Catsimatidis draws majority of fortune from real estate, energy

TRD NEW YORK /
Jul.July 19, 2013 10:00 AM

The wealth that fills mayoral hopeful John Catsimatidis’ vast coffers comes primarily from his real estate and energy holdings, the Wall Street Journal reported.

Catsimatidis – who puts his own net worth at between $3 billion and $5 billion — is the only mayoral candidate who has refused to release his tax returns. But a financial disclosure report he filed with the city’s Conflicts of Interest Board that was reviewed by the Journal reveals that he owns about 70 properties in locations including New York, Florida, Ohio and Pennsylvania.

But the energy business – Catsimatidis owns hundreds of gas stations — is his most lucrative one, he told the Journal. His Gristedes supermarket chain just about breaks even, he said.

Catsimatidis added that if he were elected, his wife and adult children would hold his power of attorney to make decisions on his real estate portfolio, and his Wall Street investments would be placed in a trust. [WSJ]Hiten Samtani


Related Articles

arrow_forward_ios
Real estate professionals say they are not shaking hands amid the coronavirus outbreak. (Credit: iStock)

Has coronavirus killed real estate’s “handshake deal?”

Shaun Donovan (Credit: Getty Images and Unsplash)

Ex-Obama housing secretary registers as mayoral candidate

John Catsimatidis

John Catsimatidis on why he should be mayor

John Catsimatidis during his 2013 mayoral run (Credit: Getty Images)  

Déjà vu: Catsimatidis thinking about running for mayor again

Catsimatidis scores approval for $300M tower in Florida

Catsimatidis scores approval for $300M tower in Florida

The Greek-American magnate reportedly doesn’t have any immediate plans to change the station.

The Cats’ meow? Red Apple Group CEO buys radio station

Joe Biden and John Catsimatidis (Credit: Getty Images)

John Catsimatidis rejects Joe Biden’s request for campaign funding

John Catsimatidis, St. Nicholas Greek Orthodox National Shrine and Andrew Cuomo (Credit: Getty)

Cuomo seeks donors to finance long-stalled shrine at WTC

arrow_forward_ios
Loading...