Yiannis Latsis facts for kids

Yiannis Latsis (1910–2003), also known as John Spyridon Latsis, was a very successful Greek businessman. He became famous for his huge wealth, powerful friends, and for helping many people.

In 2003, the year he passed away, Forbes magazine said Yiannis Latsis was the 101st richest person in the world. His fortune was estimated to be about $5.4 billion.

Early Life and Career

Yiannis Latsis was born in Katakolo, a small fishing village in Greece, on September 14, 1910. He was one of nine children. He studied at the Pyrgos School of Commerce and later at a school for Merchant Navy Captains.

He began his career working on ships as a deckhand. He worked hard and eventually became a ship's captain. After World War II, Latsis started his own shipping business. He bought used passenger ships to transport people along the coast.

One of his most famous ships was the Neraida. This Italian-built passenger ship sailed in the Argo-Saronic Gulf from 1950 to 1974. Today, the Neraida is a floating museum. It tells the story of Latsis's business journey.

Growing His Business

Yiannis Latsis bought his first cargo ship in 1938. By the 1960s, he owned a large group of ships. In 1955, he bought a cargo ship called the Marianna. Three years later, he got his first oil tanker, the Spyros. This ship carried liquid molasses from Egypt to Greece and the UK.

Over the next few years, his fleet grew much bigger. He added more passenger ships, cargo ships, and oil tankers. By the 1990s, Latsis owned one of the largest shipping fleets in Greece.

In the late 1960s, he started new types of businesses. He got into the oil industry by creating a company called Petrola. He also started construction companies. His companies built oil refineries in Greece and Saudi Arabia. Later, he expanded into banking and financial services.

Latsis also invested in managing luxury yachts. He even started his own private airline, LatsisAir, which was later called PetrolAir. In the early 1980s, he bought a small bank in Geneva called Banque de Dépôt. This bank grew into EFG International Bank. It is now one of the largest private banks in Switzerland.

His European Financial Group owns banks in the United Kingdom, Switzerland, Monaco, the Channel Islands, and Greece.

Important Connections

Yiannis Latsis was known for having many influential friends. In 1990, he hosted the G7 Economic Conference in London. He was a close friend of Charles, Prince of Wales. He lent his luxury yacht, the Alexandros, to Prince Charles twice. Once in 1991 for a trip with the Princess of Wales, and again in 2002.

He also lent his yacht to other famous people. These included former President George H. W. Bush, Colin Powell, and actor Marlon Brando. He also had strong connections with the royal family of Saudi Arabia.

Helping Others

Yiannis Latsis was also known for his charitable work. In 1970, he started the Latsis Scholarships Institute. This helped many students get an education. He also provided aid to people affected by earthquakes. He created the Latsis Foundation to support various good causes.

After he passed away in 2003, his family continued his charitable work. They founded the John S. Latsis Public Benefit Foundation. This foundation took over the scholarship fund and all the family's other good deeds.

Awards and Recognition

Yiannis Latsis received several important awards. He was given the Golden Cross from the Ecumenical Patriarchate of Constantinople. He also received the Grand Cross of the Order of the Phoenix from Greece. These awards recognized his achievements and contributions.

Family Life

Yiannis Latsis was married to Erietta Tsoukala. They had three children: Spiros, Marianna, and Margarita. His son, Spiros, continued to manage the family's businesses. His grandson, Paris Latsis (Marianna's son), was once engaged to Paris Hilton.