The Haseotes family owns and operates more than 600 Cumberland Farm convenience stores in the United States. Until it sold its share of the Gulf Oil Company in 2016, it was also responsible for the distribution of refined petroleum to approximately 2,500 Gulf stations throughout New England, New York, the Mid-Atlantic states and Florida. Founding the Cumberland Farm brand in 1939, grandson to founders Vasillios and Aphrodites, Ari serves as its president and CEO. His aunt, Lily Bentas, is chairman of the board. While the family regularly appears on lists of America’s wealthiest, in 1992, it filed for bankruptcy after Ari’s uncle, Demetrios, disastrously borrowed money from the company to purchase an oil refinery and three oil tankers of his own in the 1980s. While the company made it out of bankruptcy by 1993, and the accrued debts were repaid by 1998, it was preceded by a long period of litigation amongst members. In 2015, Forbes estimated the family’s personal wealth at $3.9 billion. Demetrios is no longer involved in the company’s operations.
