Angelo Tsakopoulos

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Angelo Tsakopoulos
Angelo Tsakopoulos, 2022 (cropped).png
Tsakopoulos in 2022
Born (1936-08-04) August 4, 1936 (age 87)
Rizes, Arcadia, Greece
NationalityAmerican
Occupation(s)Real estate developer, businessman
Years active1964–present
Known forFounder of AKT Development
Children4, including Eleni Kounalakis
Relatives

Angelo Tsakopoulos (born August 4, 1936) is a Greek-American businessman and real estate developer in Sacramento, California and the founder and owner of AKT Development. Tsakopoulos attended California State University, Sacramento.

Contents

Tsakopoulos was a minority owner of the Sacramento Mountain Lions franchise of the short lived United Football League along his son, Angelo Tsakopoulos, Jr., who presently serves as president of AKT Development. In 2002, Tsakopoulos purchased a 70,000 volume collection on Hellenistic civilization and donated it to the library of California State University, Sacramento where it is available for use by the community. [1]

Early life and career

Tsakopoulos was born in Rizes, a small village in Arcadia, Greece. He arrived in United States with his family in 1951, eventually settling in Sacramento, California after having lived in New York City and the Chicago, Illinois area. His older brother, George, who would arrive in the U.S. in 1955 after having been wounded in the Greek Civil War, would later also become a major investor with his brother in Sacramento real estate. [2] Tsakopoulos founded Sacramento's AKT Development Inc. in 1964, which was when the company made its first real estate sale, [3] the business controls 47,000 acres around Sacramento. [4] George Tsakopoulos, his brother, died at the age of 81 in Sacramento, California, [5]

Tsakopoulos' daughter, Eleni Kounalakis, served as president of AKT Development. She served as United States Ambassador to Hungary from 2010 to 2013 and is the Lieutenant Governor of California. [6] His other daughter, Chrysa (Chrysanthy Panagiota) Tsakopoulos, married George Demos, a former United States Securities and Exchange Commission prosecutor and Congressional candidate. [4] [7] His son, Kyriakos Tsakopoulos, is the current president and CEO of AKT Development and a former alumni trustee of Columbia University. [8] [9] [10]

Angelo and Eleni provided uncoordinated financial support to Phil Angelides election via a nominally independent organization. [11]

Clean Water Act violation

Tsakopoulos was fined by the United States Environmental Protection Agency for a violation of the Clean Water Act. Tsakopoulos sued the government and was able to bring his case to the U.S. Supreme Court, though the Court ruled against him.

"The case grew out of Tsakopoulos' preparations to subdivide part of the 8,350 acres (3,380 hectares) Borden Ranch into apple orchards and vineyards. He used a method of soil preparation called deep plowing or deep ripping to loosen the clay subsurface of nearly 1,000 acres (400 hectares) so that the roots of deep-growing trees and vines could penetrate. During the course of that work, about 2 acres (0.81 hectares) of wetlands also were plowed, although to lesser depths."..."But Tsakopoulos argued that normal farming practices, including deep plowing, were excluded specifically from the Clean Water Act." [12]

"The government said that was true only if the plowing did not change the character of the farmland." [13]

Justice Anthony Kennedy had to recuse himself from the case because of his acquaintance with Tsakopoulos and only eight justices were left deciding the case. The ruling turned out to be a 4–4 tie. Because of the tie, the ruling against Tsakopoulos by the 9th Circuit Court of Appeals was automatically affirmed.

See also

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References

  1. ↑ "Fall 2002 Journal". September 20, 2006. Archived from the original on September 20, 2006. Retrieved May 5, 2021.
  2. ↑ "Sacramento Bee – Noted Developer George Tsakopoulos". Archived from the original on June 21, 2009.
  3. ↑ "Sacramento Business Journal – Developer George Tsakopoulos". Archived from the original on June 21, 2009.
  4. 1 2 "Demos' bid boosted by wife's family fortune". Newsday. Retrieved August 13, 2020.
  5. ↑ "Obit". Legacy.com . March 23, 2016.
  6. ↑ Luna, Taryn (June 3, 2018). "Candidate, her father have spent millions to elect her California's lieutenant governor". The Sacramento Bee .
  7. ↑ "Madam Ambassador: Eleni Tsakopoulos Kounalakis recounts her groundbreaking role as the first Greek American woman to serve as U.S. Ambassador – NEO Magazine" . Retrieved August 13, 2020.
  8. ↑ "Columbia Names Two New Trustees". Columbia Daily Spectator. Retrieved August 13, 2020.
  9. ↑ "Kyriakos Tsakopoulos Named President & CEO of AKT Development Group of Companies, Preeminent Land Holding and Development Group in Northern California". www.businesswire.com. October 10, 2009. Retrieved August 13, 2020.
  10. ↑ Rudd, Scott (August 7, 2018). "Tsakopoulos family donates $1 million to McGeorge School of Law". Sacramento Business Journal. Retrieved August 13, 2020.
  11. ↑ "United States Court of Appeals for the District of Columbia Circuit" (PDF). Archived from the original (PDF) on November 26, 2020.[ dead link ]
  12. ↑ "Welcome to the Association of State Wetland Managers, Inc". June 22, 2006. Archived from the original on June 22, 2006. Retrieved May 7, 2021.
  13. ↑ "Tsakopoulos Loses Battle in a Tie Vote". February 14, 2006. Archived from the original on February 14, 2006. Retrieved May 7, 2021.
  14. ↑ "The Cyprus Question and Greek-Turkish Relations". www.hri.org. Retrieved May 7, 2021.


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