Ari Onassis was a business partner but above all a very good friend of mine for many years until his death in 1975. It was great to know him and fantastic to be involved in his odyssey and contributes to build his empire. There are so many things that are said about Ari and by creating this blog I want to reflect the reality about him to make sure his memory is not stained by gossiping people that don't know anything about him. You can also view my website:

Monday, October 01, 2007

What happened in Christina's Onassis disappearance

Christina and her mum Tina Onassis
The sudden death of Christina Onassis in Argentina in 1988 presaged no changes in the shipping and real-estate empire founded by her father, Aristotle S. Onassis, according to several members of a multinational board that has run the business since he died in 1975.
The private fortune was estimated at $500 million to $1 billion (today's 5 billions), owned half by Christina Onassis and half by the Alexander Onassis Foundation, whose 14-member board has controlled the entire empire with minimial influence by Ms. Onassis as its president.
Several members said yesterday, after a meeting in Athens and calls to other members in Europe, the United States and Latin America, that the board would continue to manage the affairs of the Onassis family and contemplated no major changes in direction or organization.
The death of the 37-year-old heiress, whose four marriages and stormy personal life often obscured her role as a businesswoman, will apparently make her 3-year-old daughter, Athina, one of the world's richest people, family business associates in Athens said yesterday. A Dramatic Story
Like the tumultuous saga of the Onassis family itself, the story of Christina Onassis's death  was a dramatic, controversial and global affair, with implications in Europe and North and South America for governments, businesses and ordinary people touched by the family.
Not least were the implications for the infant, destined some day to control fleets of ships, skyscrapers in the capitals of the world, islands in the Ionian Sea and power beyond the dreams of all but a few people whose enterprise, or good fortune, sets them apart.
In Buenos Aires, authorities yesterday said they were investigating the cause of Ms. Onassis' death, which a judge called questionable, even though an aunt, Mary Onassis, insisted that she had died of a heart attack and ruled out suicide.
''She was at the best stage of her life,'' Mary Onassis said as she entered a Greek Orthodox bishopric, where the body was taken for a vigil after a mass. Other friends said, however, that Ms. Onassis had been undergoing an intensive weight-loss course, part of a constant fight against obesity that sometimes left her in excess of 200 pounds.

Judge Orders an Autopsy

Ms. Onassis was found unconscious at a friend's mansion outside Buenos Aires and was pronounced dead on arrival at a hospital, where officials said she had apparently died of a heart attack. But a local judge ruled the death suspicious and ordered an autopsy after a box of pills was found near her. Forensic experts were to analyze the pills.
In Athens, a half-dozen of the 14 members of the board of the Onassis Foundation gathered yesterday - and conferred by telephone with the other members around the world - to discuss funeral arrangements and the future of the business founded by Aristotle Socrates Onassis, a Greek maverick who immigrated penniless into Argentina in the 1920's and became one of the world's richest men.
A family spokesman in Piraeus said that the body of Ms. Onassis would be returned to Greece and buried beside her father and brother on the Ionian island of Skorpios, which is owned by the family.
''Christina's death was a complete shock to all of us,'' said Stelios Papadimitriou, secretary general of the Onassis Group, the family holding company, as well as a member of the foundation's board and Ms. Onassis' personal lawyer.

''She had no trace of a heart ailment - indeed, no health problems at all,'' Mr. Papadimitriou added. ''Yet there is not a shadow of a doubt that she died of a heart attack. The possibility of a suicide is categorically ruled out.'' Board Members to Meet
Mr. Papadimitriou declined to discuss the family fortune or details of the future of the corporate empire of which she was a part. But he noted that the board members abroad were converging on Athens and would meet soon.
Another board member, Ioannis Georgakis, who was named the acting president of the foundation, said: ''Christina hardly ever interfered in the functioning of the Onassis Foundation, and we were very grateful to her for this. We have decided, in tribute to her, to continue her work and that of her father.''
Apostolos Zambelas, treasurer of the Onassis Group and a board member, said it was difficult to assess the exact value of the family's assets, but he said he would not deny estimates in the neighborhood of $1 billion.
When Aristotle Onassis died at the age of 68 on March 15, 1975, the Onassis Group was worth somewhat less than that. It controlled hundreds of corporations, 47 ships, Olympic Airways and real estate on several continents. But the shipping industry was in its worst depression since the 1930's, and 80 percent of the Onassis fortune was in ships.
In his will, Mr. Onassis left half his assets to Christina and half to the foundation named for his son, Alexander, who had died in the crash of a private plane two years earlier. The foundation - with 13 of his closest associates as members and Christina as president for life - was set up in Liechtenstein, where paid minuscule taxes as a charitable organization. A Generous Foundation
To keep this status, it continues to allocate large grants to many individuals and groups. Recipients have included Amnesty International, former President Alessandro Pertini of Italy, former Prime Minister Harold Macmillan of Britain, Lech Walesa of the Polish labor movement Solidarity, former Chancellor Helmut Schmidt of West Germany and Robert S. MacNamara, president of the World Bank.
As president of the board, Ms. Onassis wielded no extraordinary power beyond those of the other members. She had only one vote unless there was a tie, in which case she had two votes. Soon after her father died, it became apparent that he had ordered too many supertankers from Japanese and French shipyards.

Ms. Onassis, in her most forceful involvement, led a board decision to cancel the new ship orders. ''While we lost tens of millions of dollars, we could have lost hundreds of millions,'' Mr. Zambelas recalled. ''As the oil crisis worsened, nobody could say it was a wrong decision.''
Also shortly after Mr. Onassis died, Olympic Airways was taken over by the Greek Government, and the Onassis organization got about $104 million for its assets.
Over the years, the board and Ms. Onassis pared the shipping fleet down to about 35 tankers, freighters and other vessels by selling some and scrapping others. Meanwhile, it has increased real-estate holdings in the United States, Europe and Latin America. These include ownership of Olympic Towers, a residential and office condominium at 645 Fifth Avenue. Business by Telephone
In recent years, she had spent three to four hours a day conducting the family business by telephone from wherever her jet-set life took her. After marriages to Joseph Bolker, an American businessman, Alexander Andreadis, a Greek shipping magnate, and Sergei Kauzov, a Russian shipping agent - all of which ended in divorce - she married Thierry Roussel in 1984.

