Aristotle Onassis

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Aristotle Onassis
Aristotle Onassis 1967cr.jpg
Onassis in 1967
Born
Aristotle Socrates Onassis

(1906-01-20)20 January 1906
Died15 March 1975(1975-03-15) (aged 69)
Resting place Skorpios Island, Greece
Nationality Greek
Citizenship Greek and Argentine
Education Evangelical School of Smyrna
Occupation
  • Shipping tycoon
  • businessman
Spouse(s)
Athina Livanos
(m. 1946;div. 1960)

Jacqueline Kennedy
(m. 1968)
Partner(s) Maria Callas (1959–68)
Children Alexander Onassis
Christina Onassis
Relatives Athina Onassis (granddaughter)

Aristotle Socrates Onassis ( /ˈnæsɪs, -ˈnɑː-/ ; [1] Greek : Αριστοτέλης Ωνάσης, Aristotelis Onasis; 20 January 1906 – 15 March 1975), [2] commonly called Ari or Aristo Onassis, was a Greek [3] [4] shipping magnate who amassed the world's largest privately owned shipping fleet and was one of the world's richest and most famous men. [5] He was known for his business success, his great wealth and also his personal life, including his marriage to Athina Mary Livanos (daughter of shipping tycoon Stavros G. Livanos). He was also known for his affair with famous opera singer Maria Callas and his 1968 marriage to Jacqueline Kennedy, the widow of American President John F. Kennedy. [6]

Greek language Language spoken in Greece, Cyprus and Southern Albania

Greek is an independent branch of the Indo-European family of languages, native to Greece, Cyprus and other parts of the Eastern Mediterranean and the Black Sea. It has the longest documented history of any living Indo-European language, spanning more than 3000 years of written records. Its writing system has been the Greek alphabet for the major part of its history; other systems, such as Linear B and the Cypriot syllabary, were used previously. The alphabet arose from the Phoenician script and was in turn the basis of the Latin, Cyrillic, Armenian, Coptic, Gothic, and many other writing systems.

The Greeks or Hellenes are an ethnic group native to Greece, Cyprus, southern Albania, Italy, Turkey, Egypt and, to a lesser extent, other countries surrounding the Mediterranean Sea. They also form a significant diaspora, with Greek communities established around the world.

Business magnate entrepreneur who has achieved wealth and prominence from a particular industry (or industries)

A business magnate or industrialist is an entrepreneur of great influence, importance, or standing in a particular enterprise or field of business. The term characteristically refers to a wealthy entrepreneur or investor who controls, through personal business ownership or dominant shareholding position, a firm or industry whose goods or services are widely consumed. Such individuals may also be called czars, moguls, proprietors, tycoons, taipans, barons, or oligarchs.

Contents

Onassis was born in Smyrna (modern-day İzmir in Turkey) and fled the city with his family to Greece in 1922 in the wake of the Greco-Turkish War. He moved to Argentina in 1923 and established himself as a tobacco trader and later a shipping owner during the Second World War. Moving to Monaco, Onassis fought Prince Rainer III for economic control of the country through his ownership of SBM and its Monte Carlo Casino. In the mid-1950s, he sought to secure an oil shipping arrangement with Saudi Arabia and engaged in whaling expeditions. In the 1960s, Onassis attempted to establish a large investment contract—Project Omega—with the Greek military junta, and he sold Olympic Airways, which he had founded in 1957. Onassis was greatly affected by the death of his 24-year-old son, Alexander, in a plane crash in 1973, and he died two years later.

Smyrna ancient city on the Aegean coast of Turkey

Smyrna was a Greek city founded in antiquity located at a central and strategic point on the Aegean coast of Anatolia. Since 1930, the modern city located there has been known as İzmir, in Turkey, the Turkish rendering of the same name. Due to its advantageous port conditions, its ease of defense and its good inland connections, Smyrna rose to prominence. Two sites of the ancient city are today within the boundaries of İzmir. The first site, probably founded by indigenous peoples, rose to prominence during the Archaic Period as one of the principal ancient Greek settlements in western Anatolia. The second, whose foundation is associated with Alexander the Great, reached metropolitan proportions during the period of the Roman Empire. Most of the present-day remains of the ancient city date from the Roman era, the majority from after a 2nd-century AD earthquake.

