Rich List 2023
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- Banking products
Crypto brothers, entrepreneurs shoot up Rich List as bitcoin rises
Here are the Rich Listers basking in a bull run which has, in some cases, added tens of millions of dollars to their net worth in just three months.
- Updated
- Primrose Riordan and Andrew Turner
Why this billionaire’s gift card company is still losing money after 10 years
Prezzee, which sells gift cards and is backed by Shaun Bonett, has shown a $40 million loss but says accounting rules are to blame.
- Primrose Riordan and Nick Bonyhady
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- Property investment
Inside the descent into chaos at a Chinese billionaire’s cattle empire
“My view was that animals would die, employees would leave, the companies would be sued, and then more cattle would die.”
- Primrose Riordan
Rich Lister Raphael Geminder poised to snare Pact
Kin Group has moved to an 85 per cent stake in the packaging group as a higher takeover bid gains traction.
- Simon Evans
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- Property development
Buckeridge family to relaunch sale of West Australian builder BGC
The company recorded a $63 million loss for the last financial year, according to new accounts. Construction costs had jumped 50 per cent in two years, it said.
- Primrose Riordan
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- Rich Listers
How some Rich Listers doubled their fortune in 2023 while others fell
The boom in IT stocks burnished the fortunes of Australia’s top tech entrepreneurs, while the crypto millionaires made a comeback.
- Primrose Riordan and Andrew Turner
How Sam Kennard built a $2.6b empire
The influential business figure always had ambition to work and grow the family company. But he didn’t expect his dad to give him total control when he was just 24 years of age.
- Julie-anne Sprague
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- Commercial property finance
Sam Arnaout arrives at Hudson House, headquarters of the very rich
The billionaire publican has snapped up the offices once occupied by late television king Reg Grundy, signalling a changing of the guard among Sydney’s rich.
- Primrose Riordan and Campbell Kwan
Sigma could shed customers after Chemist Warehouse merger
The deal, creating an $8.8 billion retail and wholesaling giant, could even be blocked by competition regulators, according to analysts at Morningstar.
- Carrie LaFrenz and Tom Richardson
Chemist Warehouse duo to climb Rich List after Sigma deal
Documents associated with the merger, which will create a retail giant, show for the first time the precise shareholdings of Jack Gance and Mario Verrocchi.
- Michael Bailey
December 2023
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- Gambling
Rich lister’s online casino empire feels heat of US lawsuits
The wildly profitable business operated by the Perth billionaire is facing legal challenges in US two states, and a crackdown on digital gambling in a third.
- Primrose Riordan
Influential pharmacy lobby comes out against Chemist Warehouse deal
The Pharmacy Guild says the proposed reverse listing of the company into Sigma, creating an $8 billion giant, posed “significant questions and risks”.
- Carrie LaFrenz
Ahmed Fahour to lead Rich Lister Tim Gurner’s $15b property empire
The former Latitude Financial and NAB chief executive’s latest gig is to drive the expansion of the luxury apartments and wellness platform, Gurner Group.
- Nick Lenaghan
Justin Hemmes’ $3b property empire outgrows nightlife roots
The billionaire has spent at least $900 million building a sprawling hospitality and residential empire. But there’s one business he is happy to leave in the shadows.
- Updated
- Primrose Riordan
How Cathie Reid went from typing class to a $550m fortune
The Rich Lister originally wanted to be a typist. Instead, she became a pharmacist before she spotted a gap in the market and become an entrepreneur alongside husband Stuart Giles.
- Julie-anne Sprague
Rich Lister returns to his rock’n’roll roots with $180m US deal
The microphone mogul behind Rode has ambitions to be the world’s biggest provider of pro audio gear, most of it made in Australia.
- Michael Bailey
November 2023
‘Idiotic thing to do’: Sponsor says STC has ‘learnt its lesson’
Robert Magid, whose Pier One Hotel sponsors the besieged theatre company, said his support hinged on no evidence of management collusion in Saturday’s pro-Palestinian protest emerging.
- Michael Bailey
Chinese billionaire exits WA cattle station empire in $300m deal
A Canadian investment giant has teamed up with local platform New Agriculture on a mega cattle station deal in the Kimberley region. It comes amid signs the worst is over for the meat market.
- Nick Lenaghan and Larry Schlesinger
Oatley family dumps plan for $1b Hamilton Island sale
The family had tasked UBS with a review of the prized tourism asset but decided against offloading it.
- Updated
- Primrose Riordan
Desperate for staff, Moulin Rouge lures talent with a free show
The musical is struggling to replace any technical crew that leave, so it is putting out the call in the hope of luring fresh talent.
- Michael Bailey
- Exclusive
- eSports
Melbourne football club probed over deal with crypto casino mogul
Melbourne Victory has been accused of backtracking on a commitment not to accept gambling sponsorship after signing up Ed Craven’s live-streaming site, Kick.
- Primrose Riordan and Zoe Samios
Sussan co-founder, philanthropist Marc Besen dies at 99
Tributes are flowing for the Holocaust survivor who arrived in Australia in 1947, built a fortune in the retail trade and then shared his success through philanthropy.
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- Nick Lenaghan and Michael Bailey
Slow going for Rich Lister Geminder in Pact buyout
Raphael Geminder was at the Melbourne Cup on Tuesday, with his buyout bid for the rest of Pact making little headway.
- Simon Evans
John Kahlbetzer, from oil rigs to the Rich List, dies
German-born Kahlbetzer worked in the fossil fuel industry after arriving in Australia in his early 20s before his entrepreneurial flair built a vast fortune.
- Updated
- Brad Thompson
How Mark Carnegie thumb-sucked his way off the Rich List
The entrepreneur and corporate adviser has had plenty of woulda, shoulda, coulda moments. One of them cost him about $100 million.
- Julie-anne Sprague
- Exclusive
- Investment banking
LGT Crestone tries to nab nation’s richest families from UBS
LGT Crestone is on the hunt for someone to cover family office clients, and plans to offer mansion mortgages to snare a larger share of Australia’s wealthy.
- Updated
- Primrose Riordan and Aaron Weinman
Two Rich Listers make billions from Qld coal
Wealthy businessmen Sam Chong and Chris Wallin are the beneficiaries of big paydays from highly profitable Bowen Basin operations, despite softening prices.
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- Primrose Riordan and Joshua Peach
Cotton On posts record sales after overseas push
The group behind popular retail names like Typo and Supre posted a record $2.2 billion in sales and opened more than 100 stores overseas last year.
- Carrie LaFrenz
October 2023
Rich lister Lang Walker’s developer profits up 30pc
The billionaire real estate mogul is the sole shareholder of Walker Group and is working on major projects in Parramatta, Sydney and Melbourne.
- Nick Lenaghan
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- Fashion retail
His teachers said he’d end up in jail. Now he’s on the Young Rich List
Geedup founder Jake Paco has conquered his demons and is taking his cult streetwear brand from western Sydney to New York.
- Carrie LaFrenz
