Alex Spanos – Billionaire
Alexander Gus Spanos (born September 28, 1923) is an American real estate developer and self-made billionaire who founded the A. G. Spanos Companies and is the majority owner of the Los Angeles Chargers of the National Football League (NFL).
Early life and education
Spanos was born in Stockton, California to a Greek family, the son of Greek immigrants, Constantino and Evanthia Spanos. His father owned a bakery where the young Spanos started working at the age of eight. In 1942 he dropped out of college and joined the Army Air Force training as a pilot but left the program and instead served as a tail gunner during World War II. Spanos earned varsity letters in running and diving at the University of the Pacific in Stockton and later distinguished himself as an amateur golfer.
Career
In 1951 he borrowed $800 from a local banker to buy a truck which he then used to sell sandwiches to migrant farm workers in the San Joaquin Valley. By 1955 he had made his first million dollars. He invested his earnings in real estate and at the suggestion of his tax accountants, started to build apartments. In 1960, he founded A.G. Spanos Companies, which by 1977 had become the largest apartment builder in the United States. The corporation is based in Stockton and has 10 subsidiaries.
San Diego Chargers
In 1984, Spanos bought 60% of the San Diego Chargers (now Los Angeles Chargers) from majority owner Eugene Klein for $48.3 million. Over the next 10 years, he bought out the shares of several small co-owners, bringing his control of the team to 97%. The remaining 3% was held by San Diego restaurateur George Pernicano, an investor in the team since a few years after its inception, until Pernicano’s death in October 2016. Since 1993, Spanos’ son Dean has handled the daily operations of the franchise. According to Forbes, as of 2015 the San Diego Chargers are worth $995 million.
| Alex Spanos | |
|---|---|
| Born | Alexander Gus Spanos September 28, 1923 Stockton, California |
| Citizenship | United States |
| Education | University of the Pacific |
| Occupation | Majority shareholder of the Los Angeles Chargers Founder of A. G. Spanos Companies |
| Net worth |  US$2.4 billion(1/12/2017) |
| Spouse(s) | Faye Papafaklis |
| Children | Dean Alexander Spanos Michael Spanos Dea Spanos Berberian Alexis Spanos Ruhl |
| Parent(s) | Constantinos Spanos Evanthia Spanos |
Source:wikipedia