Business

May 25, 2006

The CRW (Crikey Revised Wealth) Rich List

For many years people have remarked how inaccurate the BRW Rich List is so we have instigated a Crikey Revised Wealth (CRW) Rich List to reveal the wealthy Australians BRW overlooked.

Andrew Abercrombie: the founder and controlling shareholder of the recently listed financial provider Flexigroup controls a stake worth $177 million.

William Adams: Largest shareholder in Tattersall's and direct descendant of founder George Adams's brother. Stake worth more than $120 million, but has received at least $20 million in distributions since lucrative Victorian pokies licence issued in 1991.

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.

Ahrens family: With the steel industry booming, this 100-year-old Adelaide-based family company is thriving through its engineering and steel fabrication business that employs 200 staff.

Ray Allsop: Has developed dozens of townhouses and high rise residential buildings on the Gold Coast. Also married to a Smorgon.

Andrews family: Big players in the Sydney meat industry and now major exporters, as you can see from their website here. Also have a large but little known Sydney property portfolio.

David Archer: Formerly the major shareholder in Savage Resources, a stake left to him by his stepfather. Also made a pile in technology companies, not to mention the sale of his stepfather's property at Point Piper for about $12 million. Divides his time between the town house in London, the magnificent chateau in France and the award-winning Archer House at Whale Beach.

David Baffsky: Westpac dropped plenty on his various hotel interests 15 years ago, but he has bounced back and is a big player in property and still chairs Accor Asia Pacific, the largest hotel manager in the Asia-Pacific. Was a profitable private property player with Wizard founder Mark Bouris in the early 1990s and a wizard tax lawyer with all sorts of interesting clients.

Tony Berg: Did 19 years with Macquarie Bank, the last nine as managing director before he took the top job at Boral, but failed to deliver. However, with an estimated $80 million with Grange Securities, the lad clearly made plenty from his Macquarie days and is still in the money with a portfolio of board interests, including a five-year stint with venture capital firm Gresham Partners.

Harry Barrett: Sydney bookie and car dealer who owns large tracts of Lennox Heads, just south of Byron Bay. Car dealerships have a big presence on Parramatta Road and got lots of cred when he took on Kerry Packer on the race track. His miserable demeanour belies a huge wealth.

Bill Barry-Cotter: Former owner of boat building company Riviera. The guy is even mentioned in boating magazines as follows: "Owner, Bill Barry-Cotter, 61, is one of Australia's richest men and he believes that a business that invests in the right people at senior level is a business that will mature faster and return bigger dividends across the board. Becoming a boat building billionaire is within his sights, so Barry-Cotter himself has no intention of retiring from something he enjoys doing so much."

Bishop family: Brisbane-based owners of the Hardy Bros and Wallace Bishop jewellers, plus owns property in spades and plenty of other assets.

Sam Bombardier: An Italian Australian who by the 1980s had amassed a property portfolio of 135 commercial buildings and about 150 residential homes in Melbourne and Sydney, all of which he owned outright. These days he owns a large part of Brookvale, one of the main secondary industrial areas of Sydney. He lives in Beacon Hill.

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