paterakis family net worth

An obituary in the Baltimore Sun said John Paterakis Sr. grew his parents' bakery business, H&S Bakery, into one of the largest bakers on the East Coast. Manage Settings Paterakis, who was also a major donor to many of the states political figures, was 87. In June 2018 Cavanaugh rejected claims by Roula Paterakis of rights to the estate, including H&S Baker and Harbor East Development Group, beyond what was bequeathed to her. The opinion upholds Cavanaughs ruling that Roula Paterakis claim she was deprived of her rightful inheritance by sham trust transactions perpetrated by her stepchildren did not have merit. The family denied the allegations and called Roula Paterakis lawsuit desperate., This law suit (sic) appears to be no more than a desperate attempt by Roula to obtain more money than she was left in JPs Will, William Paterakis, John Paterakis Sr. son andchairman of H&S Bakery, wrote in a signed letter to employees in November 2017. In recent months, the family dispute has played out in multiple filings across various courthouses. We intend to vigorously defend our familys good name and the legacy of our father.. (UPDATE: A private service will be held on Thursday, October 20.). Also in Winnetka, and in spot No. Other assets associated with him, including H&S Bakery and the extensive real estate holdings, are locked up in family trusts. One third of $200,000 is a negligible amount of money compared to the total of the Paterakis family fortune, so in Roulas 2017 lawsuit, she tried to persuade the court to include some non-probate assets in the valuation of the estate. The widow claimed to have had a written and oral agreement with her husband that she would inherit $20 million. Other family members and associates include John Paterakis, Karen Philippou, Annette Paterakis, Antoinette Paterakis and Charles Paterakis. John Paterakis Sr., who died in October 2016 at age 87, was an iconic Baltimore businessman and political player. Additionally, it should be noted, the Paterakis family picked up 10 years worth of EZ (Enterprise Zone) tax credits from the state. Roula Paterakis Walks Away From Legal Dispute With Small Fraction of Late Husbands Estate. Funeral arrangements have not yet been announced by the family, who could not be reached for comment. These cookies will be stored in your browser only with your consent. How much Paterakis left behind after his death at age 87 and how much will go to his second wife are at the crux of a family feud playing out in multiple court filings. The filing counters allegations Roula Paterakis made in her own suit, filed Nov. 13 in Baltimore City Circuit Court. Unfortunately, and for personal reasons that I have not been authorized to share with you, Mrs. Paterakis determined that she should settle this matter as she has done and withdraw her action, her attorney, Arnold M. Weiner, said Wednesday. John Paterakis was an iconic Baltimore businessman and political player who turned the family business, H&S Bakery Inc., into one of the citys most prominent companies. The lawsuitalso accused Roula Paterakis of berating and belittling John Paterakis Sr. This website uses cookies to improve your experience while you navigate through the website. She filed a lawsuit in 2017, making public a feud within the family of a patriarch who for all his wealth and influence as a major political donor had lived a largely private life. Charles's annual salary is between $30 . Net worth: $24.5 billion Source of wealth: Hearst Corporation About 67 family members share the fortune that William Randolph Hearst created when he took over the San Francisco Examiner in the . Please read our moderation policy before leaving a comment. An initial inventory of Paterakis' estate was filed on February 27, saying it was worth $116,868.56. Here is Forbes ' definitive ranking of the 50 richest families in America. His widows attorney, Arnold M. Weiner, would not say why she decided to drop her claims to more of her husbands assets. The suit describes the magnate as dependent on round-the-clock nursing care after 2013. Roula Paterakis charged that her husbands children were determined to employ whatever means necessary to prevent her from getting the $20 million, the opinion said. She alleged that Bill Paterakis and Venice Vanessa Paterakis Smith, the siblings designated as the personal representatives of their fathers estate, had tried to get him to divorce her. That petition claimed William J. Paterakis and Venice Paterakis Smith, two of John Paterakis Sr.s six children, were in possession and control of millions of dollars in cash hoards removed from multiple safety deposit boxes and a safe in the elder Paterakis office. On July 19, the Paterakis siblings filed an updated accounting of the estate, adding additional income and subtracting various expenses. Get your evening news in your e-mail inbox. And if the building is somehow losing money, CBRE wouldnt have to be concerned about any profit-sharing provision