İzmir Metropolitan municipality in Aegean, Turkey

İzmir, often spelled Izmir in English, is a metropolitan city in the western extremity of Anatolia. It is the third most populous city in Turkey, after Istanbul and Ankara, and the second largest metropolitan area on the Aegean Sea after Athens, Greece. In 2018, the city of İzmir had a population of 2,947,000, while İzmir Province had a total population of 4,320,519. İzmir's metropolitan area extends along the outlying waters of the Gulf of İzmir and inland to the north across the Gediz River delta; to the east along an alluvial plain created by several small streams; and to slightly more rugged terrain in the south.

Turkey Republic in Western Asia

Turkey, officially the Republic of Turkey, is a transcontinental country located mainly on the Anatolian peninsula in Western Asia, with a small portion on the Balkan peninsula in Southeast Europe. East Thrace, the part of Turkey in Europe, is separated from Anatolia by the Sea of Marmara, the Bosphorous and the Dardanelles. Turkey is bordered by Greece and Bulgaria to its northwest; Georgia to its northeast; Armenia, the Azerbaijani exclave of Nakhchivan and Iran to the east; and Iraq and Syria to the south. Istanbul is the largest city while Ankara is the capital. Approximately 70 to 80 per cent of the country's citizens identify as Turkish. Kurds are the largest minority; the size of the Kurdish population is a subject of dispute with estimates placing the figure at anywhere from 12 to 25 percent of the population.

Early life

Anatolia

Aristotle Socrates Onassis was born in 1906 in Karataş, a suburb of the port city of Smyrna (now İzmir, Turkey) in Anatolia to Socrates Onassis and Penelope Dologou. Onassis had one sister, Artemis, and two half-sisters, Kalliroi and Merope, by his father's second marriage following Penelope's death. Onassis became a successful shipping entrepreneur and was able to send his children to prestigious schools. When Onassis graduated from the local Evangelical Greek School at the age of 16, he spoke four languages: Greek (his native language), Turkish, Spanish, and English. [7] [8]

Anatolia Asian part of Turkey

Anatolia, also known as Asia Minor, Asian Turkey, the Anatolian peninsula or the Anatolian plateau, is the westernmost protrusion of Asia, which makes up the majority of modern-day Turkey. The region is bounded by the Black Sea to the north, the Mediterranean Sea to the south, the Armenian Highlands to the east and the Aegean Sea to the west. The Sea of Marmara forms a connection between the Black and Aegean seas through the Bosphorus and Dardanelles straits and separates Anatolia from Thrace on the European mainland.

Evangelical School of Smyrna Secondary male school in Izmir , Ottoman Empire

The Evangelical School was a Greek educational institution established in 1733 in Smyrna, Ottoman Empire, now Izmir, Turkey. The school, initially an Orthodox Church-approved institution, attracted major figures of the Modern Greek Enlightenment. During the late 19th-early 20th century it became the most important Greek school in the city, possessing an archaeological museum, a natural science collection and a library, which contained some 50,000 volumes and 180 manuscripts. The Evangelical School ceased its operation in 1922. It currently serves as a Turkish school.

Onassis, 1932 Onassis-1932.jpg
Onassis, 1932

Smyrna was briefly administered by Greece (1919–1922) in the aftermath of the Allied victory in World War I, but then Smyrna was re-taken by Turkey during the Greco-Turkish War (1919–22). The Onassis family's substantial property holdings were lost, causing them to become refugees fleeing to Greece after the Great Fire of Smyrna in 1922. [9] During this period, Onassis lost three uncles, an aunt, and her husband Chrysostomos Konialidis and their daughter, who were burned to death in a church in Thyatira where 500 Christians were seeking shelter from the Great Fire of Smyrna.

