While WA is struggling through a fading mining boom, one Perth resources magnate has shot up the BRW Rich List after making one of the biggest percentage rises in wealth in 2016.
Chris Ellison, managing director of Perth-based mining company Mineral Resources, has added more than $200 million to his paper wealth since the beginning of the year, according to Australian Financial Review reporter John Stenshold.
Mr Ellison's company has become the sixth-best performing stock in the All Ords Index, having more than doubled in value.
Outside the mining circles Mr Ellison shot to local fame after paying $57.5 million to fellow BRW Rich Lister Angela Bennet's Mosman Park riverside mansion in 2009, at the time the most expensive Australian house purchase.
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At a Mineral Resources annual general meeting in Perth the previous week Mr Ellison faced some discontent when a 'first strike' was recorded against its remuneration report.
Mr Ellison together with Mineral Resources chairman Peter Wade told investors if they don't like the mining services company's executive pay structure they should leave its register.
The strike against its executive remuneration and reward package is the first in the company's history and came after proxy advisers raised concerns about the structure of its short- and long-term incentives.
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