Early Life
John A. Catsimatidis was born on September 7, 1948, on the Greek island of Nisyros. At six months old, his parents immigrated to the United States and settled in West Harlem, New York City. His father worked as a busboy. Catsimatidis graduated from Brooklyn Technical High School in 1966 and enrolled in New York University to study electrical engineering, though he dropped out just eight credits short of graduating.
Rise to Success
Catsimatidis opened his first Red Apple grocery store in 1971 in Manhattan's Upper West Side. By the age of 24, he had built up ten stores. In 1986, Catsimatidis acquired the Gristedes supermarket chain. Catsimatidis's business acumen led him to expand into various sectors. He acquired United Refining Company in 1986. He also owns Red Apple Group, a real estate and aviation company. In 2019, Catsimatidis purchased WABC radio station.
Key Business Strategies
Catsimatidis's strategies included keeping stores open late, offering free delivery, and cashing checks for customers. He expanded his business through acquisitions and diversified into real estate, oil refining, and media. He also invested in real estate and expanded his holdings in the energy sector.
Philanthropy
Catsimatidis is actively involved in philanthropy. He established the WABC Radio Foundation to provide humanitarian relief for Ukrainians in need. He has also supported the Police Athletic League for nearly 30 years. He funds the John Catsimatidis Scholarship Fund at the New York University Stern School of Business.