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John Catsimatidis

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John A. Catsimatidis(born September 7, 1948) is an Americanbillionairebusinessman andradio talk showhost. He is the owner, president, chairman, andCEOof grocery chainsGristedesandD'Agostino SupermarketsinManhattan,as well as the Red Apple Group, a real estate and aviation company with about $2 billion in holdings inNew York,FloridaandPennsylvania.[1]He is also the chairman and CEO of the Red Apple Group subsidiaryUnited Refining Company.

John Catsimatidis
Catsimatidis in 2011
Born(1948-09-07)September 7, 1948(age 76)
Nisyros,Greece
EducationNew York University
Occupation(s)Businessman
Political candidate
Political partyDemocratic(before 2009)
Republican(since 2009)
Board member ofOwner ofGristedes Foods
Owner ofHellenic Times Newspaper
Chairman of Red Apple Group
Chairman ofUnited Refining Company
Spouses
first wife
​
(divorced)​
Margo Vondersaar
​
(m.1988)​
ChildrenAndrea Catsimatidis
John Catsimatidis Jr.

Catsimatidis is also atalk radio showhost. He hostsThe Cats Roundtableon WABC and theCats at Nightshow. He acquired the WABC radio station in 2019.

Catsimatidis was therunner-upin theRepublicannomination formayor of New York Cityin the2013 election.

Early life

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Catsimatidis was born on the Greek island ofNisyroson September 7, 1948. He came to the United States with his parents when he was six months old.[1]The family moved toWest Harlem,where Catsimatidis grew up. Catsimatidis' father had been alighthouseoperator in Greece but worked as abusboyin New York. Catsimatidis graduated fromBrooklyn Technical High Schoolin 1966. He received a congressional nomination toWest Point,but chose to studyelectrical engineeringatNew York Universityinstead.[2]

While in college, Catsimatidis worked for the uncle of a friend, Tony, in a small supermarket on 137th Street which Tony and his uncle owned. While Catsimatidis was still in college, Tony sold his half of the store to Catsimatidis.[2]Catsimatidis completed four years of college, but dropped out eight credits short of graduating.[1]

Business career

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In 1971, Catsimatidis opened his first business in Manhattan'sUpper West Side;it was the first Red Applegrocery store.[2][3]Shortly thereafter, he purchased another grocery store on 87th street just west of Broadway, naming it Red Apple. Among his business innovations were keeping stores open late seven days a week, offering free delivery, andcashing checksfor customers.[2]

Catsimatidis has said that by the time he was 24, he had "built up ten stores and the business was doing $25 million a year", and that he was earning $1 million per year. By the summer of 1981, Red Apple had 27 stores in the Bronx and Manhattan, with annual sales of around $40 million. Red Apple's sales grew to $110 million in 1985.[2]

In 1986, Red Apple purchased 36Gristedessupermarkets and 11 affiliated Charles & Co. speciality-food stores from theSouthland Corporation.In 2009, it was reported that Catsimatidis's main holdings included 50 Gristedes supermarkets, 371gas stationsin three states, $500 million in real estate, and an expanding oil business.[2]

In 1986, Catsimatidis acquiredUnited Refining Co.,the owner of gasoline refineries in Pennsylvania andAlabama.[2]In October 2009,Forbesmagazine reported that United Refining Energy Corp., a publicly-tradedspecial-purpose acquisition companysponsored byUnited Refining Company,was purchasing "privately held Chaparral Energy in a deal worth roughly $1.6 billion."[4]However, United Refining Energy Corp. shareholders did not approve the deal and it was terminated in December 2009.[5]Catsimatidis is the chairman and CEO of United Refining Co.,[6]which is a subsidiary of the Red Apple Group.[7]

Kwik Fill sign, January 2013

In 2008, Catsimatidis became engaged in efforts to take overSemGroup LP,abankruptoil, gas, and asphalt trading, storage and transportation company, headquartered inTulsa, Oklahoma.Catsimatidis gained control over a majority of the company's management committee, but his efforts were met by opposition from the company's existing management, who argued for selling off at least some of the company's assets, while Catsimatidis wanted to keep the company together.[8]In February 2009, Catsimatidis was sued by a group of SemGroup executives, who sought the removal of Catsimatidis and his allies from the committee.[9]In July Catsimatidis reached a settlement with SemGroup, pursuant to which he acquired a piece of SemGroup's asphalt business and dropped his competing plan for the company's proposed reorganization.[10][11]

