Telis Mistakidis

Aristotelis Mistakidis
Αριστοτέλης Μυστακίδης
Born21 November 1961[1]
Rome, Italy[2]
CitizenshipGreek
British
EducationLondon School of Economics (BSc Economics)
OccupationsBusinessman, investor, commodities trader
Known forFormer Glencore executive and major shareholder
Controlling shareholder of Aegean Baltic Bank
Owner of PAOK BC
SpouseMarried
Children1

Aristotelis "Telis" Mistakidis (Greek: Αριστοτέλης "Τέλης" Μυστακίδης; born 21 November 1961) is a Greek-British businessman, investor and former commodities trader. He spent approximately 25 years at Glencore and its predecessor Marc Rich & Co., becoming one of the company's senior metals executives and one of its largest individual shareholders. He became a billionaire following Glencore's initial public offering in 2011.[3][2]

After leaving Glencore at the end of 2018, Mistakidis expanded his investments in banking, shipping and real estate. He subsequently acquired control of Aegean Baltic Bank and, in November 2025, became the majority owner of Greek basketball club PAOK BC.[4][5]

In its 2026 annual billionaires list, Forbes estimated his wealth at approximately US$4.2 billion, while its real-time ranking valued his fortune at approximately US$4.7 billion in August 2026.[3]

Early life and education

Mistakidis was born in Rome, where his father, a marine biologist, worked for the United Nations.[2] His family was Greek, and he maintained close links with Greece despite growing up abroad. In a 2011 interview with Kathimerini, Mistakidis said that Greek was spoken at home throughout his childhood and that he continued to speak Greek with his family.[2]

He was educated in the United Kingdom and graduated from the London School of Economics with a degree in economics.[3]

Business career

Cargill and Glencore

Mistakidis began his career at Cargill, where he spent six years trading non-ferrous metals.[3][2] In March 1993, he joined Marc Rich & Co., shortly before the company was acquired by its management and renamed Glencore. He initially worked in the zinc and lead business, developing expertise in metals marketing as well as price and risk management.[6]

In February 2000, he became co-director of Glencore's zinc, copper and lead commodity department, jointly overseeing both its trading activities and industrial assets.[7] Following the combination of the zinc and copper businesses, Mistakidis became one of the most senior executives in Glencore's global metals operation.

From 2008 to 2013 he served as co-head of Glencore's global copper and zinc department, and from 2013 until November 2017 he headed the company's global copper department.[8]

The flotation of Glencore on the London and Hong Kong stock exchanges in May 2011 turned several senior partners, including Mistakidis, into billionaires. At the time of the IPO he controlled about 6% of the company.[2] In March 2012, Glencore reported that he owned 411.7 million shares, equivalent to approximately 5.9% of its issued share capital. His holding subsequently declined as the company's share capital expanded; by the end of 2017 he held approximately 3.12% of Glencore's voting shares and was the third-largest shareholder among the company's management personnel.[8]

As of 31 May 2018, Mistakidis owned approximately 449.2 million Glencore shares, representing 3.11% of voting rights.[9] In March 2022, Glencore announced that his voting interest had fallen below the 3% disclosure threshold.[10]

During his Glencore career, Mistakidis also held senior positions at companies associated with the group's mining operations, including Katanga Mining, Mopani Copper Mines and Recylex.[2][8]

Glencore announced in December 2018 that Mistakidis would retire as its head of copper marketing at the end of that year, with Nico Paraskevas succeeding him.[11]

Katanga Mining regulatory settlement

Mistakidis served as a Glencore-nominated director of Katanga Mining from January 2008 until November 2017.[8]

In December 2018, the Ontario Securities Commission approved a settlement concerning misleading financial disclosure and failures in internal controls at Katanga Mining. Under the settlement, Mistakidis agreed to pay an administrative penalty of C$2.45 million and C$50,000 in costs and was prohibited for four years from acting as an officer or director of an Ontario reporting issuer.[12]

Investments

Banking

Mistakidis began building a substantial position in Piraeus Bank in 2020. In June of that year, his voting rights exceeded 5%, making him one of the bank's major private shareholders.[13]

By January 2021, his direct stake had fallen below the 5% reporting threshold to approximately 3.03%.[14] Later that year, he committed €40 million to Piraeus Financial Holdings' €1.38 billion capital increase. Following the transaction, his shareholding was approximately 2.9%.[15]

Mistakidis also invested in Phoenix Vega Mezz, a company created in connection with securitised non-performing exposures originating from Piraeus Bank. In August 2021 his holding exceeded 5%.[16]

In 2024, Mistakidis moved further into Greek banking by acquiring control of Aegean Baltic Bank (ABBank), a bank specialising in shipping finance. Agreements signed in April 2024 provided for him to acquire approximately 48% of its share capital and majority control of the institution.[4]

