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Sunday, June 13, 2021

Aristotle Onassis … the emperor of economy

Known during the past millennium, he is one of the most famous wealthy people in the world, although he was not born rich, but rather suffered greatly in his life’s journey; Until Aristotle Onassis managed; The owner of multiple companies and investments internationally, to be written among the world’s wealthy giants as if he were a trademark symbolizing money-making and luxury.

Life in Greece
Onassis was born on January 15, 1906, in Smyrna. Which was a huge port, and his father was a tobacco merchant, and he had one sister from his parents, “Artemis”, and two sisters from his father, namely: Calroy and Merup.

Although he has great intelligence, he has not succeeded academically; Which prompted him to leave school to work with his father, and then soon he left his town early due to political differences between Turkey and Greece; Which prompted him to settle in Buenos Aires, Argentina.

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Aristotle Onassis targeted the women’s market, with Claudia Museo; the Famous opera singer of the time; In order to promote his cigarette brand, his idea was highly acclaimed and popular on the global level; Which helped him join the list of millionaires at only 25.

Shipping company
Onassis founded the first commercial shipping company in the Argentine capital, then made a huge fortune after his business flourished in the tobacco business, and then moved to New York State; To start a new business that brings more profits to it.

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Onassis kept his company in Argentina, while he worked on developing in the United States of America, leaving a great legacy in Buenos Aires through the fund dedicated to supporting students in studies, and he maintained funding for the international program for the exchange of students and academics between a number of countries, the most important of which are: Greece, Monaco, and America.

Shipping fleet
Onassis made a great fortune, broke into the community of shipping magnates, and in 1931, he was appointed deputy consul of Greece in Buenos Aires.

In 1932, the Great Depression occurred, which disappointed the business community, but Onassis gained considerable experience in the financial world. This made him buy 6 cargo ships of 10,000 tons from the Canadian National Steamship Company, at less than half their cost, which was a great deal for him.

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Work wits
In the midst of World War II, Aristotle Onassis became the owner of the least expensive shipping fleet. As he took advantage of his business intelligence by licensing his fleet of cargo ships to “Panama” across the Atlantic; This gave him the advantage of free taxation and lowering the overhead costs of shipping.

Onassis built a fleet of cargo ships and oil tankers in excess of 70 containers; This enabled him to reap profits through his fleet, which used to sail flying the banner of “Panama” without tax, and at low costs.

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Although he was charging the lowest prices in the merchant fleet market, he was able to make huge profits, especially when the major oil companies – such as Saucony, Mobil, and Texaco – signed long-term fixed-price contracts with him to use his fleet, when they faced a problem in managing their own fleets, which carry American flags; Thus you need a high cost.

Monaco station
Aristotle Onassis arrived in the Principality of Monaco in the Mediterranean in 1953, and began to buy shares of Société des Bains de Mer in Monte Carlo; Using shell corporations in a Panama tax haven, and by summer, he was in control of the organization.

Prince Rainier III welcomed; Governor of Monaco at the time, with Aristotle Onassis’s historic deal as an investment in his country, but the situation between them deteriorated after Charles de Gaulle’s boycott; President of France at the time.

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