Business
Argyros made his fortune in real estate investments. He originally started his business career running a grocery store and moved on to buying and selling real estate to gas stations. He also was involved in buying and selling property in Southern California. From 1981 to 1989 he was the owner of the Seattle Mariners baseball team. He has been on the board of directors of many corporations.
Argyros recently has done business through the real estate company Arnel & Affiliates (DBA "Arnel Property Management Company"), which manages apartments and invests in commercial property. Arnel & Affiliates does business primarily in Southern California. Through his business practices Argyros has achieved a net worth around $1 billion.
In 2001 Arnel and Argyros were named in a civil complaint alleging Arnel Management "systematically withheld tenants' security deposits". Soon after its filing, Orange County District Attorney Tony Rackauckas terminated the district attorney's investigation and removed Argyros' name from the case, saying "I felt we had a strong case against the company and it would weaken the case ." This decision was attacked after it was discovered that Argyros had contributed $30,000 to Rackauckas's campaign. Argyros was confirmed as ambassador to Spain shortly after this case settled.
Read more about this topic: George Argyros
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