In 2015, the Red Apple Group ranked 156th onForbesmagazine's list of "America's largest private companies", with revenue of $3 billion and 8,000 employees. (This compares to its 2008 and 2009 rank, both at 100th, 2010 at 78th, 2011 at 98th, and 2012 at 97th).[3]

Catsimatidis is a minority investor in the political newspaper and websiteThe Hillas referenced on the website's articles which mention him.[12][13]

Catsimatidis shared hisrags-to-richesstory in hismemoirHow Far Do You Want To Go?: Lessons From A Common-Sense Billionaire;published byMatt Holt,in February 2023.[14]

Radio

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On Sunday mornings, Catsimatidis hosts thetalk radio showThe Cats Roundtable.The show originated onWABCradio and issyndicatedto other stations around the U.S.[15]Catsimatidis also hosts the one-hourCats at Nightshow, heard weeknights on WABC and also available as apodcast.[16]In 2019, he acquired WABC for $12.5 million.[17]

Political activities before mayoral campaigns

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Catsimatidis and his wife have made contributions to a variety of bothRepublicanandDemocraticcampaigns. Among Republicans, the Catsimatidises contributed over $60,000 to theRepublican National Committee,and have also made significant contributions to theNational Republican Congressional Committee,National Republican Senatorial Committee,Mitt Romney,Eric Cantor,Olympia Snowe,Richard Lugar,and others. Among Democrats handful ofDemocraticcampaigns, including toCarolyn B. Maloney,Charlie Rangel,andJerrold Nadler.[18]In local New York City races, Catsimatidis has given toBill de Blasio(while he was a city councilman),Brooklyn Borough PresidentMarty Markowitz,Cyrus Vance Jr.,and Staten Island borough presidentJames Molinaro.[19]In the1992 Democratic presidential primaries,Catsimatidis contributed $150,000 to the campaign of fellow Greek-AmericanPaul Tsongas.[20]

Catsimatidis put on a fundraiser in 2006 withMichael Bloombergfor SenatorJoe Liebermanof Connecticut to support histhird partyrun as an independent after Lieberman lost the Democratic primary nomination for reelection to the Senate.[21]

Catsimatidis has been described as a "longtime",[22]"loyal",[23]and "high-level Clinton donor".[24]Catsimatidis donated a significant sum to theClinton Presidential Center,thought to be between $100,000 and $500,000.[25]Catsimatidis was a member ofHillary Clinton's finance team during her2008 campaign for the Democratic presidential nomination,saying in February 2007 of Clinton, "She's unstoppable. She's got such a machine."[26]Catsimatidis hosted a number of fundraising dinners withBill Clintonat his home in New York that in total raised well in excess of $750,000 for Hillary Clinton's campaign.[22]Catsimatidis has said that he is friends with Bill Clinton and that the former president "often" has flown in one of Catsimatidis' two airplanes.[1]Hillary Clinton attended Catsimatidis' daughter's wedding.[1]

In 2015, press reports indicated that Catsimatidis donated the use of a chartered jet valued at $70,000 to theRepublican primary campaignofScott Walker.[27]

Politics

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2009 mayoral campaign

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A donor to Bill Clinton during the Clinton years, Catsimatidis, while still enrolled as a Democrat, considered becoming a candidate in the2009 mayoral electionas a Republican.[28][29]In May 2007, he was reported to be "systematically wooing local Republicans", attending various Republican fundraisers in Queens and Staten Island and stating that he would "probably have a press conference" to announce his intentions "sooner rather than later" and would consider spending between $30 million and $40 million if he ran.[29]

