- Category:
- Richest Business › Richest Billionaires
- Net Worth:
- $2.3 Billion
What is C. Dean Metropoulos's Net Worth?
C. Dean Metropoulos is an American businessman who has a net worth of $2.3 billion. That makes Dean one of the richest people in Connecticut.Dean Metropoulos is a billionaire businessman and investor who serves as the CEO of the investment firm Metropoulos & Co., which he runs with his sons Daren Metropoulos and Evan Metropoulos. The company has been involved in over 80 acquisitions since its founding in 1993, with some of its biggest transactions being Hostess Brands and the Pabst Brewing Company. Under Metropoulos, Pabst experienced a resurgence in popularity worldwide during the early 2010s. Dean bought Pabst in 2010 for $250 million and sold it just four years later for $750 million. Dean's son Daren famously owns the Playboy Mansion, having acquired the property in 2016 for $110 million. Daren already owned a house right next door to the mansion and plans to turn the two properties into one massive mega-property.
Born in Greece, C. Dean Metropoulos grew up in Watertown, Massachusetts. He earned both his Bachelor's degree and his Masters from Babson College, and then relocated to Geneva, Switzerland, where he served as a financial director for GTE.
After returning to the US, he formed International Home Foods in the mid-90s, and managed to successfully re-launch several brands which were all in decline. Those brands included Chef Boyardee, PAM Cooking Spray, and Bumble Bee Seafoods, most notably. He sold the company for almost $3 billion four years later. He then performed the same magic with Aurora Foods by buying it, merging it with Pinnacle Foods, and reselling the new company for $2.2 billion.
Marianne and Dean Metropoulos (Photo by David M. Benett/Getty Images)
Early Life and Education
C. Dean Metropoulos was born in May of 1946 in Tripoli, Greece. When he was 10, he immigrated with his parents to the United States, settling in Watertown, Massachusetts. For his higher education, Metropoulos earned both his bachelor's degree and MBA from Babson College in Wellesley.
Career Beginnings
Metropoulos began his business career at the age of 25 when he moved to Geneva, Switzerland to become a financial director for GTE International, a telecom, lighting, and precision materials company. He eventually became the senior vice president of GTE, and returned to the United States as the company's youngest controller.
Metropoulos & Co.Â
After building a fortune in private equity throughout the 70s and 80s, Metropoulos founded the investment firm Metropoulos & Co. in 1993. Based in Greenwich, Connecticut, the firm invests in the areas of food and beverage, consumer products, and various other diversified sectors. It has been involved in over 80 acquisitions, including of such name brands as Hostess, Aurora Foods, Stella Foods, BlueTriton, Ghirardelli, Morton Salt, and Briggs & Stratton. Metropoulos serves as the chairman and CEO of the company, which he runs with his two sons Evan and Daren.
In 2010, Metropoulos & Co. made one of its biggest acquisitions when it purchased the Pabst Brewing Company for around $250 million. Under the firm's ownership, the beer company experienced a resurgence in popularity around the world. Through Pabst, Metropoulos & Co. owned the distribution rights to other beer brands under the company umbrella, including Schlitz, Schaefer, and Falstaff. In 2014, the Metropoulos family decided to sell Pabst to entrepreneur Eugene Kashper for around $700 million. Kashper subsequently completed the sale to Blue Ribbon, a partnership between him and the private equity firm TSG Consumer Partners.
Personal Life
Metropoulos has two sons, Evan and Daren, with his wife Marianne. Earlier in her career, Marianne was the president of the movie production company Aegean Entertainment. She lives with Metropoulos in Palm Beach, Florida.
Both sons of Metropoulos help run the family business, with a focus on operational and marketing strategies. They have also been involved in various other endeavors. When he was only 19, Daren oversaw the management and renovation of the historic Castle on the Hudson in New York. Later, in 2016, he purchased the Playboy Mansion for $100 million. Both he and Evan work in the luxury residential real estate sector.
