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Greek Billionaire George Economou Buys More Shares of Danaos Corp (DAC)

In a recent filing with the US Securities and Exchange Commission, Greek billionaire George Economou reported increasing his position in Danaos Corporation (NYSE:DAC). The filing showed that Economou owns around 16.22 million shares of Danaos, which represent 14.78% of the company’s outstanding stock. The filing also showed that Economou’s Sphinx Investment Corp has acquired recently 4.75 million shares of Danaos Corporation, while the other 11.47 million shares were acquired back in 2010.

George Economou has a net worth of around $1.50 billion as of 2015 and serves as CEO, Chairman and President of Ocean Rig UDW Inc (NASDAQ:ORIG) and DryShips Inc. (NASDAQ:DRYS).

You can access the original SEC filing by clicking here.

Ownership Summary Table

Name Sole Voting Power Shared Voting Power Sole Dispositive Power Shared Dispositive Power Aggregate Amount Owned Power Percent of Class
Sphinx Investment Corp 16,221,621 0 16,221,621 0 16,221,621 14.78%
Maryport Navigation Corp 0 16,221,621 0 16,221,621 16,221,621 14.78%
George Economou 0 16,221,621 0 16,221,621 16,221,621 14.78%

Page 1 of 14 – SEC Filing

Washington, D.C. 20549
Under the Securities Exchange Act of 1934
(Amendment No. 1)
(Name of Issuer)

(Title of Class of Securities)

(CUSIP Number)
William S. Haft, Esq.
Orrick, Herrington & Sutcliffe LLP
51 West 52nd Street
New York, NY 10019
(212) 506 3740
(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
March 22, 2016

(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D/A, and is filing this schedule because of §§240.13d-l(e), 240.13d-l(f) or 240.13d-1(g), check the following box.
Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See §240.13d-7 for other parties to whom copies are to be sent.
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