In 2008, Catsimatidis was viewed as a potential mayoral candidate.[30]By July 2008, Catsimatidis formed an exploratory committee.[31]In 2009, Catsimatidis spent nearly $300,000, much of it on polls and consultants, to explore a candidacy. He said he only agreed to drop out after Bloomberg informed him of his plans to seek a third term.[28]Once the city term limits law was changed to allow Bloomberg to run for a third term, Catsimatidis quietly withdrew.[28][19]

2013 mayoral campaign

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During the spring of 2012, Catsimatidis described his dismay over the quality of the announced as well as the presumed candidates. He suggested that he would support New York City Police Commissioner Raymond Kelly, but when Kelly repeatedly denied any intention to run, Catsimatidis expressed his own interest.[32]

In December 2012, Catsimatidis established an exploratory committee to consider running for mayor.[28]On January 3, 2013, he filed paperwork with the New York City Campaign Finance Board.[33]

Catsimatidis made his official announcement on January 29, 2013, vowing to be "a leader forHarlemandWall Street."[34]He stated "I'm not a Mike Bloomberg billionaire. I'm not wearing a $5,000 suit."[35]Through May 15, Catsimatidis (a self-financed candidate) had spent $880,000 on the campaign, mostly on television and radio ads, but also on billboards and items including lip balm and groceries.[36]He hired acampaign consultingfirm, Millennial Strategies LLC, that mostly works on Democratic campaigns.[37]

On a December 13 appearance onInside City Hall,Catsimatidis compared raising taxes on the wealthy to how "Hitlerpunished the Jews ".[38]

Catsimatidis expressed support for theNew York City stop-and-frisk program,and two weeks after theBoston Marathon bombing,his campaign ran a radio ad attacking "career politicians want to end stop and frisk and cut the NYPD's powers of surveillance."[39]At a candidates' forum Catsimatidis suggested that "arobot"or other future technology would make the stop-and-frisk program unnecessary in the future, but stated that until that time the program should continue.[40]

At campaign events in April 2013, Catsimatidis claimed that he could have beatenBarack Obamain the2012 presidential election[41]and got into a contentious exchange with various Republican audience members, telling one to "gobullshityourself if you want! "[42][43]

Among the "off-the-cuff—and off-beat—policy proposals" that Catsimatidis suggested during the campaign included giving policetricyclesto improve mobility, allowingcasinosin hotels, and launching a program to give freepet foodto people who adopt homeless animals.[44]Catsimatidis's economic proposals include a revival of the1964 New York World's Fair.[28]The New York Timesreported that Catsimatidis "struck an odd note when discussing education policy, expressing unease about the makeup of his daughter's graduating class from New York University'sStern School of Business,"stating that" I think close to 480 of the 580 were Asian — Asian including India. And, it was scary. And then when you think about it, we’re going to deport most of these kids. "[28]

Catsimatidis called forstreet vendorsto be limited to certain areas, and prohibiting setting up within 300–500 feet of stores selling the same products, complaining at a candidates' forum that "We have cart people right in front of our doorstep. They're selling bananas for half price in front of my own stores. That is wrong."[45]

In the September 2013 Republican primary, Catsimatidis lost toJoseph J. Lhota,receiving 24,864 votes to Lhota's 32,236 votes.[46]Catsimatidis did carry the borough of Staten Island.[47]

Catsimatidis could have chosen to contest the general election on two otherballot lines,either that of theLiberal Party of New Yorkand of a third-party line he created in summer 2013, but two days after his primary, he announced that he would withdraw from the race.[48]

Since 2013

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Former U.S. AttorneyGeoffrey S. Bermanand Catsimatidis delivering remarks at the Police Athletic League's Business Luncheon in 2018

Together with his spouse, Catsimatidis contributed $515,000 toDonald Trump's2020 presidential campaign,[49]and he is a vocal Trump supporter.[50]

The New York Timesreported in October 2020 that Catsimatidis and his family run the Manhattan Republican Party; his daughterAndreais the chairwoman,[50]and Catsimatidis, his wife Margo Catsimatidis, and his son John Catsimatidis Jr. are vice-presidents.[51]Between February and July 2020, Catsimatidis contributed $50,000 of the party's $52,000 of income.[50]

