FULL LIST: Meet the Gold Coast’s wealthiest people who are flying under the radar
Some of the city’s wealthiest people – influencers included – never shy away from flaunting their riches. Others prefer to keep their dealings under wrap. But who are they?
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IT seems the Glitter Strip is littered with the rich and famous these days – many of whom have made their eye-watering fortunes working as an influencer.
While there’s plenty of Gold Coasters keen to flaunt their riches, there’s also a crop of wealthy folk who prefer to keep their dealings under wraps.
These lesser known, homegrown rich listers have built their empires off the back of hard work in a variety of industries, be it childcare, construction, real estate or as a lawyer.
Take a look at some of the city’s wealthiest people who have for a long time managed to fly under the radar:
Glenn Molloy, PPK Group Executive Director
As owner of the most expensive riverfront house in Paradise Waters street Commodore Drive, Glenn Molloy has had a cracking 12 months with one of his investments.
The market value of the 66-year-old’s holding in the listed PPK group, at $62 million a year ago, has rocketed to $270 million. He is reportedly the largest shareholder in the company.
His shares in the ASX-listed group, which is in partnership with Deakin University to commercialise the uni’s boron nitride nanotube technology, have raced from $4.30 to $20.
According to ASX, he currently holds position as executive director with PPK – a farm and heavy construction machinery manufacturer – taking home an annual earnings of $270,000.
Mr Molloy was appointed to the role September 2009 following the retirement former managing director David Hoff.
In January 2020, he unveiled plans for apartments he says will be “five-star plus” on a near $7 million site overlooking the Broadwater at Runaway Bay.
Theodore Vairaktaris, Usher Group founder
In his early 20s, Gold Coast man Theodore Vairaktaris was on track to become an architect before decided to instead become a tradie.
It was in 2001 that he started his own business UHK Painting and Decorating.
He acquired small entity Usher and Sons Painting Contractors from the Usher Family three years later — success quickly followed, becoming a million-dollar business in the first year.
The group has since evolved into a massive operation that employs more than 500 staff — 11 of them family members — and turns over an eye-watering $83 million per year.
Usher Group is now considered one of Australia’s largest commercial painting and associated services companies and has been contracted to major retailers Supré and Telstra.
Alan Thiess
The son of construction and mining pioneer Sir Leslie Thiess has lived his years in luxury thanks to the wealth his father amassed during his career.
Sir Leslie Thiess, hailed as the father of Queensland’s coal industry and lauded for forging important business bonds between Australia and Japan, died in 1992 aged 83.
Mr Thiess offloaded a tri-level mansion along ‘Millionaires Row’ on Hedges Ave that once sat at No. 43 and was recorded to be the highest-priced house on the Coast in the early 2000s.
It was sold prior to auction for more than $10 million in November 2002.
More recently in 2018, he purchased riverfront property in New Farm, Brisbane for $3.9 million in a reported move to downsize.
Peter and Deidre Mitchell, Mitchell Services owners
This husband and wife duo famously had less than $200 to their name after buying a second-hand rig for $11,500 in 1969.
Peter and Deirdre first started drilling for water and, later, were on the ground at the start of the coal seam gas industry.
These days – 52 years later – the company is considered one of Australia’s leading global providers to the mining, exploration and energy industries.
Mr and Mrs Mitchell, who had also shared in the $142 million profit from the sale of the Millennium Mine in 2005, retired after selling the Australian operations in 2008.
Their son Nathan is now the sole owner and CEO of the Mitchell Group which has global interests in port developments and coal-to-energy projects.
The pair once spent $17 million on the unfinished surfside mansion previously owned by failed internet tycoon Daniel Tzvetkoff and also own two other Hedges Ave properties.
Dr Thomas Challenger, Medcall Founder
Dr Challenger established Medcall – a bulk-billing after-hours medical service that makes house calls – in 2000 after his grandfather died late at night.
