subject: The Richest Men Of Australia [print this page] With the economic growth of Australia brings with it individuals at the apex money-wise. These individuals, through their hard work and business acumen, have become rainmakers in the Australian business economy. The following are the richest men in Australia.
James Packer. With a business empire inheritance that includes media and gambling, James Packer is currently reported to be worth $5.3 billion. He inherited a company from his father Kerry and transformed it into two conglomerates namely, Consolidated Media Holdings, a media publishing company and the Crown Casino Group, which has interests in both Australia and the United States. Even with his inheritance, he started out with failure, with the insolvency of the Australian telecommunications company One.Tel. During the collapse of the company, he was a director and lost Aus$327 million and from that experience, learned the business to steer his family's companies to greater fortunes not only Down Under but also worldwide.
Graeme Hart. This Kiwi billionaire is reportedly worth $5.4 billion. His roots though did not come from the moneyed elite but he started his business as a tow truck driver. As he gathered finances, he bought under-performing and under valued companies to make them stronger through his brand of business decision-making. His current main focus is on paper packaging with the acquisition of Carter Hold Harvey and Alcoa's Packaging and Consumer Group. He does not directly manage business but uses his financing leverage to re-capitalize the business and require them to perform with specific targets to maintain financial flexibility and ability. His business is primarily Leverage Buy Out companies but only underwrites all of the financial risk to maintain all the substantial rewards and if ever losses solely within his financial company, the Rank Group PLC.
Andrew Forrest. Fondly called "Twiggy", this Australian has struck his fortunes in the Australian mining business. The increased demand of metals such as iron ore by China and other countries has made his company, Fortescue Metals Group among the richest and the biggest on the world. His first mining company was Anaconda Nickel and went on to become one of the single largest mineral exporters in the world. From there, he acquired Allied Mining and Processing and renamed the company as Fortescue Metals Group and went on to become the largest iron ore exporters not only in Australia but the world. The company also has a number of valuable mining interests in major deposit areas throughout the continent. Aside from operating his mining companies, he also has major philanthropic interests in education, by opening schools and funding programs specifically for the Aborigines in Australia.
by: Bobby Castro
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