Christina Onassis and Joseph Bolker

Christina Onassis with gold digger Thierry Roussel
Mr. Roussel is a failed entrepreneur from a family of French phamaceuticals magnate which controls a dozen companies and had many financial trouble, wedding Christina and have a daughter with her was like winning at the lottery for him. Their daughter, Athina, was born in January 1985, and the couple filed for divorce eight months later. The divorce proceedings had not been completed.

Ms. Onassis, who made frequent trips to Argentina, had been staying with Marina Dodero, one of her closest friends and a member of a shipping family. Ms. Onassis was born Dec. 11, 1950, in New York, but gave up her American citizenship for tax reasons after her father's death.

Christina and Ms Dodero

Christina and her best friend Ms Dodero
 The sister of Aristote Onassis, Merope Konialides thought that the smiling granddaughter of the ship owner George Empirikos would be good company for her ‘difficult’ and somewhat lonesome 15-year-old niece.  She was right. The two girls hit it off immediately.

Ms Dodero was the best friend of Christina, she explained that in February 1964 she met Christina Onassis - she was 17, and she was 15 in Punta del Este, a small paradise near the sea in Uruguay where she use to spend her family vacation. We became very good friend and inseparable. A few months later, she went to Greece with her parents and spent some time on Skorpios with Christina, her brother Alexander, father, Aristotle Onassis and her mother, Tina Livanos. Since then, their friendship became very strong and we were constantly traveling together to Skorpios and Argentina. We were like sisters. I never felt any difference between us despite the fact that she was at the time the richest heiress in the world; Christina was equal with me, frank, open and honest.

In 1969, one evening, she received a call from Aristotle her father, he was furious, he said: "You know that your girlfriend married an American", I was not aware. "Desperate, I called Christina to verify and explain the anger of her father about this marriage. She responded with a disconcerting serenity. "Yes, I married Joe Bolker in Las Vegas. "She was 19 and will inherit the Onassis fortune. A few days later, follow the pressure from her father, she climbed on a plane and arrived in Buenos Aires home, alone! Her marriage had lasted a week ...

In Paris, I lived with Christina at their family duplex flat at 88, Avenue Foch; her father was living on the floor above. She decided one day to have fun, to take to the streets and make like we were sex workers ... After 500 meters, we were offered 500 francs by some mens, and the police stopped us and took us to the police office. Christina explained to the policeman that it was just a joke for fun and that she was the daughter of Onassis. The policeman, jeering, replied: "And me, I am the son of De Gaulle! "Christina hailed the flat concierge Maggie asking her reluctantly to inform her father. Furious, he freed us immediately from this embarrassing situation. We laughed so much.

Christina Onassis reading on the Christina Yacht sofa deck

Christina and Alexander sharing cookies and milk

Christina Onassis in her room on the Christina Yacht with her favorite soft toy..."Softy" the Leopard

At Skorpios on the yacht that bore her name the Christina, Jackie Onassis came with her children, John John and Caroline, with whom she got along wonderfully. She swam, played cards and made some Jet Ski. Winston Churchill, a close friend of Aristotle, was with them every summer on the yacht. They spend their afternoons to recreate the world around a bottle of whiskey. As Churchill had difficulty walking, Ari made him build a special electric cart for his displacement on the yacht. Churchill really liked Mr Onassis's company, he found him real and very cultured.

Christina came to Buenos Aires October 20, 1988 to celebrate her friend's 40 years. She told her: "I can not stand the cold and rain of Geneva, I want to remain living in Argentina with my adoptive family, the Dodero. "She did not drink alcohol, do not take drugs, as the gossips were saying it, but drank liters of Diet Coke a day! They rented a house near Buenos Aires to invite all their friends.

Christina's wedding with gold digger Thierry Roussel

October 1988 was cold and icy, but not more so than the heart of Christina Onassis. Once more she was alone, battling to accept her divorce from Thierry Roussel, his affair with Gaby and their children, the fact that he would take their daughter Athina to Switzerland, to the home of ‘the other woman’. She escaped to Buenos Aires and from the summer was involved in a tender romance with Jorge Tchomlekdjoglo, the brother of Marina Dodero – a childhood friend, businessman (who was head of a huge textile mill) rich and prominent member of the Greek community of Buenos Aires. She declared herself in love. Out of the blue, she decided to live in Argentina, to make a new start.  Once again, as she always did when newly in love – she checked into a Swiss clinic to lose weight. She dieted, underwent liposuction and shed 30 kilos. She also dyed her hair blonde. On October 19, the 37-year old Christina Onassis who flies to Argentina is very different from her old self. She celebrated the birthday of her friend with Marina, her family, and Jorge – Marina was turning 40 and complained. “Christina, because of you, everyone, all over the world knows how old I am.”
Journalists followed her everywhere. At the end of October she returned to Europe, in all likelihood to settle the details of a permanent move to Argentina. At the beginning of November – and as she prepared to return – Athina falls ill. On November 9 she flies alone to Buenos Aires and moves into the presidential suite at the Alvear Hotel.

She was in a good mood, but constantly felt cold, shivering all the time – perhaps the first signs of a weak heart? However, she had a good time, went out, went to parties, met people, made plans. With Archbishop Yennadios of Argentina they discussed a memorial service she wanted to hold for her parents and brother. She confided in him that she wanted to have another child – a boy – to give him her father’s name. Three days before she died, she visited Panagitsa, a small church that had recently been opened and took Holy Communion. As if she’d already decided her fate.

