RICH LIST

2013

WA’S

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6 GRAHAM HARDIELet’s charge our glasses for thewowsers.

14 DALE ALCOCKThere is more to this brickiethan a household name.

16 DIVIRGILIO FAMILYSeven brothers, 30 car yardsand a growing business.

25 CHIU CHI WENWen and the Art of Life CycleMaintenance.

26 HANCOCK HEIRSWho wants to be asquillionaire? They do.

30 FULL LISTWA’s 50 richest people

A winter gloom wasdescending when thisreporter dusted off thefiles and began numbercrunching for the 2013 edition ofWA’s Rich List. The resourcesboom was apparently ending,Kevin Rudd was kneecappingthe car industry and businessconfidence was shakier than theWA Government’s credit rating.

We need to go over some oldground to cover some big falls infortunes.

Through the gloom, itappeared nightclub ownerGraham Hardie could be thebiggest beneficiary of theNorthbridge Link project thanksto extensive holdings just northof the sinking railway line.Welcome to the Rich List, MrHardie.

Property mogul and PranicHealing practitioner Chiu ChiWen was left off the list in the

past because his Malaysia-basedmother had firm control offamily trusts. We now feelconfident to claim Mr Wen andhis family fortune for WA.

Our business connections hadasked why we did not includethe Cardaci family in previouseditions. Their Centurionempire plays a major role in theresources industry, and after adetailed examination, the familyenters the 2013 list high up.

Despite Mr Rudd’s efforts, wealso welcome the Divirgiliofamily, of DVG AutomotiveGroup fame.

Alan Bond’s son John Bond, apartner in the $1.5 billion-plusPrimewest property syndicationempire, looked set to returnthanks to new insight into theoperation and assets of Bondfamily trusts. His Primewestpartners David Schwartz andJim Litis were also candidates.

However, the market recoverysaw them pipped by establishedlist members Frank Tomasi,John Rubino and Ian Trahar.

We jokingly refer to thispublication as the ethnic socialpages. A weakness with listssuch as ours is that we estimate

wealth based on knownbusinesses, investments andwealth sources. This may createa bias where those who keepassets in direct family controlare more likely to have traceablefortunes. Read Europeanmigrants.

Then again the multi-ethnicnature of our list may just reflectwaves of smart, hard-workingmigrants who helped generatethis State’s post-war wealth.

There are many wealthyfamilies that have extensiveholdings hidden from publiceyes in trusts, propertysyndications, nomineecompanies and as minor stakesin major corporations.

Doric chief Harry Xydas dropsof the list of 50 this year, as doMineral Resources directorCharles Bass and Kimberleycattleman Stirling Buntine.

On behalf of one squillionairewho is sick of tax office auditorswaving this list in his face, I endwith a disclaimer: The list isbased on publicly availableinformation and estimates ofasset value. It is prepared withdiligence, but please don’t take itas the last word on where WA’swealth lies.Neale Prior, WA’s Rich List Editor

New starsshine ingloom

WA’s Rich List editor Neale Prior. Picture Dione Davidson

WA’s Rich ListOctober 24, 2013

Editor & research Neale PriorCover design Aaron MandoleneProduction Charmaine RappReporters Neale Prior, Ben Harvey, PeterKlinger, Sean Smith, Kim Macdonald, NickEvans, Natalie Brown, Kate Emery, PeterWilliams, Marissa LagueSources ASIC, Dun &Bradstreet/Company 360, IRESS,Bloomberg, Supreme Court, companywebsites

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WA’S RICH LIST 20134

Sixty years ago,Gianfranco Tomasicame to Australia as an11-year-old migrant whocouldn’t speak English.His many achievements since

then were recognised this yearwith an Order of Australia.

The recognition was forsignificant service to businessthrough leadership roles in theelectrical contracting industry,and to the community.

The founder of SouthernCross Electrical Engineeringhas given back to the industrywhich made him wealthy,helping found trainingorganisations and taking aleadership role in the peakindustry body.

Mr Tomasi is also renownedfor charitable donations,providing power and equipmentfor a remote school in oneAfrican country where SCEEoperates and doing the same fora hospital in another.

He is a long-time supporterand benefactor of the Telethon

Speech and Hearing Centre forChildren.

After starting his career withBHP and Transfield Services,the engineer went out on hisown in 1978. The company grewinto a global contractor.

He floated SCEE on the stockexchange in 2007, retaining a 40per cent stake that is now worthabout $70 million.

The company posted the bestfinancial results in its historythis year, with a 27 per centjump in profit to $17 million. MrTomasi’s share of the dividendpayout was $1.8 million.

Mr Tomasi is heavily investedin industrial properties,including SCEE’s Naval Basepremises. He owns the OceansEstate winery and Glenview beefcattle farm, both in Karridale.

At 71 he remains a keenbasketball player whoparticipated in the WorldMasters Games in Turin inAugust.

Frank TomasiIf there was ever a man thatembodied the supposedlyovernight success of the WAeconomy, it would be CalogeroGiovanni Battista Rubino.

He migrated to WA from Sicilyin 1966 unable to speak Englishbut blessed with a grasp ofcommerce, being raised in afamily with a deli and anagricultural business.

After starting his Australianworking life as a trade assistant,he grabbed an opportunity in1970 to become a sub-contractoron the Ord River dam project.

After the sharemarket crash of1987, Mr Rubino took charge ofcontracting groupMonadelphous and proceeded toturn a business which was onthe verge of collapse into a $2billion contracting giant.

