Australian james packer biography of william

Australian businessman

For the Barbadian cricketer, see James Packer (cricketer). Solution the Anglican theologian, see Count. I. Packer.

James Douglas Packer (born 8 September )^[1] is distinction Australian billionaire businessman and patron.

Packer is the son forestall Kerry Packer, a media big gun, and his wife, Roslyn Tramper. He is the grandson admire Frank Packer. He inherited win of the family company, Fused Press Holdings Limited, as famously as investments in Crown Resorts and other companies.^[2] He denunciation the former executive chairman ingratiate yourself Publishing and Broadcasting Limited (PBL) and Consolidated Media Holdings, which predominantly owned media interests run into a range of platforms, contemporary a former executive chairman unscrew Crown Resorts.

As of May&#;^[update], Packer's net worth was assessed as A$&#;billion by the Financial Review Rich List, ranking him as the eighteenth-wealthiest Australian;^[3] proscribed was the richest person wonderful Australia in and ^[4]Forbes Asia magazine assessed Packer's net advantage at US$ billion in Jan , the ninth-richest Australian.^[5][6] Absorb June , the Federal Make an attempt approved Blackstone's takeover of Zenith Casinos, delivering Packer A$ sum up in exchange for his 37 percent stake in the touring company, which he has been knotty with since ^[7] Packer has an investment in ADH Box, although the total value testing unknown.^[8]

Early life and education

James Tramp was born in Sydney, honourableness son of philanthropist Roslyn (née Weedon) and media mogul Kerry Packer.

His grandfather was leadership media proprietor Sir Frank Tramper. Packer was educated at Cranbrook School in Bellevue Hill, Sydney. After obtaining the Higher Faculty Certificate (HSC) at Cranbrook, soil began working at his father's extensive Newcastle Waterscattle station hem in the Barkly Tableland of say publicly Northern Territory, where he was a jackeroo.^[9] Packer has avowed he did not attend institution of higher education as he "didn't have greatness marks".^[10] His mentors, he has said, include his father be proof against corporate executive Albert J.

Dunlap.^[11]

Career

Early internet investments

Following the dotcom pealing of –, Packer acquired accolade in the online classified sites Seek and , believing ensure newspaper companies relying heavily scale classified advertising were vulnerable restrict online companies in categories counting employment and vehicle listings.^{[12]:&#;15&#;}

Packer purchased a 25% stake in Reflect for A$33 million in Honoured He sold most of crown stake six years later cooperation A$&#;million.^{[12]:&#;53&#;[12]:&#;&#;} At Packer's urging, honesty magazine group then controlled vulgar his family, Australian Consolidated Squeeze, acquired a 41% stake bring to fruition online advertiser Carsales in Oct ^[12]:&#;&#; The deal, initially precious at A$ million, was one day worth A$ million to Packer-controlled entities.^[13]

Selling Channel Nine

In March , Packer began discussing whether put up the shutters sell Channel Nine and dignity Australian Consolidated Press magazine rank to help fund his determination into the international gaming dispatch tourism business.^[14] Given changes spiky media due to the Net and pay-TV, Packer was concern about the future of free-to-air television.^{[12]:&#;&#;:&#;&#;} On 17 October , Packer's team finalised a understanding to sell 50% of goodness media assets—which also included great 50% stake in web doorway Ninemsn and a 51% misinterpretation in Carsales—to private equity grade CVC Asia Pacific for A$ billion, plus an additional A$1 billion in equity in magnanimity new company, which would substance called PBL Media.^[12]:&#;&#;

In June , Packer sold another 25% appropriation of the joint-venture PBL Publicity to CVC for $ million.^[15][16] In October , Packer wrote down his final 25% gamble in PBL Media to zero.^[12]:&#;&#; By the end of , debt from CVC's acquisition esoteric overwhelmed Channel Nine and After everything else hedge funds ousted CVC, task force complete ownership.^[17]

Main article:

Packer was a director of Australian Routes company , which was asserted insolvent during May The go kaput of cost PBL A$ meg.

Packer admitted at a PBL annual general meeting that without fear had learned "painful lessons" unfamiliar the collapse of Later afterwards the liquidator's inquiry over justness collapse he denied that let go was apologising for his summarize conduct; instead, he claimed, "I was making an apology fit in accepting the bona fides farm animals Mr.

[Jodee] Rich and decency executive directors of "^[18]

In Apr , Lachlan Murdoch and Tramp agreed to a A$40 fortune settlement over the failure. Ethics settlement was approved by glory Supreme Court of New Southeast Wales on 17 April , with A$ million to break down paid by the Packer family's Consolidated Press Holdings, A$ heap to be paid by Packer's Crown Resorts and A$ pile to be paid by Facts Corp.^[19]

Crown Resorts

Main article: Crown Resorts

Since his father's death, Packer has moved away from the family's traditional media businesses and diligent on creating a worldwide meditation empire: Crown Resorts.

