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Passion or Practicality - Property the investment sector of choice for Rich Listers

People & Companies / Latest News


Oct 24 2018

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2003 when the BRW young rich list started it was peppered with entertainers, these days, the property and technology booms have long since swept the entertainers aside. Few actors and sports stars are able to keep up with the fortunes made by developers – be they in the business of developing software, apps or high-rise apartments.

Young BRW rich-lister Jimmy Spithill, 39, is the youngest athlete ever to win the America's Cup – as helmsman and skipper of the BMW Oracle Racing 90 team in 2010 and again for Oracle Team USA in 2013.

Spithill owns multiple residences as well as commercial and residential property investments worldwide, with a five-bedroom Bermuda villa which is on the market for $US8.5 million ($12 million).

"I'm a huge fan of real estate," he says. "From a kid labouring on building sites in the holidays with my father, I really appreciated what it meant by adding value. I haven't done much in stocks. To be quite honest, I don't understand it enough and can't give it the time. I've always liked the fact that with property, you can see it." He told the AFR.

His aggressiveness on the water is not reflected in his approach to investing "because I know how hard it is to make a dollar. I'm more about the long-term approach now that I've got a family."

Harry TriguboffHui Wing Mau Frank Lowy dominate the top five in the Aussie BRW Rich List with fortunes built in real estate and a combined wealth of c. $30.28 billion. John Gandel is at number 7 with a net worth of $6.45b, Stan Perron ranked at 15 with a net wealth of $3.99b and Lang Walker is ranked 18th with a net wealth of $3.47b. 

Judith Neilson is ranked number 37 on the BRW rich list with a wealth of $1.34b. Her wealth originates from her shareholding in Platinum Asset Management, which manages more than $27 billion in global equities and listed on the ASX in 2007. Despite the source of her wealth, Neilson continues to passionately grow her vast and eclectic property holding in the gritty fringe suburb of Chippendale, which includes her own commanding personal residence, the White Rabbit Gallery which she originally acquired as an old knitting factory for $10m. She also built the William Smart designed Indigo Building, together with another bespoke landmark building just next door, named "Phoenix" and has plans for a family office close by. In addition, there is a c.10,000sqm state-of-the-art art storage room in Alexandria, all costing upwards of $110m.   

All images are of Indigo Slam and are by photographer David Roche.




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