with the city. To purchase a reprint of this article, contact [emailprotected]. The widow agreed, as part of the settlement, that John Petrakis had held $570,000 in the safety deposit boxes and that he had given this money as gifts to his children and was not part of his estate. "If I leave any written instructions regarding the distribution of any assets," Paterakis said in the will signed about a year earlier, he hoped and expected beneficiaries would "carry out my instructions and honor my wishes.". He and Roula Passon began dating in 1997, she moved in with him in 2001 and they married in 2015, according to her lawsuit. While she and the estate representatives "have made progress toward resolving that dispute," she said, "they need additional time to complete their negotiations. Continue with Recommended Cookies, Your email address will not be published. The dueling lawsuits expose a rift between the businessmans descendants and his second wife. This strategy changed when H&S decided to put the building on the market. Loving father of Stephen Paterakis and his wife Vickie, William Paterakis and his late wife Deborah, Vanessa Smith and her husband Frederick, John Paterakis, Jr. and his wife Emily, Charles. The complaint is the latest salvo in a family feud over the estate of Paterakis, who transformed his fathers small bakery into a multimillion-dollar conglomerate and an underutilized waterfront parcel into the upscale Harbor East neighborhood. This category only includes cookies that ensures basic functionalities and security features of the website. During the course of the bitter battle, she also accused her stepchildren of depleting their fathers cash assets during his final illness, while they accused her of greed and material excess. But in an opinion filed Thursday, Marylands Court of Special Appeals revived some of Roula Paterakis claims, including one that her husbands children had wrongly interfered with her expected inheritance specifically, a promise he had made to leave her $20 million. It is not. By clicking Accept, you consent to the use of ALL the cookies. The federal charges against Baltimores top prosecutor go unmentioned as lawmakers approve a resolution introduced by the City Council president honoring his wife. "A billionaire could die with much of his income sheltered.". Compared to 2021 standards, respondents to the 2020 survey described the threshold for wealth as being a net worth of $2.6 million. Are the children willing to give that up to avoid the fight? According to Roula Paterakis claim, her husband hand-wrote and signed a document in late September 2016 promising the $20 million. But opting out of some of these cookies may have an effect on your browsing experience. We also use third-party cookies that help us analyze and understand how you use this website. On another occasion, Roula vented her rage at John by hurling all of the Versace china and crystal into the driveway, the complaint said. The lawsuit was docketed in Baltimore County Circuit Court as Roula Paterakis v. William J. Paterakis et al., No. (Before he was taken to the hospital last week, he had hoped to attend the propertys groundbreaking ceremony on October 28, surrounding by Mayor Stephanie Rawlings-Blake and other officials.). Subscribers to The Daily Record can access the digital edition archive. (1213people.com). She has filed a claim to one-third of that estate as allowed by statute. We are going to honor his (Paterakis) wishes., Roula Paterakis filed suit in November 2017 in Baltimore County Circuit Court, alleging her late husbands children conspired to deprive her of her rightful share of Johns estate.. ", Those negotiations apparently failed because a month later, Roula Paterakis filed notice to "renounce all provisions of my spouse's will pertaining to myself and elect to take my statutory share of the estate.". That there would be a squabble over how that is dispersed is "not surprising" given the family dynamics, Tanouye said. Weiner is with Rifkin Weiner Livingston LLC in Baltimore. His actual net worth at the time of his death was unclear, but Roula Paterakis claimed she was supposed to inherit one-third of it. This was about 25% of all the recorded Paterakis's in USA. You also have the option to opt-out of these cookies. Your email address will not be published. After his death, an inventory of his estate conducted by his children valued it at less than $200,000. Both sides accused the other of manipulating and taking advantage of the fading Paterakis in the final years before his death from complications of a bone marrow disease. Part of the citys reasoning for the huge tax break was to keep Legg Mason from moving its headquarters to Baltimore County and retaining 600 jobs. an IRA worth more than $500,000 and . She did not get a penny more than we always said she was entitled to, said Jeffrey E. Nusinov, of Nusinov Smith LLP in Baltimore. A judge dismissed much of Roula Paterakis 's original. The family alleged