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Aristotle Onassis in 1967
|Born||Aristotle Socrates Onassis
20 January 1906
Smyrna, Ottoman Empire
|Died||15 March 1975
|Spouse(s)||Athina Livanos (m. 1946; div. 1960)
Jacqueline Kennedy Onassis (m. 1968–75)
|Relatives||Socrates Onassis (father)
Penelope Dologu (mother)
Artemis Garoufalidis (sister)
Aristotle Socrates Onassis (Greek: Αριστοτέλης Ωνάσης, Aristotelis Onasis; 15 January 1906 – 15 March 1975), commonly called Ari or Aristo Onassis, was a Greek prominent shipping magnate. He amassed the world's largest privately owned shipping fleet and was one of the world's richest and most famous men. He was known for his business success, his great wealth and also his personal life, including his marriage to Athina Livanos, daughter of shipping tycoon Stavros G. Livanos, his affair with opera star Maria Callas and his marriage in 1968 to Jacqueline Kennedy, the widow of President John F. Kennedy.
- 1 Early life
- 2 Business
- 3 Relationships and family
- 4 Death and legacy
- 5 See also
- 6 References and sources
- 7 External links
Onassis was born in Karatass, a suburb of the port city of Smyrna (now İzmir, Turkey) in Anatolia. His parents were Socrates and Penelope Dologu. Onassis had one full-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 Aristotle 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.
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. During this period, Aristotle 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.
In 1923, at the age of seventeen, Aristotle Onassis left for Buenos Aires, Argentina, by Nansen passport, and got his first job as a telephone operator, with the British United River Plate Telephone Company. He went into business for himself and made a fortune importing tobacco to Argentina. Eventually he relocated to New York where he built up his shipping businesses.
Onassis built up a fleet of freighters and tankers that eventually exceeded seventy vessels. Onassis's fleet had Panamanian 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.
In 1953 Onassis 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 Hotel de Paris and a third of the country's acreage. Onassis's takeover of the SBM was initially welcomed by Monaco's ruler, Prince Rainier III as the country required investment, 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.
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 greater number of tourists. 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. 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, which reducing Onassis's stake from 52% to under a third. 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 ($67.2 million as of 2015), and left the country.
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 Aristotle 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.
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.
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. Norwegian authorities suspected the involvement of Hjalmar Schacht in Onassis's whaling enterprises. Schacht had previously been connected with Onassis's Saudi Arabian deals.
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 ninety-five multinational businesses on 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 fifty-two-story high-rise in Manhattan); another building in Sutton Place; Olympic Airways and Air Navigation; the islands Scorpios and Sparta; the yacht Christina and, finally, deposit accounts and accounts in treasuries in two hundred and seventeen banks in the whole world.
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 George Papadopoulos, for his assistance with the scheme, loaning Papadopoulos the use of his villa and had bought dresses for his wife. The project was financially supported by the American bank First National City, and Onassis's 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's 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.
Relationships and family
Onassis married Athina Livanos, daughter of shipping magnate Stavros G. Livanos and Arietta Zafrikakis, on 28 December 1946. Livanos was aged 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 (30 April 1948 – 23 January 1973), and a daughter Christina (11 December 1950 – 19 November 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. 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 Chateau de la Croë. The house was then acquired by Onassis's brother-in-law and business rival Stavros Niarchos, who bought it for his wife, Eugenia Livanos, Athina's sister. Onassis and Livanos divorced in June 1960 during Onassis's well publicised affair with Callas.
Onassis and opera diva Maria Callas embarked on an affair despite the fact 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." Callas and Onassis both divorced their spouses but did not marry each other although their relationship continued for years.
Jacqueline Bouvier Kennedy
According to biographer Peter Evans, Onassis offered Mrs. Kennedy US$3 million to replace her Kennedy trust fund, which she would lose because she was remarrying. After Onassis' death, she would receive a settlement of US$26 million; US$150,000 each year for the rest of her life. The whole marital contract was discussed with Ted Kennedy and later reviewed by André Meyer, her financial consultant.
Onassis' daughter Christina made clear that she disliked Jacqueline Kennedy, and after Alexander's death, she convinced Aristotle that Jacqueline had some kind of curse due to John and Robert Kennedy's murders.