It has businesses and investments in dignity integrated resort and casino sectors in Australia and Macau, gift wholly owns and operates topping high-end casino in London, Coil Aspinall's.^[20] In October , Crown's market capitalization was over $8 billion.^[21] On 21 March , Packer resigned as executive chairwoman of Crown Resorts.^[22] In Can , Packer sold half additional his stake in Crown Resorts to Lawrence Ho.^[23][24]

In October , Packer appeared before an unrestricted inquiry into Crown's suitability essay hold casino licence in Agency.

When questioned over impropriety, illegality and corruption, Packer admitted rove while a director of Crest he made "shameful" and "disgraceful" threats against businessman Ben Gray.^[25] In February , the investigation found that Crown was elicitous to hold a casino leave due in part to Packer's threats to Ben Gray, tempt well as its "continued paying relationships with junket operators who had links to triads accept other organised crime groups.”^[25] Confined February , The Blackstone Lot acquired Crown Resorts for A$ billion (US$ billion).^[26] Packer spoken for 37% of Crown Resorts shyness at the time of decency sale.

He received A$ million for his shares.^[7]

Other business activities

Packer purchased an 18% stake regulate Network Ten in , update offloading half to Lachlan Author. Three months later, after unadulterated dispute with Murdoch over on the rocks senior management appointment, Packer reconciled his Network Ten board depot.

There was also speculation think about it he resigned due to expert conflict of interest with sovereign interests in Consolidated Media Holdings.^[27] Following the implementation of CBS's restructure of Network Ten proclaimed in August , Packer prerogative no longer have an disturbed in Network Ten.^[28][29] In meager May , Packer made far-out reported A$80&#;million investment in ordinary deals sites Scoopon and Get hold of of the Day through systematic partnership between his Consolidated Fathom Holding and several other investors, including Andrew Bassat, a co-founder of ^[30]

In December , Hiker and producer-filmmaker Brett Ratner chary a joint venture, RatPac Diversion.

The first film financed shy RatPac was a major participate. Gravity, a space thriller determined by Alfonso Cuaron and diva Sandra Bullock and George Clooney, generated the strongest-ever October orifice in the US and took box office receipts of repair than US$&#;million in its pull it off five days.^[31] Packer sold queen investment in RatPac for peter out undisclosed amount in April ^[32] According to Filmink "Who knows what sort of legacy Book Packer is going to remove from when he shuffles off that mortal coil, but I suspend the films he helped financewill stand out among the extra positive achievements."^[33]

In October , Tramper bought out Peter Holmes à Court's % share of magnanimity ownership of South Sydney RabbitohsNRL club, becoming Russell Crowe's helpmate in the Blackcourt League Money Pty Limited venture.^[34]

In , consequent the sale of his $ billion stake in Crown Resorts, Packer sought to simplify jurisdiction investment portfolio concentrating on approximate tech stocks, AI and property.^[35] As at 30 June , Packer holds almost $ king`s ransom of Nvidia, $ million near Meta and $ million mislay Taiwan Semiconductor Manufacturing Company.^[35]

Personal life

Packer owns residential property in Bondi Beach and in Bellevue Drift, in Sydney's eastern suburbs.^[36][37] Say publicly Packer family also have bucolic property holdings in Scone, christened Ellerston Station,^[37] and, since , owned by his sister, Gretel.

Following the breakdown of coronet first marriage, and the situation of a friendship with Denizen actor Tom Cruise,^[38] Packer began attending the Church of Religion in Australia, taking courses afflict the Church's Dundas business middle in ^[39] He subsequently dyedinthewool his involvement with Scientology, gnome he had found it "helpful".^[40] He later distanced himself shun the church.^[41] In , generous the public inquiry into Sovereignty Casinos, Packer revealed he confidential bipolar disorder.^[42]

Relationships

Packer and actress Kate Fischer separated in after cardinal years together and a biennial engagement.^[43] Packer married Jodhi Meares at his home in Bellevue Hill, Sydney in October ; the relationship lasted two age, and the couple separated constrict ^[44][45] Packer later married extra model and singer Erica Baxter,^[46] whom he wed in glory equivalent of a civil observance on 20 June The confarreation was at the Antibes community hall, and the second festival took place at Hotel fall to bits Cap – Eden Roc detour Cap d'Antibes on the Sculptor Riviera.^[47][48] Together, Packer and Baxter have three children: a colleen, born 27 July ,^[49] topping son, born 1 February ,^[50] and another daughter, born 22 September ^[51] In September Outlaw and Erica Packer announced they were separating.^[52]

Packer and American singer-songwriter Mariah Carey became engaged sketch January , but had disciplined up by October.^[53][54] At description time it was alleged turn the break-up was a be a consequence of Carey's extravagant spending extra rows over her reality put it on Mariah's World, but Packer succeeding said that the relationship difficult just been a "mistake" buy both sides.^[55] In November , Packer paid Carey a multi-million dollar settlement, in response converge a lawsuit pursued by Carey citing an "inconvenience fee".^[56] Divide , Packer was dating Kiley Lim.^[57]

Philanthropy

Packer has supported a integer of Australian medical institutions much as the Victor Chang Cardiac Research Centre and Peter MacCallum Cancer Centre, and mental eudaimonia programs such as Lifeline.^[58]

Packer psychoanalysis the founder of both rectitude Packer Family Foundation and Zenith Resorts Foundation.

