While Sydney’s super rich scramble to earn more, this Manly couple can’t give their cash away quick enough, writes Ben James
May is a big month for Australia’s super wealthy.
Because as the nights grow long the Financial Review publishes its annual Rich List. From their Vaucluse and Point Piper mansions our mining magnates and property tycoons eagerly search their names, checking to see where they’re placed and who they’ve overtaken.
But Manly’s Greg Poche and Kay Van Norton Poche couldn’t care less. Each year they slide further and further down the list with huge smiles on their faces as they do.
As ever since selling his logistics business Star Track Express for $750 million in 2003, Mr Poche and his wife have sought to give away millions upon millions to good causes.
Kay is now the driving force behind the couple’s philanthropy (which totals some $150m) after her husband suffered a number of strokes several years ago.
But who are they and what makes them so different from so many others of extreme wealth?
Greg, born in Marrickville, and Kay, Upstate New York, both come from humble stock.
For Kay, giving and generosity was drilled into her at an early age by her World War II veteran father.
“He was shot by a German sniper but came back and started his family for those who didn’t come back,” she said. “So there was always that sense of duty with my father. To give to community, to family, to country and to world. That’s what he taught us,” she said speaking for her Manly home.
“He didn’t have much but that didn’t matter, it was about giving what you could whether it was giving financially, spiritually or time, volunteering.
“When he finally retired he lived a very ordinary life. But he never felt it was ordinary, he felt it was exceptional and that was because of his giving and generosity.”
Greg set up his freight company in 1972 and was regarded as one of this country’s finest businessmen.
But he was never one for the limelight and when he sold his business in 2003 there was no fanfare.
He knew, despite effectively retiring, his biggest contribution to his country was yet to come.
“After the sale Greg and I looked at each other and we thought ‘oh my goodness this is 10 times over what we can spend in a lifetime, let’s give it away, let’s give it back to the country’,” Kay remembers.
It started with $40 million to kickstart the Melanoma Institute of Australia followed by tens of millions more to create the Poche Centres for Indigenous Health at universities around the country.
If there was a cause he believed in he wouldn’t think twice about handing over tens of millions at a time.
It’s said he was so impressed by plans for one of his centres on a visit to the University of Sydney he signed a cheque for $10m on the roof of his car.
Greg was happy to fly under the radar, he was not a man after recognition.
“We had to persuade him,” Kay said. “It was worth it because I believe with all my heart that Greg’s generosity 12 years ago has shown other high wealth individuals in Australia that it doesn’t hurt to give. If you can give, give.”
Kay says their lives changed from that moment and giving away their millions has filled them with a warmth and satisfaction that accumulating wealth never could.
“It’s awesome. It is the most fun you will ever have.
“And we started to meet all these amazing people. The doctors, researchers and Aboriginal leaders.
“Conversations around the kitchen table at night changed from ‘well how was your day dear and did you get that top at Sussans’ to ‘can you believe that drug that is going to come out.’”
Greg’s illness came at a time when he had so much left to give. But through all the sadness and suffering Kay knew she had to pick up the baton and run with it.
“We all suffer adversity in life but it is how you deal with that adversity.
“We don’t look at Greg’s illness as devastating or tragic. If we did we wouldn’t be able to go on. Life just changed and Greg is here and I get to tell him every day what a fantastic man he is.”
In recent years Kay has faced her own health issues and is now so more determined than ever to “make up for lost time”.
“You can’t tell me that this won’t make me well,” she adds. “People put us out there as being special and heroes. Greg and I really honestly don’t believe that. We just know we are doing the right thing.”
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