Big tech’s record year shifts Packer’s thinking on Meta and Amazon

James Packer in the grounds of his Beverly Hills home in California which he recently sold for $60m. Picture: Jeff Rayner

It was not too long ago that billionaire James Packer was telling our colleague, Damon Kitney, that 2024 was the best year he’d had for some time.

That was all thanks to some canny investments, including some big tech companies like Nvidia which surged in value.

So how is 2025 shaping up?

Well, we know Packer likely “lost a bit of money” on his 12-bedroom, 18-bathroom Beverley Hills mansion which he sold for $60m, as this publication reported in late April.

Packer could also be switching up his investment portfolio too, according to some documents that lobbed with the US regulator on Friday our time.

The latest filings for his Consolidated Press International Holdings entity for the March quarter show a couple of notable absences from what was in his basket of shares three months earlier.

Gone is Mark Zuckerberg’s Meta and also Amazon, headed by Jeff Bezos – both of which Packer has previously held pretty big holdings in, via CPI.

Nvidia is still there and CPI has a roughly $240m holding, while the biggest chunk of the portfolio is found in Taiwan Semiconductor Manufacturing Company. That one is worth about $520m.

Packer has put much of his investment strategy down to Canadian-born technology entrepreneur, artist, and poet Daniel Nadler, who has been focusing on companies he, according to Packer, believes “AI is going to affect most”.

Canadian e-commerce company Shopify is a new stock in the CPI portfolio, while there is also an increased shareholding in Block, of Jack Dorsey (and Nick Molnar) fame.

It may not contain all of Packer’s shareholding – he’s said he’s got $2bn across the CPH 2030 fund Nadler runs for him – but with roughly $850m invested, CPI gives a pretty decent insight into what Packer, who has become one of Australia’s biggest tech investors, is up to.