Pericles Panagopoulos, the 83-year old Greek shipping magnate, died in the early hours of Tuesday, according to a social media post made by a member of his family.
Panagopoulos was born in 1935 and is considered one of the most successful Greek shipping magnates since the era of Aristotle Onassis.
His net worth was estimated at €280 million ($328 million) in 2009.
Panagopoulos was in the center of media attention in 2009 when he was kidnapped by armed men in the Greek capital.
The kidnapping was later determined to have been orchestrated from prison by the Greek crime boss Panagiotis Vlastos, who later made a failed attempt to escape Korydallos prison.
His wife paid a ransom of €30 million ($39 million at the time) to secure his release, making it the largest amount of money to ever be paid to kidnappers in Greece.
Panagopoulos’ funeral will take place on Friday in the church of Saint Dionysius the Areopagite in Athens.