Inside Nathan Tinkler's fading fortune

IT'S been a spectacular rise and fall for mining magnate Nathan Tinkler. So just how did he lose more than half his fortune in a year?

IT'S been a spectacular rise and fall for mining magnate Nathan Tinkler.

His fortune, which once put him at $1.13 billion on the BRW’s Young Rich List in 2011, has now plunged to below $400 million because of a fall in the value of his stake in Whitehaven Coal - a company he failed to take over in a $5 billion deal.

Tinkler’s valuation, which once included an array of privately-held assets in addition to his stakes in public companies, has now become pretty simple.

His mountain of debt all comes down to his 21 per cent stake in Whitehaven Coal - with a gross value of approx $630 million.  The rest - the horses, the sporting teams, including the Knights and Jets - isn’t worth worrying about.

But it's Tinkler's next move that has pundits talking. The $400 million "remnants" of his fortune should give him a bit of wriggle room for the time being - but the queue of creditors lining up at his door is getting longer by the day.

As reported on this website today, Tinkler is believed to have fallen behind in paying salaries of players and staff involved with the Newcastle Knights.

Building Maker is also believed to be owed $17 million over a property deal while Blackwood Corporation is owed almost $30 million over a promised share sale.

Timeline: Tinkler's chequered sporting history