He is quietly spoken, speakingwith an accent thick with hisItalians roots, but sharesbusiness wisdom that has servedWA success stories such as

Monadelphous and Wesfarmersso well — including surprisingon the upside.

“The boom happens, but youhave to be ready and prepared totake the benefit,” he said.

JohnRubino

$149 million

ENGINEERING, MININGSERVICES, PROPERTY

Monadelphous

$147 million

CONTRACTING,PROPERTY, WINE

Southern Cross ElectricalEngineering, Oceans

Estate

50

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The pubs were not the sourceof his wealth, however. Likemany others, he made hisfortune in property.

Mr Hardie, who lives inClaremont, has amassed aswathe of land in Northbridge,principally on Roe Street andJames Street. He owns land inLathlain and in the city andcounts the sprawling South

It’s logical to think thepuritan anti-drinking tidethat has swept throughNorthbridge in recent yearswould have dented the profitmargins of the entertainmentprecinct’s pubs and nightclubs.

But industry insiders say thatfor many of the area’s publicans,the police crackdown on bingedrinking has had the perverseeffect of bolstering the marginon every drink sold.

Two decades ago Northbridgewas awash with cheap liquor. Itwas possible for savvy drinkersto avoid putting their hands intheir pockets until well after10pm by moving from one happyhour to the next.

Bouncers were known to wearmouthguards on the job andofficers from the WA PoliceLiquor and Gaming squad, whonever paid for their drinks evenoutside happy hour, would haveno problem watching bar staffline up shooter after shooter forthe punters.

As the owner of some ofNorthbridge’s biggest and mostpopular venues in the 1990s —including drinking meccasHavanas and Arcadia —Graham Hardie moved morebooze on Friday and Saturdaynights than just about anyone inthe game. But only a fraction ofit was paid for at full rate.

That all changed when policebrokered the NorthbridgeAccord. This agreementamounted to the creation of alegal cartel. Publicans inNorthbridge were penalised ifthey competed on price.

The margins enjoyed by MrHardie and the small group ofpublicans who dominatedNorthbridge became veryhealthy.

Mr Hardie has enjoyedenviable cash flow through aseries of very successful pubsand nightclubs which he hasrun under the EntertainmentEnterprises umbrella withNorthbridge stalwart Bill Oddy.

It’s a fickle trade and, like allvenues, the popularity ofHavanas, on Lake Street, wanedand it was replaced by phoenixoperations. Havanas turned intoKremlin, then The Church andfinally The Library, whichtrades today.

James Street’s Varga Loungetraded side-by-side withParamount Nightclub. Years agohe added The Saint in Innaloo tohis empire before selling thebusiness, but not the land, toALH. He maintains an interestin suburban pubs throughRivervale’s Empire Bar.

Shore Centre on The Esplanadein South Perth as one of thejewels in his property empire.

For a man whose businessinterests have enjoyed such ahigh profile over so many years,Mr Hardie has maintained hisprivacy.

He declined to be interviewedfor this article.Ben Harvey

GrahamHardie

$160 million

NIGHTCLUBS,PROPERTY

Paramount, TheLibrary, Empire

Bar, South ShoreCentre,

properties inNorthbridge

If Kevin Rudd was right withhis 2007 claim that climatechange was the greatestmoral challenge of our time, anydecent businessman should bemaking himself as much a partof the cure as the cause.

On the carbon emissions side, Mr Trahar has become a niche player in the Australianaviation industry through his international and domestic charter jet operationRevesco Air.

Arguably the flagship isOprah Winfrey’s formerGulfstream IV-SP corporate jet,complete with a private sleepercabin for the discerningexecutive. He also boasts aGulfstream IV, BombardierChallenger, Cessna Citation andPhenom 100.

If you turn on a light or runan appliance through apowerboard, there is a chanceyou are using a productprovided by Arlec Australia.

His main listed vehicle iscarbon sequestration andaquaculture company CO2Group, which has developedemission offset packages forclients including Woodside,Qantas and the Sydney CityCouncil.

IanTrahar

$150 million

AVIATION,ELECTRICALEQUIPMENT,

CARBON CAPTURE,CO2 Group,

Arlec Australia,Revesco Aviation

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WA’S RICH LIST 20136

Graham Hardie outside his property in Northbridge, with an architect’sdrawing of its proposed redevelopment. Picture: Nic Ellis

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Steve Wyatt’s name is morelikely to appear in thesport pages of newspapersthan on the business pages.

His divisional managers atcontracting group MineralResources keep him out of thefinancial limelight but he iscatching plenty of eyes as anamateur racing car driver atBarbagallo Raceway andcircuits internationally.

With two Italian co-drivers, heraced his Ferrari to secondoverall and top of its class at theAsian Le Mans race in SouthKorea two months ago.

Mr Wyatt set up the businessCrushing Services Internationalwith Chris Ellison in the 1990sand this became part of theEllison-run Mineral Resourcesempire.

A sharemarket float in 2006has allowed Mr Wyatt toprogressively cash in someMinRes chips while enjoying a$850,000-plus annual packagerunning Crushing Services.

Boosted by some big sharesales in 2010 and 2011, he boastsa top-notch address after buyingAlan Bond’s former Dalkeithspread for $39 million.

Steve Wyatt

It is ironic that Julian Waltershould be a man with a loveof all things vintage, given heowes his fortune to anindustry that thrives on adesire for something new.

Long before Mr Walter wasflying a 1941 Stearman bi-planeacross Australia for fun orattending rallies in a 1921 RollsRoyce Silver Ghost he wasestablishing himself as one ofWA’s home building magnates.

