Alexander Gus Spanos (born September 28, 1923) is an American real estate developer and self-made billionaire who founded the A. G. Spanos Companies and owns the San Diego Chargers.
Alex Spanos and his wife Faye are shining examples of how the American spirit of hard work and determination can pay off for those willing to follow their dreams.
In 1951 at the age of 27, Alex Spanos decided he could no longer support his growing family on $40 per week working in his father’s bakery. So he borrowed $800, purchased a used catering truck and set out on his own by providing catering and support services for the migrant farm workers in California’s Central Valley.
From those humble beginnings, Spanos’ tireless work ethic built one of the leading real estate and development companies in the industry, and today he is the patriarch of one of the most accomplished and philanthropic families in the United States.
A.G. Spanos Companies builds multi-family housing and master planned communities and is one of the nation’s largest family-owned builders. Alex Spanos’ personal commitment to quality and integrity is now carried on by his family in the daily operation and management of the San Diego Chargers as well as the companies that bear his name.
Spanos made family part of his formula for business success. The A.G. Spanos organization, including the Chargers, is a family-run operation. Spanos’ amazing journey and his passion for giving back is outlined in his autobiography, “Sharing the Wealth: My Story,” a compelling first-hand account of the events and decisions in his life that became his basic fundamentals for success.
His success in the construction and development industry allowed him to pursue many dreams, including purchasing the Chargers on Aug. 1, 1984. Alex turned over the day-to-day operations of the Chargers to his oldest son, Dean, in 1994. Today he enjoys retirement and watching sons, Dean and Michael, along with grandsons, A.G. and John, guide the Chargers’ organization to success.
Spanos’ community spirit and generosity are renowned. Few can match the benevolence and philanthropy that Alex and Faye have shown through their support of deserving institutions and community-service efforts. San Diegans have Spanos to thank for the huge economic windfall of two Super Bowls and a Republican National Convention to San Diego. In addition to the millions of dollars donated by Spanos and the Chargers Community Foundation, which he established, the Spanos family has delivered more than $11 million to help San Diego’s youth by supporting education as well as health and fitness programs.
In 2008 the President of the Republic of Greece, Mr. Karolos Papoulias, awarded Spanos the Medal of the Commander of the Order of Honor. The honor came in recognition of his many contributions to the birthplace of his parents.
These acts of caring demonstrate the commitment of a man whose rags-to-riches story has been an inspiring example for others. Though his life has taken him places he never dreamed possible, Spanos continues to reside in his hometown of Stockton, California.
Alex and Faye are celebrating 65 years of marriage in 2013. And they will celebrate with their four children – Dean, Dea, Alexis, Michael and their spouses – 15 grandchildren, and four great grandsons.
Early life and education
Spanos was born in Stockton, California to a Greek family, the son of Greek immigrants, Constantino and Evanthia Spanos. His father owned a bakery where the young Spanos started working at the age of eight. In 1942 he dropped out of college and joined the Army Air Force training as a pilot but left the program and instead serving as a tail gunner during World War II. Spanos earned varsity letters in running and diving at the University of the Pacific in Stockton and later distinguished himself as an amateur golfer.[citation needed]
Career
In 1951 he borrowed $800 from a local banker to buy a truck which he then used to sell sandwiches to migrant farm workers in the San Joaquin Valley. By 1955 he had made his first million dollars. He invested his earnings in real estate and at the suggestion of his tax accountants, and started to build apartments. In 1960 he founded A.G. Spanos Companies, which by 1977 had became the largest apartment builder in the United States. The corporation is based in Stockton and has 10 subsidiaries.
San Diego Chargers
In 1984, Spanos bought 60% of the San Diego Chargers from majority owner Eugene Klein for $48.3 million. Over the next 10 years, he bought out the shares of several small co-owners, bringing his control of the team to 97%. He remains partnered with retired San Diego restaurateur George Pernicano, an investor in the team since a few years after its inception. Since 1993, Spanos' son Dean has handled the daily operations of the franchise. According to Forbes, in 2007 the San Diego Chargers were worth $826 million.
Philanthropy and political contributions
Spanos donated $500,000 to renovate the historic Fox Theatre in downtown Stockton, and with the approval of the City of Stockton, renamed the facility the Fox California Bob Hope Theatre. The Alex G. Spanos Center in Stockton and the Alex G. Spanos Stadium in San Luis Obispo are named after him.
Spanos was one of the largest contributors to George W. Bush's reelection campaign in 2004. By contributing $5 million to 527 groups that supported the Bush campaign in 2004, Spanos ranked among the top five GOP donors. President Bush appointed Spanos to the Kennedy Center board in 2004. Spanos was inducted into the California Building Industry Hall of Fame in 2005. Spanos also received the AHEPA Award, an award that recognizes members of the community for their contributions and achievements in their chosen field of endeavor.
Personal life
In 1948, Spanos married Faye Papafaklis. They are the parents of four adult children: Dean Spanos, who serves as the Chargers' Team President; Micheal Spanos, who serves as the Charger's Executive Vice president; Alexis Spanos Ruhl, a vice president of A.G. Spanos Companies; and Dea Spanos Berberian, a vice president of A.G. Spanos Companies. The Spanos reside in Stockton, California. Spanos also owns property in Las Vegas, Nevada. Spanos had a seven-way heart bypass in 2000, and has had surgery and undergone chemotherapy for colon cancer. After his heart bypass at Sacramento Mercy General Hospital, Spanos donated $10 million to the hospital sponsoring the construction of its new state-of-the-art heart center.
He has written a book called Sharing the Wealth: My Story which details his rise from a moneyless man of 27 years to become a billionaire.[citation needed] Spanos was the first person ever to be on the winning teams in both the Bob Hope Desert Classic in Palm Desert (1977) and the Bob Hope British Pro-Am (1980).
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