Dompolis was born in 1769, in Epirus or possibly St. Petersburg, Russia. In Russia he created his wealth as a merchant. He was a personal friend of Ioannis Kapodistrias and returned with him to Greece where he served as treasurer.
After Kapodistrias' assassination, Dompolis returned to Russia.
In his will, to honor his friend, he left all his wealth to the Greek Nation, under the proviso to establish a University in Greece, to be known as Kapodistriako.