Catsimatidis said he considered running in the2021 New York City mayoral election.[52]He originally suggested he'd run as aDemocrat,but retracted that and suggested he would either run again as aRepublicanor as a member of theLiberal Party.[53]

Catsimatidis told theWashington Examinerin April 2023 that he was ruling out supportingFlorida governorRon DeSantisin the2024 Republican Party presidential primaries,due to the latter not returning his phone calls.[54]

On April 24, in an interview withSteve Bannon,Catsimatidis hinted at a potential run in the2025 New York City mayoral election.He spoke about law and order, and proposed to clean up the streets in 60 days. He also said he would pressure the president ofColumbia Universityto stop pro-Palestinian protesters, and supported nuclear energy.[55][full citation needed]

Personal life

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On October 2, 1988, Catsimatidis married Margaret "Margo" Vondersaar at theGreek Orthodox Archdiocesan Cathedral of the Holy Trinityin New York;[56]the two had met when she became hissecretaryin 1972. A previous marriage had ended in divorce;[56]he stated that he was "sometimes" together with Margo while still married to his first wife.[1]At the time of their wedding, Margo led her own advertising agency, MCV Advertising Associates in New York, and was president ofThe Hellenic Times.[56]

Catsimatidis and Margo have two children, Andrea and John Jr.[1]Andrea marriedChristopher Cox,grandson of former PresidentRichard Nixon,on June 4, 2011, at the Greek Orthodox Archdiocesan Cathedral of the Holy Trinity, "before a church packed with family members and political powerhouses."[57]Catsimatidis said that he spent "in excess of $1 million" on the wedding.[1]Andrea Catsimatidis and Cox divorced in 2014.[58]

In the 2024Forbes 400"richest people in America" list, Catsimatidis ranked 299th, with a personalnet worthestimated at $4.5 billion; in theForbeslist of global billionaires, he ranked No. 734.[59]

Philanthropy

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As of 2001, Catsimatidis was one of the largest donors to the G&P Foundation for Cancer Research[60]He founded and was co-chairman of Brooklyn Tech Endowment Foundation, which benefited his alma mater.[61]Catsimatidis funds the John Catsimatidis Scholarship Fund at theNew York University Stern School of Business,which has since 1988 awarded two scholarships each year.[61]Catsimatidis was for five years president of the Manhattan Council of theBoy Scouts of America.[61]He has been on the board of directors of thePolice Athletic League of New York City,[61]and theDrum Major Institute.[62]

Other organizations with which Catsimatidis has been active are theNational Kidney Foundation,Juvenile Diabetes Foundation,Young Men's Philanthropic League, andAlzheimer's Foundation of America.[61]Catsimatidis was the vice-chairman of the Ellis Island Awards Foundation of the National Ethnic Coalition Organization (NECO), and received an Ellis Island Medal of Honor from that organization.[63]

In light of the2022 Russian invasion of Ukraine,Catsimatidis created the WABC Radio Foundation to provide humanitarian relief for Ukrainians in need.[64]

