The entrepreneur managed to build a fortune of millions of dollars thanks to his tireless efforts and his innovations in the market.
John Catsimatidis He is one of the most important businessmen in the United States for his Gristedes Food supermarket chainshis real estate company and his aviation company which is valued at 2 billion dollarsThe tireless 74-year-old entrepreneur spoke out against Generation Z and its excessive use of social media.
At the launch of his book “How Far Do You Want to Go?: Lessons from a Common-Sense Billionaire,” the American criticized young people by declaring: “When I was younger I worked 70 hours a week in a supermarket, now Generation Z is very busy on TikTok”.
The billionaire continued his analysis of social media consumption in an interview with the Daily Mail by arguing that this is one of the problems that the United States has right now because Kids are very busy on Tik Tok. Regarding this current situation, he recalled his childhood, when his mother forced him to work during the summer holidays so as not to waste time throughout the season.
During the interview, Catsimatidis said: “The harder you work, the easier it is to win”He also said that work ethic is a thing of the past and said: “Look at people who only work three days a week, I’ll show you their failures.” On the other hand, he argued that in order to develop their own careers, it is necessary to train, not get into trouble and hire people who are smarter than themselves.
The story of John Catsimatidis and his differences with Generation Z
The businessman arrived in the United States when he was six months old, along with his parents of Greek origins. They formed a lower middle class family, but Catsimatidis’ intelligence allowed him to enter New York University to study electrical engineering. His time at university was also marked by his employment in a small supermarket. from the family of one of his friends.
The American by adoption, completed four years of his degree but abandoned his studies and He bought half of the store where he worked. He later managed toOpened a Red Apple grocery store in 1971His business gained great fame for innovating by opening seven days a week, offering free trials of some of its products and giving coupons to its customers.
Catsimatidis alludes that By the age of 24, he had opened 10 stores and his business generated around $25 million a year.By 1981, Red Apple had 27 stores spread across the Bronx and Manhattan. This expansion allowed it to reach $110 million in sales by 1985.
A year later, the American made its way into the gasoline market by acquiring United Refining Co, which has refineries in Pennsylvania and Alabama. Its involvement in fossil fuels increased in 2009 when it acquired bankrupt conglomerate SemGroup Lp, which had oil, gas and asphalt storage and transportation companies.
How much is John Catsimatidis’ fortune, according to Forbes
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Observer
The magazine specializing in finance and the economies of billionaires around the world, calculated the wealth of the American magnate in about 4.5 billion dollars.
Source: Ambito