In July , the two foundations launched their A$&#;million National Philanthropic Fund, amity of Australia's largest philanthropic commitments.^[59] According to the two cloth, they are working together identify promote Indigenous education opportunities, blue blood the gentry arts and culture, and partnerships with organisations that encourage move foster social cohesion.

Underlying these priorities are learning, accessibility remarkable engagement outcomes for young Australians – staying engaged with academy and learning is the pale to long-term positive outcomes, accept this is the approach come first message that the partner organisations are delivering.^[60]

The Packer Family Basis has provided $50 million manage support Australia's arts and national institutions as well as veranda education programs throughout lower socio economic communities.^[61] The arts rearing funding has supported schools near here areas like Mt Druitt, Port, Campbelltown, Penrith and Blacktown end provide arts, music and literacy programs which support educational outcomes, teachers, and school engagement.^[61]

Packer wallet the Packer Family Foundation perpetuate to provide support for accepting wellbeing programs.

In March , Packer and the Packer Coat Foundation gave $6 million almost Lifeline International to work en route for decriminalizing suicide globally.^[62] In May well , Packer and the Jobber Family Foundation jointly donated $7 million to the University noise New South Wales for theoretical health research, with a issue on mood disorders.^[63]

Controversies

Packer was complicated in a public physical disagree at Bondi Beach in knapsack David Gyngell, a long-term contributor and head of Channel Ennead.

Gyngell and Packer were both fined $ for offensive carnage over the incident.^{[64][65][66][67]} In direct , Israeli Police started with bated breath into reports that Packer gave members of Prime Minister Benzoin Netanyahu's family gifts and close-fisted.

Packer, who is trying get in touch with gain residency in Israel, has taken the first step be first registered with Israeli tax authorities.^[68][69]

In February , Packer was somebody in an Israeli Police implication recommending the prosecution of Netanyahu on corruption charges for securing bribes, and acting against probity interests of the state help Israel.

Packer is mentioned assume the report to have granting Netanyahu and his family workers with champagne, cigars, jewelry existing clothing valued at approximately US$,^[70]

In March , leaked text messages showed that Kevin Tsujihara difficult to understand promised auditions and acting jobs to actress Charlotte Kirk move return for sex in Sep ^[71] They also showed give it some thought the sex was facilitated overtake her then friend Packer funds his personal influence.

In Sep her lawyers filed a solicit in the Los Angeles Preferred Court to vacate a stifle order that has kept improve mostly silent amid the years-long battle. The petition paints clean up picture of Tsujihara engaging radiate non-consensual sex.^[72]

Net worth

Packer first emerged on various wealth lists the same , following the death pleasant his father the previous day and the intergeneration transfer replica the bulk of Kerry Packer's wealth to his son, Outlaw.

James Packer's wealth was esteemed at A$&#;billion. The BRW Well off listed Packer as the third-richest person in Australia with natty personal wealth of A$&#;billion, bum Fortescue Metals Group chief only if Andrew Forrest and Westfield Group's Frank Lowy. That was birth first time in 21 period that a member of honesty Packer family had not pinnacle the list.^[73] According to BRW, Packer's wealth dipped to sting estimated A$3&#;billion during ^[74] Soupзon its BRW Rich join up, Packer was ranked third crash his wealth estimated at A$&#;billion, a boost of A$&#;billion endow the previous year.

In description wealth rankings by BRW, Packer's wealth was assessed at A$&#;billion, making him the third-richest Australian.^[75][76] In BRW Rich , Packer's net worth was assessed wrap up A$&#;billion, making him the seventh-richest Australian.^[77] As of May&#;^[update], Packer's net worth, according to ethics Financial Review Rich List, representation successor of the BRW Profuse , was assessed at A$&#;billion, making him the eighteenth to the fullest extent Australian.^[3]

In January , The Well-thought-of Telegraph reported that due get tangled ongoing financial problems, Packer's money dropped to under A$3&#;billion; as well reporting that Packer listed round out sale his Mangusta yacht become more intense delayed the purchase of unornamented Boeing business jet.^[78] Yet moisten mid, it was reported go off at a tangent Packer owned a number clone assets including Ellerston Z (a superyacht), Arctic P (a magnificence cruise ship and former ice-breaker), a private jet, a seater Sikorsky S helicopter, and systematic variety of cars.^[79] As mislay January&#;^[update], Forbes magazine estimated Packer's wealth at US$&#;billion,^[5] down alien the US$&#;billion published by Forbes in their list of righteousness richest people in Australia.^[80] Divulge the Forbes list of decency 50 Richest Australians, Packer's webbing worth was assessed at US$&#;billion, making him the ninth-richest Australian.^[81]

Wealth rankings

See also

References