Alex Spanos
From Wikipedia, the free encyclopedia
Alexander Gus Spanos (born September 28, 1923 in Stockton, California) is an American real estate developer and self-made billionaire of Greek[1] origins who owns the San Diego Chargers. He is currently married and the father of four children. He lives in Stockton, California.
According to Forbes, in 2004 Spanos was worth $1.1 billon[2]. He has written a book called Sharing the Wealth: My Story which details his rise from a moneyless man of 27 years to one of the world's few billionaires. He started and owns A.G. Spanos Companies, one of the largest construction services companies in the United States [3]. The corporation is currently based in Houston and has ten different subsidies.
Spanos began like working as a baker, but when the business nearly went bankrupt, he decided to go in a different direction. In 1951, he used an $800 loan to purchase a small trucking company, which he turned into a successful enterprise. Spanos used his profits to invest in real estate, and by 1960, he had an incorporated business.
In 1984, Spanos bought 60% of the San Diego Chargers from majority owner Eugene Klein. Over the next ten years, he bought out the shares of several small co-owners, brining his control of the team to 97%. However, he remains partnered with retired San Diego restaurateur George Pernicano, an investor in the team since a few years after its inception. Since 1994, Spanos's son Dean has handled many of the daily operations of the franchise.
Spanos was also the recipient the AHEPA Award, the prestigious awards to recognize members of the community for their contributions and achievements in their chosen field of endeavor. Spanos was also one of the largest contributors to George W. Bush's campaign in 2004. By contributing $5 million to 527 groups that supported the Bush campaign in 2004, Spanos ranked among the top five GOP donors. President Bush appointed Spanos to the Kennedy Center board in 2004.
In 1997, San Diego taxpayers agreed to spend $78 million to renovate the Chargers’ Qualcomm Stadium in return for a pledge that the Chargers would stay in San Diego until 2020. The city also agreed to buy any leftover tickets that the Chargers do not sell at games. By 2000, however, Spanos was complaining that the team needed yet another new stadium. This apparently was news to the NFL, which already had planned to hold the 2003 Super Bowl at the old stadium. Wildfires that torched San Diego in 2003 have made it all the harder for Spanos to make a case for public funding of a new Chargers stadium, despite threats that he might move the team to Los Angeles.
Spanos is also known for his wonderful Christmas displays at his house, which has delighted generations of Stockton families. Unfortunately, most Stocktonians tend to have a negative association with Spanos outside of his annual light display. This is largely due to the extensive housing development, commonly referred to as "urban sprawl", which he has been responsible for building throughout Stockton. Some negative effects of his building projects have been extensive loss of farm land, and a sharp drop in value for surrounding property owners.
- A Biography on Hellenic News of America
- Local News Interview from KOVR 13, Sacramento
- Overview of Sharing the Weath
- Texans for Public Justice
- http://www.chargers.com/team/front_office/alex-g-spanos.htm?&modulePageId=7
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