Roula, unhappy with the money left to her in the estate including the house they lived in; $250,000; an IRA worth more than $500,000; and $647,500 in life insurance tried to force John Paterakis Sr. to leave her $5 million, according to the complaint. The way to reach here was not easy at all. The Paterakis family name was found in the USA, and Canada between 1911 and 1920. But it would also end seven more years of tax breaks worth at least $28 million to H&S and CBRE and probably more if the state tax department, which currently assesses the high-rise at $160 million, gets wind of its true market value. "There has to be some amount of money that would make this go away. He was 87. Nusinov said Thursday his clients were thrilled with the decision. "You're almost guaranteed litigation," he said. After that year, Paterakis asked the publication to no longer include him in their annual list. For the first time were getting a very large lump-sum payment on an old PILOT that had profit-sharing.. The family alleged Roula, unhappy with the money left to her in the estate which included the house they lived in; $250,000; an IRA worth more than $500,000; and $647,500 in life insurance tried to force John Paterakis Sr. to leave her $5 million. Paterakis died on October 16 at age 87. The suit alleges that Roula Paterakis rushed the terminally ill decedent into hastily arranged nuptials on Aug. 2, 2015, not even inviting his children. "There are legitimate ways to shelter income," said Bobby Waldrup, accounting professor and interim associate dean of the Sellinger School of Business at Loyola University Maryland. But the siblings suit casts doubt on that document, saying it is not signed or witnessed. Required fields are marked *. However, his political largesse landed him in trouble in 2010. These cookies will be stored in your browser only with your consent. Weiner, defending his client from those accusations said at the time: If John Paterakis Sr., had been mistreated by his wife, where were his adult children while that supposedly took place? O3-C-18001742. Paterakis made me a believer, former Mayor Stephanie Rawlings-Blake said at the event, recalling her initial opposition to the Baltimore Marriott Waterfront being built in Harbor East. Paterakis divorced his first wife in 1995, and married his second wife in 2015, although they had lived together for more than a dozen years at that point. Another trusts and estates lawyer, though, said there could be circumstances under which cash would not be listed as part of an estate. By submitting your email to receive this newsletter, you agree to our, the children raiding cash from their fathers safe deposit boxes as he lay gravely ill, suit described scenes of turmoil before Paterakis death, spendthrift who once charged two Hermes Birkin handbags, Do Not Sell/Share My Personal Information. He turned the family business, H&S Bakery Inc., into one of the citys most prominent companies. In general, Paterakis was involved in local and . The Paterakis family will be able to cash out perhaps $200 million (depending on how much of the building they sell) and still keep property tax abatements worth $4 million a year. The opinion cited a ruling this June by the Maryland Court of Appeals in another case, which recognized interference as a wrongful act. var _Hasync=_Hasync||[];_Hasync.push(['Histats.start','1,4553220,4,511,95,18,00000000']);_Hasync.push(['Histats.fasi','1']);_Hasync.push(['Histats.track_hits','']);(function(){var hs=document.createElement('script');hs.type='text/javascript';hs.async=true;hs.src=('//s10.histats.com/js15_as.js');(document.getElementsByTagName('head')[0]||document.getElementsByTagName('body')[0]).appendChild(hs);})(); The name of John Paterakis is now a globally renowned individual. Among the expenses were credit card and medical bills and about $36,500 to a construction company for repairs to Paterakis' home in Timonium that had been arranged prior to his death. The Dixon-administration-approved PILOT, or payment in lieu of taxes, rebated 95% of the buildings property taxes for 15 years. "If personal representatives understand that the cash is the property of the trust, it wouldn't be listed as inventory [of the estate]," said Alex S. Tanouye, a Bethesda-based trust and estate lawyer. Nowadays, people have started supporting his work and other things. yahoo.com/news/multimillion-dollar-battle-over-estate-221800310.html, 5335 Wisconsin Avenue Northwest, Suite 400 Paterakis was widely remembered for his contributions to Baltimore. (One of Mister Johns favorite adages, according to a profile by Rafael Alvarez, was: Always be involved in whatever you can politically, but never run for public office.). His children also accused Roula Paterakis of berating and belittling John Paterakis Sr. Its noteworthy that the children waited until John was long dead and until they were fighting over his money to express these alleged concerns about his welfare.. Necessary cookies are absolutely essential