Skip to navigationSkip to contentSkip to footerHelp using this website - Accessibility statement
Advertisement

Rich families

Yesterday

Here’s how succession planning works at Patek Philippe

The president of the Geneva-based family company, Thierry Stern, and his son Adrien chat exclusively with Life & Leisure.

  • Bani McSpedden

This Month

While some assets are easy to value, others can be more subjective and require the specialist skills of a forensic accountant.

‘So many zeros’: Why wealthy divorces are so complex

At the centre of every split is the question of how to divide assets. But the more money that is involved, the more complicated the task tends to be.

  • Michelle Bowes
A selfie by Apple Martin, with mother Gwyneth Paltrow, wearing the Valentino gown for “Le Bal des Debutantes”.

Apple Martin and the strange enduring spectacle of debutante balls

The daughter of Gwyneth Paltrow and Coldplay’s Chris Martin was “presented to society” in a tradition that’s morphed with the changing nature of wealth and power.

  • Rachel Tashjian
A bobblehead of Warren Buffet displayed at Berkshire Hathaway’s AGM in May this year.

Five tips from Buffett worth more than his wealth advice

As the billionaire investor gets deeper into his 90s, he is passing on tips about how to have a good life (as well as good investments).

  • Beth Kowitt

November

UBS sees a big opportunity in the growing number of wealthy women in Australia.

Rich women top UBS wish list as it targets $46b in Australia

The bank is returning to wealth management Down Under after it exited almost a decade ago, tapping the Credit Suisse franchise it bought to make a renewed charge.

  • Updated
  • Harry Brumpton
Advertisement
Laurence Escalante built Virtual Gaming Worlds into a multibillion-dollar business.

Laurence Escalante’s VGW bulks up exec ranks as casinos bristle

Virtual Gaming Worlds was one of the early beneficiaries of a US legislative loophole in states where gambling is otherwise banned. It’s now under attack.

  • Primrose Riordan and Zoe Samios
Owen Hereford is determined to raise his three daughters Grace, Elizabeth and Bella without a sense of entitlement.

Signs you’re raising entitled brats (and how to avoid it)

Keeping children grounded and helping them understand the value of money is a perennial problem for wealthy parents. This dad reckons he has the answers.

  • Michelle Bowes
Colette and Charles Assaf have built a network of childcare centres based on the Montessori method.

Montessori Academy childcare founders reclaim control

Street Talk wouldn’t be surprised to see bankers add Montessori Academy to their list of IPO prospects as 95 per cent of the business transfers to the founders.

  • Sarah Thompson, Kanika Sood and Emma Rapaport
Escala has been hit by a spate of departures amid concerns over its pay structure.

Case closed: Escala loses bid to restrict defecting partners

Paul Sealey and Jonathan Vickers‑Willis defected to rival LGT Crestone in 2023 amid a spate of departures.

  • Sarah Thompson, Kanika Sood and Emma Rapaport
Hudson House has views of Sydney Harbour and the Royal Botanic Garden Sydney.

Hoteliers lodge at Hudson House, headquarters of the very rich

The Australian Hotel Association has outbid four prominent families to secure a third floor at the exclusive home of Australia’s richest family offices.

  • Campbell Kwan

October

I know more about the kids than their parents do and am closer to them.

I’m paid $99,170 as a nanny – the kids like me more than their parents

My employers tend to work in high-powered finance jobs. The money and lifestyle may seem envious, but they are never there for their children.

  • MaryLou Costa
One thousand people joined the ranks of the ultra high net worth.

Inside the portfolios of the nation’s 690,000 rich investors

An extra 55,000 people joined the ranks of the high net worth investors this year, bringing the total number of rich Australians to 690,000. This is what their portfolios look like.

  • Michelle Bowes
UBS has re-entered Australian private banking through its acquisition of Credit Suisse.

What about me? UBS, Credit Suisse tech integration misfires with advisers

Street Talk understands wealth advisers are fired up about a global edict that will keep them wedded to the Credit Suisse platform.

  • Sarah Thompson, Kanika Sood and Emma Rapaport

September

Gold Dinner chairwoman Monica Saunders-Weinberg and her husband and committee member Richard Weinberg.

How the wealthy daughters of Westfield co-founder John Saunders invest

Previously unreported filings for Terrace Tower, owned by the late businessman’s family, reveal assets worth $1.85 billion. But it has been a bumpy two years.

  • Primrose Riordan and Ronald Mizen
Kerry Stokes, Lindsay Fox, Monica Saunders-Weinberg, Betty Saunders-Klimenko and Imelda Roche.

Rich Lister wealth secrets revealed after 30-year loophole ends

Two years after removing an exemption that allowed Australia’s richest families to keep details of their private companies secret, their financials are filtering through.

  • Ronald Mizen and Tom McIlroy
Advertisement
Students practise carrying plates in The International Butler Academy in Valkenburg, the Netherlands

Downton Abbey but with NDAs: how to be a butler to the super-rich

At an elite academy in the Netherlands, the archaic art of buttling is being reinvented for the 21st century.

  • Will Coldwell
Edward Kovalik, centre, the CEO of Prairie Operating Co, and his team ring the Nasdaq bell in March.

Former La Trobe boss eyes next fortune – as US oil and gas baron

Two years after leaving the company his father founded, Greg O’Neill has emerged as a big shareholder in group that has secured leases out from under Chevron.

  • Joshua Peach
Private wealth sits within Macquarie’s banking and financial services.

Macquarie vets CommBank’s ultra-high-net-worth advice business

Street Talk understands Macquarie is circling the disenfranchised group and seeking meetings with management.

  • Sarah Thompson, Kanika Sood and Emma Rapaport

July

Nicolas Puech and a horse.

He planned to give $20b to his gardener. Now he’s lost it all

Nicolas Puech was already an outcast in the $237 billion Hermes family. But what happened to his billions of dollars in shares is a mystery.

  • Tara Patel
Sam Hupert of Pro Medicus says a lack of debt has been an important part of the company’s success.

The secrets to becoming a rich boss

There are good reasons why tech companies dominate this year’s Rich Bosses list.

  • Patrick Durkin and Sally Patten