Anthony Pratt’s $469m payday from Trump victory
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Anthony Pratt’s $469m payday from Trump victory
So far, one of Australia’s biggest winners from the re-election of Donald Trump is Anthony Pratt.
The billionaire’s wealth jumped by $US311 million ($469 million) in the day since Trump was returned as president-elect, according to the live wealth tracking data in Bloomberg’s billionaires index.
Donald Trump and Anthony Pratt in 2019. Alex Ellinghausen
While that may not be surprising given Pratt has extensive paper-making operations in the US and a longstanding relationship with Trump – as explained here by US correspondent Matt Cranston – the main reason will have been a surge in the value of his holdings as US markets rejoiced in Trump’s election.
Gina Rinehart, on the other hand, who is also a strong supporter of Trump and was alongside him at Mar-a-Lago for his election victory party, has not benefited at all.
Her wealth plunged by $US403 million ($608 million) in a day as the price of iron ore fell. That was the worst of any of the 12 Australasian billionaires ranked by Bloomberg. Andrew Forrest and his family took a similarly hefty $US301 million hit. Luckily for them both, iron ore has since rebounded so they may not be out of pocket for long.
Former Liberal Party vice president Teena McQueen, Australian mining magnate Gina Rinehart and the leader of the conservative UK Reform party, Nigel Farage, at Donald Trump’s election watch party.
The others to make money include tech bros Scott Farquhar (up $US228 million) and Mike Cannon-Brookes ($220 million). New Zealand’s Graeme Hart is now $US207 million richer and Frank Lowy is $US25 million better off.
The performance of the local billionaires was nothing compared with the world’s 10 riches people, however. Their net worth jumped by $64 billion in a day. Elon Musk led the way with a 10 per cent jump in his net worth to $290 billion.
Of the 10 riches, only LVMH’s Bernard Arnault saw a drop in his net worth, a drop of 1.6 per cent.
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