Since then, the company has become a crucial community service, employing about 50 doctors to make home calls between Beenleigh and Coolangatta.
Real estate records show his father George Thomas Challenger nabbed a Hedges Ave property for $5.4 million in 2011. Dr Challenger was living in the same property when he was set upon by a group of thugs in 2015 in which the doctor was assaulted and robbed.
The high profile doctor also used the pandemic to try improve global healthcare services with the creation of a new cost-effective $300 ventilator.
The former Gold Coast Citizen of the Year began working on the low-cost ventilator after witnessing the shortage of $25,000-50,000 machines worldwide.
The ventilators, used in intensive care units, give COVID-19 patients time to fight the disease by keeping them breathing.
Luke Henderson and Andrew Henderson, Real estate agents
You would be pressed to find other real estate agents who know Mermaid Beach better or have given more to the community than the Henderson brothers.
Luke and Andrew’s father established John Henderson Professionals Mermaid Beach in 1972 and since then the family has donated more than $1 million to Mermaid Beach Surf Life Saving Club, Nobby Beach Surf Life Saving Club and Miami Beach Surf Life Saving Club.
Today Andrew is principal of the agency, while also holding the position of REIQ Gold Coast zone chairman while Luke is director and auctioneer.
Luke’s popularity in Mermaid Beach has seen him dubbed the unofficial mayor of the area.
The brothers have enjoyed a significant boost in business in recent months as the city’s property market continues to boom and sale prices soar.
When it came to auctions they recorded consistently high clearance rates.
Darryl Kelly, Gold Coast Titans co-owner
The co-owner of the Gold Coast Titans NRL club last year looked to offload a shopping centre in his hometown of Wagga Wagga for more than $45m.
It comes after Mr Kelly – a former owner of the same club – once again returned to the seat alongside ex-chair Rebecca Frizellel in 2017 as the team’s new owners.
The pair were in a two-way battle with Stuart McAuliffe for the keys to the NRL- owned club in a sale that has been a drawn-out process.
Three years prior, Kelly, 70, lost more than $5m in his first investment in 2012 amid the club’s collapse and has in total pledged $35m to ensure the club’s long-term survival in a challenging market.
Mr Kelly, along with car dealership king Brett Frizelle, also purchased all the remaining waterfront land in Sunland Development Group’s central Gold Coast project The Lanes for $32.75m.
Steve and Tracey Marais, Condev Construction owners
The husband and wife team have enjoyed great success within The Glitter Strip’s construction industry since launching Condev in 2002.
In recent years, however, the couple prepared to step back and focus on strategy in an attempt to bolster the company’s efforts in the highly competitive industry.
As result, an advisory board was formed to review its succession planning.
Robina-based Condev undertakes commercial and residential projects in the $1 million to $35 million range and employs more than 100 staff.
Previous projects under the banner include James Frizelle’s Isuzu dealership at Gaven, the Gold Coast 2018 Commonwealth Games head office at Ashmore and multi-unit developments for Robina Land Corporation.
In 2017 the company also completed the $80-million Harbour Quays residential aged-care facility in Biggera Waters.
Bruce Coulson, Kool Kids founder
He is the brains behind a childcare empire and he’s got the wealth to prove it.
Brian Coulson, now owner of Kool Beanz, recently partnered with Gold Coast Suns to develop a new $10 million childcare facility at Metricon Stadium.
The facility is due to open mid-2022 and create about 45 jobs.
Mr Coulson and wife Carolyne last year offloaded their sprawling Isle of Capri compound for a whopping $27 million.
The man who founded and later sold the Kool Kids early-learning centre chain earlier this year splashed $4.75m to expand his property holding on a plum Southport corner.
He purchased the two-title long-time home of an up-market furniture business on the high-exposure corner of Ferry Rd and Queen St.
The site adjoins the Southport campus for his Kool Kids training college for childcare staff.
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Originally published as FULL LIST: Meet the Gold Coast’s wealthiest people who are flying under the radar
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