The Bright Side of Aristotle Onassis

Aristotle Socrates Onassis, more popularly called Ari, was a prominent shipping magnate. He was born on January 20, 1906 in Karatass, Smyrna (now a part of Turkey). Being born to a father who has been a successful shipping businessman, Onassis went to a prestigious school. Early on, Onassis learned to speak four languages: Greek, Turkish, Spanish and English.

Following the victory of the Allied Forces in the World War I, Turkey reclaimed Smyrna. The Onassis family has lost all its properties and were forced by the Great Fire of Smyrna to flee to Greece as refugees. The Onassis family settled in Greece.

Onassis went to Buenos Aires, Argentina in 1923. He worked for the British United River Plate Telephone Company. Soon, Onassis left his job to start his tobacco importation business. His father helped him import tobacco from Turkey. One of his contracts with an Argentine company failed, and Onassis started to manufacture his own cigarettes. In 1925, Onassis was granted his Argentine and Greek citizenships. Within four years, Onassis’ trade with Greece was valued at $2.8 million.

In 1957, Onassis established the Olympic Airways (known today as Olympic Air). It became Greece’s national carrier. Onassis also opened his own fleet of ships. Onassis’ business grew very profitable especially that large oil companies hired him to sail to US. His tax exemptions allowed him to operate at a very low cost so he earned a lot out of each transaction.

Eventually, Onassis fleet of tankers and freighters grew to seventy vessels. He owned shares of stocks in many large companies in the US, Middle East and Latin America. He owned a chemical company, apartments, castles, and high-rise buildings. He had deposit accounts in 217 banks worldwide.

Onassis was 69 years old when he died on March 15, 1975. His will stated that 45% of his estate  will be used to set up the Alexander S. Onassis Foundation in honor of his son Alexander.