TNH’s 50 Wealthiest
Greek-Americans 2018 List
We were happy to receive very positive feedback about last year’s Special Edition, and so we retained the same practices we used then for this new one, with appropriate updates as available.
This year’s edition, then, is much like last year’s, except it is bigger than ever!
A new entry into our rankings is Nikos Mouyiaris, who certainly would have qualified in previous years as well, but modesty prevented him from coming forward. This year, however, he wanted to make a statement about the importance of philanthropy, and so he is the subject of one of our two feature interviews.
As for the biggest portion of our Special Edition, the list of 50 of the wealthiest Greeks, we refer you to last year’s process, which we used again this year:
Americans love rankings, and Greek-Americans are no different. Our annual 50 Wealthiest Greek-Americans edition is, year after year, our most popular special issue of all. And the most popular part about it, the rankings, is actually the least important. Although The National Herald reached out to every person on this year’s list through the best available means possible, only a few responded, let alone took the time to provide their financial net worth or share other information about themselves. But some of the important information some made was about the general inaccuracy of the such numbers – not just our numbers, but any numbers, including those of Forbes, widely regarded as the “gold standard” of such rankings.
Many wealthy people are very private and do not like to be in the public eye at all. There may very well be a Greek-American reading this right now, who was not included on this list, but who has more money than anyone mentioned, and he or she is perfectly happy remaining under the radar. Others, in contrast, might want to overinflate their numbers for whatever reason. A perfect example of wild variations in estimated net worth is the case of President Trump, whose net worth at press time last year Forbes estimated to be $3.7 billion in 2016 ($3.1 billion this year). On the campaign trail in 2016, he said he was worth about $10 billion. Some have speculated that the reason he didn’t disclose his tax returns is because they would suggest an amount far below both of those figures, and he would look foolish in his boasting. Whichever version is true, the point is, numbers are just numbers.
That said, here is how we arrived at ours: the three categories are Primary (the person or his/her representative officially and publicly gave us the figure), Source (a particular source, such as Forbes, is named), or TNH Estimate (TNHE). The TNHE is based on unofficial and/or unconfirmed sources, or previous TNH figures adjusted for the average gain/loss of the total Primary or Source individuals from last year to this one.
Accordingly, in the spirit of good journalism, our duty to you, our readers, is to explain how we arrived at these figures and rankings, and leave it to you to determine what you think of them.
It is also important to pay careful attention to the title, “50 Wealthiest Greek-Americans.” It means 50 of the wealthiest Greek-Americans, not necessarily the top 50 wealthiest Greek-Americans. The latter would be a nearly impossible list to compile, for various reasons. First, there is no database anywhere in the world that can track all Greek-Americans, again, largely due to the privacy reason. Second, the way a name sounds can sometimes be misleading. For instance, our top-ranked individual, Jim Davis, doesn’t “sound” Greek at all, whereas two individuals with a far greater net worth, who would easily be numbers 1 and 2 on this list – Jeff Bezos and George Soros – both sound like they’re Greek, but they’re not.
Next, there is the important matter of philanthropy. There are many remarkable people featured in this issue who give away a great deal of money, and that causes them to drop in the rankings. We don’t think they should be “penalized” for that in anyone’s mind. As we advised last year, the best way to enjoy this issue is not to become too attached to the net worth numbers and the rankings, but rather to appreciate the biographies of these 50 individuals (or families), a few of whom are further featured in separate profile pieces herein. Finally, we invite you, once again, to enhance this list by letting us know of any information – including, perhaps, a particular Greek-American we may have overlooked – so that this Special Edition can continue to be better and better, year after year.
|Rank||Name||Worth||Made Money In||Last Rank|
|1||Jim Davis||$6 Billion||Chair – New Balance||1|
|2||Haseotes Family||$4.29 Billion||Convenience Stores||2|
|3||Tom Gores||$3.7 Billion||Equity Investment, Sports||4|