November 18, 1988. On the last morning, the last day of her life, Christina Onassis appeared happy. She woke up early, called Marina – and was in the mood for a drive, she wanted to go to the hairdresser, have a manicure. They booked a noon appointment at Salon Talcahuano. For the first time in her life, Christina wanted to paint her nails dark red – she laughed like a young girl.
“Then,” writes Marina Dodero “we went to the office of my brother George which at the time was on Αlsina road… Jorge and Christina got on very well. Christina would stay with him and I would go shopping and prepare our holiday home in Tortuguitas where we would spend the weekend.  We set off in the afternoon, me, Alberto, and our daughters Carmen and Twitie-Christina.”
They are arrived at the Tortuguitas Country Club early (the luxury resort where the Doderos rented their holiday villa) and started preparations for dinner.  But the hours went by and Jorge and Christina did not show – later he said that she had fallen asleep on the couch of his office and he did not have a heart to wake her up …
It was a warm evening, everyone was wearing summer clothes, but Christina was cold.
She wore a red pullover and shivered. “I will never forgive you for telling me it was hot in Buenos Aires,” she would moan good naturedly to Marina.  They ate pasta, salad and asados and drank wine. They got warm.
“We sat at the table and it made an impression on me that after a considerable time Christina started talking about her father and brother, as well as about a number of other issues that she never used to talk about. It was something of a catharsis…..A statement of the love she had for her people. She was glowing with happiness.”

Christina and Marina 

When they met up, the two friends would sleep in the same room. But that evening Christina said she would be staying with Jorge “her darling” as she called him. In reality she had asked Jorge to accompany her as far as the chapel of the club to pray. When she returned, she went to her friend’s room, told her about her ride and bid her good night.
“With a laugh she told me that she was very tired and that the only thing she wanted was a little sleep. She blew me a kiss and said ‘goodnight’ in Greek. That was the last time I saw her alive.”
Around 1.30am Christina went into her room and shut the door behind her. She was alone. Usually when she was well she liked to be alone with the radio for company. Eleni Syrou, her loyal housekeeper, recalled later that the radio was on all night.
The next morning Marina Dodero looked for Christina but saw that she was not yet up.  Worried, she went to her room and found her in the bathtub. At first she thought her friend had fallen asleep in the bath, as she tended to do.
“Eleni came to help me make the bed but as soon as she saw her face she started to scream. I could not believe what had happened. In a state of shock and I went to find my brother. With my former husband Alberto, Jorge went into the bath, lifted her body and laid it on the floor. I remember Christina’s eyes open, looking at infinity.”
It was a huge shock – the pain, fear, the question marks were equally enormous. What had happened? Three doctors went to the Tortuguitas Club, trying to find an answer and then Christina’s lifeless body was taken to the Del Sol private clinic, which she co-owned.

The police were informed about 12 hours later, in an apparent desperate attempt to avoid a scandal. However, the autopsy left no room for suspicion or doubts: her death was not the result of a violent blow, her body had no marks on it, no scars or signs of violence. Similarly, no signs were found of excessive use of medicine or chemical substances. Christina had not been poisoned.
The conclusions were clear: death from natural causes. Pulmonary edema.
“It was two in the morning when they brought her to the church. Eleni had chosen a white, embroidered dress which gave her an angelic look. Her hands were joined and her smooth skin was swollen from the autopsy.  But her red nails stood out.” A touch of vanity – and much as the richest woman in the world could take with her.

After all the legal steps to bring Christina Greece, as she would have liked, She went to Skorpios, with her body, in the garden of their teenage, and so many shared memories. Six days later, in the pouring rain, hundreds boats accompanied Christina with thousands of candles to make her a last farewell. A beautiful tribute by the local countrymen. Skorpios will dwell forever.

Rest in peace Christina

I met Athina Onassis Roussel, the last direct descendant of Aristotle Onassis, on a hot day in July 1999, when she was a tall, coltish, shy girl of 14. She was in Greece to attend the wedding of a second cousin at the seaside estate of her famous grandfather’s stepsister, Kalliroi Patronicolas. Wearing a long-sleeved white jacket over a summer dress, Athina stayed close to her father, Thierry Roussel, all afternoon, speaking French in a soft, hesitant voice, never making eye contact with the distant relatives he introduced her to, always standing slightly behind him, as if he were a shield between her and the world.

The next time I talked to Athina, five years later, she seemed a different person. She had separated herself from her father and moved out of his house, and she was immersed in a bitter legal battle with him to win control of her fortune. Hearing that I was writing an article about her, she called me at my hotel in Athens and peppered me with so many questions in fluent, nearly unaccented English that I hardly had an opportunity to ask her any of my own.

My investigation into the battle between Athina and her father over the Onassis wealth has produced what may be the first clear picture of their complicated situation since Christina Onassis died in 1988, leaving her three-year-old daughter as her only heir. I have uncovered details of the childhood she spent under her father’s strict control and come upon revealing glimpses of the person she is today. “The mere fact that she took on her formidable father at such a young age shows that there may be a lot more of her grandfather Aristotle in Athina than most people think,” says Alexis Mantheakis, who has known her since 1998 and who formerly served as a spokesman for Roussel in Greece.

Athina’s confrontation with her father and her newfound assertiveness are not the only surprising developments in the sole surviving heir of Aristotle Onassis, the Anatolian tycoon who revolutionized the shipping industry and captured the hearts of both opera diva Maria Callas and Jacqueline Kennedy.