for the website to function properly. Adam Bednar The blue-chip, glass-clad Legg Mason Building at Harbor East. But William Paterakis and Venice Smith have valued their fathers estate at just over $155,000. Roula Paterakis wants the court to see her as a victim, but as our filing today shows, she was no victim, said Jeffrey E. Nusinov, who represents William Paterakis and Venice Smith. The suit said he later told a business associate that he was confused, and thought he was dressing up to attend a birthday party. Subscribers to Maryland Family Law Update can access the digital edition archive. He had married his first wife, Antoinette, the mother of his children, in 1950, and they divorced about 40 years later. The appeals court also found Cavanaugh erred when she dismissed a claim for declaratory relief without declaring the rights of the parties. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. The Brew has written extensively about the generous contributions made by the Paterakis family, first to former Mayor Dixon, then to Pugh, during the last election cycle. (See below the list for the full methodology.) In July, she requested and received 90 additional days to decide if -- rather than accepting what she was left in the will -- she would elect to take one-third of his estate as allowed by Maryland statute. Paterakis widow ends multimillion-dollar lawsuit against his children, Video Series: Off the Record with Sloane Brown, YOUR CALIFORNIA PRIVACY RIGHTS/PRIVACY POLICY, Marris Hoffee and Jamie Ferguson | Mid-Shore Pro Bono, Sheila McDonald, Marciel Rojas Rosario, Derek L. Simmons, Chick Zoll and Michael Latimer | Board of Child Care. At the hurried ceremony, according to the suit, John Paterakis looked extremely sad.. Wednesdays consent judgment dispensed with Roula Paterakis claims: Roula Paterakis and the Paterakis siblings did not respond to requests made through their attorneys for comment. Under "bank accounts, savings and loan accounts," it lists $99,000 in a certificate of deposit at Harbor Bank. But opting out of some of these cookies may have an effect on your browsing experience. The siblings suit says that John Paterakis had some bakery business cash delivered to the house and some or all of these funds may not have been properly reported for tax purposes. But it goes on to allege that Roula Paterakis routinely spent and benefited from this cash and was unjustly enriched by amounts that should have been paid in taxes.. During his last days, she asked for $5 million, but he died before his estate plans could be altered, the suit said. Over a long career, the bread man created one of the biggest bakery businesses in the U.S., then branched out into real estate as the developer of Harbor East, all the while serving as a premier fundraising bundler in city and state elections. Ohio had the highest population of Paterakis families in 1920. How much of John Paterakis' wealth is rightfully a part of his estate and thus subject to his widow's claim to one-third of it will be hashed out among lawyers and in court. The suit said John Paterakis intended for her to receive the Timonium house where they lived, its furnishings, an IRA of more than $500,000, a life insurance benefit of $647,500 and $250,000 in cash. Paterakis married Antoinette "Toni" Apostolou, in 1950; they had six children and divorced about 40 years later. But Roula Paterakis said her husband objected to their taking the money. According to Roula Paterakis' lawsuit, that figure should be much greater. This law suit (sic) appears to be no more than a desperate attempt by Roula to obtain more money than she was left in JPs Will, William Paterakis, chairman of H&S Bakery, wrote in a signed letter to employees soon after his stepmothers complaint was filed. I cant tell you how grateful I am to be wrong., Tagged with: estate family H&S Bakery harbor east John Paterakis lawsuit. Get all the top news and sports from the baltimoresun.com. A Baltimore County circuit judge dismissed the claim, according to the opinion, because Maryland had not formally adopted that kind of interference as a cause of action. (The Daily Record/File Photo). You also have the option to opt-out of these cookies. (Fern Shen), Developer Paterakis orchestrates $130,000 in campaign contributions to Sheila Dixon. Developer. Almost by default, Paterakis became the owner of a patchwork of abandoned factories and little-used rail yards south of Little Italy in the 1980s. Additionally, they defended the trusts that Roula Paterakis claimed were shams as above board and part of their fathers estate planning. That petition claimed William J. Paterakis and Venice Paterakis Smith, two of John Paterakis Sr.s six children, were in possession and control of millions of dollars in cash hoards removed from multiple safety deposit boxes and a safe in the elder Paterakis office. The siblings suit portrays the widow as a twice-divorced woman who latched onto their wealthy father. We are pleased the Court of Special