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Wealth Creators Wealth Creators • $1.4bn in dividends for Kerry Stokes, Andrew Forrest in past five years • Top 50 public company investors worth about $11 billion • Contractors, lithium miners performing well • Rod Jones hopeful on tech investments Healthy dividend in building wealth The five WA people with the largest holdings in listed companies have earned around $1.5 billion in dividends in the past five years, with Andrew Forrest and Kerry Stokes leading the way. Matt Mckenzie TRIPLING of the past five years (see One wealth creator Mr Ellison has rein- [email protected] Fortescue Metals table, page 23). ranking high on the list vested a portion of those @Matt_Mckenzie_ A Group’s dividend But despite the higher but receiving minimal gains, with about 30,000 this year to 45 cents dividend, Fortescue’s dividends is prospector shares bought through per share has produced share price dropped from Mark Creasy. MinRes’s plan in the past a near $500 million around $6 in November His shareholdings are two years. windfall for chairman last year to be $4.67 on worth about $530 mil- Mr Ellison has also Andrew Forrest. November 20, the cut-off lion, the bulk of which enjoyed a rapid capi- Mr Forrest controls date for compiling the are in gold and nickel tal gain via the MinRes a third of Fortescue 2017 BNiQ Search Engine miner Independence shares, with the value of through a range of vehi- Wealth Creators list (see Group, which acquired his portfolio more than cles, including Forrest page 26). Sirius Resources in 2015. tripling in the past two Family Investments As a result, Mr For- Mr Creasy had a 35 per years to be about $402 (Peepingee Trust), Tat- rest’s total wealth held cent stake in Sirius. million. tarang Investment Trust in publicly listed busi- Other investments Altogether, the nesses has fallen from include Sirius spin-off state’s 50 most suc- about $6.5 billion in 2016 S2 Resources, and a cessful wealth creators to be $4.9 billion this stake in Africa-focused have shareholdings % year. White Rivers Explora- worth about $11 billion Seven Group Hold- tion, which had been combined. ings executive chairman rumoured to be pursu- Big wins INCREASE55 IN VALUE OF Kerry Stokes, ranked ing an overseas stock KERRY STOKES’ HOLDINGS second, also earned a big exchange listing. Lithium miners and dividend, with a payment Of eight listed miners mining contractors IN ASX-LISTED ENTITIES of 41 cents a share across with Creasy backing were among the biggest (PAST 12 MONTHS) his 207 million shares, tracked by Business movers in 2017. worth about $85 million. News, only Independence Pilbara Minerals direc- Since 2013, Mr Stokes Group, which is in pro- tor Neil Biddle had the and Minderoo Group, has earned about $417 duction at multiple sites, highest portfolio growth which is associated with million in dividend pay- paid a dividend, with the of investors tracked Minderoo Foundation. ments from Seven Group. remainder focused on by BNiQ in the past 12 With just more than a Mr Stokes’ vehicles exploration and project months, with his shares billion shares under Mr include Australian Capi- development. in the soon-to-be lithium Forrest’s control, total tal Equity, North Ashby Mineral Resources miner and another busi- dividend payments to and Wroxby, the latter founder Chris Ellison ness, Spitfire Materials, Forrest-associated enti- of which holds a 19.8 per and Navitas founder rising 228 per cent. ties would have been cent stake in Capilano Rod Jones (see interview, Altura Mining director around $468 million Honey, worth about $32 page 24) are calculated Allan Buckler was a new this year, according to million. to have received about addition to the wealth research by Business His shares in ASX-listed $100 million in dividend creators list this year, News, up from $156 mil- companies are worth payments between them with shares of around lion in 2016. about $3 billion, and in the past five years, $78 million, bolstered by That brings Mr For- have increased around 55 although both compa- a trebling of that com- rest’s total dividend per cent in the past year nies had reinvestment pany’s stock price as it stream from the busi- thanks to a strong rally programs in place during ness to $984 million in by Seven Group. that time. Continues on page 4 2 | businessnews.com.au businessnews.com.au | 3 CHRIS ELLISON: Value of Mineral Resources shares up 21 per cent. Photo: Attila Csaszar 2 | businessnews.com.au businessnews.com.au | 3 ANDREW FORREST: Received dividends of $468m this year. Photos: Attila Csaszar Healthy dividend in building wealth From page 2 which moved from were appointed, a move and Southern Cross sold a million shares less than $2 this time that was cancelled Electrical Engineering in the business in late heads towards produc- last year to be $3.61 on after creditors received director Frank Tomasi