Greece republic in Southeast Europe

Greece, officially the Hellenic Republic, also known as Hellas, is a country located in Southeast Europe. Its population is approximately 10.7 million as of 2018; Athens is the nation's capital and largest city, followed by Thessaloniki.

Allies of World War I group of countries that fought against the Central Powers in World War I

The Allies of World War I or Entente Powers were the coalition that opposed the Central Powers of Germany, Austria–Hungary, the Ottoman Empire, and Bulgaria during the First World War (1914–1918).

World War I 1914–1918 global war starting in Europe

World War I, also known as the First World War, the Great War, the Seminal Catastrophe, and initially in North America as the European War, was a global war originating in Europe that lasted from 28 July 1914 to 11 November 1918. Contemporaneously described as "the war to end all wars", it led to the mobilisation of more than 70 million military personnel, including 60 million Europeans, making it one of the largest wars in history. It is also one of the deadliest conflicts in history, with an estimated nine million combatants and seven million civilian deaths as a direct result of the war, while resulting genocides and the resulting 1918 influenza pandemic caused another 50 to 100 million deaths worldwide.

Argentina

At age 17 in 1923, Onassis arrived in Buenos Aires, Argentina, by Nansen passport, and got his first job as a telephone operator with the British United River Plate Telephone Company, [5] while following studies in commerce and port-duty administration at Aduanas Argentinas. He later became an entrepreneur, creating an Argentine import-export company, going into business for himself and making a fortune importing English-Turkish tobacco to Argentina. [10] He obtained Argentine citizenship in 1929. [3] [4] Eventually he established his first shipping trading company in Buenos Aires, Astilleros Onassis. After gaining his first fortune in Argentina, he expanded his shipping business worldwide and relocated to New York City, USA, where he built up his shipping businesses empire while keeping offices in Buenos Aires and Athens. [10] His legacy in Buenos Aires was the creation of a shipping empire and a Hellenic Culture Fund providing youth scholarships and an academic international exchange program between Argentina, Greece, Monaco and the United States; the programs are funded and administered by the Onassis Foundation and were eventually under the managing direction of his daughter Christina Onassis.

Buenos Aires Place in Argentina

Buenos Aires is the capital and largest city of Argentina. The city is located on the western shore of the estuary of the Río de la Plata, on the South American continent's southeastern coast. "Buenos Aires" can be translated as "fair winds" or "good airs", but the former was the meaning intended by the founders in the 16th century, by the use of the original name "Real de Nuestra Señora Santa María del Buen Ayre". The Greater Buenos Aires conurbation, which also includes several Buenos Aires Province districts, constitutes the fourth-most populous metropolitan area in the Americas, with a population of around 15.6 million.

Nansen passport passport for stateless refugees

Nansen passports, originally and officially stateless persons passports, were internationally recognized refugee travel documents from 1922 to 1938, first issued by the League of Nations to stateless refugees. They quickly became known as "Nansen passports" for their promoter, the Norwegian statesman and polar explorer Fridtjof Nansen.

New York City Largest city in the United States

The City of New York, usually called either New York City (NYC) or simply New York (NY), is the most populous city in the United States. With an estimated 2018 population of 8,398,748 distributed over a land area of about 302.6 square miles (784 km2), New York is also the most densely populated major city in the United States. Located at the southern tip of the state of New York, the city is the center of the New York metropolitan area, the largest metropolitan area in the world by urban landmass and one of the world's most populous megacities, with an estimated 19,979,477 people in its 2018 Metropolitan Statistical Area and 22,679,948 residents in its Combined Statistical Area. A global power city, New York City has been described as the cultural, financial, and media capital of the world, and exerts a significant impact upon commerce, entertainment, research, technology, education, politics, tourism, art, fashion, and sports. The city's fast pace has inspired the term New York minute. Home to the headquarters of the United Nations, New York is an important center for international diplomacy.

