George Argyros
Encyclopedia
United States Ambassador to Spain
-Ambassadors:*John Jay**Appointed: September 29, 1779**Title: Minister Plenipotentiary**Presented credentials:**Terminated mission: ~May 20, 1782*William Carmichael**Appointed: April 20, 1790**Title: Chargé d'Affaires...
. He is also a successful real estate
Real estate
In general use, esp. North American, 'real estate' is taken to mean "Property consisting of land and the buildings on it, along with its natural resources such as crops, minerals, or water; immovable property of this nature; an interest vested in this; an item of real property; buildings or...
investor, and was the owner of Major League Baseball
Major League Baseball
Major League Baseball is the highest level of professional baseball in the United States and Canada, consisting of teams that play in the National League and the American League...
's Seattle Mariners
Seattle Mariners
The Seattle Mariners are a professional baseball team based in Seattle, Washington. Enfranchised in , the Mariners are a member of the Western Division of Major League Baseball's American League. Safeco Field has been the Mariners' home ballpark since July...
from 1981 to 1989.
Early and personal life
George Argyros was born in Detroit, MichiganDetroit, Michigan
Detroit is the major city among the primary cultural, financial, and transportation centers in the Metro Detroit area, a region of 5.2 million people. As the seat of Wayne County, the city of Detroit is the largest city in the U.S. state of Michigan and serves as a major port on the Detroit River...
and raised in Pasadena, California
Pasadena, California
Pasadena is a city in Los Angeles County, California, United States. Although famous for hosting the annual Rose Bowl football game and Tournament of Roses Parade, Pasadena is the home to many scientific and cultural institutions, including the California Institute of Technology , the Jet...
. Argyros is a second-generation American citizen; his grandparents emigrated from Greece
Greece
Greece , officially the Hellenic Republic , and historically Hellas or the Republic of Greece in English, is a country in southeastern Europe....
. Argyros graduated from Chapman University
Chapman University
Chapman University is a private, non-profit university located in Orange, California affiliated with the Christian Church . Known for its blend of liberal arts and professional programs, Chapman University encompasses seven schools and colleges: Lawrence and Kristina Dodge College of Film and Media...
in 1959 with a major in Business and Economics. He later served on the board of trustees of that university, including chairman of the board from 1976 to 2001.
He is a member of the board of trustees of California Institute of Technology
California Institute of Technology
The California Institute of Technology is a private research university located in Pasadena, California, United States. Caltech has six academic divisions with strong emphases on science and engineering...
, and the Center for Strategic and International Studies
Center for Strategic and International Studies
The Center for Strategic and International Studies is a bipartisan Washington, D.C., foreign policy think tank. The center was founded in 1962 by Admiral Arleigh Burke and Ambassador David Manker Abshire, originally as part of Georgetown University...
in Washington, DC.
He and his wife of 40 years, Julia, have three grown children and seven grandchildren.
Business
Argyros made his fortune in real estateReal estate
In general use, esp. North American, 'real estate' is taken to mean "Property consisting of land and the buildings on it, along with its natural resources such as crops, minerals, or water; immovable property of this nature; an interest vested in this; an item of real property; buildings or...
investments. He originally started his business career running a grocery store and moved on to buying and selling real estate to gas stations. He also was involved in buying and selling property in Southern California
Southern California
Southern California is a megaregion, or megapolitan area, in the southern area of the U.S. state of California. Large urban areas include Greater Los Angeles and Greater San Diego. The urban area stretches along the coast from Ventura through the Southland and Inland Empire to San Diego...
. From 1981 to 1989 he was the owner of the Seattle Mariners
Seattle Mariners
The Seattle Mariners are a professional baseball team based in Seattle, Washington. Enfranchised in , the Mariners are a member of the Western Division of Major League Baseball's American League. Safeco Field has been the Mariners' home ballpark since July...
baseball team. He has been on the board of directors of many corporations.
Argyros recently has done business through the real estate company Arnel & Affiliates (DBA "Arnel Property Management Company"), which manages apartments and invests in commercial property. Arnel & Affiliates does business primarily in Southern California. Through his business practices Argyros has achieved a net worth
Net worth
In business, net worth is the total assets minus total outside liabilities of an individual or a company. For a company, this is called shareholders' preference and may be referred to as book value. Net worth is stated as at a particular year in time...
around $1 billion.
In 2001 Arnel and Argyros were named in a civil complaint alleging Arnel Management "systematically withheld tenants' security deposits". Soon after its filing, Orange County District Attorney Tony Rackauckas
Tony Rackauckas
Anthony Joseph "Tony" Rackauckas, Jr. is the current District Attorney of Orange County, California and a former Superior Court judge. He was elected on June 2, 1998 and is serving his fourth term in office....
terminated the district attorney's investigation and removed Argyros' name from the case, saying "I felt we had a strong case against the company and it would weaken the case [to include Argyros]." This decision was attacked after it was discovered that Argyros had contributed $30,000 to Rackauckas's campaign. Argyros was confirmed as ambassador to Spain shortly after this case settled.
Politics
Argyros served as a member of the Advisory Committee for Trade Policy and Negotiations for the U.S. Trade Ambassador, resigning that position in 1990, when President Bush appointed him to the board of the Federal Home Loan Mortgage CorporationFederal Home Loan Mortgage Corporation
The Federal Home Loan Mortgage Corporation , known as Freddie Mac , is a public government sponsored enterprise , headquartered in the Tyson's Corner CDP in unincorporated Fairfax County, Virginia....
(FreddieMac). He completed his term on the FreddieMac Board in March 1993.
In 2001 Argyros was appointed Ambassador to Spain and Andorra. He was sworn in on November 21, 2001. Many viewed the appointment as a political reward for his fund raising efforts for the Republican Party
Republican Party (United States)
The Republican Party is one of the two major contemporary political parties in the United States, along with the Democratic Party. Founded by anti-slavery expansion activists in 1854, it is often called the GOP . The party's platform generally reflects American conservatism in the U.S...
.
Baseball
In 1981, Argyros bought the Seattle Mariners. The team had struggled from inception in 1977 as an expansion team. He ran the team on a shoestring budget and made noises about moving the team elsewhere. Argyros sold the team to Jeff SmulyanJeff Smulyan
Jeffrey Smulyan born April 6, 1947, in Indianapolis, Indiana is the founder and CEO of Emmis Communications.He earned undergraduate and law degrees from the University of Southern California....
in 1989.
See also
- List of billionaires
- Chapman University, Argyros School of Business and EconomicsChapman University, Argyros School of Business and EconomicsThe Chapman University Argyros School of Business and Economics is a private research and academic institution at Chapman University in Southern California...