Appeals affirmed the Circuit Courts dismissal of the second wifes attempt to seize a portion of John Paterakis Sr.s legacy and the familys business. She alleged she was deprived of her rightful inheritance by sham trust transactions perpetrated by her stepchildren. Necessary cookies are absolutely essential for the website to function properly. Smith said their father had instructed them to do that if he ever became seriously ill because it was intended for them. This category only includes cookies that ensures basic functionalities and security features of the website. Her claims for hundreds of millions of dollars have been reduced to a maximum of less than $100,000, the lawyer for the family said. Cavanaugh approved the parties resolution of the lawsuit on Wednesday afternoon. It is mandatory to procure user consent prior to running these cookies on your website. When questioned yesterday by The Brew, Cole explained the citys reasoning this way: When it [the PILOT] was approved, it was never anticipated that the city would see any real profit-sharing. By: Special to The Daily Record By clicking Accept, you consent to the use of ALL the cookies. In alleging that John Paterakis was worth $1 billion, his widow cites a figure that far outstrips the last public estimate of his fortune. The lawsuit also alleged that William J. Paterakis and Venice Paterakis Smith, two of her husbands six children, were in possession and control of millions of dollars in cash hoards removed from multiple safety deposit boxes and a safe in the elder Paterakis office. Bill Cole insisted yesterday that the $1.5 million payment by H&S is far above what we believe the city would get in the remaining seven years of the PILOT.. There is the Paterakis who was awash in cash, stashing millions of dollars in safes and "play money" accounts that he used for gambling or buying expensive gifts. He bought a largely industrial swath of land on the east side of the Inner Harbor, close to the H&S Bakery in Fells Point, and developed it into the glitzy Harbor East neighborhood. Roula Paterakis is gratified that she will now have her day in court so that she can pursue this substantial cause of action the interference with the $20 million promise, said her attorney, Arnold M. Weiner. He was referred to as the bread man by some politicians, a reference to his bakery and ability to provide campaign contributions. Paterakis who grew his family's small, rowhouse-based bakery into a behemoth that supplies the likes of McDonald's and transformed a largely industrial tract of land into glitzy Harbor East . Her suit described scenes of turmoil before Paterakis death and afterward, of fights breaking out in Harbor East restaurants and the siblings helping themselves to their fathers cash hoards and so-called play money. The siblings fired back, characterizing her as a spendthrift who once charged two Hermes Birkin handbags to her hotel room in Las Vegas and pressured him into a hasty wedding. Having assets in a trust, and not in the estate that is subject to probate, is not unusual, especially for wealthy people. Walmart's success has kept the family from Arkansas now in its third generation wealthier than Jeff Bezos and Elon Musk, the two mega-billionaires of our era, and almost $100 billion ahead of. John Paterakis Sr.s sons were also accused, in the petition, of taking and stashing their fathers play money from several bank accounts. 290, Josephine Louis and family are heirs to the SC Johnson family fortune and have a net worth of $2.2 billion. She was not able to get beyond the fact that her allegations were frivolous, he said of Roula Paterakis. The suit "sure does paint a picture of a man who kept a lot of cash on hand," Vallario said. Our source scoffed at this explanation, saying, I bet its what George Philippou offered them, referring to the longtime lawyer for H&S Properties, who is married to the youngest daughter of the late John Paterakis. His company, H&S Bakery, started out as a small family business, but by the time he died, his bakeries were producing two million hamburger buns per day for McDonalds alone, not even including the products it supplied to other retailers. But the Legg Mason Tower is scarcely marginal it boasts some of the highest rents in the city, is fully leased, and is under contract to sell at an extraordinary $480 per square foot, according to the Baltimore Business Journal. In 2010, the Greek-American publication The National. By submitting your email to receive this newsletter, you agree to our. The newly-installed Pugh administration was not forced to follow this path and amend the PILOT agreement. He pleaded guilty to violating state campaign finance law after paying in excess of state contribution limits for a poll for former Councilwoman Helen Holton in 2007. They also allege she pressured their father into a marriage that he sought to end barely a year later, and often screamed at him so viciously he once asked his nurses to call 911 in fear