Kerr Neilson

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Kerr Neilson
Born circa 1950 (age 66–67)
Johannesburg, South Africa
Nationality
Occupation Investment manager
Known for Co-founder and managing director of Platinum Asset Management
Net worth
Spouse(s) Judith Neilson (m. ??; div. 2015)
Children
  • Paris Neilson
  • Beau Neilson

Kerr Neilson (born circa 1950), is an Australian investment manager, the co-founder and managing director of Platinum Asset Management.

Biography[edit]

Neilson started his financial management career in the investments department of Courtaulds in London.[3] After returning to South Africa in 1973, he moved to Australia ten years later as the head of retail funds management for Bankers Trust Australia (now BT Australia). Neilson established the Platinum Asset Management fund in 1994 with initial backing from George Soros.[4] Platinum specialises in international equities and has an estimated $US16 billion in funds under management.[5] Neilson is its managing director and portfolio manager.[6] In May 2007, Neilson floated 20 percent of Platinum Asset Management on the Australian Stock Exchange. The 57 percent of the company's shares he retained were valued at A$2.9 billion, making him one of Australia's richest people.[7]

Neilson is regularly likened to Warren Buffett for his ability to consistently select high-performing stocks.[8][7][9] However, poor results during the 2012 financial year resulted in a 16 per cent fall in net profit, mainly due to a 14 per cent reduction in investment income. As a result, Neilsen agreed to forego a performance bonus, an increase in his base salary, and neither granted himself nor exercised options. As the principal shareholder of Platinum, Neilsen yielded A$42 million in dividends during the 2012 financial year.[10]

Personal[edit]

Neilson and his former wife, Judith, have two children. In 2009, Kerr and Judith Neilson opened the White Rabbit Gallery in Sydney to share with the public their extensive collection of contemporary Chinese art.[11] Kerr and Judith Neilsen divorced in 2015.[12] Kerr has been listed on the BRW Rich 200 since 2011. Following his divorce, according to the BRW his net worth fell from A$3.35 billion to A$2 billion in 2015, and to A$1.95 billion in 2016.[13][1] Meanwhile, his former wife, Judith Neilsen debuted on the 2015 BRW Rich 200 with a net worth of A$1.55 billion in 2015,[14] and was assessed as having a net worth of A$1.45 billion in 2016.[1]

Kerr Neilson first appeared on the Forbes list of Australia's 50 Richest people in 2010 with a net worth of US$2.20 billion. In the latest list that was published in early 2016, following his divorce, Forbes assessed Neilson's net worth at US$1.85 billion.[2]

Wealth rankings[edit]

Year BRW
Rich 200
Forbes
Australia's 50 Richest
Rank Net worth (A$) Rank Net worth (US$)
2010[5] 6 Decrease $2.20 billion Increase
2011[15][16] $2.10 billion Increase 8 Decrease $2.40 billion Increase
2012[17][18] 14 Decrease $2.08 billion Decrease 10 Decrease $2.10 billion Decrease
2013[19][20] 13 Increase $2.43 billion Increase 9 Increase $2.50 billion Increase
2014[21][22] 10 Increase $3.35 billion Increase 10 Decrease $2.90 billion Increase
2015[13][23] 18 Decrease $2.00 billion Decrease 8 Increase $3.00 billion Increase
2016[1][2] 22 Decrease $1.95 billion Decrease 11 Decrease $1.85 billion Decrease
Legend
Icon Description
Steady Has not changed from the previous year
Increase Has increased from the previous year
Decrease Has decreased from the previous year

References[edit]

  1. ^ a b c d Stensholt, John, ed. (27 May 2016). "BRW Rich 200 List 2016". Financial Review. Australia. Retrieved 9 June 2016. 
  2. ^ a b c "2016 Australia's 50 Richest". Forbes Asia. January 2016. Retrieved 9 June 2016. 
  3. ^ "Portfolio Talk: Kerr Neilson". Good Returns NZ. New Zealand. 3 October 2002. Archived from the original on 19 July 2011. 
  4. ^ Myer, Rod (28 December 2003). "Taking a punt proves Platinum's mettle". The Age. Australia. 
  5. ^ a b "Australia's 40 Richest: #6 Kerr Neilson". Forbes Asia. 3 March 2010. Retrieved 18 June 2012. 
  6. ^ Blue, Tim; Korporaal, Glenda (26 May 2007). "Understated billionaire walks the talk". The Australian. 
  7. ^ a b Washington, Stuart (23 May 2007). "Meet the $2.9b Man of Platinum". The Sydney Morning Herald. Retrieved 18 June 2012. 
  8. ^ Schmidt, Lucinda (20 July 2009). "Profile Kerr Neilson". The Age. Australian. 
  9. ^ Robinson, Gwen (23 May 2007). "Australia's own 'Buffett' is platinum-plated". Financial Times: alphaville. 
  10. ^ Evans, Michael (17 August 2012). "Neilson axes bonus after hit at Platinum". The Sydney Morning Herald. Retrieved 1 September 2012. 
  11. ^ "White Rabbit Gallery" (streaming video). ABC Arts Online. Australia: ABC TV. 2 November 2009. Retrieved 18 June 2012. 
  12. ^ "Billionaire Kerr Neilson to hand over $3bn slice of empire to wife after messy divorce". The Sunday Telegraph. Australia. 10 May 2015. Retrieved 12 May 2015. 
  13. ^ a b "Rich 200: Kerr Neilson". BRW. May 2015. Retrieved 12 June 2015. 
  14. ^ "Rich 200: Judith Neilson". BRW. May 2015. Retrieved 12 June 2015. 
  15. ^ "Passport Power". BRW Rich 200 Wealth Index. Australia. 25 May 2011. Archived from the original on 10 November 2012. Retrieved 2 June 2012. 
  16. ^ "Australia's 40 Richest: #8 Kerr Neilson". Forbes Asia. 1 February 2011. Retrieved 18 June 2012. 
  17. ^ "Rich 200: Kerr Neilson". BRW. 24 May 2012. Retrieved 18 June 2012. 
  18. ^ "Australia's 40 Richest: #10 Kerr Neilson". Forbes Asia. 1 February 2012. Retrieved 18 June 2012. 
  19. ^ "Rich 200: Kerr Neilson". BRW. 22 May 2013. Retrieved 28 June 2013. 
  20. ^ "Gina Rinehart tops Forbes' Australian rich list". The Australian. AAP. 31 January 2013. Retrieved 12 June 2015. 
  21. ^ "Rich 200: Kerr Neilson". BRW. 27 June 2014. Retrieved 28 June 2014. 
  22. ^ Rollason, Adam (30 January 2014). "Rinehart on top, Palmer down on Forbes rich list". Financial Review. Australia. Retrieved 12 June 2015. 
  23. ^ "Australia’s 50 Richest People: #8 Kerr Neilson". Forbes. March 2015. Retrieved 12 June 2015. 

External links[edit]