Spiro Latsis’s profile picture

Spiro Latsis

Spiro Latsis’s profile picture
Net worth 2018: $3.06 Billion
Industry: Diversified
Residence: Geneva, Switzerland
Country: Greece
BirthDay: 1 January 1946
Sigh: Aquarius
Children: 2
Education: Doctorate, London School of Economics
BIOGRAPHY

Spiro Latsis was bornon 1 January 1946 in Geneva, Switzerland, Greece. Spiro Latsis is #725 in List Billionaires People In The World. Spiro Latsis has been managing the family fortune since his father, Greek shipping tycoon John S. Latsis, passed away in 2003. The family still has a foot in the shipping business through Latsco Shipping, which owns a fleet of more than a dozen oil tankers and liquefied petroleum gas carriers. But the bulk of their wealth is now invested elsewhere in companies like EFG International, a Zurich-based private banking group where Latsis is a board director. The family also owns a substantial stake in oil company Hellenic Petroleum and Lamda Development, a publicly traded real estate developer active in southeastern Europe. Latsis is a three-time graduate of the London School of Economics and a board trustee of Princeton's Institute for Advanced Study.

NET WORTH STATISTIC
2009

$3.8 Billion

2010

$5.3 Billion

2011

$4.8 Billion

2012

$2.6 Billion

2013

$3.3 Billion

2014

$3.2 Billion

2015

$2.4 Billion

2016

$2 Billion

2017

$1.9 Billion

2018

$3.06 Billion

TIMELINE
Spiros J. Latsis (Greek: Σπύρος Λάτσης; born 1946) is a Greek business magnate. He is the son of the late tycoon Yiannis Latsis, who died in 2003.Spiro Latsis is the son of Yiannis Latsis and Erietta Tsoukala. He has two sisters, Marianna and Margarita Latsis. He was educated at the London School of Economics (LSE) where, in 1968, he obtained a bachelor's degree in economics. In 1970, he received a master's degree in logic and scientific method. He went on to pursue his doctorate and obtained a PhD in philosophy from the LSE in 1974.His father John Latsis started building the family fortune in 1938 as a trader and later a ship-owner. He grew his business into a fleet of ships by the 1960s. He built up a number of business interests in the areas of shipping, real estate, construction and oil, plus banking and finance. Latsis joined the family business initially in the banking arm.From 1989, Latsis became a director of some companies within the EFG Group, the family banking Holding Group, including Private Financial Holdings Limited which became EFG Private Bank Limited in London, and EFG Consolidated Holding SA in Luxembourg. The following year, he also assumed the role of director of Eurofinanciere d’Investissements SAM in Monaco and became a non-Executive Director of Eurobank Ergasias SA in Athens. Dr Latsis officially assumed the role of Chairman of the EFG Group in 1997.After the death of his father in 2003, Latsis took over the direction of the Latsis Group of companies. Since that time, Latsis, while remaining Chairman of EFG Bank (the family bank holding company) has become a director of EFG International and Consolidated Lamda Holdings, serves as President of Societe d’Etudes et Economiques in Geneva, and is Chairman of several other companies including Paneuropean Oil and Industrial Holdings S.A. in Luxembourg.In 2015 Latsis was the second wealthiest Greek, ranked #782 on the 2015 Forbes list of the world's richest people. Latsis saw his wealth significantly decline during Greece's recession, with stocks of his EFG Eurobank, Lamda Development and Hellenic Petroleum all falling significantly in 2011, but recovered in 2013. Latsis invited the President of the European Commission, José Manuel Durão Barroso, who had been a student friend at the London School of Economics, to be a guest on his yacht. Subsequently, allegations were made in the press that this somehow influenced Commission decisions but these have been disproved.The family's largest holding is its EFG Bank European Financial Group in Luxembourg, a private banking group that operates in many jurisdictions. The Group holds over 40% of EFG International listed in Switzerland on the Zurich Stock Exchange, which is a global private banking group offering private banking and asset management services. EFGI's group of private banking businesses operates in around 30 locations worldwide, with 3,572 employees and manages CHF144.5bn of client assets as at 31 December 2016.The Latsis family fortune, managed by Spiro Latsis, includes more than 42% in Hellenic Petroleum, a major petroleum player in Southern Europe, through its ownership of Paneuropean Oil and Industrial Holdings S.A.. The Latsis group also controls Lamda Development, a real estate group based in Athens. Lamda Development projects include The Mall Athens, which opened in 2005, and Golden Hall Mall, also in Athens. Latsis also started PrivateAir, a jet charter service with over 50 planes in its repertoire serving affluent European and American travelers, and which he has since sold.In 2006 Latsis received an honorary doctorate from Witten/Herdecke University in Witten, Germany recognizing his work in the field of economics.In addition to his various business holdings, Latsis (with his family) helps to fund the John S. Latsis Public Benefit Foundation and the International Latsis Foundation in Geneva. In 2012, he transferred around $300 million of his Greek banking stock holdings to various members of the Latsis family, with a contribution also going to the Foundation.The John S. Latsis Public Benefit Foundation helps to fund programs in the areas of education, scientific research, social welfare, and culture. The Geneva Foundation funds five scientific awards per annum as well as a number of conferences at the Swiss Polytechnic Institutes in Lausanne and Zurich as well as the University of Geneva.
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