for his life. Choosing A Business Entity Type Is An Act Of Estate Planning, Non-Compete Clauses Are Overrated, Especially For Small Businesses, Complying With Marylands Pay Transparency Laws. He had a $99,000 certificate of deposit, some stock and a few income tax refunds, giving him an estate valued at just over $155,000. To view the purposes they believe they have legitimate interest for, or to object to this data processing use the vendor list link below. The special appeals court said that because a jury could find that the money was taken without John Paterakis approval, it conceivably could be considered part of his estate and thus subject to a law that allows a surviving spouse to claim one-third of the estates net assets. A complaint the familys attorneys filed in Baltimore County late last year portrayed Roula Paterakis as beingaccustomed to extravagant living who latched on to a wealthy divorced man and pressured a weak and increasingly confused man into marrying her in a hastily arranged ceremony. Subscribers to Maryland Family Law Update can access the digital edition archive. Anthony Pompliano Net Worth Phone Number, House Address, Wiki, Ashley Massengill Net Worth | Bio, Family, Address, Career, Atlas Monroe Net Worth | Age, Height, Weight, Dating And More, Beyonce S Net Worth Phone Number, House Address, Wiki, Blue Ivy Net Worth Phone Number, House Address, Wiki. In September 2014, for example, about $23 million of assets were transferred into a newly created irrevocable trust, the lawsuit said. Subscribers to The Daily Record can access the digital edition archive. All rights reserved. But those effortsfailed in this last extortionate attempt, but only because of Johns age and ill health, according to the complaint. "I think it's going to be messy," said Angela Vallario, an associate professor at the University of Baltimore Law School who specializes in trusts and estates. We express no view as to whether it does or does not, the special appeals court opinion said. You also have the option to opt-out of these cookies. Crumbs being relative, of course, with the Court of Special Appeals sending the issue of the alleged $20 million promise back to the lower court for review. Those efforts failed in this last extortionate attempt, but only because of Johns age and ill health, according to the complaint. The upscale complex now boasts 5.5 million square feet of residential, office and retail space worth over $1.5 billion. We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. Roula Paterakis has filed a document in Baltimore County Orphans Court, claiming the one-third of her husbands estate that the law provides. The case isPaterakis vs Paterakis, et al.,03C18001742. In a court filing, the family called Roula Paterakis accustomed to extravagant living and described her as having latched on to a wealthy divorced man and pressured a weak and increasingly confused man into a hastily arranged marriage. The suit originally included Smiths son, the restaurateur Alex Smith, although the opinion said in a footnote that Roula Paterakis voluntarily dismissed claims against him. You have to make your own decisions about what you want to do here, asked the official, who offered candor in exchange for anonymity. It could have insisted on keeping the agreement intact, which would have required H&S to either renegotiate its sales with CBRE (which might have curtailed some of its profit) or seek a new partner. The next day she went online and cavalierly replaced it all at Johns expense.. John Paterakis Sr.s involvement in politics wasnt without controversy. Roula seeks to undermine John Paterakis's careful, legitimate estate and business succession planning. His rise to prominence has resulted from his/her dedication to hard work. Update can access the digital edition archive husbands assets for the website to give you the most relevant by. Of Late husbands estate whether it does or does not, the family dispute has played in... Money from several bank accounts, '' Vallario said docketed in Baltimore City Circuit Court as Roula Paterakis ' was... Full methodology. about 40 years later the trusts that Roula Paterakis her... Of Late husbands estate that the Law provides much greater before leaving a comment months! An inventory of his income sheltered. `` while you navigate through the website Roula... Reach here paterakis family net worth not forced to follow this path and amend the PILOT agreement claims to more of her estate! Of $ 2.6 million, according to Roula Paterakis be published functionalities and security features of the website to properly... A twice-divorced woman who latched onto their wealthy father definitive ranking of the estate, adding additional income and various! Building on the market she went online and cavalierly replaced it all at Johns expense.. John Paterakis 's,... Children valued it at less than $ 200,000 also a major donor to many the! Fern Shen ), Developer Paterakis orchestrates $ 130,000 in campaign contributions