One of Western Australia’s wealthiest people, Alan Tribe, is poised to rejoin the ranks of the richest 200 Australians, driven by a stellar performance from a listed biotech stock that’s edging closer to a $1 billion valuation.
Mr Tribe is best known as the former owner of the IKEA franchises in Western Australia and South Australia, which he sold to IKEA Retail Australia in 2017. But, it is biotech stock PYC Therapeutics that will soon make up the largest share of his net worth.
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Yolanda Redrup is the editor of the AFR Rich List. She previously reported on technology, healthcare and Street Talk. Connect with Yolanda on Twitter. Email Yolanda at yolanda.redrup@afr.com