Mr Walter’s rise began in 1983when he founded J-Corp Pty Ltd,ultimately growing it into adiversified housing businesswith annual turnover of close to$300 million in two decades.

At his side in the early dayswas business partner, LenBuckeridge and J-Corp becamearguably the dominant player inthe sector.

When the pair parted ways in2003 Mr Walter established JWHGroup.

He also launched defamationaction against his one-timepartner, claiming his reputationhad been damaged first by anitem in an internal BGC Groupnewsletter and later by

comments Mr Buckeridge madein The West Australian.

Mr Walter walked away fromthe legal battle in 2011.

In the meantime, JWH Grouphas become a major player andits brands include RuralBuilding Company, OswaldHomes and WA CountryBuilders.

In addition to indulging in hislove of vintage transport, MrWalter has a number ofphilanthropic interests.

These include a longassociation with Telethon andsupport for the Guide DogsAssociation and The BridgeProject.

Julian Walter$163 million

HOME BUILDING,FARMING,

LIVESTOCKBREEDINGJWH Group,

Plunkett, Cherylton,Constructive Media

This time last year, WA’s ironore barons watched astheir paper worth tumbledamid commodity price volatility.

If that was the story of 2012,this year it was the turn of goldcompany chiefs.

While Giorgetta-chaired RegisResources is still undoubtedlyone of WA’s quality gold stocks,falls in the gold price andrenewed investor focus onoperating costs at WA minersled to widespread falls in goldequities, and Regis was noexception.

The general malaise affectingthe gold sector was partly

exacerbated in Regis’ case byinitial difficulties in deliveringthe ramp-up of its Garden Wellmine, north of Laverton.

From a high of $5.755 lastNovember, Regis shares tumbledto below $3 in late June, staginga partial recovery since then.

But, with the companydeclaring a maiden dividend

this reporting season afterbooking a $145.7 million profitfor the year, Regis has cemented its place as a low-costproducer and a solid cashgenerator — a position that canonly enhance Mr Giorgetta’sreputation as one of the bestgold miners in the State’s recenthistory.

NickGiorgetta

This list is rich with peoplewho have thrived afterleaving Europe for a betterlife in Australia.

Yet the story of 83-year-oldHarry Hoffman transcends thehorrors of nazi Europe and hisloss of close family members inthe Holocaust.

The Auschwitz survivormigrated to Australia in 1949,eventually working in real estateand then setting up his propertydevelopment firm ArdrossEstates in 1996 with hisPerth-born wife Sylvia.

The fledgling companycompleted subdivisions inCockburn, Canning andMundaring. Ardross hasholdings in Cervantes andJurien Bay after being a major

player in Albany and Bunbury.Robbed of educational

opportunities, he has been amajor funder of arts, communitydevelopment and educationprojects, including Dianella’sCarmel School. The OrthodoxJewish school published a bookabout the benefactor’s life titledHate Never Sat at My Table.

After receiving an honorarydoctorate from Israel’s HebrewUniversity, where he hassponsored a leadership program,he gave an insight into hisapproach to business and life.

“I have personally strived tocontribute as much as I can tosociety and behave as a modelcitizen, adhering to learnings Iderived from my early childhoodJewish education,” he said.

46

$176 million

CONTRACTMINING

Crushing ServicesInternational,

Mineral Resources

$179 million

GOLD MINING,COMMERCIAL

PROPERTY, REAL

ESTATERegis Resources

$182 million

LAND INVESTMENT,DEVELOPMENT

Ardross Estates,Beachridge Estate,

Drover’s Retreat

Harry Hoffman

45

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WA’S RICH LIST 2013 9

It has been a long time sinceone could call PeterPrendiville simply a publican,a noble art learnt from hisfather Pat at the BalladoniaRoadhouse.

His business empire hasdeveloped and bought hotelsthroughout WA and across theother side of the country innorth Queensland.

He added the well-located, butrather tired Mangrove ResortHotel in Broome to his portfolioin April in a $7.3 million-plusdeal.

Mr Prendiville is intenselyprivate about his businessaffairs.

His highest-profile role hasbeen as chairman of TourismWA, recently criticising theState Government for breakingan election funding promise.

He argues tourism isimportant for employment andgrowth.

“It makes sense — the figuresall stack up,” he said.

Peter Prendiville

$193 million

LIQUOR, TOURISMGarrett Hospitality,

Cottesloe Beach Hotel,Sandalford Wines, Hotel

Rottnest, KarrathaInternational

This list prides itself onbeing conservative with itsestimates of wealth, but wemay be way too low here givenrecent events.

Mr Balzarini’s Wellard RuralExports business was hit by theformer Federal LaborGovernment’s confusedapproach to live animal exports,including the ban on cattleexports to Indonesia.

Prime Minister Tony Abbott’strip to Jakarta this month islikely to be the catalyst for morecattle exports, which couldprovide a big boost to MrBalzarini over the next year. Heis likely to benefit as a livestockowner, trader, exporter andshipper. His empire stretchesfrom WA, via Indonesia and theMiddle East, to his native Italy.

The trained naval architecthas a fleet of ships workingclosely with Wellard.

MauroBalzarini

$205 million

FARMING, LIVESTOCKEXPORTS

Wellard Rural Exports,Wellard Agri Farms,

Siba Ships

challenge to prove that I could doit, and now that I have, I’vemoved on to other challenges.

“Those challenges involveunderstanding the meaning oflife and I’m grateful that leavingbusiness has given me more timeto put into my family.”

