How a softly spoken former labourer amassed a fortune through investing
The billionaire patriarch of one of the richest families in Canada has passed away aged 69.
Andreas Apostolopoulos, known as Andy, came to Canada as a teenager in the late 1960s. He was born in Greece and over the coming years his family became one of the richest Greek families in North America.
Apostolopoulos was a softly spoken and modest man and began his working life in Canada as a labourer before starting an office cleaning company and then a plastic bag manufacturing business.
But the real estate industry was to be the key to his fortune of around $4 billion, thanks to his adept redevelopment of properties in empty business areas and communities, into useful income-producing real estate assets.
The announcement of his sudden death came Tuesday from Triple Group, the company that he built over many years into Canada’s largest privately held real estate corporations into a multi-billion-dollar empire.
One of the highest-profile investments that Andy Apostolopoulos and his family made was the acquisition of the Silverdome in Pontiac, Michigan. The 2009 deal made international headlines.
The family is also developing the Durham Live casino and entertainment complex in Pickering, Ontario, announced in 2015.
Triple Group’s statement says that the firm’s chairman and CEO passed away peacefully at home on February 15, 2021.
It says he was “a proud Greek-Canadian, a passionate businessman, and above all, a deeply devoted family man. He is survived by his wife, sons Jim, Peter and Steve, their spouses, and five grandchildren.”
His legacy is defined by his ability to “inspire, encourage and support those around him to achieve their dream.”
In addition to his outstanding business achievements, he received an honourary degree, and he was a giving philanthropist.