High stakes: 10 billionaires who hold their wealth in ASX listed companies
Gerry Harvey (left) and Solomon Lew (right). Source: Harvey Norman/AAP. Compared to the UK and the US, Australia has an unusually large number of billionaires who hold the majority of their wealth in public companies listed on the ASX. After 50 years of wheeling and dealing, Kerry Stokes is near the top of the pile given that his 58.5% stake in Seven Group Holdings is now worth $4.59 billion. The Australian’s Rich List valued him at $7.26 billion earlier this year. Stokes is unique in many respects, particularly given that he was an orphan whose wealth is entirely self made. He’s also t...
Source: smartcompany.com.au