The Polites family dynasty: Inside their mega wealth and bitter feuds

Their name adorns buildings around the city, making them local celebrities. Here’s how the Polites made their fortune – and the bitter feuds that have scarred their legacy.

• Polites estate sued for more money

One of the state’s wealthiest families is embroiled in a new legal war over the multimillion-dollar will of their empire’s late matriarch.

Florence Gemenis Polites, who was married to the late Adelaide property king Con for almost six decades, died in March, aged 102.

But her grandson, convicted drug importer Markas Salkanovic, 54, is suing his family in the Supreme Court for more money from his grandmother’s estate before inheritance laws change in three weeks’ time.

Here, we look at some of the members of the well-known Adelaide family.

Con Polites

SA businessman Con Polites in 1994.

Adelaide property mogul who became one of the state’s richest people, and most colourful, identities. Once known as “the king of Hindley St”, his surname became famous for adorning buildings around the city on simple white signs emblazoned with blue writing. Known for driving Rolls Royces and smoking cigars. Once said the best money he ever spent was in 1972 on a $236,000 Rundle St property, which was sold in 1989 for $5.3 million. He died in 2001 of heart failure aged 82. His grave was desecrated in a macabre attack. Police later said there was no evidence to lay charges.

Florence Polites

Florence Polites was married to Con for 56 years.

Florence Gemenis Polites was married to the late Adelaide property king Con for 56 years. The mother of three, grandmother and great-grandmother was considered the family matriarch before she died “peacefully” in March, aged 102. The Supreme Court has been told her estate, summarised in a 1999 will, had assets of more than $1.5m including shares and property interest but had debts of more than $2.8m. Her two daughters were Helen and Evon (now Koumi)

George Polites

SA businessman George Polites, son of Con, pictured in 2002.

Now runs the family empire as chief executive, George, 70, shuns the spotlight, preferring to operate away from the public. The son of Con and Florence has been director of more than 50 companies, most with rather nondescript names such as Polites Corporation and Melbourne Properties, and a slew with the prefix “Princes”, which appear to be set up to own property assets. The family own a string of luxury properties in some of Adelaide’s most affluent areas including Glenelg and Springfield.

Markas Salkanovic

Markas Salkanovic arriving at the Adelaide Magistrates Court with “He Set Me Up” written on his hand in 2016. Picture: Greg Higgs

The grandson of Con and nephew of George, has been considered a black sheep of the family for years. Problems arose in 2015 when he was arrested on drug import charges before he was “cut off”. A District Court jury found guilty in 2019 of attempting to import more than 1.3kg of pseudoephedrine — a precursor for making methylamphetamine. But he avoided immediate jail, instead was released from a Two-and-a-half-year jail term on condition of entering into a two-year good behaviour bond. His mother is Helen Polites.

Marcus and Alex Polites

Alex Polites, left and Marcus Polites. Picture: Supplied

George’s twin sons Marcus and Con (Alex), both 40, are now based in Queensland and involved in property development. Marcus denied in court this week that they were helping their cousin or helping him fund his legal action against the family. Their sister Parisha has nothing to do with any of the legal fight.

Originally published as The Polites family dynasty: Inside their mega wealth and bitter feuds