The transaction subsequently received the required fit and proper approvals from the Bank of Greece and the European Central Bank in November 2024, allowing a company controlled by Mistakidis to obtain statutory majority control of ABBank.[17]

Shipping

Mistakidis entered the shipping industry in 2021 as an investor in the London-based shipowner Union Maritime.[18]

His interests subsequently expanded into both dry-bulk shipping and tankers. In 2026, shipping industry publications reported that Mistakidis had become managing partner of Virono Maritime, a shipping venture associated with Mistakidis and the Tomazos family.[19]

Virono received its first newbuilding, the 115,000-dwt Aframax/LR2 tanker Vokaria, in February 2026. By August 2026 the company was also reported to have an approximately 113,500-dwt Aframax/LR2 tanker scheduled for delivery in 2027 and a 157,000-dwt Suezmax tanker under construction for delivery in 2028.[19]

Real estate

Mistakidis has also invested extensively in real estate in Greece and abroad.

In 2015, he purchased a duplex apartment in Chesham Place, Belgravia, London, for more than £46 million. The property, developed by Christian and Nick Candy, was at the time among the most expensive apartments ever sold in the United Kingdom.[20]

From 2021 onward, he expanded his Greek property portfolio, with investments concentrated particularly in Athens, Thessaloniki and northern Greece.[21]

His interests include the former five-star Hotel Nikopolis in Thessaloniki, owned through NIMTENKO S.A. In June 2024, HotelBrain agreed a ten-year lease of the property.[22] Following extensive renovation, the hotel reopened in March 2025 as the five-star September Hotel Thessaloniki, a 99-room urban resort operated by HotelBrain.[23] The property includes 99 rooms and suites, conference facilities, spa and fitness facilities, indoor and outdoor swimming pools and tennis courts.[24]

Sports investments

PAOK BC

In 2025, Mistakidis entered professional sports through PAOK BC, the basketball section of PAOK in Thessaloniki.

After financial, tax and legal due diligence, his investment company Alpha Sports Group Single Member S.A. reached an agreement to acquire the club's majority shareholding.[25]

On 27 November 2025, the acquisition was completed, with Alpha Sports Group purchasing a 60.81% stake in PAOK BC and giving Mistakidis control of the club.[5]

In December 2025, PAOK BC announced that Alpha Sports would fully finance a €12 million share-capital increase, which was approved by the club's shareholders in March 2026.[26]

Under Mistakidis' ownership, the club also invested in its long-term infrastructure and player-development programme. In May 2026, PAOK announced the construction of a new privately operated basketball training centre in Pylaia, Thessaloniki, featuring two indoor courts and supporting training, medical and rehabilitation facilities.[27]

In August 2026, PAOK also entered into a long-term strategic cooperation with DEKA Academy, founded by former Greek international Nikos Chatzivrettas. DEKA's competitive youth teams and men's team were integrated into PAOK's development structure, with the latter becoming the club's developmental team.[28]

New Toumba Stadium

In June 2025, A.C. PAOK announced that Mistakidis had undertaken to provide the necessary private financing for the construction of a new stadium to replace Toumba Stadium. Mistakidis stated that his intention was to finance a modern UEFA-standard stadium on the existing Toumba site.[29][30]

The proposal was ultimately not pursued by A.C. PAOK, which later decided to proceed with a separate stadium plan financed by PAOK FC owner Ivan Savvidis.[31]

Wealth

Mistakidis first became a billionaire following Glencore's 2011 initial public offering.[3][2]

The Sunday Times Rich List estimated his fortune at £2.153 billion in 2022.[32]

Forbes estimated his net worth at US$4.2 billion on its annual 2026 World's Billionaires list. His Forbes real-time profile subsequently valued his fortune at approximately US$4.7 billion in August 2026.[3]

Personal life

Mistakidis holds both Greek and British citizenship and lives in Zug, Switzerland.[3] He is married and has one child.[3]

Despite spending much of his life outside Greece, Mistakidis has described himself as Greek and has maintained close personal ties with the country and particularly with Thessaloniki and northern Greece.[2]

