The Onassis Foundation
Aristotle Onassis, wishing to honour the memory of his son through the establishment of a public benefit foundation, directs in his handwritten will that his fortune should be equally divided between the foundation to be established, which was to bear the name of Alexander S. Onassis, and his daughter Christina on the explicit condition that the two portions would remain independent of each other. Thus, 45% of his fortune went to the Foundation, being the portion that he would have bequeathed to his son Alexander, and the remaining 55% went to his daughter Christina. After Onassis’s death the executors of his will, among whom were several of his close colleagues, proceeded to take all the measures necessary to establish the newly-constituted Foundation as a legal entity, named the Alexander S. Onassis Public Benefit Foundation.
In implementation of the testator's wishes, the Foundation was established in Vaduz, Liechtenstein, in compliance with whose laws two foundations were established: the Business Foundation, which was to serve purely business purposes, and the Public Benefit Foundation, which was to be for public benefit purposes only. The reason was to keep the business activities of the one separate from the work of the other. The Business Foundation engages in shipping and other business, and its sole beneficiary is the Public Benefit Foundation. In accordance with Onassis's will, the latter spends about 40% of the net annual profits of the Business Foundation, and the remainder is re-invested.
Alexander S. Onassis Public Benefit Foundation
56, Amalias ave. 10558 Athens - Greece
T: +30 210 3713000 , F:+30 210 3713013