John Latsis, 93; Billionaire Greek Shipping Magnate and Entrepreneur

John Latsis, the last of Greece’s shipping billionaires from the postwar boom years whose staggering wealth was used to gain access to world leaders and aid the needy, died Thursday. He was 93.

Latsis’ business empire -- which included shipping, banks, refineries and construction companies -- was worth more than $5 billion by some estimates. His son, Spiro, had taken over most of the family business duties in recent years.

The elder Latsis did not share the passion for publicity or reckless living that marked the lives of his contemporaries such as magnates Aristotle Onassis and Stavros Niarchos. John Latsis took great pains to remain out of the public eye. He rarely gave interviews.

Latsis was born in 1910 in Katakolo, Greece. His first jobs were as a laborer and deckhand. He worked his way up in the merchant marines, becoming a captain and later a shipowner.

He eventually expanded into construction, undertaking major projects in Arab countries to open vital links with some of the world’s main oil producers.

In 1969, Latsis established Petrola, the first export-oriented oil refinery in Greece. He also built and operated a major refinery in Saudi Arabia. Latsis also owned a number of European banks, including London’s Private Bank and Trust Co.

He had homes in Athens, London and Geneva, but tried to keep evidence of his wealth to a minimum. The guest list at Bridgewater House, Latsis’ London home near Buckingham Palace, included some of the most powerful people in the world.

He regularly entertained heads of state and royalty, including members of the Saudi royal family. He angered some Greeks by maintaining a close relationship with Greece’s deposed monarch, Constantine.

Latsis provided his 400-foot yacht, the Alexandros, for use by, among others, Prince Charles and Princess Diana, former President Bush and his family, Secretary of State Colin Powell and actor Marlon Brando.

Latsis also used his vast fortune for philanthropy. He started a foundation that made donations to earthquake victims in Greece, Egypt and Armenia.

He is survived by his wife, Erietta Tsoukala; two daughters; and a son.