In 1999, as a timorous 14-year-old, Athina went to a court for minors in Oberengadin, Switzerland, with her father and renounced everything related to her grandfather’s heritage. She made a statement in which she stipulated, according to a court report, that she felt “great aversion to anything that is Greek, even though she knows that her mother, her grandfather and her fortune come from Greece.” This extraordinary declaration, clearly encouraged by her father, was in defiance of certain specifications in the protocol that he had signed when he took custody of the three-year-old: “(1.1) As agreed with Christina Onassis when she was alive, Athina will be reared in the Orthodox religion. (1.2) … She will learn the Greek language so as to speak it fluently.”

On this issue, too, Athina has made a complete about-face. In the fall of 2003 she renewed the Greek passport her mother had obtained for her. This past January she joined an Athenian equestrian club called Avlona in the hope of riding in international competitions, including the 2008 Olympics, in Beijing, wearing the blue and white of the Greek flag. And when the former president of the Greek Equestrian Federation, Isidoros Kouvelos, enrolled her in the club under the name her mother used to register her birth—Athina Christina Roussel—a close friend of the young heiress asked him what she would have to do to change her name officially from Roussel to Onassis.

What has brought about this dramatic transformation in Athina, and what impact will it have on the fortune created by her grandfather? How has she changed from a frightened child, convinced that only her father could protect her in a world full of danger, to a defiant 20-year-old ready to fight him in court for her legacy and consider rejecting his name?

As her father’s countrymen might put it, “Cherchez l’homme.”

The man in this case is Alvaro Alfonso de Miranda Neto, the six-foot-two, dark-haired, muscular, boyishly handsome son of a Brazilian insurance executive. Doda, as his friends call him, is 12 years older than Athina and has won Olympic medals in the sport that is her passion, show jumping. Far from the home in Switzerland where she grew up, Athina now lives in São Paulo, Brazil, Alvaro’s native city. She has learned Portuguese and bought a duplex, reportedly for $5.8 million, in the city’s best neighborhood, and on December 3 she plans to wed Alvaro in São Paulo, according to Konstantinos Kotronakis, the honorary Greek consul in Recife, who says the couple has asked him to be best man.

“Doda’s been a strong influence on Athina and a very positive one, in my opinion,” Kotronakis told me on a visit to Athens. “He’s the one who urged her to take control of her own financial affairs and to take a new interest in her Greek legacy. He told her, ‘Onassis was a symbol of everything Greek. How can you turn your back on such a heritage?’ ”

Friends of Thierry Roussel, 52, who lost the long and bitter struggle for the management of Athina’s fortune but who is believed to have wound up with a munificent settlement, are not so sanguine about Alvaro’s motives. “Now that Athina controls the half of the Onassis money that her father fought for—her mother’s half—Alvaro is positioning her to ultimately take control of the other half, which Onassis left to a foundation in memory of his son,” one Roussel supporter told me. “That foundation is based in Greece and controlled by a Greek board, and that may well be the reason Alvaro is pushing Athina to re-discover her Greek heritage.”

If Athina does try to seek the presidency of the Alexander S. Onassis Public Benefit Foundation, it is certain to produce an international battle royal that will make the two past struggles—between her and her father for Christina’s money, and between Roussel and the foundation’s directors over the management of Athina’s fortune when she was a minor—seem tame by comparison. “This is the most prominent foundation in Greece,” says its president, Stelio Papadimitriou. “We are not going to turn it over to someone who has no connection with our culture, our religion, our language, or our shared experiences, and who never went to college or worked a day in her life. There’s nothing we would want more than to have a descendant of Onassis become president of the foundation, but Athina’s qualifications for the job are nil. She can do whatever she wants with what she inherited from her mother, but not with Onassis’s legacy to the Greek people in memory of Alexander.” According to Papadimitriou, the foundation has spent more than $80 million to build a state-of-the-art center for heart surgery in Athens, awarded more than 3,000 scholarships and grants to students over the past 26 years, funded competitions in the arts around the world, and begun construction of an $80 million arts center in Athens.

Athina’s legacy includes not only a vast fortune but also a grim family history that evokes the classic Greek tragedies and is often referred to as the Onassis curse. Her mother, Christina, died in 1988 in Buenos Aires at the age of 37, from a heart attack produced by acute pulmonary edema. Christina, who was found dead in her bathtub by her friend Marina Dodero and a maid, had battled eating disorders and depression most of her adult life, and she was considering marrying for the fifth time, having divorced Roussel a year earlier. Athina was then being cared for by a nanny on Christina’s estate in Gingins, outside Geneva, but as soon as Roussel returned from Christina’s funeral, on Skorpios, he had the little girl brought to him at his family’s home in France.

Christina had been smitten with Roussel from the moment she met him, and she fought desperately for the handsome playboy’s affections, even tolerating the discovery that, while she was married to him and pregnant with Athina, his longtime mistress, Swedish model and translator Marianne “Gaby” Landhage, was also pregnant with his child—a boy they named Erik, who was born several months after Athina. In an effort to keep Roussel by her side, Christina would invite him, with Gaby and Erik, to her estate and insist that they all be photographed together. What finally drove Christina to divorce was the discovery that Gaby had given birth to a second child, Sandrine, who is now 17.

Christina divorced Thierry but still hoped to make up and have another child with him. In the fall of 1987, she wrote a letter to Stelio Papadimitriou, saying, “I want to remind you that I was the first one who came to you … to ask for help, to protect me against Thierry.… I built a house made in cement, with a door to open the house. In this house I put all my capital, and the door was closed and the job of the protectors is to keep the door closed. They are there to help me, because they know too well that I have a weakness for this man, and therefore I will always be subject to abuse.”

Fifteen years before Christina’s death, her brother, Alexander, whom Onassis had groomed to take over his empire, died at 24 from injuries suffered in a freak airplane crash in Athens, which sent both of their parents into emotional tailspins that quickly claimed their lives. Their mother, born Athina Livanos but called Tina, had divorced Onassis in 1960, after he went public with his affair with Maria Callas. Tina died within a year and a half of her son, when she was only 45. Onassis, who left Callas in 1968 to marry Jacqueline Kennedy, died two years after his son’s fatal crash. “Both lost the will to live after Alexander died,” says Marilena Patronicolas, Onassis’s niece.

