The inflow of names for the Crikey Revised Wealth (CRW) list is starting to slow as we bring the missing entries up to 40 with today’s five new names. We certainly don’t blindly accept every entry and didn’t buy the claim that Abe Saffron is worth more than $110 million. Given his penchant for defamation, the veteran Kings Cross identity might have sued us if we’d included him.
But today’s new names are very credible and one bloke we’ve discovered is even worth $9 billion. The only reason we can think he was omitted is petty media jealousies.
John Young: This one should have been a no brainer for BRW. The CEO of listed company Great Southern Plantations owns 54.87 million shares as you can see in part two of the annual report here. Given that the stock closed at $3.59 yesterday, this stake is worth $200 million. Then there was a tidy $2.14 million salary package last year.
Euan Murdoch: After outbidding John Howard’s former industry minister John Moore in paying $8.55 million for an historic homestead near Beaudesert in south-east Queensland on the weekend, questions should be asked as to why the lad is not on the Rich List given that he sold his Herron pharmaceutical business for $123 million last year.
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Rupert Murdoch: If Florida-based Greg Norman, Bermuda-based Reg Grundy and Monaco-based Ric Stowe are on the BRW Rich List, then we can’t understand why The Sun King is still not included as Australia’s richest man with a net worth of about $9 billion. News Corp may now be domiciled in Delaware and Rupert is an American citizen, but his shareholding in News Corp is housed within Australian-based vehicles and the majority of his extended family still lives in Australia.
Michael Maxwell: Manages the Australian and European real estate business for Babcock & Brown and holds 6.94 million shares worth $80 million. Also $2 million in front on the 2004 options issue and was paid $2.3 million in 2004. After 13 years at B&B, it is hard to believe the former Mallesons lawyer is not worth more than $110 million as people like him have been known to personally fund deals under $20 million which are regarded as too small for B&B.
Cripps family: Has the worldwide franchise for Velcro and is known to be exceedingly generous to Australian and international charities, donating most of its annual corporate earnings.
CRIKEY: Getting to 50 new names might be a stretch target as we’ll now have to dig a bit deeper for hidden gems. Therefore, the Crikey army is implored to delve into the leafy corners of Toorak and Point Piper for just a few more names. Confidentiality is assured when you email [email protected]