The Crikey Revised Wealth (CRW) list has finally cracked the magical 100 mark after these two new entries today:
Inge Family: Macquarie Bank has recently bought 49% of the Zig Inge
retirement village group for $100 million which would suggest they do pass the $110
million cut-off that BRW imposes.
Barry Lambert: founder and managing director of Count Financial
Limited which is the third biggest group distributing
financial products (after AMP and PIS) in Australia. This is done
predominately through accountants. Barry and his wife own 89 million
shares, which at today’s market price of $1.75, gives them a stake
worth $155 million. The three children and mother own nearly 20 million
shares independently of Barry. Last year’s dividend was 4.5 cents a
share and the guidance for this year is 5.5 cents. Count are the
masters of commissions and effectively the biggest client of BT and
Colonial so the company tends to be able get deals that other financial planning/advice organisations can’t even attempt.
Also, we were the first to outline the wealth of Sydney doctor Joe Ross with this CRW entry:
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Dr Joseph Ross: A major provider of joint-venture funds for the
Gold Coast property industry, this Sydney-based investor owned 50% of
the Chevron Renaissance building in Surfers Paradise, which we
understand was sold for $60m-plus last year. Owns 8.9 million shares in
CVC Ltd (which had the other 50% of the Renaissance – and they booked a
$10m profit on their share of the sale). Also uses a company called LJK
Nominees to hold shares, and has been or is a top 20 shareholder in
Computershare, Commander Communications, Prime Infastructure, Macquarie
Leisure, Gazal and Powerlan. Through LJK Nominees he was one of the
Babcock & Brown “foundation” shareholders, with some 2.8 million
shares now worth $30 million.
The lad has been receiving some unwanted attention from The Australian’s Michael West, who produced this fascinating story about his links with Babcock & Brown on Saturday. Surely ASIC is taking more than a passing interest.
If you’ve got any other names for the CRW that BRW has missed, drop us a line on [email protected]