When Tina Livanos Onassis Blandford Niarchos died of a suspected overdose of barbiturates in 1974, she left most of her estate, estimated at $77 million, to her daughter, Christina, and upon Christina’s death in 1988 it passed on to Athina, who was named for her grandmother. But the bulk of Athina’s inheritance comes from her grandfather, Aristotle Socrates Onassis, and that fortune has had such a complicated journey since he died that it would take a team of accountants to trace it. I spent four years researching a book about Onassis called Greek Fire, which was published in 2000, and my contacts from that effort have helped me discover the facts about the famous inheritance that in 1988 earned three-year-old Athina the sobriquet “the richest little girl in the world.”

The first thing about the fortune that comes as a surprise is that, while it is large enough to make Athina one of the richest young women in the world, it’s nowhere near the $3 billion that was often reported. When Onassis died in 1975, he left assets valued at more than $1 billion, including $426 million in cash and securities; more than 50 ships; a half-interest in the Olympic Tower, in New York City; holdings in half a dozen countries; and his private Greek island, Skorpios. His outstanding liabilities amounted to $421 million—mostly bank loans on the ships and real estate, according to Stelio Papadimitriou, who was his lawyer—so the actual value of his estate when he died was about $500 million.

As directed in Onassis’s 1974 will, the estate was left to Christina and to a foundation to be established in memory of Alexander. The executors of the will divided the assets into two equal lots—A and B—and Christina was allowed to pick which lot she wanted. She chose Lot B, and Lot A was assigned to the foundation. The management of both fortunes was assigned in the will to four individuals who had been senior Onassis advisers in his business career.

Christina promptly threatened legal action if she could not oversee the management not only of her estate but also of the foundation, as its president. The trustees complied in order to avoid having her hold up the creation of the foundation with prolonged litigation. Christina pressured her stepmother, Jacqueline Kennedy Onassis, to accept a settlement of $26 million to abandon all claims to the Onassis estate. Under Greek law, as Onassis’s widow, Jackie could have received as much as 12.5 percent, or $125 million. By the time Jackie died at 64 in 1994, she had parlayed her settlement into more than $150 million through sound investments.

After Christina died, in 1988, her half of the Onassis estate, then estimated at $300 million in cash and securities and another $100 million in real estate, went to her three-year-old daughter. It was managed by the four Onassis advisers who served on the foundation’s board, along with Thierry Roussel.

What happened next leads to the second revelation about Athina’s inheritance. While both the Onassis assets that went to her and those that went to the foundation had essentially the same management for the next 11 years, they did not grow at the same pace. The foundation’s portion more than tripled, to over $1 billion, in that period, while Athina’s portion only doubled, to $600 million, according to Papadimitriou. These totals do not include real estate. Athina’s real-estate holdings, according to two informed sources, are estimated to total about $200 million and include two spacious apartments on the Avenue Foch, in Paris; a vacation home in Marbella, Spain; a home at Gingins, outside Geneva; a compound on Ibiza with eight swimming pools and a waterfall; Skorpios and three islands around it; two valuable seaside parcels outside Athens; and considerable property on the Greek island of Chios left by Athina’s grandmother Tina Livanos. The real-estate holdings of the foundation are now worth an estimated $600 million.

The reason Athina’s fortune did not grow as rapidly, according to Stelio Papadimitriou, is that Roussel demanded large sums for Athina’s care (some $150 million over 11 years) and made a number of bad business decisions. (Athina also had to pay $35 million in inheritance taxes, whereas the foundation, which pays taxes on income from its holdings, did not have to pay inheritance taxes.)

As an example of Roussel’s bad investment decisions, Papadimitriou cited his insistence that Athina’s estate sell all its holdings in the industry in which most of its money had been made—shipping. “Since then rates have soared, and Athina’s estate has not shared in the windfall, unlike the foundation, which stayed in shipping,” he said. Another reason Athina’s estate has not fared as well as the charity, he asserted, is that Roussel insisted that the foundation buy out his daughter’s half-interest in the Olympic Tower—just before real-estate prices in New York went through the roof. “Athina’s half-share in the building is now worth four times what her estate got for it, thanks to her father,” Papadimitriou told me. He would not specify the amount Roussel sold it for, but it is believed to have been $47 million.

I asked Roussel about this transaction in a series of questions I sent him, but he responded through his lawyer that he would not cooperate with me. His former spokesman in Athens, Alexis Mantheakis, however, insisted that the complicated ownership of the building and the leases held on it did not make it a good investment at the time. “Besides, key members of the foundation’s board managed Athina’s assets with Roussel in those days,” he added. “If the deal was not good for Athina, why did they approve it?”

Papadimitriou says that Roussel fought so bitterly with the board members over the management of the building that they went to a Swiss court and offered to sell the foundation’s share to Athina in order to end the bickering, but Roussel insisted that the foundation buy her out, and the court approved the sale.

Friction between Roussel and the board continued to grow until Roussel took legal action to have its members dismissed—a battle that was chronicled in a November 1997 article in this magazine. Lawsuits abounded in Greece and Switzerland, and charges and countercharges flew. Roussel has accused the group of mismanagement, defamation, and even trying to kidnap Athina. That incident occurred in 1997, when the British bodyguards assigned to the girl in Switzerland realized that they were being shadowed by men they identified as former Israeli commandos. Roussel called the authorities, who detained the Israelis but released them when they found no evidence to support Roussel’s allegation of an attempted abduction. “The foundation was paying for the bodyguards hired by Roussel to protect Athina, and the other men were hired by us to check the efficiency of the British guards,” says Papadimitriou. “Nobody intended to abduct the little girl.”