References

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  1. ^abcdefghElkies, Lauren (August 1, 2011)."John Catsimatidis".The Real Deal.
  2. ^abcdefgRobert Levin,John of All Trades – An Interview with John Catsimatidis(April 1, 2009).New York Enterprise Report.
  3. ^ab"Red Apple Group".Forbes.RetrievedJanuary 26,2022.
  4. ^Helman, Christopher (October 12, 2009)."Catsimatidis To Buy Chaparral Energy".Forbes.Retrieved26 January2022.
  5. ^Catsimatidis company ends Chaparral questArchived2012-10-09 at theWayback Machine,Tulsa World,December 14, 2009.
  6. ^Altus, Kristen (March 3, 2023)."Self-made billionaire shares the secret to success for young generations".FOXBusiness.
  7. ^Bautista, Christian (July 19, 2018)."Red Apple Group subsidiary signs lease at SL Green's 800 Third Avenue".The Real Deal.
  8. ^Rod Walton, "Business brawler?"Tulsa World,January 25, 2009.
  9. ^SemGroup executives sue Catsimatidis; SemGroup Energy Partners also warns of asphalt meltdownArchived2012-10-04 at theWayback Machine,Tulsa World,February 11, 2009.
  10. ^Rod Walton,SemGroup suitor drops out: The colorful New York billionaire settles for asphalt assetsArchived2012-10-07 at theWayback Machine,Tulsa World(July 21, 2009).
  11. ^Catsimatidis to support SemGroup reorganization,Reuters (July 20, 2009).
  12. ^"The Hill's owner seeks potential buyers, investors".POLITICO.January 3, 2020.RetrievedDecember 13,2020.
  13. ^Williams, Jordan (December 13, 2020)."Dershowitz: Supreme Court ruling shows 'you can't count on the judiciary' if you're Team Trump".The Hill.RetrievedDecember 13,2020.
  14. ^"New York Post Spotlights John Catsimatidis' Memoir".The National Herald.February 28, 2023.
  15. ^"The Cats Roundtable".WABC.RetrievedMay 12,2022.
  16. ^"Podcast: Cats at Night with John Catsimatidis".WABC.RetrievedMay 12,2022.
  17. ^Kim, Betsy (June 27, 2019)."John Catsimatidis Acquires 77 WABC-AM Radio for $12.5M".GlobeSt.
  18. ^Federal campaign contributions,reported byOpenSecrets
  19. ^abCeleste Katz,"The End of Catsimatidis For Mayor"ArchivedMay 10, 2010, at theWayback Machine(May 20, 2009),Daily News.
  20. ^Greek-Americans Reconsider Tsongas (March 2, 1992),The State,5A.
  21. ^Jill Gardiner,Bloomberg to Host Fund-Raiser for Lieberman(September 18, 2006),New York Sun.
  22. ^abAssociated Press,In fundraising sweepstakes, expectations high for Clinton(March 16, 2007).
  23. ^Patrick Healy,Obama Meets Party Donors in New York(December 5, 2006),The New York Times.
  24. ^Patrick Healy and Eric Konigsberg,How to Socialize With an Ex-President? Finance His Good Deeds(October 28, 2006),The New York Times.
  25. ^Josh Gerstein,Saudis, Arabs Funneled Millions to President Clinton's Library(November 22, 2004),New York Sun.
  26. ^Calvin Woodward and Nancy Benac,Clinton goes from inevitable nominee to on the ropes(May 11, 2008), Associated Press.
  27. ^Lichtblau, Eric (31 July 2015)."Super PACs Spent Millions Before Candidates Announced Filings Show".The New York Times.Retrieved2 August2015.
  28. ^abcdefMichael M. Grynbaum,Again, Supermarket Mogul Weighs Running for Mayor(December 31, 2012),New York Times.
  29. ^abCeleste Katz,Catsimatidis Gets Serious?Archived2013-06-30 atarchive.today(May 25, 2007),New York Daily News
  30. ^Peter Kiefer,Bloomberg Could Clash With Lauder(April 14, 2008),New York Sun.
  31. ^Grace Rauh,Catsimatidis Readies For 2009 Mayoral Run(July 31, 2008).
  32. ^"John Catsimatidis, NY 1 interview, June 2, 2012".YouTube. 2012-06-05.Archivedfrom the original on 2021-12-21.Retrieved2013-11-06.
  33. ^Jonathan Lemire,Former MTA chief Lhota in secret meeting with GOP rival Castimatidis to scout out Republican mayoral primary prospects: source(January 4, 2013).
