Friday, December 28, 2007

James Packer: Not Australia’s Richest Man anymore.

I regret not having reporting on James Packer before. Of all the richest men of a specific country, Australia’s former Richest Man used to be one of my favourites. Just look at this guy: If you see him, you would think he’s the bodyguard to a billionaire, not one himself.

James Packer inherited his roughly $5 Billion fortune from his father, Kerry Packer who passed away in 2005. In Aussie Billionaire-style, the Packer empire comprises of a media and entertainment empire. James took over from his father and become one of the youngest billionaires in the world. He recently made headlines with allegations of acts fraud in his company, but direct links to him and his management was never proven.

Today James Packer has his sights squared on Las Vegas and Macau (China’s Las Vegas). He was reported to looking at buying a $1.8 Billion stake in one of the Vegas Strip’s most popular Casinos.

But… today the news came that Andrew Forrest (left), billionaire founder of Fortesque Metals Group Ltd have been reported to pass Packer as the Land Down-Under’s Richest Man. According to a West-Australian Newspaper, gains in Fortesque’s stock has yet again proved that Metals and Resource owning Billionaires are laughing harder to the bank than the Entertainment/ Internet/ Software Billionaires. Case in point: 2007 has been a great year for Lakshmi Mittal (Steel) and Carlos Slim (Mexican Resources and Telecommunication). Both Billionaires have made huge gains on traditional Richest men like Warren Buffett and Bill Gates.

11 comments:

caine dean said...

A lot in fact. I've met dozens and dozens of wannabe marketers out there who are incredibly smart. They know about all the latest products, who everyone, is and what everyone does. But they aren't making a dime online.
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Anonymous said...

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Flüge Lima said...

it is so amazing, what you can do when you have enough money!

Brazil Property said...

Agreed to you on the fact that resource based business are going well and up as compared to media and IT except Telecom, growing at fantastic speed.

Natal property said...

Hi,

I think he uses his resources and become the billionaire of the world.

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