The daughter of late MidlandBrick founder Ric New oncerevealed she had set a goal tomake it in business while in herteens, after she had beenoverlooked for a role in thefamily’s brick business becauseof her gender.

She said her father hadrespected her talents but hisrefusal to bring her into thefamily business came during anera when a woman’s place wasconsidered to be in the kitchen.

Ms New said she had never setout to make money, but somehowit found her.

Marylyn New isenjoying the simplelife after selling herhotel empire thisyear.Ms New sold the iconic

Esplanade Hotel to Perthproperty syndicator Primewestfor $88.5 million, settling thedeal in January.

A few months later shecompleted her exit from thehotel sector by selling EsplanadeRiver Suites in Como to Chineseinvestment group Narada for $31million.

After more than two decadesas a hands-on hotelier, she ishappy to enjoy a different pace.

“I have been pursuing myinterest in understanding themeaning of life,” she said.

While she was reticent todivulge exactly how she pursuesthis endeavour, she said it doesinvolve sitting on the balcony ather Cottesloe beachfront home.

She relished the opportunityto spend more time with herfour daughters and fivegrandchildren, and is lookingforward to a sixth grandchild.

“I live for people but I do notmiss being in business,” shesaid.

“I went into business as a

Her empire once skimmed$200 million in value, primarilybecause of her two hotels.

Her ambitious time at thehelm of the iconic Fremantlehotel included renovationswhich doubled its size.

Ms New has also spokenpreviously of her passion forsomething she calls “newableenergy”.

This goes beyond renewableenergies, such as solar power, toencapsulate new types ofscientific research usinggravitational and magneticfields.

Despite her extensive wealth,she has rallied against therampant consumerism insociety and the undue focus onpeople’s appearances.

She once called on the publicto go back to basics and toconnect with nature.

Her Marine Parade home is atribute to her greenconsciousness, with quadruplebrick walls used to cut coolingand heating costs.

It is a design that would makeher father proud, after his brickempire helped turn WA into thedouble-brick capital of theworld.Kim Macdonald

Marylyn New$186 million

PROPERTYCamellia Holdings,

MMAGS Holdings

42

40 41

WA’S RICH LIST 201310

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Geoff Prosser has builtand invested in thecommercial propertymarket in the SouthWest for most of hisworking life.

With a ringside seat to thelarge property market inBunbury, he has proven aregional focus is no barrier tobeing at the forefront of industrytrends.

As the principal of CitygateProperties — and one of WA’sbiggest private landlords — MrProsser attributes much of hissuccess in the competitive retailindustry to the ability to change and not resist newapproaches to promoteconsumer spending.

“If you always leave thingshow they are, it’s boring and thecustomer finds it boring,” hesaid.

“I recognise a change and ifyou look at change in the rightway, in a market sense, it’sexciting. It’s not boring.”

At the Bunbury Homemaker

Centre, which is ranked in sizeas one of the top 10 large formatretail outlets in Australia,Citigate has added a majorliquor store, office space and fastfood outlets to a standard bulkygoods outlet.

“You need to make retail lookcurrent for the client and thecustomer base of the day,” hesaid.

His group plans a $65 million,31,000sqm redevelopment ofEaton Square Shopping Centre.

In recognition of Bunbury’shigh number of SUV owners,bays on the centre’s new parking

deck will be bigger to allowcustomers to park easily.

For retirees, there will bemotorised scooter rechargingfacilities.

The former Federal ministerand current WA Liberal Partypresident started to amass hisproperty fortune in betweenconstruction projects.

“Every time I finished aproject, to keep my core guystogether I’d build a shed, afactory or commercial unit andover the years I started to buildup more property,” he said.

It was then he developed aninterest in retail projectstailored to consumer and tenantneeds.

Shying away from questionsabout the size of his personalfortune, Mr Prosser would onlyconcede to being veryconservative in his gearing.

“I don’t worry about what I’mworth. I just keep doing itbecause I love doing it and youhave to have a reason to get outof bed in the morning.”

Geoff Prosser

$212 million

PROPERTY Citygate

Properties.Homemaker

Centre,Eaton Fair

39

WA’S RICH LIST 2013 11

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Alan TribeHe is anything but ahousehold name, yet hepossibly has moreproducts in more householdsthan any other West Australian.

He is sitting on a blue and goldgoldmine as the WA and SouthAustralian franchisee ofSwedish homewears giant IKEA.

His IKEA superstore inInnaloo can create its own peakhour traffic at the weekend,seemingly immune to thefluctuations in real estate orhome building markets.

IKEA benefits from uncertaineconomic times as shoppersseek savings in flat-packfurniture, then enjoys a kickwhen confidence abounds.

Our valuations of the IKEAfranchises are very conservative

given their solid WA growthsince moving from a relativelysmall building in Osborne Parkas the global financial crisis washitting in 2008. A property trustcontrolled by Mr Tribe owns the$120 million-plus Innaloocomplex.

$229 million

FURNITURE, RETAILIKEA franchises

PROPERTYLEX PropertyManagement

Flat-pack fortune: Alan Tribe and his wife Marisa.

He made a fortune with fastfood and is passing on tohis children an empirethat accountants and nutrionistsalike would love.

If food quality and security arethe major questions of the 21stcentury, some of the answers willbe in the hands of Nick Tana’sdaughter Lisa and sons Vincentand Peter.

With arguably WA’s biggesthorticultural business, thefamily exports to Asia, theMiddle East and Europe.

The semi-retired Mr Tanamade a fortune building, buyingand selling the Red Rooster andChicken Treat fast food outlets.

