RICH PEOPLE – AUSTRALIA

Palmer and Packer up in top stocks

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Original article by John Stensholt
The Australian Financial Review – Page: 21 & 26 : 26-May-16

Reliance Worldwide Corporation chairman Jonathan Munz and WiseTech Global CEO Richard White will appear on the "BRW" Rich 200 List for the first time in 2016, with estimated wealth of $A1.07bn and $A657m respectively. Meanwhile, some members of the Rich List have increased their fortunes by investing in speculative resources stocks, including James Packer, Mark Creasy and Kerry Harmanis.

CORPORATES
RELIANCE WORLDWIDE CORPORATION LIMITED – ASX RWC, WISETECH GLOBAL LIMITED – ASX WTC, MOD RESOURCES LIMITED – ASX MOD, GASCOYNE RESOURCES LIMITED – ASX GCY, ALICANTO MINERALS LIMITED – ASX AQI, DE GREY MINING LIMITED – ASX DEG, BEADELL RESOURCES LIMITED – ASX BDR, MINERALOGY PTY LTD, CROWN RESORTS LIMITED – ASX CWN, PARADICE INVESTMENT MANAGEMENT PTY LTD, JUBILEE MINES NL, XSTRATA AG, BLACKMORES LIMITED – ASX BKL, ACONEX LIMITED – ASX ACX, SMART PARKING LIMITED – ASX SPZ, BELLAMY’S AUSTRALIA LIMITED – ASX BAL, MILLENNIUM MINERALS LIMITED – ASX MOY

Grove iFlicks the switch to revolutionise TV

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Original article by John Stensholt
The Australian Financial Review – Page: 31 : 23-May-16

Streaming video start-up iFlix boasts about two million paying customers in Asia after its first year in operation, according to founder Patrick Grove. The Australian entrepreneur, who is ranked 104th on the 2016 edition of the "BRW" Rich List, aims for iFlix to have one billion paying customers within a decade. iFlix currently has a presence in Malaysia, the Philippines and Thailand, and Groves has flagged plans to expand into Vietnam and Indonesia.

CORPORATES
IFLIX LIMITED, NETFLIX INCORPORATED, CATCHA GROUP, METRO-GOLDWYN-MAYER INCORPORATED, SKY PLC, EMTEK GROUP, PHILIPPINE LONG DISTANCE TELEPHONE COMPANY, TELKOM INDONESIA, ANDERSEN, IPROPERTY GROUP LIMITED, REA GROUP LIMITED – ASX REA, ICAR ASIA LIMITED – ASX ICQ, ENSOGO LIMITED – ASX E88, FRONTIER DIGITAL VENTURES

ATO targets 800 wealthy in global tax haven probe

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Original article by Neil Chenoweth
The Australian Financial Review – Page: 1 & 6 : 4-Apr-16

The records of several thousand Australian clients of Panama-based law firm Mossack Fonseca are among the 11 million-plus documents that have been leaked. The Australian Taxation Office has confirmed that it is investigating the tax affairs of more than 800 high-net-wealth Australians who are clients of the firm. Mossack Fonseca’s clients include companies and individuals who have previously been the subject of the "Project Wickenby" probe into tax evasion.

CORPORATES
MOSSACK FONSECA, AUSTRALIAN TAXATION OFFICE, INTERNATIONAL CONSORTIUM OF INVESTIGATIVE JOURNALISTS, AUSTRALIAN FEDERAL POLICE, AUSTRALIAN CRIME COMMISSION, AUSTRALIA. ATTORNEY-GENERAL’S DEPT. AUSTRALIAN TRANSACTION REPORTS AND ANALYSIS CENTRE, COMMERZBANK AG, BHP BILLITON LIMITED – ASX BHP, STRACHAN SA, RIO TINTO LIMITED – ASX RIO, ANCHORVILLE HOLDINGS LIMITED, SAMOA INTERNATIONAL FINANCE AUTHORITY, TOLL HOLDINGS LIMITED, HENDRICKS DEVELOPMENT LIMITED, STEPPE FILMS INTERNATIONAL LIMITED, FITALL DEVELOPMENT LIMITED, AUSTRALIAN LABOR PARTY, LIBERAL PARTY OF AUSTRALIA, GLOBAL WEALTH GROUP, GUARDIAN CARE PROPERTIES, FOOTBALL FEDERATION AUSTRALIA LIMITED

Millionaires roll shrinks by 5000

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Original article by Ruth Liew
The Australian Financial Review – Page: 19 : 15-Feb-16

Data from Investment Trends shows that Australia boasted 440,000 individuals whose investable assets topped $A1m at the end of October 2015. This compares with 445,000 in 2014, while the combined assets of the nation’s millionaires has fallen from $A1.57trn to $A1.55trn. Investment Trends’ Irene Guiamatsia notes that property and direct ownership of shares accounts for two-thirds of the investment portfolios of most high net worth individuals.

CORPORATES
INVESTMENT TRENDS PTY LTD, RESERVE BANK OF AUSTRALIA, STANDARD AND POOR’S ASX 200 INDEX

Perth housing mogul tops BRW young rich

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Original article by John Stensholt
The Australian Financial Review – Page: 3 : 30-Oct-15

Blackburne Property Group founder Paul Blackburne is ranked third on the 2015 "BRW” Young Rich List, with estimated wealth of $A536m. The residential property developer had capitalised on the global financial crisis to buy development sites in Perth, and now undertakes around four apartment projects each year. The 2015 list features 10 property industry players, whose average wealth is $A191m.