References

  1. ↑ "VIRONO PRIDE LIMITED – Persons with significant control". Companies House. Retrieved 27 August 2026.
  2. 1 2 3 4 5 6 7 8 9 Mandravelis, Vangelis (10 June 2011). "The third Greek on Forbes list". Kathimerini. Retrieved 27 August 2026.
  3. 1 2 3 4 5 6 7 8 "Aristotelis Mistakidis". Forbes. Retrieved 27 August 2026.
  4. 1 2 Bellos, Ilias; Tzortzi, Evgenia (6 April 2024). "Τα σχέδια του Αρ. Μυστακίδη για την Aegean Baltic Bank". Kathimerini (in Greek). Retrieved 27 August 2026.
  5. 1 2 "Change of ownership at PAOK BC, entrepreneur Mistakidis acquires majority stake". Kathimerini. 27 November 2025. Retrieved 27 August 2026.
  6. ↑ "Glencore Prospectus Confirms IPO Will Create Six New Billionaires". Forbes. 4 May 2011. Retrieved 27 August 2026.
  7. ↑ "Glencore Prospectus Confirms IPO Will Create Six New Billionaires". Forbes. 4 May 2011. Retrieved 27 August 2026.
  8. 1 2 3 4 "Statement of Allegations: In the Matter of Katanga Mining Limited". Capital Markets Tribunal. 14 December 2018. Retrieved 27 August 2026.
  9. ↑ "Glencore Base Prospectus – Significant shareholders" (PDF). Glencore. 2018. Retrieved 27 August 2026.
  10. ↑ "Holding(s) in Company". Glencore plc. 8 March 2022. Retrieved 27 August 2026.
  11. ↑ "Glencore investor update call and management changes". Glencore. 3 December 2018. Retrieved 27 August 2026.
  12. ↑ "OSC Panel approves settlement with Katanga Mining Limited, former and current directors and officers for misleading disclosure and internal control failures". Ontario Securities Commission. 18 December 2018. Retrieved 27 August 2026.
  13. ↑ "The "king of copper" has come to stay at Piraeus Bank". Business Daily. 16 June 2020. Retrieved 27 August 2026.
  14. ↑ "Piraeus Financial Holdings – Notification of important changes concerning voting rights" (PDF). Piraeus Financial Holdings. 19 January 2021. Retrieved 27 August 2026.
  15. ↑ Tzortzi, Evgenia (21 April 2021). "Piraeus Bank secures strong support". Kathimerini. Retrieved 27 August 2026.
  16. ↑ "Phoenix Vega Mezz – Over 5% percentage of Aristotelis Mistakidis". OT.gr. 30 August 2021. Retrieved 27 August 2026.
  17. ↑ "Τέλης Μυστακίδης: Παίρνει τον έλεγχο της AB Bank – Πράσινο φως από ΕΚΤ και ΤτΕ". OT.gr (in Greek). 17 November 2024. Retrieved 27 August 2026.
  18. ↑ Dixon, Gary (9 October 2024). "Union Maritime and Greek bank owner Aristotelis Mistakidis join forces with new shipowning venture". TradeWinds. Retrieved 27 August 2026.
  19. 1 2 Georgiou, Georgios (10 August 2026). "Mistakidis-led tanker venture emerges with newbuildings at Hengli". Riviera Maritime Media. Retrieved 27 August 2026.
  20. ↑ Hearn, Adrian; Lynch, Russell (7 January 2015). "EXCLUSIVE: Tycoon pays £46m for London flat (plus £3m more in stamp duty)". Evening Standard. Retrieved 27 August 2026.
  21. ↑ Kosmetatos, Michael (15 March 2021). "Αριστοτέλης Μυστακίδης: Το ελληνικό portfolio του κροίσου στα ακίνητα και τα επόμενα deals". NewMoney (in Greek). Retrieved 27 August 2026.
  22. ↑ "HotelBrain Takes Over Former Hotel Nikopolis in Thessaloniki". Greek Travel Pages. 7 June 2024. Retrieved 27 August 2026.
  23. ↑ "GBR Hospitality Newsletter – Q1 2025". GBR Consulting. Retrieved 27 August 2026.
  24. ↑ "September Hotel Thessaloniki: Επαναλειτουργεί το πρώην Nikopolis από τη HotelBrain". NewsTourism (in Greek). Retrieved 27 August 2026.
  25. ↑ "Ανακοίνωση-ενημέρωση ΚΑΕ ΠΑΟΚ". PAOK BC (in Greek). 22 October 2025. Retrieved 27 August 2026.
  26. ↑ "PAOK BC Shareholders' General Assembly: €12,000,000 Share Capital Increase". PAOK BC. 10 March 2026. Retrieved 27 August 2026.
  27. ↑ "PAOK BC: New Modern Basketball Training Facility". PAOK BC. 8 May 2026. Retrieved 27 August 2026.
  28. ↑ "KAE ΠΑΟΚ - ΔΕΚΑ: Στρατηγική συνεργασία με επίκεντρο την ανάπτυξη". PAOK BC (in Greek). 3 August 2026. Retrieved 27 August 2026.
  29. ↑ "Ανακοίνωση Α.Σ. ΠΑΟΚ". A.C. PAOK (in Greek). 16 June 2025. Retrieved 27 August 2026.
  30. ↑ "Μυστακίδης: «Η νέα Τούμπα θα είναι ένα από τα πιο σύγχρονα γήπεδα της Ευρώπης»". ERT News (in Greek). 17 June 2025. Retrieved 27 August 2026.
  31. ↑ "Ανακοίνωση Α.Σ. ΠΑΟΚ". A.C. PAOK (in Greek). 28 July 2025. Retrieved 27 August 2026.
  32. ↑ "The Sunday Times Rich List 2022". The Times. Retrieved 27 August 2026.
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