Collins Street from fellow Rich List member Robert Magid for $125 million in 2016, just after he offl oaded a South Yarra building for $92 million. His late father Spiros sold his Gold Medal soft-drinks business to Cadbury-Schweppes in 2004 before moving into property. The family owns 3XY Radio Hellas and the Ta Nea Greek-language newspaper as well as Melbourne’s Hellenic museum. Harry Stamoulis has backed the push forTasmania to join soccer’s A-League, after previously serving as a director of the Melbourne Victory FC.” AFR

5.Kerry Harmanis

Ranked 104th place with a 640 million dollars fortune is Kerry Harmanis. The former barrister made about $500 million from the sale. Harmanis dropped his legal career for prospecting on the goldfields in the 1970s.

“The former barrister made his fortune from the well-timed $3.1 billion sale of Jubilee Mines to Xstrata in 2007 and has maintained a low profi le since. But his name has surfaced as a major shareholder in several junior mining stocks, including Alicanto Minerals, Capricorn Metals, Duketon Mining and Kin Mining. Each has risen substantiallyin value over the past 12 months. The sale of Jubilee Mines, which Harmanis founded in 1987, came as nickel prices were trading at record highs, and he reaped about $500 million from the deal. His father Louis sparked the young Harmanis’ interest in mining, having helped to develop the Frances Creek iron ore mine south of Darwin.” AFR

6.Spiros Alysandratos

Placed 118th with 582 million dollars is Spiros Alysandratos who arrived to Australia in 1959 from the island of Kefalonia.

“Though he keeps a low profile, Alysandratos is one of the major operators in the Australian travel industry. He has a stake in the listed Helloworld travel business, and is chief executive of the private Consolidated Travel Group, which provides wholesale ticketing services to travel agents and back-office operations to foreign airlines in Australia. Alysandratos started the business in 1967 and also owns half of the Express Travel Group, which includes travel agencies and a travel marketing distribution business. His investment interests include a portfolio of commercial buildings in Melbourne’s CBD, which takes his valuation higher this year.” AFR

 

7.George Koukis

George Koukis is number 199 of the list. His fortune is estimated at 342 million dollars. Greek-born George Koukis is founder of banking software company Temenos.

“More regulation for banks and fi nancial services means more work for Swiss banking software group Temenos, which has proven to be a great deal for Koukis. Born in Greece, Koukis headed to Australia in 1971, where he studied commerce and information technology. He worked for retailer Waltons and then in the IT department at Qantas in the 1970s before going into business in the late 1980s. He bought what is now Temenos for less than $1 million in 1993 with the backing of a Hong Kong investment bank, and fl oated it on the Swiss stock exchange in 2001. Temenos shares hit a record high this year, and although he is no longer chairman, Koukis remains a director and shareholder.” AFR

*For the Full “Rich List 2017” in the Australian Financial Review (AFR) click here:  afr.com/leadership/afr-lists/rich-list

 

GCT Team

This article was researched and written by a GCT team member.

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