Business

Shipping

Onassis built up a fleet of freighters and tankers that eventually exceeded seventy vessels. The fleet operated under a flag of convenience, thereby bypassing laws and regulations of the owners’ country that would protect safety standards and the wages and working conditions of mariners. Onassis' fleet had mostly Panamanian and Liberian flags and sailed tax-free while operating at low cost. Because of this, Onassis could turn a profit in every transaction, even though he charged one of the lowest prices in the merchant navy market. Onassis made large profits when the Big Oil companies like Mobil, Socony, and Texaco signed long-term contracts at fixed prices with him for the use of his fleet, while having trouble managing their own fleets, which operated under US flags and thus at high cost.

Cargo ship ship or vessel that carries cargo, goods, and materials onboard from one port to another

A cargo ship or freighter ship is a merchant ship that carries cargo, goods, and materials from one port to another. Thousands of cargo carriers ply the world's seas and oceans each year, handling the bulk of international trade. Cargo ships are usually specially designed for the task, often being equipped with cranes and other mechanisms to load and unload, and come in all sizes. Today, they are almost always built by welded steel, and with some exceptions generally have a life expectancy of 25 to 30 years before being scrapped.

Tanker (ship) ship designed to transport liquids or gases in bulk

A tanker is a ship designed to transport or store liquids or gases in bulk. Major types of tankship include the oil tanker, the chemical tanker, and gas carrier. Tankers also carry commodities such as vegetable oils, molasses and wine. In the United States Navy and Military Sealift Command, a tanker used to refuel other ships is called an oiler but many other navies use the terms tanker and replenishment tanker.

Flag of convenience The business practice registering a ship under a different sovereign state than that of its owners, to reduce costs or avoid regulations

Flag of convenience (FOC) is a business practice whereby a ship's owners register a merchant ship in a ship register of a country other than that of the ship's owners, and the ship flies the civil ensign of that country, called the flag state. The term is often used pejoratively, and the practice is regarded as contentious. Each merchant ship is required by international law to be registered in a registry created by a country, and a ship is subject to the laws of that country, which are used also if the ship is involved in a case under admiralty law. A ship's owners may elect to register a ship in a foreign country which enables it to avoid the regulations of the owners’ country which may, for example, have stricter safety standards. They may also select a jurisdiction to reduce operating costs, bypassing laws that protect the wages and working conditions of mariners. The term "flag of convenience" has been used since the 1950s. A registry which does not have a nationality or residency requirement for ship registration is often described as an open registry. Panama, for example, offers the advantages of easier registration and the ability to employ cheaper foreign labour. Furthermore, the foreign owners pay no income taxes.

The high profitability of the Onassis fleet has been attributed in large part to his disregard for standards that normally govern international shipping. [11] For example, after his Liberian registered tanker SS Arrow ran aground and spilled oil into Chedabucto Bay, Nova Scotia in 1970, still the most significant oil spill off Canada’s East Coast [12] (about 25% of the amount spilled by the Exxon Valdez in Alaska in 1989), there was a Commission of Inquiry. Led by Dr Patrick McTaggart-Cowan, executive director of the Science Council of Canada, the Commission found that the Arrow had been operating with almost none of its navigation equipment serviceable: [13] "radar had ceased to function an hour before the ship struck; the echo sounder had not been in working condition for two months; and the gyrocompass... had a permanent error of three degrees west. The officer on watch at the time of the accident, the ship's third officer, had no license" and none of the crew had any navigational skill except the master, "and there are even doubts about his ability."