  34. ^Hunter Walker,Mayoral Hopeful John Catsimatidis Vows to Be a Leader "For Harlem and for Wall Street"(January 29, 2013),Politicker.
  35. ^Hunter Walker,John Catsimatidis: 'I'm Not a Mike Bloomberg Billionaire',Observer(January 29, 2017).
  36. ^Jill Colvin,John Catsimatidis Spending Big on Billboards, Lip Balm and Candy(May 15, 2013),Politicker.
  37. ^Colin Campbell,John Catsimatidis Hires a Democratic Firm(April 1, 2013),Politicker.
  38. ^Colin Campbell and Hunter Walker,John Catsimatidis Explains Why Ta xing the Rich Is Like Nazism and More(December 14, 2012),Politicker;Chris Bragg,GOP chairmen react to Catsimatidis' 'Nazi' comment(February 11, 2013),Crain's New York Business.
  39. ^Celeste Katz,NY Mayor Hopeful John Catsimatidis Goes To Air With Terrorism-Focused Radio Spot(April 29, 2013),New York Daily News.
  40. ^Ross Barkan,John Catsimatidis Suggests Robotic Solution to Stop-and-Frisk Controversy(March 22, 2013),Politicker.
  41. ^Colin Campbell,John Catsimatidis Says He Could Have Defeated Barack Obama(April 29, 2012),Politicker.
  42. ^Colin Campbell,John Catsimatidis Holds Contentious Court in Brooklyn(April 28, 2012),Politicker.
  43. ^Adam Martin,Who Yelled It Better? "Bullsh*t" As Screamed by Chris Christie and John Catsimatidis(May 1, 2013),New York.
  44. ^Andrew Grossman,Mayoral Candidate Catsimatidis Doesn't Lack for Ideas: Republican Often Makes Off-the-Cuff—and Off-Beat—Policy Proposals(May 19, 2013),Wall Street Journal.
  45. ^Erin Durkin,Mayoral hopeful Catsimatidis goes bananas over fruit carts(May 1, 2013),New York Daily News.
  46. ^September 2013 Republican primary election results,New York City Board of Elections.
  47. ^Celeste Katz,As Joe Lhota Courts Democrats, Brooklyn GOP Chief Rallies the Party Faithful,Daily News(October 2, 2013).
  48. ^"Catsimatidis Bows Out of Race for Mayor - Metropolis - WSJ".Blogs.wsj. 2013-09-13.Retrieved2013-11-06.
  49. ^"Here Are The Billionaires Who Donated To Donald Trump's 2020 Presidential Campaign".Forbes.Retrieved27 March2024.
  50. ^abcRubinstein, Dana; Paybarah, Azi (October 17, 2020)."N.Y.C. Was Once a Bastion of G.O.P. Moderates. Then Trump Came Along".The New York Times.RetrievedOctober 19,2020.
  51. ^"Officers and Staff".Official Web Site.Manhattan Republican Party.RetrievedOctober 19,2020.
  52. ^Phillips, Morgan (January 14, 2021)."Billionaire Trump donor Catsimatidis mulling NYC mayoral run as a Democrat".Fox News.RetrievedJanuary 15,2021.
  53. ^Durkin, Erin (February 14, 2021)."Catsimatidis won't join Democratic race for mayor".Politico.RetrievedFebruary 17,2021.
  54. ^"Republican billionaire rules out supporting DeSantis: 'Doesn't even return phone calls'".Washington Examiner.2023-04-26.Retrieved2023-09-19.
  55. ^"Bannon's War Room".Rumble.2024-04-24.
  56. ^abcJohn Catsimatidis Wed To Margo Vondersaar(October 3, 1988),New York Times.
  57. ^Cara Buckley,Andrea Catsimatidis and Christopher Cox(June 16, 2011),The New York Times.
  58. ^Nuzzi, Olivia (2019-07-23)."A Lobster Dinner With the 'Billionaire Heiress' Chair of the Manhattan GOP".Intelligencer.Retrieved2020-03-11.
  59. ^"John Catsimatidis".Forbes.2024-10-07.Retrieved2024-10-07.
  60. ^Mariah's Movie: Labor Day Release Beckons(April 13, 2001), Fox News.
  61. ^abcdeCatsimatidis Is Greek Independence Parade ChairArchived2016-06-03 at theWayback Machine(January 31, 2007),Queens Gazette.
  62. ^John Catsimatidis,Drum Major Institute.
  63. ^"John A. Catsimatidis".Archived fromthe originalon June 16, 2007.RetrievedSeptember 25,2019.
  64. ^"WABC Radio Foundation - Donate | 77 WABC".wabcradio.March 21, 2022.RetrievedMarch 24,2022.
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