Chris Ellison puts luxury yacht on market as Mineral Resources navigates stormy seas

Mineral Resources founder Chris Ellison has put his luxury yacht on the market as the fallout over his involvement in tax evasion and other scandals continues.

Mineral Resources founder Chris Ellison.

Embattled MinRes managing director Chris Ellison has put his privately owned super yacht up for sale as the fallout continues over his involvement in tax evasion and other scandals.

His misdeeds included ­having MinRes staff work on the M/Y Anya when MinRes was riding a wave of success propelled by its mining services, lithium and iron ore businesses.

The vessel cost its original owner Tim Roberts, one of Mr Ellison’s mates and a former MinRes director, about $30m when it was built in 2009.

Mr Roberts later took legal action against the shipbuilders, claiming the vessel had not lived up to his expectations. Under his ownership, it reportedly hosted celebrities like former movie star couple Tom Cruise and his then wife Katie Holmes, and 1980s rocker Billy Idol.

The twin-hulled Anya, currently docked at Fremantle, was fitted out with a helipad, two staterooms, two VIP suites, a saloon, dining room and jacuzzi in its heyday.

It is not clear what Mr Ellison paid for the vessel or the latest asking price.

The super yacht sale comes with Mr Ellison rapidly sliding down the rich list and caught up in an investigation by the Australian Securities & Investments Commission.

His 11.5 per cent stake in MinRes is still worth more than $550m at $24.17 a share, but a lot less than when the stock was nudging $80 last May.

Mr Ellison recently paid a $3.8m penalty to MinRes over some of the scandals and misuse of company resources, including for work on the Anya, and late last year sold a house in the Perth suburb of Mosman Park that formed part of the impressive compound where he lives.

He’s also handed over $5m to an unnamed charity and forfeited short and long-term performance incentives as part of his punishment at MinRes.

Mr Ellison is due to depart the company he co-founded, sometime before the end of April next year, despite a rearguard campaign from some shareholders for him to stay.

Speaking last week after the release of mid-year results that led to more questions from the ASX about MinRes disclosure standards, Mr Ellison tried to put a string of controversies behind him, including dubious third-party deals involving family members and friends.

“For me personally, the issues that we’ve faced over the past six months, we’re done on them, they are behind me, they’re behind the business, the board has provided clarity on the market where it stands, I don’t think we could be any more clearer,’’ he said.

Originally published as Chris Ellison puts luxury yacht on market as Mineral Resources navigates stormy seas