Nevertheless, the experience left Athina feeling threatened and vulnerable, even at home and on her way to school. Relatives and friends say that she lived in fear that someone would kidnap her, and that that is why she cowered during any appearance in public and constantly clutched at her father.

After being accused of plotting against Athina, the Greek “graybeards,” as the foundation’s board members were called in the press, in turn accused Roussel of wasting his daughter’s money in bad investments, and of isolating Athina from her Greek heritage despite the specific directions in the protocol he had signed when taking custody of her and the money for her upbringing. Alexis Mantheakis disputes criticism of Roussel: “He told me he feels he has done no wrong by his daughter, and as a mortal he has been 99 percent a correct father, something he feels proud of.”

In 1999 a Swiss court finally took the management of Athina’s fortune away from both the graybeards and Roussel and turned it over to a Swiss auditing firm, KPMG Fides, which managed it until Athina reached the legal age of 18, on January 29, 2003.

Athina had been awaiting that 18th birthday with trepidation all her life. Growing up, she had become aware of the family schisms, the court battles, the rumors of kidnappings, and threats to her life—all caused by the huge fortune she had inherited. When she went to Swiss public schools with her blond half-siblings or rode her beloved horse, Arco de Valmont, she was always under scrutiny. When she made the rare visit back to Greece with her father—as she did on the 10th anniversary of her mother’s death—she was besieged by journalists and locals who wanted to speak to her, touch her, ask her about her famous grandfather. She couldn’t understand a word of the excited Greeks who called her “koukla” (doll) and “chryso mou” (my treasure—an endearment universally used in Greece, but sadly ironic in this case).

All Athina seemed to want was to be invisible and to see an end to the fighting over her millions. When Roussel invited Diane Sawyer into his home in 1998 to interview him for 20/20 about his battle with the foundation, Gaby quoted Athina as saying, “If I burn the money, there will be no problem. No money, no problem.”

On her 18th birthday, the half of the Onassis fortune that her mother had left her—which by then amounted to at least $800 million—was turned over to Athina. Within days, however, her father had taken control of it. He managed to obtain power of attorney from his daughter, which gave him authority to supervise her estate.

Roussel then put all of Athina’s assets into a trust and brought in executives from several leading international banks, including Citicorp, Rothschild, and Julius Baer of Switzerland, to help him manage the fortune, according to a Roussel source. While the press has reported that Roussel, heir to a French pharmaceutical business, had not only squandered his own family’s money but also frittered away much of Athina’s wealth, the source says that during the nearly two years the assets were in the trust and overseen by Roussel and the banks they grew by 12.5 percent, and that Roussel has letters from the banks that helped manage them to prove it. I asked to see the letters or to have Roussel provide a written statement formally making that assertion, but neither was forthcoming.

A year before she turned 18, Athina, in a dramatic move for such a dependent child, left her home outside Geneva and moved to Brussels to pursue her passion for riding. She enrolled at a school run by the renowned Brazilian equestrian Nelson Pessoa, where, her friends say, she met Alvaro de Miranda Neto, the Brazilian Olympic show jumper whose team had won bronze medals in Sydney in 2000 and in Atlanta in 1996.

It’s hardly surprising that Athina was attracted to the handsome, sophisticated, multi-lingual champion in the sport to which she had dedicated herself. What she did not know at first was that Alvaro had long been involved with a Brazilian model close to his own age named Sibele Dorsa, with whom he had a baby daughter named Viviane. Sibele had grown tired of living in Brussels and returned to Brazil with the stated intention of joining the cast of the Brazilian version of the TV show Big Brother. Eventually Sibele and Athina learned of each other’s existence, and when it became clear to Sibele that Alvaro was dumping her for the teenage heiress, she gave a number of bitter statements to the press. “She can buy him horses and I can’t,” she complained. “He always told me he found her fat and ugly. He exchanged me for Athina’s money.” To one newspaper she said, “We were happy together until he met her. Our only problem was money, and Doda is useless with money. What he earns, he spends. He is a charismatic, persuasive man. She will hang on his every word, but she will learn, as I have.” According to a British newspaper, “the couple insist that their relationship began when Doda parted with Sibele.”

The amount of money 17-year-old Athina was then receiving was in fact quite small, because her father had put her on an allowance of 10,000 euros (then worth about $9,000) a month, according to what she and Alvaro later told a friend. But Athina had found her first great love, and restrictions on her buying power were the last thing on her mind. She had never been interested in jewelry or couture clothing. Her only extravagance was horses, and the bitterest memory of her childhood, according to one friend, was when her father refused to give her half a million dollars to buy a champion horse she had her heart set on.

In the first rush of love, the couple led a simple life in Brussels, going to films and inexpensive restaurants, spending most of their time in grueling training sessions. However, according to the Brazilian press, soon after Athina reached 18, Alvaro took her to São Paulo to celebrate his 30th birthday—February 5—and to meet his parents and his little daughter.

Although Athina resembles her mother, especially in her big, dark, Byzantine eyes, she was spared Christina’s large nose and her persistent weight problem, which led to yo-yo dieting and probably contributed to her death. Taller and fairer than her mother, Athina inherited a degree of her father’s good looks. The comments made by Sibele must have bothered her, however, for, according to Brazilian and international newspapers and magazines, on February 24, 2003, shortly after arriving in São Paulo, she checked herself into a clinic, reportedly to have liposuction done on her abdomen and derrière at the hands of Dr. Ricardo Lemos, who is noted for making Brazilian women thong-ready. Even though she left the clinic by the garage, Athina was photographed in a large, flowing man’s shirt and slacks, flanked by Alvaro and her bodyguard. (An assistant of Dr. Lemos’s would neither confirm nor deny that the doctor had treated Athina.)

