A flurry of stock market floats have lined the pockets of Australia’s wealthiest bosses with an extra $1.8 billion over the last 12 months.
The profits flowing from IPOs have changed the nature of the BRW Rich Bosses list. In Australia, $26 billion was raised in equity through 74 floats in 2014.
At the head of the list of 100 is Crown Resorts executive chairman James Packer whose wealth, as measured only from his shares in the casino and resort company, reached $4.3 billion.
That figure is down 20% from a year ago, but is still well ahead of TPG Telecom chairman David Teoh in second place with $2.73 billion. He is one of the biggest movers on the list with TPG shares up 68% since the 2014 list was published.
Fund manager Kerr Neilson, the CEO of Platinum Asset Management, is third with $2.55 billion worth of shares.
News Corporation chairman Rupert Murdoch is in fourth place with $1.64 billion but that number only accounts for his shares in News Corporation. Last year Murdoch was number one the list with $12.61 billion. News is still listed on the ASX but Twenty-First Century Fox, of which he is also chairman, was de-listed from the ASX in May 2014 so his wealth from that isn’t counted.
Fifth on the list is Seven chairman Kerry Stokes with $1.48 billion.
The list of newcomers is led by Beacon Lighting executive chairman Ian Robinson at 14th with $232 million. Beacon shares have trebled in value since it listed on the ASX on April 15 last year.
Gerry Harvey’s shares in his Harvey Norman, of which he is executive chairman, are up 43.6% to $1.46 billion to place him in sixth.
The BRW Rich Bosses list is drawn from Australia’s top 500 ASX-listed companies, ranking Australia’s 100 wealthiest directors and managers as measured by the value of the shareholdings in the companies they work for. The executives are ranked according to the value of their holding of ordinary shares on April 1.
See the full list HERE.