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    Rich families

    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
    Working from home meant the number of people using parents to care for their children has fallen.

    ‘It’s insane’: The secret world of tutors to the super-rich

    For the children of the ultra-rich, education involves family tutors who fly with them around the world, with the best tutors earning $500,000 salaries.

    • Mattie Brignal
    Prime Minister Keir Starmer has promised to increase inheritance taxes on foreigners living in Britain.

    Britain’s ultra-rich ‘non-doms’ prepare to flee Labour tax rise

    Living in the UK but not legally domiciled, they pay more than £8 billion in taxes a year, and now Keir Starmer’s new government plans to increase their levies.

    • Ben Stupples
    The Australian dollar jumped after the greenback weakened.

    Australia will have 400,000 new millionaires by 2028

    Buoyed by property and super, Australians have become the second-richest people in the world, on paper at least.

    • Lucy Dean
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    Colette Assaf and Charles Assaf  have built a network of childcare centres based on the Montessori method. Now, their daughter Mary Assaf and future son-in-law Christopher Omeissah are taking the approach to aged and disability care.

    The education method that’s made this family millions

    When Charles and Colette Assaf bought a Montessori childcare business in 2000, the IT entrepreneur never expected it would become his family’s future.

    • Yolanda Redrup

    June

    An artist’s impression of the Forrest-backed plans for a boutique hotel at Cottesloe Beach in Perth.

    Forrests’ beachfront hotel plan dumped by council

    Plans by billionaires Andrew and Nicola Forrest for a boutique four-storey hotel near the beachside home they once shared have been rejected by a local council.

    • Brad Thompson
    Justin Levis.

    Collapsed Dion Lee owes $20m to Levis family’s Cue

    An entity linked to Cue extended $20.3 million in working capital and funding since January 2022, making it Dion Lee’s number one creditor ahead of the Commonwealth Bank.

    • Vesna Poljak and Carrie LaFrenz
    University of Sydney student Abby Bonic lived in a residential college for three years in order to have an authentic uni experience.

    Why parents are forking out $40k for their kids to live on campus

    Residential colleges used to be the preserve of country boarders and blue-blood families, but there’s a growing trend among parents who want their kids to have the kind of university experience they had.

    • Michelle Bowes
    AFR

    Nine tips for creating a successful family dynasty

    Most dreams of creating a family dynasty are dashed within decades but a solid succession plan can save money and grief.

    • Duncan Hughes

    May

    How the Turner women are creating a legacy beyond Flight Centre

    Graham Turner may have turned Flight Centre into a household name, but wife Jude and daughter Jo have a different approach to business.

    • Yolanda Redrup

    What Rich Listers think about money – and what they teach their kids

    Nine of Australia’s wealthiest people reflect on their journey with money and whether material success leads to a rich life.

    • Michael Bailey, Lauren Sams and Yolanda Redrup

    Inside the great Rich List wealth transfer

    Control of vast business empires is passing to a new generation, forcing families to confront the hard questions around succession planning. Of the 200 richest Australians, 45 are over 80 and control $136.1 billion.

    • Yolanda Redrup
    There are 635,000 rich Australians, representing around 2.5 per cent of the total population.

    There are 635,000 rich Australians. Are you one of them?

    Once, being a millionaire made you wealthy. But the goal posts have shifted, and a two-storey house with in-ground pool doesn’t really cut it any more.

    • Michelle Bowes
    Dennis Bastasis, the owner of Arrotex Pharma, has recruited Adam Gregory to run the family office.

    From Sali to Bastas – billionaires’ adviser Adam Gregory jumps ship

    Gregory’s remit will be to assist with capital planning and hunting down acquisition opportunities at DBG, which also includes other businesses like VidaCorp.

    • Sarah Thompson, Kanika Sood and Emma Rapaport
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    Laurence Escalante on one of his boats in Perth.

    Gambling mogul lists superyacht at $10m, starts retailing supercars

    A spokesman for Laurence Escalante’s private office said the sales were part of a new business venture.

    • Primrose Riordan
    Charlotte Tilbury is one of the brands under the Puig family brand.

    The Spanish family who netted $18.5b from a beauty IPO

    Members of the Puig family, who made their fortune in perfume and cosmetics, are billions of dollars richer after Europe’s biggest listing this year.

    • Ben Stupples and Clara Hernanz Lizarraga

    April

    Goldman Sachs’ headquarters in New York. The investment banking giant has made a concerted push into private wealth in Australia.

    Goldman eyes local banking licence to grow ultrarich lending business

    The Wall Street investment banking giant has made no secret of its desire to expand its private wealth division. There are limits on what it can do.

    • Primrose Riordan
    Assistant Treasurer Stephen Jones is already under fire over other errors contained in the bills.

    Labor ‘hot mess’ financial advice laws will drive up costs

    A group representing financial advisers, stockbrokers, accountants superannuation trustees and investors said Stephen Jones proposals will drive up costs.

    • Ronald Mizen

    March

    The Wu family had sold a large stake in Nature’s Care to interests ultimately controlled by the Chinese government.

    She made $600m selling fish oil. Now Jina Chen wants her company back

    One of the country’s wealthiest immigrant families has pitted itself against investment funds controlled by Beijing in a fight over the future of Nature’s Care.

    • Aaron Patrick