Monaco

Onassis arrived in the Mediterranean principality of Monaco in 1953 and began to purchase the shares of Monaco's Société des bains de mer de Monaco (SBM) via the use of front companies in the tax haven of Panama, and took control of the organisation in the summer of that year. Onassis moved his headquarters into the Old Sporting Club on Monaco's Avenue d'Ostende shortly after taking control of the SBM. The SBM was a significant owner of property in Monaco, its assets included the Monte Carlo Casino, the Monaco Yacht Club, the Hôtel de Paris and a third of the country's acreage. [14] Onassis' takeover of the SBM was initially welcomed by Monaco's ruler, Prince Rainier III as the country required investment, [15] but Onassis and Rainier's relationship had deteriorated by 1962 in the wake of the boycott of Monaco by the French President, Charles de Gaulle. [16]

Onassis and Rainier had differing visions for Monaco. Onassis wished the country to remain a resort for an exclusive clientele, but Rainier wished to build hotels and attract a greater number of tourists. [17] Monaco had become less attractive as a tax haven in the wake of France's actions, and Rainier urged Onassis to invest in the construction of hotels. [18] Onassis was reluctant to invest in hotels without a guarantee from Rainier that no other competing hotel development would be permitted, but promised to build two hotels and an apartment block. Unwilling to give Onassis his guarantee, Rainier used his veto to cancel the entire hotel project, and publicly attacked SBM for their 'bad faith' on television, implicitly criticising Onassis. Rainier and Onassis remained at odds over the direction of the company for several years and in June 1966 Rainier approved a plan to create 600,000 new shares in SBM to be permanently held by the state, [19] which reduced Onassis's stake from 52% to under a third. [20] In the Supreme Court of Monaco the share creation was challenged by Onassis who claimed that it was unconstitutional, but the court found against him in March 1967. Following the ruling Onassis sold his holdings in SBM to the state of Monaco for $9.5 million ($271 million as of 2015), [21] and left the country. [22] According to Frank Brady in Onassis: An Extravagant Life, Onassis' words about the issue were: "We were gypped."

Saudi Arabia

During the oil boom of the 1950s Onassis was in final discussions with the King of Saudi Arabia for securing a tanker transport deal. Since the Arabian-American Oil Co. (Currently, ARAMCO) had a monopoly on Saudi oil by a concession agreement, the US government was alarmed by the tanker deal. By 1954, a specific U.S. policy for Saudi Arabia, in addition to strengthening the US "special position," was to take "all appropriate measures to bring about the cancellation" of an agreement between the Saudi government and Onassis to transport Saudi oil on his tankers and "in any case, to make the agreement ineffective". [Doc. 128] The arrangement would have ended monopoly control of Saudi Arabia's oil by American oil companies, but was forestalled by the US government. [23]

For this reason he became a target of the US government and in 1954, the FBI investigated Onassis for fraud against the U.S. government. He was charged with violating the citizenship provision of the shipping laws which require that all ships displaying the U.S. flag be owned by U.S. citizens. Onassis entered a guilty plea and paid $7 million. [24]

Whaling

Between 1950 and 1956, Onassis had success whaling off the Peruvian coast. His first expedition made a net profit of US$4.5 million. That business ended when The Norwegian Whaling Gazette made accusations based on sailors' testimonials, such as one given by Bruno Schalaghecke who worked on the factory ship Olympic Challenger: "Pieces of fresh meat from the 124 whales we killed yesterday still remains on the deck. Among them all, just one could be considered adult. All animals that pass within the range of the harpoon are killed in cold blood." The venture came to an end after the business was sold to Kyokuyo Hogei Kaisha Whaling Company, one of the biggest Japanese whaling companies, for $8.5 million. [25] Norwegian authorities suspected the involvement of Hjalmar Schacht in Onassis' whaling enterprises. Schacht had previously been connected with Onassis' Saudi Arabian deals. [26]

Olympic Airways

Olympic Airways Boeing 707, 1973 Boeing 707-384B SX-DBF Olympic ATH 22.04.73 edited-2.jpg
Olympic Airways Boeing 707, 1973

In 1956, Greek airlines in general faced economic difficulties, whereby companies like TAE were affected by strikes and cash shortage. The Greek government decided to give this and other companies to the private sector, and, on 30 July 1956, Onassis signed a contract granting him the operational rights to the Greek air transport industry. When Onassis heard during the negotiations that he would not be able to use the five Olympic rings in his logo due to copyright issues, he simply decided to add a sixth ring.

