 Because Nicolaidis tried to save his newspapers no matter what it took, he sold his possessions and lost his wealth.He had a wife, Sevastitsa; two sons, Nikolakis "Nikos" and Georgakis; and a daughter, who married in 1892.He invited Sultan of the Ottoman Empire Abdulhamid II to his daughter's wedding; Balta and Kavak stated that this illustrated the close relationship between the Ottoman government and Nicolaides.