The childhood migrant has

attributed his success in life tothe attitude brought by tens ofthousands of “new Australians”who came here from Europeafter World War II to build a newlife and better themselves.

“The parents instilled that intheir children and theirchildren, by and large, took upthat challenge and went fromstrength to strength,” he said.

“It is a very simple belief —you put your head down andyour bum up and you do noharm to anybody else.”

The Perth Glory co-founderexpanded his extensive interestsin horticulture in 1998 by buyingthe trading name and key assetsof the troubled Sumich Group.

Nick Tana

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WA’S RICH LIST 201312

The former maths teacherflirted with a nearrecord-high share price forlisted education providerNavitas as he pocketed $32.3million in September.

Dr Larsen’s sell-down of hisholding in the company heco-founded in 1994 was just hissecond in four years, afterraising a more modest $8 millionin 2009.

The on-market sale tookadvantage of a record run byNavitas, now WA’s fifth-biggestlisted company and the second-biggest non-mining concernoutside Wesfarmers.

Dr Larsen retains 23.4 millionshares, or 6.2 per cent of Navitas, which were worth asmuch as $149 million at thecompany’s market peak.

His wealth has funded entryinto a string of properties in theSouth West, including CapeLodge resort.

He remains a director ofNavitas and retains a fiercepride in its success, telling anaudience several years ago ithad demonstrated educationcould be delivered “in acommercial environmentwithout compromising thenature of the profession”.

Peter Larsen

$217 million

EDUCATION,PROPERTY,

TOURISMNavitas, Cape

Lodge

38

$225 million

HORTICULTURE,MANAGEMENT,

EXPORT, OLIVE OILSumich, North East

Equity, Freshlink Export,nib Stadium

37

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Maranup Waters

‘Maranup Waters’ Bridgetown 205 hectares (506 acres)Bridgetown Grandeur. Three early selected titles. Water the feature. r� One of the South-West’s finest lifestyle propertiesr� Major waterway with a year long flowr� Unique riparian springr� Water provides potential for future tourism or horticultural pursuits r� Variety of elevated home sites suited to lifestyle living r� Granite loam soils and excellent fencing support a 200 breeder cattle investment

$2.9 million

‘White Dog Farm’ Lower Chittering 17 hectares (42 acres) A rare opportunity to combine luxury lifestyle with a desirable rural location r� Highest quality in every detail r� Designer residence with five star finish and B&B wing r� Two additional guest cottages of the same high standard r� Marbling Brook bisects the picturesque property r� Established vineyard and olive grove for personal enjoyment or development r� Only 70 minutes from Perth and 45 minutes to the Perth airport

$2.4 million

$2.5 million

White Dog Farm

Harvey Springs

‘The Rich List Wish List’- John Garland

‘Harvey Springs’ Harvey 60 hectares (150 acres) Location, Location, Location...! r� A South West Highway frontage mid way between Perth and Bunbury r� Entertainment facility to accommodate a multi-tourism destination –

restaurant, function centre, boutique brewery r� Extensive landscaping provides scope for outdoor concert, picnic, markets

and exhibition areas r� Gateway to the South West. Strong visual position r� Water availability to enhance the commercial benefits

WA’S RICH LIST 201314

If you are a mining executivewanting to vent your spleenabout labour costs, it isstrongly suggested you don’tdo it around Dale Alcock.You would likely be on the

receiving end of a spray goingsomething like this: “You’re theidiots who bidded up the wages.You’re the guys who stole allour apprentices and tradespeople. You don’t contribute totraining and you should do.And you expect everyone to cryfor you now because you arehaving it a bit tough. Suck itup.”

Mr Alcock fears these wordscannot be uttered in this Statebecause people will think thespeaker has just landed fromanother planet and does notunderstand the sacrosanctstatus of the mining industry.“It’s like all praise to the greatone,” he said.

Mr Alcock has every right tovoice his opinion.

The Kellerberrin-raisedbuilder can lay claim to being

the biggest trainer ofapprentices in the Australiathrough his 26-year businesspartnership with fellow formerbrickie Garry Brown-Neaves.

With about 220 apprentices onthe payroll, it is a program thattheir ABN Group has developedand kept going through adownturn in the home buildingmarket in recent years and inthe face of strong demand fromresources projects offeringskilled workers big pay packets.

Mr Alcock said he and MrBrown-Neaves had a policy ofkeeping on workers as much asthey could through tough timesso that they were ready whensentiment picked up in thebuilding game.

“We know it is a cyclicalbusiness,” he said. “If you getrid of good people you don’t getthem back again. We tend torepay loyalty back to our staff. Itleaves us in better condition tobe able to pick up our ratingswhen the market recovers.

“Our growth has been

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Dale Alcock

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internally funded, we don’tcarry external debt. Withoutbeing blase or arrogant about it,we can choose to run it how wewish to run it. We are notbeholden to banks and externalinvestors for where and how ourreturns are.

“If we were, we probablywould not be runningAustralia’s biggestapprenticeship trainingprogram because someonewould be over our shoulderssaying ‘That takes away fromour return’. We are laying theroots down for a longer gameand a more sustainablebusiness.

“We have a greater workforceand a greater capacity to kickup by keeping staff through thetighter period. It is not justabout short-term profits, it isabout reinvestment in ourworkforce.”

The lack of debt in the

operations has not only givenMr Alcock and MrBrown-Neaves discretion onstaffing levels, it has alsoallowed them to expand intoMelbourne.

The group now claims to be inthe top 10 builders in theVictorian capital after engagingthe market with a two-brandstrategy, its entry levelHomebuyers Centre and itsupmarket Boutique Homes.