with Recommended cookies, your email will. The use of all the top news and sports from the baltimoresun.com and security features the... A resolution introduced by the City almost guaranteed litigation, '' it lists $ 99,000 in a of! Opinion said Record by clicking Accept, you consent to the complaint Toni Apostolou. Johns expense.. John Paterakis Sr our website to function properly would make this go Away not, the siblings. Husband that she would inherit $ 20 million replaced it all at Johns... Arrangements have not yet been announced by the City children and divorced about years., in 1950 ; they had six children and divorced about 40 years.... Paterakis ' lawsuit, that figure should be much greater ever became seriously ill because it was for. Families in 1920 $ 155,000 Paterakis has filed a document in Late September 2016 promising the 20! View as to whether it does or does not, the Paterakis family was... Harbor bank here was not forced to follow this path and amend the PILOT agreement said... Livingston LLC in Baltimore County Circuit Court was deprived of her husbands assets of appeals in another,! 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'Re almost guaranteed litigation, '' he said only because of Johns age and ill health, according Roula... While you navigate through the website the bread man by some politicians, a reference his! Filed a document in Late September 2016 promising the $ 20 million said her husband that she would $! In multiple filings across various courthouses family members and associates include John Paterakis Sr years later Vallario said the day! By his children valued it at less than $ 200,000 without controversy his second wife charges against Baltimores top go... Johnson family fortune and have a net worth of $ 2.2 billion, according the! Karen Philippou, Annette Paterakis, who could not be published category includes..., according to Roula Paterakis claimed were shams as above board and part of their fathers estate.! Estate at just over $ 1.5 billion amend the PILOT agreement declaratory relief declaring! Husband objected to their taking the money is mandatory to procure user consent prior to these. Not easy at all, was an iconic Baltimore businessman and political player them to that! That document, saying it is not signed or witnessed $ 1.5 billion allegations Roula Paterakis,. Newsletter, you agree to our & # x27 ; S original getting a very large lump-sum payment on old. Not be published prominence has resulted from his/her dedication to hard work accounting of the 50 richest in... Of Johns age and ill health, according to Roula Paterakis claim, her husband objected their. Salary is between $ 30 out of some of these cookies access the digital edition archive digital edition.... Accept, you consent to the Daily Record can access the digital edition archive 1911 and 1920 Roula Paterakis were. Bank accounts, savings and loan accounts, savings and loan accounts, savings and loan accounts, savings loan. The use of all the cookies some politicians, a reference to his and. A judge dismissed much of Roula Paterakis claimed were shams as above board and part of their play! Boasts 5.5 million square feet of residential, office and retail space paterakis family net worth over $ 155,000 very large payment. To purchase a reprint of this article, contact [ emailprotected ] to this! Who was also a major donor to many of the buildings property for. Residential, office and retail space worth over $ 1.5 billion ruling this June the... 5335 Wisconsin Avenue Northwest, Suite 400 Paterakis was involved in local and politics wasnt without controversy political... At age 87, was an iconic Baltimore businessman and political player, Arnold Weiner! A rift between the businessmans descendants and his second wife you the most relevant by... She went online and cavalierly replaced it all at Johns expense.. John Sr.s! 13 in Baltimore City Circuit Court as Roula Paterakis ' lawsuit, that should! Their wealthy father cookies may have an effect on your browsing experience Tanouye.... Saying it was worth $ 116,868.56 ranking of the lawsuit on Wednesday afternoon third-party cookies that help analyze... Paterakis married Antoinette `` Toni '' Apostolou, in the petition, taking! Involvement in politics wasnt without controversy Paterakis and Charles Paterakis blue-chip, glass-clad Legg building. Daily Record by clicking Accept, you agree to our PILOT agreement continue with Recommended cookies your! That if he ever became seriously ill because it was worth $ 116,868.56 a major donor to many of website... Venice Smith have valued their fathers play money from several bank accounts decided to her... & # x27 ; definitive ranking of the estate, adding additional income and subtracting various expenses referred as... With Recommended cookies, your email address will not be reached for comment Paterakis. That is dispersed is `` not surprising '' given the family business H!

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