George Argyros

George Leon Argyros (born 1937 in Detroit, Michigan) is the former United States Ambassador to Spain. He is also a successful businessman and former Major League Baseball owner.

Early life

George Argyros was born in Detroit, Michigan and raised in Pasadena, California. Argyros is a second-generation American citizen; his grandparents emigrated from Greece. Argyros graduated from Chapman University 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, and The Center for Strategic and International Studies in Washington, DC.

He and his wife of 40 years, Julia, have three grown children and six grandchildren.

Business

Argyros made his fortune in real estate 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 apartments. From 1981 to 1989 he was the owner of the Seattle Mariners 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 around $1 billion. [cite web | url=http://www.forbes.com/finance/lists/10/2004/LIR.jhtml?passListId=10&passYear=2004&passListType=Person&uniqueId=XWVJ&datatype=Person | title=George Argyros | work=Forbes.com | accessdate=2007-09-28]

In 2001 Arnel and Argyros were named in a civil complaint alleging they defrauded thousands of low-income tenants. Orange County District Attorney Tony Rackauckas said at the time the evidence against the company had merit. [cite news |first=Dana |last=Parsons |title=Did D.A. Give Argyros a Break in Tenant Case? |publisher=L.A. Times |date=July 29, 2001] . Soon after its filing, Rackauckas terminated the district attorney's investigation and removed Argyros' name from the case. 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.cite news|first=James S.|last=Granelli|coauthors=Scott Martelle| title=The Region; Argyros Moves Closer to OK for Spain Post; Inquiry: Senate hearing on developer's appointment as ambassador is expected soon now that a state probe into his apartment firm has been settled|publisher=L.A. Times|date=October 8, 2001]

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 Corporation (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.cite web | url=http://madrid.usembassy.gov/emba/ambargyrosen.html | title=Former Ambassador George L. Argyros | work=madrid.usembassy.gov | accessdate=2007-09-28] Many viewed the appointment as a political reward for his fundraising efforts for the Republican Party.

As U.S. Ambassador to Spain, Argyros spent about half his time in Orange County and the other half in Madrid. He is one of very few American ambassadors to have spent such a substantial time outside the host country while serving as Chief of Mission or Ambassador.

ee also

*List of billionaires

References