Vardis I. Vardinogiannis, Greek tycoon and shipping magnate, passed away at the age of 91. His family issued a statement on Tuesday morning saying “With profound sadness, the family of Vardis I. Vardinogiannis announces that our beloved father and grandfather passed away today.”
He was the chairman and controlling shareholder of Motor Oil Hellas rafinery, Vegas Oil and Gas and involved in numerous other shipping and business interests as well as in the banking and media sector.
Vardinogiannis was included in Lloyd’s List’s Most Influential People in Shipping, and the Forbes List with an estimated fortune of US$2.7 billion.
Key assets of the group include Motor Oil, Optima Bank, Vegas Oil and Gas (Egypt), Avin Oil, Piraeus Bank, ANEK Lines, Ellaktor, Star Channel, Alpha TV, NJV Athens Plaza, AVE Group of Companies, Odeon, among others. The flagship of the group was the Motor Oil Greece refinery.
Born on the island of Crete in 1933, he was the fifth child of a farmer family. He graduated from the Hellenic Naval Academy in 1955 and pursued a career in the Royal Hellenic Navy. However, his career was cut short by Greece’s military junta in 1967, leading to his exile on the island of Amorgos due to his anti-dictatorial activities.
Following the death of his brother Nikos in 1972, Vardis took over the family business ventures, expanding them into a vast conglomerate.
By 1989, Vardinogiannis had ventured into the media industry, founding the Greek private TV channels Mega and Star, while from 2018 he held a controlling stake in the Alpha TV network.
Vardis Vardinogiannis was married to Marianna Vardinogianni from 1961 until her death in 2023, with the couple being known for their extensive engagement in philanthropic projects across Greece. The couple had five children.
In 1990, Vardinogiannis was targeted in an attack which involved three rockets fired at his vehicle by the terrorist organization 17 November.