CORPORATES
BLACKBURNE PROPERTY GROUP PTY LTD

Richest families make second fortunes

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Original article by John Stensholt
The Australian Financial Review – Page: 3 : 8-Oct-15

The Smorgon family has topped the 2015 "BRW Rich Families List", with estimated wealth of $A2.74bn. The combined fortunes of the 50 families on the 2015 list is $A41.18bn, compared with $A40.1bn in 2014. Many families on the list are expanding into the property development sector, after making their fortunes in other industries.

CORPORATES
BAIADA POULTRY PTY LTD, STEGGLES HOLDINGS LIMITED, LILYDALE, SWISSE WELLNESS PTY LTD, BIOSTIME INTERNATIONAL HOLDINGS LIMITED, INTRAPAC PROJECTS PTY LTD, LEWIS LAND CORPORATION LIMITED, HARD YAKKA, BEST AND LESS PTY LTD, BANNA PROPERTY PTY LTD

Coalition thinks corporate tax disclosure about right

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Original article by Neil Chenoweth
The Australian Financial Review – Page: 11 : 20-Aug-15

The interim report of the Senate inquiry into corporate tax avoidance demonstrates philosophical differences between the Australian Government and the opposition parties. The Australian Labor Party and Australian Greens want more transparency, while the government thinks current disclosure rules are about right. The two government members of the committee, which is headed by Labor’s Sam Dastyari, believe a voluntary disclosure code strikes a balance between the need for transparency and the privacy and competitiveness concerns of business.

CORPORATES
AUSTRALIA. SENATE STANDING COMMITTEE ON ECONOMICS, AUSTRALIAN LABOR PARTY, AUSTRALIAN TAXATION OFFICE, AUSTRALIAN GREENS, ORGANISATION FOR ECONOMIC CO-OPERATION AND DEVELOPMENT, AUSTRALIA. DEPT OF THE TREASURY, RIO TINTO LIMITED – ASX RIO, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, FAIRFAX MEDIA LIMITED – ASX FXJ, NEWS CORPORATION – ASX NWS, AUSTRALIA. BOARD OF TAXATION

Gina drops a lazy $6 billion, but she’s still atop the pile as our richest person

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Original article by John Stensholt
The Australian Financial Review – Page: 1 & 6 : 29-May-15

The personal wealth of iron ore magnate Gina Rinehart is estimated to be $A14.02bn in the latest "BRW" Rich List. Her wealth has fallen by $A5.99bn since 2014, but she remains the wealthiest individual in Australia. Visy Industries’ Anthony Pratt and Meriton’s Harry Triguboff round out the top three, with estimated wealth of $A10.76bn and $A10.23bn respectively. The 2015 Rich List features 49 billionaires, compared with 39 in 2014.

CORPORATES
VISY INDUSTRIES AUSTRALIA PTY LTD, MERITON APARTMENTS PTY LTD, PRATT INDUSTRIES (USA) INCORPORATED, WESTFIELD CORPORATION – ASX WFD, SCENTRE GROUP – ASX SCG, LOWY FAMILY GROUP, SHIMAO PROPERTY HOLDINGS LIMITED, UNIVERSITY OF SOUTH AUSTRALIA, PLATINUM ASSET MANAGEMENT LIMITED – ASX PTM, CROWN RESORTS LIMITED – ASX CWN, FORTESCUE METALS GROUP LIMITED – ASX FMG

Patrick Grove, 40, cracks the Rich List with $286m

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Original article by John Stensholt
The Australian Financial Review – Page: 1 & 9 : 26-May-15

The 2015 edition of the "BRW" Rich List includes 12 new technology entrepreneurs, including iFlix founder Patrick Grove. The company offers streaming video services for mobile phone users in Asia, which Grove notes is a market of up to 250 million people. Grove has previously listed a number of companies on the Australian sharemarket, including iProperty and iCar Asia, and he says an iFlix IPO is possible in the future.

CORPORATES
IFLIX LIMITED, IPROPERTY GROUP LIMITED – ASX IPP, ICAR ASIA LIMITED – ASX ICQ, IBUY GROUP LIMITED, REV ASIA BERHAD, NETFLIX INCORPORATED, HULU LLC, CATCHA GROUP, PHILIPPINE LONG DISTANCE TELEPHONE COMPANY, FAIRFAX MEDIA LIMITED – ASX FXJ, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, STAN, REA GROUP LIMITED – ASX REA, ANDERSEN

Numbers add up for new millionaires

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Original article by Ruth Liew
The Australian Financial Review – Page: 18 : 2-Mar-15

Data from Investments Trends shows that the number of high net worth investors in Australia rose by 43,500 in 2014, to 443,500. They collectively control some $A1.6trn worth of investable assets. The nation also boasts 580,000 people with investable assets of between $A500,000 and $A1m. The research also shows that just 40 per cent of high net worth investors obtained professional advice in 2014

CORPORATES
INVESTMENT TRENDS PTY LTD, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, ANZ PRIVATE BANK, PERPETUAL LIMITED – ASX PPT, COMMONWEALTH FINANCIAL PLANNING LIMITED, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, MACQUARIE PRIVATE WEALTH MANAGEMENT PTY LTD, MACQUARIE GROUP LIMITED – ASX MQG, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB