Nicosia, Cyprus. Cypriot business magnate Nicos Shacolas, one of the country’s most prominent entrepreneurs and philanthropists, has died at the age of 98 after facing health problems in recent months. His business career spanned several sectors, while his philanthropy included donations exceeding €15 million to the state.
Business career
Shacolas’ life was often described as almost novelistic. His business activities covered international trade, shipping, accounting and finance, and his business empire expanded to such an extent that it was often said that even he himself struggled to name all the companies under his control.
Landmark in Nicosia
Among his most recognisable achievements was the Shacolas Tower in the heart of old Nicosia, the tallest building in the walled city. For many years, its top floor has housed an observatory and museum, allowing visitors to look beyond the dividing line and the Turkish occupation.
International role and philanthropy
Shacolas maintained extensive business activities both in Cyprus and abroad. He also served as honorary consul of Mexico in Cyprus for 17 years, from 1990 to 2007.
Over the course of his life, he donated more than €15 million to the state for the creation of museums and educational institutions.
Honours
He was awarded honorary distinctions by six kings, heads of state and government leaders in recognition of his contribution to business, philanthropy and public life.