Operation effectively started in 1957, with one DC-4, two DC-6s and 13 DC-3s. The following year saw 244,000 passengers transported. The agreement lasted until 10 December 1974, when a number of factors (namely, a series of strikes, shortage of passengers, fuel price increase, and a law from the new Greek government forbidding Olympic Airways to fire employees) led Onassis to terminate his contract.

Following this event, Paul Ionnidis, a high-ranking director from Olympic Airways, said the following of Onassis: "Deep down, [he] did not want to relinquish Olympic Airways. He found it flattering to own an airline. It was something in which he took deep pride. It was his accomplishment. He was married to the sea, but Olympic was his mistress. We used to say that he would spend all the money he made at sea with his mistress in the sky."

Onassis' time at the head of Olympic Airways is known as a golden era, due to investments he made in training and the acquisition of cutting-edge technology. For example, in 1959, he signed a deal with De Havilland to buy four Comet 4B jets. Onassis was also renowned for his attention to service quality, which led him to buy gold-plated utensils and candles for the dining service of the first-class section.

During 1974, the last year of Onassis' involvement with the company, Olympic Airways transported 2.5 million passengers and had a work force of 7,356 persons. At the time, his ownership of Olympic Airways distinguished Onassis as one of only two men in the world to own a private airline, the other being Howard Hughes of TWA. [27]

Investments

Onassis was involved in the privatization of the Greek national airline and founded the privatized Olympic Airways (today Olympic Air) in 1957. Stocks accounted for one-third of his capital, held in oil companies in the USA, the Middle East, and Venezuela. He also owned additional shares that secured his control of 95 multinational businesses in five continents. He owned gold-processing plants in Argentina and Uruguay and a large share in an airline in Latin America and $4 million worth of investments in Brazil. Also, he owned companies like Olympic Maritime and Olympic Tourist; a chemical company in Persia; apartments in Paris, London, Monte Carlo, Athens, and Acapulco; a castle in South France; the Olympic Tower (a 52-storey high-rise in Manhattan); another building in Sutton Place; Olympic Airways and Air Navigation; the island of Skorpios; the 325 ft (99.06 m) luxury yacht Christina O and, finally, deposit accounts and accounts in treasuries in 217 banks in the whole world. [28]

Project Omega

Onassis at age 64 in 1970 Aristotle Onassis.jpg
Onassis at age 64 in 1970

In October 1968, amidst the Greek military junta and shortly after his marriage to Jacqueline Kennedy, Onassis announced the launch of Project Omega, a $400 million investment program that aimed to build considerable industrial infrastructure in Greece including an oil refinery and aluminum smelter. Onassis had cultivated the Prime Minister of Greece, Colonel Georgios Papadopoulos, for his assistance with the scheme, loaning Papadopoulos the use of his villa and buying dresses for his wife. [29] The project was financially supported by the American bank First National City, and Onassis' American financial supporters eventually tired of the unfavourable terms demanded by him. The project was heavily criticized by people such as Helen Vlachos, a journalist from Athens. Another Greek Colonel, Nikolaos Makarezos, preferred a deal offered by Onassis' rival, Stavros Niarchos, and the project was eventually split between them. The failure was due partly to opposition from influential people within the military junta, such as Ioannis-Orlandos Rodinos, Deputy Minister of Economic Coordination, who opposed Onassis's offers in preference to Niarchos. [30]