Ten months later Athina and Alvaro were vacationing in Uruguay at Punta del Este, where they reportedly spent four days in the presidential suite of the Conrad resort and casino. Athina commented, “My grandfather Aristotle was a regular visitor to Punta del Este when he lived in Argentina”—a sign that she had been studying Onassis’s early history. Back in São Paulo, she reportedly bought Alvaro a prize cow named Esperanca (Hope) for his cattle farm, a $320,000 gift that was compared to the 40-carat-diamond engagement ring Onassis gave Jackie Kennedy, valued at up to $600,000.

Athina moved into a rented apartment in São Paulo and began to study Portuguese, in which she soon became fluent. (The heiress, who also speaks French, English, and Swedish, is said to have the same facility for languages that her grandfather had. Aristotle Onassis spoke six.) Then she began looking for a house to buy. “She loves Brazil because life is more relaxed there and she wasn’t harassed by reporters, as she was in Europe,” says Kostas Kotronakis. “She feels she can lead a more normal life there.”

In December 2004—close to Athina’s 20th birthday—she and Alvaro went to the consul and asked him to be the best man at their wedding. At first, Kotronakis says, they considered marrying on Skorpios, where her grandfather wed Jacqueline Kennedy 37 years ago. (A skeleton staff of 10 live on the island, keeping it always ready in case Athina should decide to visit—something that has happened only four times during the last 17 years, the most recent in 1998.) But, perhaps aware of the media circus that that earlier event had caused, they decided that security was not good enough in Greece and that they would marry in a Catholic ceremony in São Paulo. At the suggestion of Kotronakis, they are considering having a Greek Orthodox priest as well as a Catholic prelate. Alvaro and Thierry Roussel were both born into Roman Catholic families. Gaby and her three children are Protestant.

From the beginning, Athina’s relationship with Alvaro troubled Roussel, partly, some say, because he was no longer the main influence in her life, and partly, according to one friend, because he grew increasingly convinced that his daughter’s main attraction for the Brazilian was not her youthful beauty or her riding skills but her fortune. Roussel apparently conducted investigations of Alvaro and his family, and information passed on to me by one of Roussel’s friends indicated that a company in which Alvaro’s father has a non-controlling stake was involved in a long court case for not making full pension tax payments for its workers. A spokesman for the company, Pamcary, which is a large insurer of cargoes transported into and out of Brazil, says it has reached a settlement with the Brazilian government, and “installments are being regularly paid.”

As a result of his suspicions, Roussel, according to friends of his and Athina’s, kept Athina on a tight financial leash even though she had moved out of his home, and that caused a major breach between them. Early last year, when Athina’s monthly allowance ran out, according to a friend, she called Roussel’s assistant and asked for more money, only to be told that the funds she had requested were not available. When she learned that her father had tied her purse strings, a flash of the famous Onassis temper, frequently displayed by her mother and her grandfather, burst out.

Athina demanded an accounting of her assets, and the information she received from her father did not satisfy her, according to sources close to the principals in the case. Spurred on by Alvaro, she sought legal representation in London, hiring the international firm of Baker & McKenzie. A team of lawyers headed by senior partner Nick Pearson moved immediately in Chancery Court to nullify the power of attorney that Athina had unwittingly given her father and to try to freeze her assets.

Roussel resisted disclosing where the assets were, and hired his own team of lawyers, from the firm of Allen & Overy. (Neither law firm would confirm or deny anything about the case.) When Alvaro went to Athens last August to represent Brazil in the Summer Olympics, he complained to teammates, according to a witness, that at that point more than $200 million of Athina’s fortune was still unaccounted for and that most of her real-estate holdings had been mortgaged so that she wouldn’t be able to sell them. Athina, meanwhile, knowing what a scene would ensue if she showed up in Athens to watch her lover compete, kept strategically out of sight in Belgium.

Isidoros Kouvelos, husband of Athens mayor Dora Bakoyiannis and a leading figure in the Greek Equestrian Federation, hung out with Alvaro at the summer games and told me that the Brazilian’s dark good looks had women vying for his attention. “Whenever I was with him, every girl that passed by turned to look at him,” he said. “He enjoyed the attention but kept them at a distance. One went right up to him and asked him to autograph her breast, and he didn’t know how to respond. He looked around to see if there were any photographers nearby, then smiled sheepishly, signed his name as requested, and quickly walked away.”

By the end of the summer, Athina’s financial assets had apparently been established, because on September 10, according to a confidant of Athina and Alvaro’s, the two warring sides met and sketched the outline of a settlement. This was supposed to be refined and drafted over the next month, and both sides were scheduled to meet in October and sign it, but Roussel failed to appear. After further negotiations, however, he signed an agreement by the end of 2004 that released all control of Athina’s assets to her in return for a settlement that included both cash and real estate. (The actual amount is still a secret, but rumors in Athens put it at about $100 million.)

The struggle with her father took its toll on Athina. She continued to talk to Roussel on the telephone, but their conversations often became acrimonious, one friend says. She felt torn between her lifelong loyalty to him and her new dependence on her lover, who had taken her father’s place in her mind as her protector.

When Athina called me last November, she seemed highly agitated. “Did you talk to my father personally? Are you saying he criticized Doda to you? What did he say exactly?” she asked almost in one breath.

When I told her that I had not talked to her father directly and had not therefore personally heard his opinion of Alvaro, she seemed relieved, said that she had to take another call, and promised to phone me back. She never did.

Athina’s relationship with her father caused her anguish during certain periods of her life, she told a friend, though the outside world was unaware of it. Not only did Roussel warn Athina about omnipresent dangers—especially Greeks—he also demanded complete and unquestioning obedience. She has told friends that she was so frightened of angering her only surviving parent that his frequent outbursts devastated her.

According to a friend in whom she confided in São Paulo, Roussel would explode without warning. “Once, when she was about 12 or 13, he screamed at her so that she ran away and went to hide in an abandoned building, where she almost froze before they found her,” the friend told me. “Even later, when she was 17, she became so frightened when he exploded at her that she wet herself.” That was the year she left home for good.