The Victoria strategy is

expected to begin payingdividends this financial year.“We have entered it as a major builder, not a smallbuilder building up,” Mr Alcocksaid.

“That has magnified theinvestment but it also says ifwe’re going to go there, let’s gothere as a large player.”

With almost 3200 homes builtin 2012-13, the ABN Group isAustralia’s second-biggest homebuilder behind LenBuckeridge’s WA-focused BGCempire.

There have been signs ofimprovement at the lower end ofthe housing market this yearthat is starting to flow throughto slabs being laid.

Mr Alcock estimates hisgroup’s building numbers couldhead towards 4000 this yearthanks to Melbourne operationsgaining traction and the pick upat the lower end of the WAmarket.

Mr Alcock and MrBrown-Neaves have also beenbig investors in propertydevelopments, including officebuildings, in recent years.

After being a talented butdisinterested student in highschool, Mr Alcock became athird-generation builder in afamily business.

His father Dennis died in 2010,aged 78, after a short but painful battle withmesothelioma.

His questions aboutasbestos-related diseases werethe catalysts for an industryfoundation bankrollingresearch into worker health andwellbeing.

34

$243 million

HOME BUILDINGABN Group, Dale Alcock

Homes, Webb &Brown-Neaves

FINANCEResolve Finance,

Investor Assist

Dale Alcock with his wife Jan and daughters Libby and Sophie.

The man who made hisfortune buildingengineering groupWorleyParsons is not afraid ofspreading his cash or hisexpertise around.

Accustomed to putting hismoney where his mouth is, thebusinessman ploughed some ofhis nest egg into FortescueMetals Group while working asdirector of developments.

He has also taken on the job ofchairman of a major fundraisingcampaign for Ronald McDonaldHouse, which helps take care ofsick children.

The businessman’s approachto life is strongly informed by hislifelong attachment to the

Mormon Church, where he is aninfluential leader.

In a Church video Mr Meurssaid the world was crying out forhonest leaders who would helpand serve others.

Though enjoying businesssuccess, he argued his greatestblessing was his family.

$235 million

MINING,SERVICES

Fortescue MetalsGroup,

WorleyParsons

Peter Meurs

35

WA’S RICH LIST 201316

His business partner DaleAlcock is the very publicface of the highlysuccessful ABN Group homebuilding conglomerate. GarryBrown-Neaves is the media-shysenior partner.

We say senior not just becauseMr Brown-Neaves is two yearspast the official retirement ageof 65 but also because 52-year-oldMr Alcock insisted, out of whatseems like a very deep respect,that we have his partner higherup WA’s Rich List

Mr Brown-Neaves establishedWebb & Brown-Neaves with hisformer business partner JohnWebb in 1978 but made what wasprobably the decision of alifetime when he backed a26-year-old Mr Alcock into DaleAlcock Homes in 1987.

Mr Brown-Neaves, a formerbricklayer who was kicked outof Scarborough Senior HighSchool at age 14, has previouslysaid he did not view himself as ahuge success.

“It’s just opportunities havepresented themselves and we’vetaken them,” he said.

“For us, it is about creatingcompanies that build qualityhousing, employing people andputting money back into thecommunity.”

Mr Alcock said he and Mr

Brown-Neaves agreed on mostmajor business decisions,including the one to retain staffand apprentices throughhousing industry downturns.

He said the two formerbrickies accepted there werecosts in keeping a high numberof apprentices but saw it as agood reinvestment of theirprofits and one that had to bemaintained.

“You can’t do that on a short-term basis,” Mr Alcock said.“Over a three-yearapprenticeship you have to seethem through, otherwise you area mongrel really.”

Mr Brown-Neaves did hisapprenticeship with his fatherand set about building financialindependence, owning his firsthouse within five years.

Garry Brown-Neaves$260 million

BUILDING, PROPERTYABN Group, HomebuyersCentre, Boutique Homes,

Boeing Plumbing

32 Lou heads the group as

managing director. But hisbrothers are all intimatelyinvolved as directors and dealerprincipals across DVG, meetingas a group every week with Louto go over business.

Like the rest of the industry,DVG has enjoyed record sales inrecent years, thanks to lowinterest rates and the strongAustralian dollar, which hasreset car affordability at its bestlevels since the 1970s.

DVG is estimated to be selling14,000 cars a year.

Lou says that DVG will reach acritical mass in WA at sales ofabout $1 billion. “We’re not thatfar off,” he said. And withgood-priced opportunities in WAdrying up on the back of recentconsolidation, an east coastexpansion looms.

DVG enjoys a goodrelationship with its bankers, sodebt funding of any push on tothe east coast would not be anissue.

However, there is no doubt theDivirgilios could raise

It has been a quiet butrelentless rise by the sevenDivirgilio boys.Eschewing the publicityembraced by city rivals, thelow-profile brothers — Lou (53),Dominic (50), Robert (48), John(46), Stephen (45), Michael (43)and David (42) — have built oneof the State’s biggest car retailempires from small beginningsnearly 20 years ago.

Perth-born to Italianimmigrants, their DVGAutomotive Group now boasts 30new and used car dealerships onnine sites, turning over anestimated $700 million a yearand employing more than 700people.

The multi-franchisedealerships don’t miss much,embracing Holden, Toyota,Mitsubishi, Nissan, Hyundai,Suzuki, Chrysler, Jeep, Dodge,Fiat, Alfa Romeo, Peugeot, Kia,Skoda, Volkswagen, Isuzu UTEand China’s Great Wall.

