#783

George Economou

Greece 73 years old Self-Made

Overview

Source of Wealth
Shipping
Industry
Logistics
Residence
Monaco
Education
Massachusetts Institute of Technology (Bachelor of Arts/Science)
Massachusetts Institute of Technology (Master of Science)
Marital Status
Divorced
Children
5

Assets

  • Genco Shipping & Trading Limited
    220,994 shares @ -
    -
    GNK-US
  • OceanPal Inc.
    0 shares @ -
    -
    SVRN-US
  • Performance Shipping Inc.
    1,033,859 shares @ -
    -
    PSHG-US
  • Seanergy Maritime Holdings Corp.
    1,859,069 shares @ -
    -
    SHIP-US
  • Transocean
    3,712,522 shares @ -
    -
    RIG-US

Biography

George Economou is a Greek shipping tycoon who owns several privately-held firms under his TMS Group.

He took one of those firms, Dryships, public on the Nasdaq in 2005 before ultimately taking it private again in 2019 at a $456 million valuation.

In 2018, he sold offshore drilling firm Ocean Rig to publicly traded TransOcean at a $2.7 billion valuation, just 18 months after the firm filed for bankruptcy.

Between August and December 2023, Economou bought large positions in several publicly-traded shipping firms in the U.S.

Outside of shipping, he owns an estimated $250 million art collection including works by Pablo Picasso. Part of it is on display in his private museum in Athens.

About

Dryships made headlines due to volatile trading and several reverse stock splits in 2016 and 2017 that saw its stock price rise by 1,500% before plunging by 99%.

Economou also owns homes in Connecticut, Greece, London, New York, St. Barts and Saint-Tropez, plus the luxury Armonia Residences south of Athens.