The hard edge Roussel shows at times has not gone unnoticed even by his most ardent supporters. “Ironically, his good manners today conceal what he has always fought against in others—an authoritarian streak,” notes Alexis Mantheakis in a book he published in Greece in 2002, Athina—In the Eye of the Storm.

Despite her difficulties with her father, however, Athina loves him and continues to crave his approval. At the height of their difficulties last year, she wanted to give him half her fortune just to end the dispute, but Alvaro and her lawyers talked her out of it, according to a source close to the negotiations.

“Athina has no real understanding of what her fortune means,” says a Greek relative. “She thinks all she needs to live comfortably for the rest of her life is about $5 million, and she has no great interest in the rest. But she’s learning that having a big fortune is a big responsibility.”

Like her mother, Athina decided not to pursue a university education, choosing instead to go to riding school in Belgium at the age of 17. Her father, who also never went on to college after finishing the prestigious École des Roches, in France, is quoted by Stelio Papadimitriou as not having placed a high value on an education for Athina. “He once told me, ‘She doesn’t have to have an education. I don’t want a daughter with Coke-bottle glasses. She has me and her brother, Erik, to look after her affairs,’ ” said Papadimitriou. Alexis Mantheakis says, “I am sure Roussel in his heart would love Athina to go to university now or later.… He’s very proud of his son [Erik, now 19,] for passing his first-level baccalaureate last summer and is delighted that Erik is going to go to a good university.”

People who know Athina say that she comes by her strength of character through her stepmother, Gaby, who for 15 years reared her along with her own three children in the unpretentious, five-bedroom Villa Bois L’Essert, in Lussy-sur-Morges, a village outside Lausanne. In 1990, two years after Christina died and Roussel took the three-year-old girl to live with them, Gaby and Thierry were married, and Athina, Erik, and Sandrine were attendants at the wedding. Later the couple had a second daughter, Johanna, who is now 13. Gaby’s three children seem to be as affectionate toward Athina as they are with one another. (The settlement Athina made with her father reportedly includes generous amounts for her step-siblings and her stepmother.)

Throughout her childhood, Athina was on a firm schedule and a small allowance, enrolled at local public schools, and indulged only by being allowed to pursue her passion for horses (which is shared by Sandrine). Gaby, who comes from a middle-class Swedish family, got Athina interested in animals and the environment. Even at the height of Athina’s legal battle with her father, she spoke regularly with Gaby on the phone.

It’s generally believed that Athina had a much more stable life with Gaby than she would have had with her mother. Christina spoiled the child hopelessly, giving her dolls dressed in Dior couture, a private zoo, and, when she could sing “Baa Baa Black Sheep,” a flock of sheep and a shepherd to tend them. She would shower her with gifts and then disappear on another jet-set trip, in search of a man who would love her for herself and not her money.
If Gaby’s firm, loving influence has given Athina a solid foundation, her real mother’s life has served as a cautionary tale. In the last year Athina has taken dramatic steps to assert herself, to assume control of her fortune, and to re-establish her links to her heritage. She has even asked the Greek consul in Recife to find someone to teach her Greek. This rapprochement with her background, however, could be seen as an attempt to placate the directors of the Onassis foundation so that she can make a grab for the presidency of that half of the Onassis fortune. Friends of hers in Athens have been quietly trying to find out what exactly it would take for her to seek the presidency when she becomes eligible to do so at 21, in 2006.

The requirements are stiff. The will of Onassis says only that the president must be elected by a majority of the board, and the current members say that Athina is far from qualified for the job. While the bylaws pushed through by her mother stipulate in Article 6(b) that the charity’s president shall be a descendant of Onassis’s, as long as one is available, and shall assume the post “without the requirement of election … for life,” they also state that the president must be “eligible” by having reached “the age of 21 years” and by having the “capacity to serve and being willing to serve” its interests. “We spent millions trying to get Roussel to educate and train her to be able to take over, but she has not even finished high school, and she has no business experience whatsoever,” says Papadimitriou. “How can she serve the interests of the foundation?”

The educational background of Athina’s future husband is not much stronger than her own. Alvaro’s father, Ricardo, has a share in several companies under the banner of Pamcary. His mother, Elizabeth, is a psychologist. But Alvaro, like Athina, never finished high school, and he never showed much interest in his father’s enterprises. Since he was 10, he has pursued his passion for riding. When he began to compete professionally, he was financed by a $20,000-a-month allowance from his family and by rich sponsors, including the automaker Audi.

Clearly Alvaro is behind Athina’s efforts to become more Greek. He urges her to strengthen her national identity and her ties to the Onassis legacy on every front. He arranged for her to join the Greek riding club, and he encourages her to visit Greece and learn the language. The inevitable question that friends and relatives are asking about Alvaro’s influence on Athina is this: is he altruistically helping her gain the strength to stand on her own feet and assert her rights, or is he a fortune hunter motivated by greed, like so many of the men who victimized Christina? “She listens to him, values his opinion above all others, but she also asks others what they think, and in the end she makes her own decisions,” a confidant of both says. Alvaro has been careful not to seem to be influencing Athina. Whenever she met with her lawyers during her legal battle with her father, Alvaro made a point of not attending the meetings, a source close to the negotiations says.

How Athina will deal with her new wealth and responsibilities remains to be seen. “She is at a crossroads right now,” says Alexis Mantheakis. “Will she follow her mother’s path and have a turbulent private life, focus on the values her stepmother taught her and pursue her interest in animals and the environment, or fulfill her destiny as an Onassis and revive her grandfather’s legacy?”

Only Athina can answer those questions, and her decisions over the next few years will determine whether she becomes another victim of the Onassis curse or a survivor.

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