Greek Rich List 2008!

Official Press Release/LGR - Wednesday 19th 2008f March 2008

Greek Rich List magazine is compiled by Philip Beresford, Editor of the Sunday Times Rich List considered the definitive guide to the richest 1000 people in Britain and Ireland.

The second annual Greek Rich List detailing the top 100 millionaires and billionaires covering the Greek and Greek Cypriot community in the UK is out!

Official Launch: Tuesday 18th March 08 - The Official Publication of Britain’s Top 100 Greek Millionaires

Stelios knocked off top spot in this year’s Greek Rich List!

The second annual Greek Rich List detailing the top 100 millionaires and billionaires covering the Greek and Greek Cypriot community in the UK has been compiled by Philip Beresford, editor of the Sunday Times Rich List. Following the success of the 2007 list, the new 2008 list has doubled its size from the top 50 to the top 100 wealthiest individuals. This year’s top 100 are worth a staggering £10.708 billion in total. In the 2007 issue, the top 50 were worth £6.73 billion, by contrast this years top 50 are worth £10.262 billion. Compared to last year, this represents a near 44% rise in a year, which is the highest increase ever recorded in any British rich list in a single year since the first such list was produced 20 years ago. The entry level to the list of 100 is £5m rising to the top fortune of an incredible £1.5 billion. The average wealth of these 100 individuals is just under £108m, which is outstanding for a community that has only been established in the last half century in the UK.

Of the top 100, only 15 people actually inherited their wealth. The other 85 made their own fortunes through sheer hard work and determination. This 85% figure is slightly less than last years 90%, reflecting the increasing number of Greek shipping fortunes. The Sunday Times Rich 1000 has around 75% self made in its list so in comparison, the Greek community are ahead of these national figures in terms of creating their own income.

This year there is an additional 5 women compared to last year included in the list bringing the total up to 7. The richest being Elena Ambrosiadou (Hedge Funds) valued at £200m. The youngest in the list is Andrew Michael (Internet) aged 28 valued at £46m and the oldest John Goulandris (Shipping) aged 79 valued at £300m. You will also find many household names including easyGroup’s Sir Stelios Hadji-Ioannou, TV personality Theo Paphitis of “Dragon’s Den”, entertainer George Michael, Peter Andre and his wife Katie Price and hair stylist Nicky Clarke. There are some individuals featuring in the magazine from the UK and also from the US who you would not expect to be of Greek decent so there are a few surprises in store.

Some interesting facts are that of the top 100, 75 individuals are based in London, the most prominent star signs are Pisces and Libra, the least being Aquarius and Taurus, the most common surname is Christodoulou, the 1950’s produced the highest percentage of millionaires today and the Property and Construction business sector yielded the most millionaires featured in the list.

Thousands of names were put forward for this list. They were all were checked and the vast majority did not make the grade. Hi-tech software linked to Companies House was used to investigate around 15,000 Greek or Greek Cypriot names who were company directors. The software enabled Philip Beresford to scan all those directors with stakes in companies which had profits of over £250,000 or net assets of £2.5m or more. Those millionaires & billionaires whose wealth can be proven in terms of assets and profits have been included in the list. Many who are regarded to be very wealthy in the Greek community do not produce full accounts, preferring to file only abbreviated accounts at Companies House. These individuals have not been included in the list for this reason as their wealth cannot be proven.

Those who qualify for this list include Greek & Greek-Cypriot immigrants who are now British residents and their children. Also included are some Greek business people based in Greece and Cyprus who have a close association with Britain in terms of education, residence and stock market flotations in London.

As well as personal profiles into the backgrounds of the top 100 wealthiest Greek and Greek Cypriots based in the UK, the Greek Rich List also includes a special feature of the 10 wealthiest Greek Americans by Forbes, celebrity gossip pages from the UK and the USA and other interesting articles.

The list has been sponsored for a second year by Axiom Capital is an international corporate finance advisory firm, which specialises in providing financial advice to both public and private UK and Overseas corporations.

Greek Rich List Issue 2 is now due for release. It will be available to purchase from the website www.greekrichlist.com . If your company would be interested in sponsoring the upcoming ‘World Greek Rich List’ edition please contact info@greekrichlist.com

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If you would like more information about this topic please visit www.greekrichlist.com

To schedule an interview with Philip Beresford and Savvas Pavlou:

Tel: + 44 (0) 20 8840 1914 Mobile: +44 (0) 7946 673965
Email: savvas@greekrichlist.com

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