Costas Cleanthous
Credit: Costas Cleanthous

Costas Cleanthous built his reputation in the financial world, where he has long maintained a dynamic presence and established himself as a leading international figure. In recent years, he has built on that foundation by expanding into new areas — among them shipping, real estate, health, hospitality, and media — extending his reach across high-impact sectors.

Born and raised in Cyprus, Cleanthous first came to prominence in 2009 as a co-founder of XM, a brokerage focused on forex and CFDs. Launching the business in the aftermath of the global financial crisis, he helped guide it from a start-up company to a significant global player. Today, XM serves more than 10 million clients across 190 countries, with operations in the US, UK, Greece, Asia, Australia, South Africa, and the UAE. Cleanthous stepped down as CEO in 2018 to pursue private investments, but the company's scale remains central to his business legacy. He remains a major shareholder and is involved in the strategic planning of the company up to this date.

In recent years, he has significantly expanded his international investment activity, while also making a series of notable acquisitions in Cyprus. These include a controlling stake in Ancoria Bank (pending approval from the European Central Bank), the Phileleftheros Media Group, and the historic Forest Park Hotel in Platres. Throughout these investments, he has been clear about his objectives: to safeguard jobs, create new ones, and ensure that key Cypriot institutions remain under Cypriot ownership. Regarding Forest Park, which he describes as part of the island's heritage, he plans a full redevelopment to transform it into a modern mountain resort capable of supporting year-round tourism and boosting the local economy.

One of Cleanthous' most prominent recent initiatives, is the expansion of his activity in the luxury yachting sector. He has invested in two 72-metre megayachts designed by Giorgio Armani and built by The Italian Sea Group, a collaboration that combines high-end naval engineering with the distinctive design approach of one of the world's most influential designers. The debut of the first vessel at the 2025 Monaco Yacht Show drew unprecedented attention from investors and industry observers alike, strengthening Cleanthous' growing position in the international yachting world.

Alongside his commercial activity and international investment portfolio, Cleanthous has also become increasingly prominent for his philanthropic work. After years of private initiatives — primarily focused on ensuring access to advanced medical care for children facing serious health challenges — he established the Cleanthous Foundation in late 2023 to broaden that impact and drive meaningful change within the community. The Foundation's flagship project is the creation of a new, state-of-the-art paediatric oncology centre in Nicosia, a development valued at more than €10 million and funded entirely by Cleanthous through the Foundation.

Looking ahead, Cleanthous is set to further consolidate and grow his expanding portfolio, solidifying his standing as a long-term strategic investor with a global outlook. In parallel, he is becoming an increasingly prominent force within Cyprus' economic landscape — driving new investments, contributing to the country's economic resilience, and aligning commercial ambition with a strong sense of social responsibility.