We’ve had a look at the extremely profitable sale and break-up of AMP’s Stanbroke Pastoral business over the past two years and reckon there are three Queensland cattle families BRW have probably missed for their annual Rich List.
Today’s five new names for the Crikey Revised Wealth List edges us closer to the magical 100 mark but we’re still about 15 short and will need you to dig deep to get us across the line. Send all tips and corrections to [email protected] and check out what we’ve accumulated so far here.
Graham Acton: Controls the booming Acton Land & Cattle Company which shelled out $37 million to pick up the Carpentaria and Lyndhurst properties out of the Stanbroke Patoral empire break-up.
Burnett family: Queensland cattle family which owned 5% of the original consortium which bought Stanbroke Pastoral from AMP on the cheap for just $490 million and then parlayed some of those profits back into the purchase of the Frankfield property for $40 million.
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Rea family: Ralph, Wally and Beverley Rea together owned 10% of the consortium which bought Stanbroke Pastoral from AMP on the cheap for just $490 million and parlayed some of these profits into the purchase of properties to expand their Queensland cattle empire when Stanbroke was subsequently broken up.
Mark Davison: Queensland barrister who used to sit on the board of BRL Hardy and made a fortune when Constellation Brands took it over at $10 a share two years ago. He still owns other vineyarnds and supplies grapes to wine companies. Lives on a farm outside Nambour and drinks at the local pub.
George Falkiner: still owns about 60,000 acres of land, much carrying valuable cotton crops, in the Warren-Nyngan area of NSW as you can see here. George’s father was also George who owned Haddon Rig Merino Stud at Warren, NSW. Young George was born when his father was quite an old man, and a bit like young Warwick Fairfax he inherited Haddon Rig when he was still a very young child. They are related to the Falkiners who used to own Boonoke and Wanganella down around Jerilderie (which were later owned by Rupert Murdoch before he sold to the Bell brothers). Along with Haddon Rig those were, and still are, some of the most famous Merino studs in the country.