The business also includescustomer financing and vehicleservicing arms, the latterrecently augmented by a newjoint venture in the Pilbara withAboriginal group Gumala.

It is a far cry from theDivirgilios’ entry into the motorindustry in the 1980s withDominic and Robert’s purchaseof a small Mount Lawley caryard, Motor King.

A few years later, theirambitions aroused, the duosounded out their eldest brother,Lou, then working the moneymarkets in New York, about apartnership.

DVG was born in 1996 with thepurchase of a Mitsubishinew-car dealership inWanneroo. Lou says the initialaim was “to get established” inwhat is renowned as a tough,low-margin industry and createa business able to successfullysupport the family.

It has proven that and more.The younger brothers were

absorbed into the network asDVG grew steadily throughacquisition, picking off suitableopportunities as they arose.Significantly, it owns the land onwhich its dealerships aresituated.

The one sibling who hasn’tjoined the business, sisterMarianna, retains anotherconnection to the group throughhusband Guido Berini, DVG’sfinancial controller.

considerable alternative fundsfrom a partial sale of DVGthrough a stockmarket float.Like other attractive businesses,it is regularly sounded out byhopeful brokers and investmentbanks keen to lure it on to thetrading boards.

Lou would not be drawn onDVG’s future, though heconceded a listing was oneoption.

He said the group wasworking hard on its corporategovernance and structure tobetter position itself to be able toact quickly on any of itsownership options if need be ina few years time.

Little wonder then, he and hisbrothers will be closelywatching how rival JohnHughes’ proposed float plays outover the next few months.

Mr Hughes is believed to beseeking to sell 40 per cent of his$650-million-a-year, VictoriaPark-based business via aninitial public offer throughEuroz Securities early next year. Sean Smith

Divirgilio family

$262 million

CAR SALES,SERVICING

DVG AutomotiveGroup, MidlandToyota, Prosser

Toyota, DVG GoldyHolden and Suzuki

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The Divirgilio brothers: Stephen, Michael, David, Lou, Robert, John andDominic. Picture: Michael O’Brien

WA’S RICH LIST 2013 17

Stan Quinlivan, one ofPerth’s quieter high-flyers,is soaring at the moment.Though he likes to keep off thepublicity radar, recentdevelopments in the propertyfield will focus the spotlight onhis business empire.

As the owner of Cottesloe’sOcean Beach Hotel, MrQuinlivan benefits significantlyfrom the recent decision to allow“higher” rise — to eight stories— on the beachfront. Heconfirmed he would move aheadwith development of the site.

Also on the high-rise radar isan 11-storey office blockdevelopment in Osborne Park,which is close to approval.

Property is a huge part of hisempire but Mr Quinlivan madehis fortune in transport,through Skippers Transport andSkippers Aviation.

Skippers Transport trucks bigand small have been a familiarsight around the State fordecades and his aviationinterests are well established.

He is one of the many peopleon WA’s Rich List who arebeneficiaries of the State’s

resources boom even if they arenot known for their mininginterests. Skippers Aviation has29 regional turboprops thatoperate regular transport flightsas well as fly-in, fly-out charters.

The airline has also takendelivery of two 98-seat Fokker100 jets which should enterservice shortly and will be thepride of a fleet worth more than$135 million.

The airline holds the contractto serve the inland towns ofMeekatharra, Wiluna, Laverton,Leinster, Leonora and MtMagnet and it also servesKalbarri, Carnarvon andMonkey Mia withoutgovernment subsidy.

$290 million

AVIATION,TRUCKING,PROPERTY

Ocean BeachHotel,

Tilden Park Stud,Skippers

Transport,Skippers Aviation

StanQuinlivan

30

One of veteran businessmanDanny Hill’s favourite lines is:“As human beings we all wanttoday what won’t come for manytomorrows”.

A $100 million-plus tomorrow is nowmuch closer for Mr Hill after 21 yearsof being an interested and patientobserver of the battle over bankersskinning and boning Alan Bond’s cashcow, Bell Group.

A settlement deal officiallyconfirmed last month by liquidatorsand bankers is set to provide a sizablereturn on a $200 million debt Mr Hilland business associates Brian Coppinand Wayne Bowen bought after Bellcollapsed in April, 1991.

Mr Hill left Perth a decade ago withhis family to live in Monaco, fromwhere he manages his overseasinvestments. He has entrusted hisAustralian assets to former City toSurf winner Stephen Spiers.

Danny Hill

$295 million

PROPERTY,LITIGATION

Chancery House,Sunshine Cove,IMF (Australia)29

Members of the Fini familyhave been profilicplayers in Perthproperty investment anddevelopment over the past 30years.

Set on a path by their Italianmigrant father Tony, Don andAdrian Fini have continued tobuild significant holdingsthroughout metropolitan Perth.

Since selling out of thecompany behind LittleCreatures brewery last year,Adrian has spread his wingswith developments in Fremantleand the Perth CBD.

This includes deals with hisFJM Property partners DavidMack and Barry Jones, who alsobacked Little Creatures.

Fellow former Art Gallery ofWA director Helen Cook saidAdrian’s relaxed manner “belieshis sophistication andunderstanding of social andcommunity values”.

Finifamily

$255 million

PROPERTYDEVELOPMENT,

INVESTMENTFinloy, Fini Olives

33

It has been well over a yearsince news broke that theKailis family appointedPricewaterhouseCoopers toadvise them how to sell theheart and soul of their empire:the fish business.

Things have been quiet eversince and there has beenspeculation the sale process fellvictim to the complexities ofbeing a family affair — familymembers have different fingersin different pies.

