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, and his mother was a homemaker. Catsimatidis graduated from Brooklyn Technical High School in 1966. He studied electrical engineering at New York University but left before graduating, dropping out just eight credits short of completing his degree.
Rise to Success
Catsimatidis began his entrepreneurial journey in 1971 by opening his first Red Apple grocery store in Manhattan. He expanded his business rapidly, and by the age of 24, he owned ten stores generating $25 million in annual revenue. In 1986, he acquired the Gristedes supermarket chain, further solidifying his presence in the grocery industry. He also acquired United Refining Company, which expanded his interests into the energy sector. Catsimatidis is the chairman and CEO of Red Apple Group, with significant holdings in real estate, aviation, and media.
Key Business Strategies
Catsimatidis's business strategies included keeping his stores open late, offering free delivery, and cashing checks for customers. These innovations, along with his ability to identify and seize opportunities, were instrumental in his rapid expansion. He focused on building a strong brand and adapting to consumer needs. He also acquired media assets, including the WABC radio station, and expanded his influence through this channel.
Philanthropy
Catsimatidis is a dedicated philanthropist. He established the John Catsimatidis Scholarship Fund at New York University Stern School of Business, which has awarded scholarships since 1988. He has also been involved with the Manhattan Council of the Boy Scouts of America, the Police Athletic League of New York City, and the Drum Major Institute. His charitable interests also include the National Kidney Foundation and the Juvenile Diabetes Foundation.