During his marriage to Jackie, the couple inhabited six different residences: her 15-room Fifth Ave. apartment in New York City, her horse farm in New Jersey, his Ave. Foch apartment in Paris, his house in Athens, Skorpios, his private island in Greece, and his 325-ft. luxury yacht The Christina.
Death and legacy
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 that he had been suffering from during the last years of his life. Onassis was buried on his island of Skorpios in Greece, alongside his son, Alexander. Onassis's 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's 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. The public benefit foundation funds the world wide promotion of Greek culture, funds the Onassis International Prizes for achievement in various fields, and the funding of scholarships for Greek university students.
Jackie Kennedy 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. Christina's share has since passed to her only child Athina, at the time making Athina one of the wealthiest women in the world.
References and sources
- "Aristotle Socrates Onassis". Britanicca.
- Blyth, Myrna (12 August 2004). "Greek Tragedy, The life of Aristotle Onassis". National Review Online. Archived from the original on 9 March 2009. Retrieved 5 April 2008.
- Smith, Helena, The Guardian, Callas takes centre stage again as exhibition recalls Onassis's life, Retrieved on 5 April 2008.
- New York Times, March 16, 1975, "Headliners, Aristotle Onassis is Dead" by Gary Hoenig
- Cafarakis, Christian (1972). Ari: O Fabuloso Onassis. Editora Expressão e Cultura.
- Gerald A. Carroll. Project Seek: Onassis, Kennedy, and the Gemstone thesis. Bridger House, 1994, ISBN 978-0-9640104-0-6, p. 50
- Hussein, Waris, Onassis, the richest man in the world (1988), movie for television.
- The Diva and the Tycoon", by Sally Bedell Smith, New York Times, November 5, 2000
- Evans 1987, p. 113.
- Evans 1987, p. 114.
- Evans 1987, p. 199.
- "Obituary: Prince Rainier III of Monaco.", The Times, London, 7 April 2005, pg. 58.
- Nuzum, Thomas. "Monte Carlo Has a Good Feud, but Glamor Is Gone", The Chicago Tribune, Chicago, December 5, 1965, Section 1B, pg. 1|link=http://archives.chicagotribune.com/1965/12/05/page/33/article/monte-carlo-has-a-good-feud-but-glamor-is-gone
- "Mr. Onassis In Monaco Law Battle.", The Times, London, 22 August 1966, pg. 6.
- Evans 1987, p. 204.
- Consumer Price Index (estimate) 1800–2014. Federal Reserve Bank of Minneapolis. Retrieved February 27, 2014.
- Evans 1987, p. 206.
- 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 December 13, 2002. Retrieved 10 April 2014.
- The Federal Bureau of Investigations (1968). "FBI Vaults File: Aristotle Onassis Part 2 of 11". p. 5. Retrieved 6 March 2015.
- Dorsey, Kurkpatrick (2013). Whaling and Nations: Environmental Diplomacy on the High Seas. p. 151.
- Evans 1987, p. 140.
- Dimitris Liberopoulos, personal biographer of Aristotle Onassis
- Evans 1987, p. 231.
- Evans 1987, p. 237.
- Evans 1987, p. 102.
- Evans 1987, p. 154.
- Evans 1987, p. 190.
- Evans 1987, p. 173.
- "Video Biography of Aristotles Onassis". Thebiographychannel.co.uk. 11 August 2008. Retrieved 26 April 2009.
- Cheslow, Jerry. "If You're Thinking of Living In/Peapack and Gladstone; Fox-Hunting and High-Priced Homes", The New York Times, 7 August 1994. Retrieved 21 March 2011. "She does have a story about Aristotle Onassis, who rented a home in neighboring Bernardsville with his wife, Jacqueline Kennedy Onassis."
- "Onassis, Aristotle". Findarticles.com. 2003. Retrieved 26 April 2009.
- Michael Knipe. "The legacy of Onassis." The Times, London, 18 December 2001, pg. 11
- McFadden, Robert D. "Death of A First Lady: The Companion; Quietly at Her Side, Public at the End", The New York Times, May 24, 1994. Accessed: 6 March 2015
- Craig, Olga and de Quetteville, Harry. "Happy birthday, Athina. Here is your £2.5 billion inheritance", The Telegraph, 26 January 2003. Accessed: 6 March 2015
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- Alexander S. Onassis Foundation official site
- Aristotle Onassis: The Golden Greek (documentary on the life of Onassis, in English with Greek subtitles)
- FBI file on Aristotle Onassis