Relationships and family

Athina Livanos

Onassis married Athina Mary "Tina" Livanos, daughter of shipping magnate Stavros G. Livanos and Arietta Zafrikakis, on 28 December 1946. Livanos was 17 at the time of their marriage; Onassis was 40. Onassis and Livanos had two children, both born in New York City: a son, Alexander (1948–1973), and a daughter Christina (1950–1988). Onassis named his legendary super-yacht after his daughter. To Onassis his marriage to Athina was more than the fulfillment of his ambitions. He also felt that the marriage dealt a blow to his father-in-law and the old-money Greek traditionalists who held Onassis in very low esteem. [31] The couple had become largely separated by the mid-1950s, with the end of the marriage coming after Livanos found Onassis in bed with a friend of hers at their home in Cap d'Antibes, the Château de la Croë. The house was then acquired by Onassis' brother-in-law and business rival Stavros Niarchos, who bought it for his wife, Eugenia Livanos, Athina's sister. [32] Onassis and Livanos divorced in June 1960 during Onassis' well publicised affair with Maria Callas. [33]

Maria Callas

Onassis and opera soprano Maria Callas carried on an affair despite the fact that they were both married. They met in 1957 during a party in Venice promoted by Elsa Maxwell. After this first encounter, Onassis commented to Spyros Skouras: "There [was] just a natural curiosity; after all, we were the most famous Greeks alive in the world." [34] Callas and Onassis both divorced their spouses but did not marry each other, although their relationship continued for many years. [10]

Jacqueline Kennedy

Onassis was a friend of Jacqueline Kennedy, widow of U.S. President John F. Kennedy. They married on 20 October 1968 on Onassis' private Greek island, Skorpios.

Onassis offered Mrs. Kennedy US$3 million to replace her Kennedy trust fund, which she would lose because she was remarrying. [35] After Onassis' death, she would receive US$150,000 each year for the rest of her life. The whole marital contract was discussed with Ted Kennedy. [35] Onassis' daughter Christina made it clear that she disliked Jacqueline Kennedy, and after Alexander's death, she convinced her father that Jacqueline had some kind of curse due to the assassinations of John and Robert Kennedy. [36] After Onassis's death, Christina settled with Jackie Onassis for $25 million in exchange for Jackie not contesting Onassis's will. [37]

During their marriage, the couple inhabited six residences: her 15-room apartment at 1040 Fifth Avenue in New York City, her horse farm in New Jersey, his Ave. Foch apartment in Paris (88 Avenue Foch), his house in Athens, on Skorpios, his private island in Greece, and his yacht Christina O.

Death and legacy

Onassis financed the construction of the Olympic Tower in New York City. Olympic Tower NY by David Shankbone.JPG
Onassis financed the construction of the Olympic Tower in New York City.

Onassis died at age 69 on 15 March 1975 at the American Hospital of Paris in Neuilly-sur-Seine, France, of respiratory failure, a complication of the myasthenia gravis from which he had been suffering during the last years of his life.[ citation needed ] Onassis was buried on his island of Skorpios in Greece, alongside his son, Alexander. Onassis' will established a charitable foundation in memory of his son, named the Alexander S. Onassis Public Benefit Foundation, based in the tax haven of Vaduz in Liechtenstein, and headquartered in Athens. The foundation received 45% of Onassis' estate, which would have been left to his son, with the 55% remainder left to his daughter, Christina. The foundation consists of two parts; a business foundation which runs various businesses including shipping, and a public benefit foundation which is the sole recipient of the business foundation. [38] The public benefit foundation funds the worldwide promotion of Greek culture, funds the Onassis International Prizes for achievement in various fields, and the funding of scholarships for Greek university students. [38]

Jacqueline Onassis also received her share of the estate, settling for a reported $10 million ($26 million according to other sources), which was negotiated by her brother-in-law Ted Kennedy. This amount would reportedly grow to several hundred million under the financial stewardship of her companion Maurice Tempelsman. [39] Christina's share has since passed to her only child Athina, at the time making Athina one of the wealthiest women in the world. [40]

