The Real Deal New York

How John Catsimatidis became a billionaire: VIDEO

By Business Insider | August 15, 2013 03:30PM

Growing up in Harlem, John Catsimatidis was never thinking of getting into business. While studying engineering at New York University, he delivered groceries at Sloan’s Supermaket.  After a couple of years, his boss, Tony sold him his stake in the store.

As he recalls, “He sold me half the business for ten thousand dollars in notes and said, ‘pay me whenever you have it.'”

In less than four years he opened ten more outposts. Not only was he able to pay Tony back, he also succeeded in making his first million.

Catsimatidis also went on to buy the Gristedes grocery store chain, and turned into a profitable franchise.

Watch below to hear his rags to riches story. Catsimatidis is currently running for New York City mayor in the Republican primaries.