We’re now pushing 30 names on the Crikey Revised Wealth list that have eluded BRW’s “definitive” Rich List – and we’ve only just started on the investment bankers, as you can see from today’s new names:

David Clarke:
Anyone who has been an executive director of Macquarie Bank for more
than 15 years is likely to be worth tens of millions of dollars, and
the bank’s founder and executive chairman is almost certain to be
pushing $200 million, although BRW doesn’t rate him. Clarke was
paid almost $10 million last year and has about the same tucked away in
his restricted profit share account. He owns more than $40 million
worth of Macquarie Bank shares with options over almost $10 million
more. Then there’s more than $3.5 million of investments in Macquarie
listed associated that are disclosed – but this guy would have been
profitably investing in the best of Macquarie’s deals for more than 20
years. Then you have more than $10 million worth of winery shares and
assets that are publicly known. In today’s dollars his salary alone
over 30 years would get him close to BRW’s $110 million cut-off.

Allan Moss:
Replaced Tony Berg as CEO of Macquarie a decade ago and is doing
equally well, having pocketed $18.5 million in salary last year alone.
Has made at least $20 million out of his shares and options over the
years and currently holds more than $10 million worth of equity in
Macquarie’s listed associates. Throw in almost $20 million in his
restricted profit share account and Moss, who is notoriously
tight-fisted, would exceed easily exceed $110 million.

Stan Quinlivan:
The owner of the Ocean Beach Hotel claimed it was worth in excess of
$60 million when the nearby Cottesloe Hotel in Perth’s swanky beachside
suburbs was acquired by Multiplex last year. Has diverse interests
including Skippers Transport, a major logistics operator in Perth and
Skippers Aviation, probably the only profitable airline operating in
WA. Took a strategic stake in Hazelton Airlines in 1997, became
Chairman with about 35%, then sold out in a bidding war between Qantas
and Ansett for terminal rights at Sydey airport. Finally extracted an
over the top price for shareholders about 2 weeks before Ansett
collapsed. Also owns about $20 million worth of prime grazing and
cropping land at Esperance – including “The Beef Machine.” Then there
is Gibsons & Patterson, a hospitality industry supplier,
distributor and agent. Racehorses are often a sure sign of wealth and
Stan is one of the biggest owners in WA, which is not surprising given
that he was a leading bookmaker and trainer in the 1970s.

Geoff Hazler: The QM Properties website
claims it is “one of Australia’s premier property developers,” and our
spy in Queensland claims the owner is worth more than $200 million.
Apart from the visibly apparent racehorses, we’re most of it sits in
discreet companies and trusts.

Clive Savage: Sold out of
Clive Peters for a zillion some years ago. Now trading in Queensland as
Clive Anthony and has some four stores would be giving Harvey Norman a
run for his money, particularly on the Gold Coast.

CRIKEY: Even BRW’s stablemate publication, The AFR Magazine,
has today questioned the accuracy of the Rich List when the following
appeared in a fascinating interview/profile of Greg Norman:

BRW estimates Norman’s fortune at $230
million, and he was the leading earner among sportspeople last year,
with $18 million, despite making just $30,000 playing golf. But that
figure doesn’t include the golf course design business, or the
Medallist deal or Greg Norman Estates. It is clear that Norman makes
significantly more than $18 million a year when all of Great White
Shark Enterprises are included. And his net worth is likely to be much
higher. But Norman is fiercely determined to make sure no one knows how
much he’s worth, or earns. “We’re doing all right,” he admits.

needs to know what I earn. A number came out the other day and my wife
asked ‘is that right?’. I said ‘just chuckle at it, just laugh’. They
can’t find out what’s going on in a private business. They can
speculate but there’s a Chinese wall that I’m hoping will stay up.”

This is great fun – and of course an important contribution to society – so keep the tips and insights coming to [email protected].