business

Sanctions after the invasion of Ukraine sent tanker values soaring, boosting the fortunes of these Greek maritime moguls to record highs and minting at least seven new 10-figure fortunes.Forbes estimates there are now at least 12 shipping billionaires in Greece, more than at any other time in history. Seven of them are making their debut in Forbes’ billionaire ranks. They are worth a collective $32 billion—the equivalent of roughly 12% of the country’s gross domestic product.These tycoons are the latest in a line of swashbuckling pioneers hailing back to iconic figures like Aristotle Onassis and Stavros Niarchos, who launched the global oil tanker trade after World War II and became famous for their glamorous marriages and lifestyles. This newer group has been in shipping for decades but kept a lower profile. (Despite their success, none would speak to Forbes, while their representatives either declined to comment or did not respond.)Read the full story on Forbes: https://www.forbes.com/sites/giacomotognini/2024/05/13/meet-the-greek-shipping-billionaires-getting-rich-off-russian-oil/?sh=6323b9ce74f10:00 Introduction0:24 Greece’s Presence In The Shipping Industry2:46 How Has Greece Made So Much Revenue With Shipping6:59 How Onassis and Niarchos Reached 10 Figure Status12:44 Tax Sanctions And Where It Applies In Greece15:20 How Long Will Greece’s Shipping Boom LastSubscribe to FORBES: https://www.youtube.com/user/Forbes?sub_confirmation=1Fuel your success with Forbes. Gain unlimited access to premium journalism, including breaking news, groundbreaking in-depth reported stories, daily digests and more. Plus, members get a front-row seat at members-only events with leading thinkers and doers, access to premium video that can help you get ahead, an ad-light experience, early access to select products including NFT drops and more:https://account.forbes.com/membership/?utm_source=youtube&utm_medium=display&utm_campaign=growth_non-sub_paid_subscribe_ytdescriptStay ConnectedForbes newsletters: https://newsletters.editorial.forbes.comForbes on Facebook: http://fb.com/forbesForbes Video on Twitter: http://www.twitter.com/forbesForbes Video on Instagram: http://instagram.com/forbesMore From Forbes: http://forbes.comForbes covers the intersection of entrepreneurship, wealth, technology, business and lifestyle with a focus on people and success.