November. tion of its lithium project November 20. payment. (up 51 per cent). That earned him in the Pilbara. Mr Fotios’s Galaxy Including Eastern Monadelphous manag- $19.2 million, while his Altura executive direc- shares were worth Goldfields, Mr Fotios’s ing director Rob Velletri remaining shares in tor Paul Mantell, with around $73 million, while total portfolio was worth benefitted from a big rise Monadelphous were holdings of $26 million, his stock in gold miner $125 million, about 30 per in that company’s share worth about $19.6 million also saw major growth Eastern Goldfields was cent more than this time price, with his holdings at the time of writing. this year and sits just valued at $45 million last year, and nearly 10 growing 61 per cent to It isn’t the first big inside the top 50. when it last traded. times its value two years $37 million. share sale by Mr Rubino. Mining entrepreneur That company has ago. John Rubino, who is In 2011, he sold a parcel Michael Fotios did very had a rollercoaster few Contractors with executive chairman at of a million shares in the well from his holdings months, however, with major growth included Monadelphous, would company for $21.5 million. in lithium miner Galaxy shares suspended in Ausdrill founder Ron have ordinarily qual- Business News esti- Resources, shares in August after liquidators Sayers (up 107 per cent) ified for the list but mates Mr Rubino would 4 | businessnews.com.au MICHAEL FOTIOS: Galaxy Resources shares now worth $73m. per cent to $144 million. Maya Glickman ($49 SEARCHENGINE Dividend payments to million). ...your key to WA business Mr Lennon would have Both share the value been worth around $17 of those holdings with million in the past five other parties. DIVIDEND PAYMENTS $m SHARES ON THE RISE – THIS YEAR – FIVE YEARS years. More women feature Neil Biddle 228% While a number of when including private Andrew Forrest 984 Fortescue Metals Group Ron Sayers 107% female directors have wealth, with Hancock roles at companies based Prospecting chairman Kerry Stokes 417 David Watson 97% Seven Group Holdings in Western Australia, Gina Rinehart worth Peter Cook 84% they are are not included about $10.4 billion, Chris Ellison 54 Mineral Resources Tony Lennon 64% on the list due to their according to the BRW Rod Jones Rob Velletri 61% non-resident status. rich list, and Bianca Navitas 45 Kerry Stokes 55% They include May Chee Rinehart worth $2 .7 Mark Creasy Kong, who is an alternate billion. 6 Independence Group Frank Tomasi 51% director of property Angela Bennett, the player United Overseas heiress to the Wright have additionally reaped the past five years. was another big winner Australia ($53 million), family fortune, was about $9.4 million in div- Land developer Peet in the past year, with his and Sky & Space Global reportedly worth about idend payments during chairman, Tony Lennon, shareholding growing 64 satellite mission analyst $1.8 billion. businessnews.com.au | 5 Tech next step for Jones post-Navitas Navitas boss Rod Jones talked to Business News about the next chapter for the $1.8 billion education provider he founded, and his hopes for the technology ventures he’s backing. Matt Mckenzie AVITAS boss The company is work- things that interest me, of the list of sectors ripe [email protected] Rod Jones may ing on production of a and I’m not the sort of for disruption. @Matt_Mckenzie_ Nbe preparing to new type of satellite dish person who can just go Rather than turning step aside from his role for the delivery of signals away and retire; I’d go education on its head, at the education provider from telecommunications nuts, I need things to do,” however, Mr Jones he founded in 1994, but he nodes to houses. Mr Jones said. believes changes in edu- has no shortage of pro- “It’s going to be a game “A few of the things cation would focus on jects lined up to occupy changer, I reckon,” he said. we’ve been doing have delivery platforms. his interest. “It can deliver data really been startups. Artificial intelligence Mr Jones is involved out at up to 10 gigabytes “If you can get a startup and virtual reality were in an array of businesses per second, over five working and working two opportunities, he outside Navitas, the kilometres.” well, through that you’re said. Perth-based education Such technology could adding value.” “It allows you to deliver services provider with work in a complementary Hoperidge chief invest- (education) anywhere in a $1.8 billion market fashion with the National ment officer Jon Biesse the world; to have virtual Broadband Network, serves as Mr Jones’ eyes classrooms where kids SEARCHENGINE given that model’s current in a number of companies can interact as if they ...your key to WA business reliance on copper wiring where Hoperidge has a were in a classroom or a ROD JONES – MAJOR INVESTMENTS from node to home.
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