Andrianakos Billionaire Estate Plunges into Inheritance Battle

The estate of late Melbourne billionaire Nick Andrianakos is embroiled in an inheritance dispute among his four children. Theo Andrianakos, the youngest son, claims that a revised will, which was never signed, represents his father's final inheritance plan. The other three siblings, Paul and Kristina Andrianakos and Vicky Papamarkou, are relying on the original document signed by their father.

At the heart of the dispute is whether an unsigned, revised will or the original signed document represents Nick Andrianakos's final inheritance plan.

Legal Battle Heads to Trial After Failed Mediation

The case has been filed in the Supreme Court of Victoria and is expected to proceed to trial. This comes after a mediation hearing failed to resolve the dispute on March 30.

Theo Andrianakos stated, "This is a private family matter. I am focused on continuing my father’s legacy including ensuring that his final wishes are honoured." The other siblings declined to comment or did not respond to inquiries.

Expanding the Dispute: Partner and Advisor Involved

Further complicating the dispute is the involvement of the late billionaire's partner, who lives in Greece and was represented at the mediation. She was reportedly promised up to €5 million ($8 million) from the estate.

Peter Pagonis, a succession planner who provided financial advice to the billionaire, is also listed as a plaintiff alongside Theo Andrianakos.

The $2 Billion Andrianakos Empire

Nick Andrianakos had an estimated fortune of $2 billion in 2025. His estate includes at least five Victorian properties, such as a Greenvale mansion and a private penthouse at the Westin Hotel.

The billionaire also held significant property and business interests in Greece, including a luxury hotel under construction at the time of his death. The family company’s property portfolio spans Melbourne, Brisbane, and Adelaide.

The Patriarch and His Successor

Nick Andrianakos died unexpectedly in March last year in Greece at 81 from a heart attack. He had previously identified his youngest son, Theo, as a driving force in the family's petrol and property conglomerate.

Theo became CEO of Andrianakos Property Group, Nikos Property Group, and Milemaker Petroleum in 2018. His siblings hold director roles in family companies, contributing to the family's valuation reaching $2 billion in 2025.