See also

References and sources

References

  1. "Onassis". Random House Webster's Unabridged Dictionary .
  2. "Aristotle Socrates Onassis". Encyclopædia Britannica .
  3. 1 2 "Biografia de Onassis Aristóteles Millonario Griego Armador de Barcos". historiaybiografias.com (in Spanish). Retrieved 28 November 2017.
  4. 1 2 "La Argentina de Onassis". La Terminal, ida y vuelta a la realidad (in Spanish). 7 December 2008. Retrieved 28 November 2017.
  5. 1 2 Hoenig, Gary (16 March 1975) "Headliners, Aristotle Onassis is Dead". New York Times
  6. "22 iconic photos of life at sea". Boat International. Retrieved 28 November 2017.
  7. Cafarakis, Christian (1972). Ari: O Fabuloso Onassis. Editora Expressão e Cultura.
  8. Gerald A. Carroll. Project Seek: Onassis, Kennedy, and the Gemstone thesis. Bridger House, 1994, ISBN   978-0-9640104-0-6, p. 50
  9. Hussein, Waris (1988) Onassis, the richest man in the world, TV movie.
  10. 1 2 3 The Diva and the Tycoon", by Sally Bedell Smith, New York Times, 5 November 2000
  11. Mostert, Noel (1974). Supership. Alfred A Knopf Inc. ISBN   9780394494807
  12. Transport Canada (20 October 2014). "Tanker Safety and Spill Prevention". Transport Canada. http://www.tc.gc.ca/en/services/marine/marine-pollution-environmental-response/vessel-safety-spill-prevention-response.html Retrieved 20 October 2018
  13. Mostert, Noel. Ibid. Chapter 3, pp 59–60.
  14. Evans 1987, p. 113.
  15. Evans 1987, p. 114.
  16. Evans 1987, p. 199.
  17. "Obituary: Prince Rainier III of Monaco.", The Times, London, 7 April 2005, p. 58.
  18. Nuzum, Thomas (5 December 1965). "Monte Carlo Has a Good Feud, but Glamor Is Gone", The Chicago Tribune, Section 1B, p. 1
  19. "Mr. Onassis In Monaco Law Battle.", The Times, London, 22 August 1966, p. 6.
  20. Evans 1987, p. 204.
  21. Federal Reserve Bank of Minneapolis. "Consumer Price Index (estimate) 1800–" . Retrieved 2 January 2019.
  22. Evans 1987, p. 206.
  23. National Security Council (1954). "US Objectives and Policies with respect to the Near East". The National Security Archive. p. 6. Archived from the original (PDF) on 13 December 2002. Retrieved 10 April 2014.
  24. The Federal Bureau of Investigations (1968). "FBI Vaults File: Aristotle Onassis Part 2 of 11". p. 5. Retrieved 6 March 2015.
  25. Dorsey, Kurkpatrick (2013). Whaling and Nations: Environmental Diplomacy on the High Seas. p. 151. ISBN   0295995599.
  26. Evans 1987, p. 140.
  27. Ioannidis, Paul (2015). Destiny Prevails: My Life with Aristotle, Alexander, Christina Onassis and her daughter, Athina. New York: Significance Press-paperback or kindle edition. ISBN   978-0990757474.
  28. "Onasis.gr – Everything about Aristotelis Onasis". onasis.gr. Retrieved 28 November 2017.
  29. Evans 1987, p. 231.
  30. Evans 1987, p. 237.
  31. Evans 1987, p. 102.
  32. Evans 1987, p. 154.
  33. Evans 1987, p. 190.
  34. Evans 1987, p. 173.
  35. 1 2 "Jackie Kennedy: One of the world's most expensive women". India Today. 30 November 1977.
  36. "Video Biography of Aristotles Onassis". Thebiographychannel.co.uk. 11 August 2008. Archived from the original on 25 March 2007. Retrieved 26 April 2009.
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Sources

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