Yesterday
PE-backed student living developer Cedar Pacific hits fundraising trail
The Brisbane-based fund manager has hit the pavement to raise a $100 million-plus fund from wealthy families and investors.
This Month
Regal-backed Merricks delays redemptions from $1.2b flagship fund
The private credit firm has told investors it cannot meet requests until at least December, but is promoting loans as a “particularly attractive opportunity”.
The 10 wealthiest executives in the ASX 300 revealed
Healthcare and tech company bosses, including the co-founders of the ASX’s newest $30 billion company Pro Medicus, dominate the Rich Bosses list.
3 ways the tax system is stacked against the young (and 4 fixes)
As the federal government prepares to debate tax reform at a summit next month, we asked experts how to fix one big problem.
‘Vibrant, unforgettable’: Bond family pays tribute to late matriarch
The children of Eileen Bond, former wife of late West Australian businessman Alan Bond, say the 87-year-old matriarch “brought everyone along for the ride”.
Could you run a $300m business with your sister?
Amie and Belinda Lyone both wanted to take over the family firm from their beloved father, but he insisted only one could be chosen. This is what happened next.
June
Mike Cannon-Brookes loses two executives from private office Grok
The exits follow a tumultuous period for Cannon-Brookes, who recently launched legal action over another of his private entities.
Catalano’s ‘aggressive’ Byron Bay parking saga plays out on Facebook
Locals took to a Byron Bay community group page to vent about one of their many resident multimillionaires.
Billionaires Escalante and Arnaout taking liberties with ASIC
The Perth entrepreneur’s attempt to wrestle back total control of VGW should have been a bit more obvious were its disclosures made in time.
Escalante to buy out investors in his $3.2b online gambling giant
Billionaire Laurence Escalante already controls 70 per cent of Virtual Gaming Worlds, and last month told unhappy shareholders they should just sell out of the company.
May
You’re probably part of Australia’s new inheritocracy
A quarter of the Rich List derived their wealth from inheritance, reflecting a wider shift as Australians start to transfer a staggering $5.4 trillion to the next generation.
The disturbing things I learnt when my name appeared on the Rich List
When future Rich Lists are populated by beneficiaries rather than entrepreneurs, wealth inequality risks becoming a cancer on our egalitarian ethos.
In this hit show, the rich are miserable, flailing and depressed
In “Your Friends and Neighbours”, the world of the wealthy is a place where unhappiness is magnified and financial security is an illusion.
Gina Rinehart tips $4b into US shares – here’s what she’s buying
Australia’s richest person is going all in on the US, shrugging off concerns her political idol Donald Trump could spell disaster for the nation’s economy.
Meet the other Lew: Steven, who’s quietly built a $1b retail empire
Steven Lew, the youngest son of retail billionaire Solomon Lew, has built one of the nation’s largest homeware groups, and has international expansion plans.
Worried the kids will blow it all? This might help
Structured philanthropy, even at modest levels, can foster purpose, build family cohesion, and create real community outcomes.
April
Robyn Denholm’s ‘simply absurd’ family office legal fight
For someone who has made her career advising tech and telco companies, the Tesla chair is failing at trademark claims.
For one day a year this fund lets you invest like a family office
Limiting when you accept money seems a strange way for a fund to attract investment. But this private equity fund is also almost debt-free. What’s going on?
March
Why the Bendel case could lead to Division 7A’s long-overdue revamp
The big question is whether the government will apply another Band-aid solution or finally decide to simplify anti-avoidance laws.
What it takes to be in Australia’s top 1 per cent (in 6 charts)
Wondering how wealthy you are compared to your fellow Australians? Find out whether you rank in the top 25, 5 or 1 per cent.