Anthony Pratt (businessman)
|Born||Anthony Joseph Pratt
1960 (age 54–55)
|Residence||Melbourne, Australia and
|Alma mater||Monash University|
Board member of
|Children||Leon and Lilly|
Anthony Joseph Pratt (born 1960), an Australian businessman and billionaire, is the Chairman and CEO of Pratt Industries and Global Chairman of Visy Industries, the world’s largest privately owned packaging and paper company.
According to the 2015 BRW Rich 200, Pratt and his family have a net worth of A$10.8 billion; the second richest in Australia. Meanwhile, Forbes Asia's list of Australia's 50 Richest People assessed Pratt's net worth in 2015 at US$3.5 billion; listing his sisters' wealth independently.
Pratt (a manufacturing magnate himself), is the son of former manufacturing magnate and President of the Carlton Football Club Richard Pratt, who founded VISY and his wife philanthropist Jeanne Pratt AC.
Background and career
Pratt was born in Melbourne, Victoria to Richard Pratt and Jeanne Pratt AC. He graduated from Monash University, Melbourne, with a Bachelor of Economics (Hons) in 1982 and joined the consulting firm of McKinsey & Co, before joining Visy as Joint General Manager of Visy Board.
In 1988, he became Deputy Chairman of Pratt Industries. Three years later, he moved to the United States to lead the company's expansion there. Over the next 15 years, Pratt Industries grew 15-fold in sales and earnings, through greenfield initiatives and the acquisition of several corrugated manufacturing companies that now form the heart of Pratt Industries. Company revenues grew from US$100 million in 1991; and by 2013 revenue was US$1.5 billion. During that same period, Pratt Industries grew from the 46th largest corrugated box producer in the U.S. to the 5th largest. It is the only major paper company that is 100 percent recycled. Pratt now employs more than 4000 workers at its mills and box plants throughout USA – more Americans than any other Australian company.
In addition, Pratt's Visy employs 5000 people in Australia. The number of U.S. employees is set to grow in the wake of the 2013 announcement that Pratt would begin construction of a fourth, 100-percent recycled-paper mill near Chicago in 2014.
Although Pratt remains Chairman of the American arm of the family’s packaging empire, he returned to Australia to take over as Executive Chairman of Visy following the 2009 death of his father, Richard. Visy's corporate reputation index ranking went from #43 to #3 between 2009 and 2011.
Pratt sits on the National Board of the Muhammad Ali Center in Louisville, Kentucky, and is also active in numerous charity organizations throughout Australia and the United States. In 1998, he arranged for Muhammad Ali to visit Australia for the Australian Football League grand final, as well as for a subsequent trip two years later. Pratt is a member of the Climate Group, an international environmental group founded by former British prime minister Tony Blair. He has been honoured for his efforts by Mikhail Gorbachev's Global Green USA and Ted Turner's Captain Planet Foundation. Pratt is a member of the United States Studies Centre at the University of Sydney.
In 2007, Pratt committed to former President Clinton’s Global Initiative to invest more than US$1 billion over the ensuing decade in recycling infrastructure and clean energy, citing recycling as an important but underestimated weapon in the fight against climate change, because landfills emit more greenhouse gases than all of global aviation. He fulfilled his pledge five years early. Pratt's investments included the construction of four clean energy plants around the world, which, combined, have reduced the company's carbon footprint by 250,000 short tons (230,000 t) a year. In 2009, Pratt was honored by the New York-based Foreign Policy Association, with its Corporate and Social Responsibility Award. In 2010, the American Australian Association honored him at its annual benefit gala, for enhancing the Australian-American relationship. On a video played that night and later posted on YouTube entitled "Anthony Pratt Visy Video", many business, sports and political leaders including Rupert Murdoch, Muhammad Ali and President George H. W. Bush spoke of Pratt’s achievements in the USA.
Since returning to Australia in 2009, Pratt has taken a strong interest in sustainable agriculture, food security, and water issues, stating frequently that his motivation is that 70% of his Australian customers are in the food and beverage sector.
In April 2013, Pratt gave the keynote address at the Global Food Forum, an international conference on food security he organized in partnership with The Australian newspaper. He said it was possible for Australia to sustainably quadruple its current food production, through greater support for farmers and food companies, and to eventually feed 200 million people. The conference attracted leading political, agribusiness, food-industry, and academic figures. Pratt also supports the work of Outcomes Australia, an organisation chaired by former Governor-General Michael Jeffery, which promotes the regeneration of Australian landscape and soils.
In September 2013, Pratt was elected an executive member of the Australia-Japan Business Cooperation Committee, a group dedicated for more than 50 years to strengthening ties between the two countries. In October 2013, Prime Minister Tony Abbott invited Pratt on an official visit to Indonesia – the first overseas trip by the incoming leader. Later that month Pratt announced that former advisor to President Obama and the outgoing US Ambassador to Australia Jeffrey Bleich would join the Pratt Group advisory board.
Pratt first appeared on the BRW Rich 200 in 2009, following the death of his father earlier that year. He debuted as the richest person in Australia with a net worth of A$4.3 billion. In subsequent years, his wealth has risen; however, those with interests in the rapidly growing Australian resources sector have come to dominate the list. Since 2009, the BRW Rich 200 and the Forbes Asia list of Australia's 50 Richest People generally assessed Pratt's net worth on a similar basis, aggregated with his family. However, in 2015 Forbes reported the wealth of Pratt separate to the net worth of his two sisters, Fiona Geminder and Heloise Waislitz, reflecting in a sharp decline in his assessed personal wealth and creating a disparity between the BRW and Forbes lists.
Australia's 50 Richest
|Rank||Net worth (AUD)||Rank||Net worth (USD)|
|2011||4||$5.18 billion||7||$2.70 billion|
|2012||5||$5.45 billion||7||$3.40 billion|
|2013||4||$5.95 billion||7||$4.50 billion|
|2014||2||$7.64 billion||2||$7.00 billion|
|2015||2||$7.64 billion||7||$3.50 billion|
|Has not changed from the previous year|
|Has increased from the previous year|
|Has decreased from the previous year|
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- "Australia’s 50 Richest People: #7 Anthony Pratt". Forbes Asia. March 2015. Retrieved 11 June 2015.
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- Australian Financial Review, 16 April 2011
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- ["http://www.epa.gov/climatechange/ghgemissions/global.html" "Global Greenhouse Gas Emissions Data"], United States Environmental Protection Agency
- "Aviation and Climate Change" (PDF), United States Government Accountability Office
- Commitment Search: Recycling is an Important Weapon against Climate Change, 2007
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