NEW YORK – Eight Greek-Americans, led by John Paul DeJoria with a net worth of $4 billion and John Catsimatidis at $3.1 billion, are on the 2014 Forbes 400 – The Richest People in America list that is topped by Bill Gates. AT $72 billion, Gates reclaimed the top spot from Mexico’s Carlos Slim.
Warren Buffet, Larry Ellison, and the Koch Brothers, Charles and David, round out the top five positions on the list. Bill Gates, at 58 years old, is the youngest in the top 10, and former New York mayor Michael Bloomberg is number 9 at $31 billion.
The National Herald will publish its annual list of The 50 Wealthiest Greek-Americans in its March 8-14 edition.
DeJoria, 70 years old, who is also of Italian descent, is number 110 on the list. He lives in Austin, TX and built his fortune selling hair products and tequila. Catsimatidis, who made his first foray into electoral politics last year by running for mayor of New York, is 65 years old and has holdings in oil, real estate, and supermarkets. He is number 161.
James S. Davis, whose listing as number 161 includes his family’s wealth, is the owner of New Balance running shoes. He is 70 years old and lives in Newton, MA.
Tom Gores of Beverly Hills has amassed $2.7 billion in the private equity business and is 201st on the list. At 49 years old, he is the youngest Greek-American. His 60 year old brother Alec Gores, is also in private equity and his $2 billion places him at number 273.
George Argyros, 77 years old, of Newport Beach, CA, is tied at 260 with 12 other people, including media mogul Ted Turner. Real estate and investments account for his $2.1 billion.
Michael Jaharis, 85 years old, is a titan in the pharmaceutical industry and ranks number 273 with $2 billion. He and his wife Mary have also distinguished themselves as philanthropists. They live in New York City.
Concluding the Greek-Americans on the list is, at number 386, 67 year-old investor C. Dean Metropoulos, whose wealth is listed at $1.3 billion
According to Forbes, Warren Buffet’s net worth had the biggest increase, adding $12.5 billion to his fortune. Facebook’s Mark Zuckerberg’s fortune increased by $9.6 billion, which put him back in the top 20.
The accompanying article notes that “Five years after the financial crisis sent the fortunes of many in the U.S. and around the world tumbling, the wealthiest as a group have finally gained back all that they lost. The 400 wealthiest Americans are worth just over $2 trillion, roughly equivalent to the GDP of Russia. That is a gain of $300 billion from a year ago, and more than double a decade ago. The average net worth of list members is a staggering $5 billion, $800 million more than a year ago and also a record. The minimum net worth needed to make the 400 list was $1.3 billion. The last time it was that high was in 2007 and 2008, before property and stock market values began sliding. Because the bar is so high, 61 American billionaires didn’t make the cut.”
See the complete list at: www.forbes.com/forbes-400/list/
Clockwise from top Left: Uber-successful Greek-Americans on Forbes list: John Paul DeJoria, John Catsimatidis, Jim Davis, George Argyros, Michael Jaharis, and C. Dean Metropoulos.