Triguboff

<html><body>
Packaging and recycling tycoon Anthony Pratt has displaced Harry Triguboff as Australia’s wealthiest person, topping the Financial Review Rich List with $12.60 billion in wealth.
This is the highest wealth value Pratt has ever had. His Visy cardboard box manufacturing and recycling business dominates Australia, but his rising wealth is mainly due to the huge growth of Pratt Industries in the United States, according to a media release.
Pratt was #2 on the Rich List in 2016 behind Triguboff, Australia’s largest apartment developer.
Triguboff, the owner and head of property developer Meriton Group, topped the BRW Rich 200 list for the <a href="https://www.urban.com.au/news/54064-meriton-chief-harry-triguboff-tops-brw-rich-list-for-the-first-time" target="_blank">first time in 2016</a> after having appeared in all 33 editions in its history.
He displaced mining tycoon Gina Rinehart from a year earlier.
Triguboff’s fortune was listed at $10.62 billion in last year’s list - and at over $11 billion reputedly this year. 
The full 2017 Rich List, which puts out the country's wealthiest 200 individuals, comes out on Friday when Property Observer will publish Harry Triguboff's latest estimated fortune.
Pratt was last #1 on the list of Australia’s 200 wealthiest people in 2009, months after his father Richard Pratt died.
Pratt, who is executive chairman of Pratt Industries and the cardboard box and recycling giant Visy in Australia, took over the US business in 1991.
The business has grown rapidly in the past decade, helped by a surge in sales of recycled cardboard boxes and contracts with American corporate giants such as Amazon and Home Depot, which sells 1 million Pratt-made packing and storage boxes each week.  The business now employs 7,000 people.
Pratt now spends more time in Australia, where his sisters Heloise Pratt and Fiona Geminder also have an ownership stake in Visy.
</body></html>

jonathanchancellor-7SQnKwU6yx

Packaging magnate Anthony Pratt displaces Harry Triguboff for top spot on Financial Review Rich List

<html><body>
The billionaire apartment developer Harry Triguboff has almost doubled his lending to apartment buyers following restrictions from Australian banks and China’s crackdown on money flowing out of the country.
The Meriton Group's mortgage book is $50 million up over the past four months to about $120 million, Triguboff told The Australian.
“I don’t want to be a banker, but I have to be one if our banks won’t lend,” he said.
“There was a shock when they (buyers) expected to borrow and couldn’t. But now they are organised, finding money from other sources, perhaps some from offshore banks.”
Australia’s richest man lent as much as $600 million 15 years ago on the back of restrictive credit conditions to secure his apartment sales.
Meriton will build about 2000 units this year.
It advised prices for its apartments dropped around 5 per cent since last year’s market peak, after Chinese buyers withdrew.
But prices had now stabilised, Mr Triguboff said. Rents had remained firm, he noted.
“Our prices (average for a two-bedroom unit) are down to $950,000,” he said. “It was over a million.”
Last week Meriton unveiled the first in what will be a series of buildings in its intended $1 billion community in the heart of Rosebery.
Stage one, two buildings up to 7-storeys housing 187 apartments, has been given the Mint name, a name inspired by the iconic Minties lollies which were made on the site a century ago.
</body></html>

jchancellor-FAypfDUnLy

Harry Triguboff's Meriton lending to secure apartment buyers

<html><body>
Harry Triguboff sat down last weekend with his family with the much touted sale of the Meriton empire now off the agenda.
The Australian's Turi Condon reported the conversation ended his flirtation with selling to the Chinese in a deal potentially worth $12 billion.
It will instead now see his grandchildren eventually taking over the apartment building empire.
“I told them to do what they like,” the 82-year-old advised.
“I built it for me. If a dynasty comes of it, so much the better.”
Triguboff says daughter Sharon’s sons Daniel, 24, and Ariel Hendler, 22, are interested in the development side, while his other daughter Orna and her daughter Ella Lizor prefer the investment arm.
Triguboff told The Australian: “They said they want to continue the business.”
</body></html>

Triguboff

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News

Triguboff

Editor's Picks

Receive the latest news stories to your inbox

Have something to contribute?

Developments

New apartments

New townhouses

News