They are lucrative pies,according to 2012 results, whichshow the family businessturned over $461.9 million andmade a profit of $9.6 million.

It’s the kind of money whichpatriarch George Palassis Kailiscould only have dreamt of whenhe came to Australia from theGreek island of Castellorizio in1914 to sell fish from a basket.

George’s sons — Peter, Theo,Michael and Victor — haveplayed a part in building whathas become a shining light ofmigrant success in WAbusiness.Ben Harvey

John Hughes may be 77 andset to float some of his carsales company, but he hasno plans to reduce his60-hour working week.Mr Hughes claims he has been

“infatuated and obsessed” withthe motor vehicle industry sincehe first became a clerk atAttwood Motors as a 20-year-old.

He set up the Paramotorschain ten years later, took overthe Skipper Bailey MotorCompany in Victoria Park in1980 and changed its name toJohn Hughes in 2005.

His 550 staff sold nearly 21,000cars last year and the iconic WAbusiness, which has become ahousehold name, turned over$650 million.

His passion for the industrydoes not appear to have waned,and he can still be found on theshowroom floor talking tocustomers six days a week.

Mr Hughes plans to float someof his company early next year,and expects to keep up his workschedule for another ten years.

However, he said the float wasimportant partly as longer-termsuccession planning becausenone of his four children hadany interest in running his carempire.

Despite his keen interest inhealth and fitness and longevitythat runs in his family genes,Mr Hughes said he had toconsider the future.

“I don’t want people to readinto this that I’m retiring orstepping back or taking any lesstime in the office because that’snot the purpose,” he said.

“The main reason issuccession planning andretirement of debt.”

Mr Hughes, the son of a busdriver father and a busconductor mother, was anervous child who grew up inworking class Fremantle with astutter.

While he has risen to the topof his game, he said he has littleinterest in living an extravagentlife.

He said he and his second wifeMargarita enjoyed good food,wine and holidays, but he didnot have the time or inclinationto indulge in luxuries such asboats and racehorses.

After years of appearing inadverts on local televisionscreens and radio, Mr Hugheshas become a bit of a localcelebrity and Margarita isregarded as one of Perth’sA-listers.

“I’m proud for her sake and Iget a vicarious kick from it,” hesaid.

“I’m proud of her, proud of theway she presents herself.”

Kailisfamily

John Hughes

$322 million

CAR SALES,SERVICE AND

FINANCING John Hughes

Victoria Park, JohnHughes

Warehouse, ParkFord, RV Centre

$314 million

FISHING, FOODDISTRIBUTION,RESTAURANTS

Kailis Bros, NationalFisheries, Kailis Fish

Market Cafe

26

25

2

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WA’S RICH LIST 201318

With the dream of a majornew iron ore project inthe Pilbara nowofficially on ice, Tony Poli’sAquila Resources is focusing onthe potential development of itsmetallurgical coal projects, andcasting its eyes around the globefor new acquisitions.

The end of the bull run foriron ore stocks in mid-2012 —when iron ore prices tumbledand took with them the hopesthat China would continue tobankroll multi-billion dollariron ore projects to feed itshungry mills — also cut much ofthe blue sky valuation of Aquila.

At its height, Aquila wasworth more than $13 a share. Its

average price over the last yearwas about $2.30.

With its re-valuation wentmuch of the paper worth of MrPoli, whose 30 per cent stake isthe foundation of his wealth,briefly making him a paperbillionaire in 2008, before theglobal financial crisis.

Mr Poli called time onAquila’s West Pilbara project inJuly, abandoning talks with theChina Development Bank overfunding for the $7.4 billionproject.

Its huge capital costs were amajor issue, as was a disputewith joint venture partnerAmerican Metals and CoalInternational, which went cold

on further project spending latein 2012. Since then AMCI hasbeen the centre of speculation itwas seeking a buyer for itsshare of the project.

But while Aquila’s marketvaluation has lagged, its cashbalance has not.

After selling three assets for acombined $617 million over the

last 18 months, at the end ofJune the company was carrying$590 million in cash.

That is more than enough toback the development of itssmaller assets, the most likelyoption being the $368 millionWashpool coking coal project inQueensland, or acquire newoptions from the plethora ofdistressed assets seekingcashed-up buyers on the globalresources market.

With production at itshalf-owned Eagle Downs cokingcoal mine set to begin in 2017,there’s plenty to come at AquilaResources, even if the dream ofmaking it big in the Pilbara isover for the foreseeable future.

$298 million

IRON OREAquila Resources

Tony Poli

28

Peter and Theo Kailis at theirLeederville store. Picture: Lee Griffith

in 2004 and oversaw thecompany as it becameAustralia’s biggest residentialland syndicator.

Peet has 75 owned, syndicatedand joint venture projects acrossfour States and more than 50,000lots in its land bank.

Though more aware than mostof property market cycles, heremains a fan.

“Through all the years thatI’ve observed property, it’s beena very good investment,” hesaid.

“For someone wanting to owntheir home today and not rent,it’s far more likely the value oftheir home will go up in thelong-term than stay where it isnow.”

Tony Lennon predicted that2012-13 would be tough forbalancing land releaseswith tentative consumers.

Once again, the propertyveteran was proved right.

The rebound in land sales thisyear was undermined by lossesin Queensland for his listedvehicle Peet, the developmentcompany he purchased 27 yearsago and later floated.

In a career spanning 42 years,Mr Lennon steered Peet throughthe Australian propertymarket’s cycles but has a lesshands-on role these days asnon-executive chairman.

He was executive chairman ofPeet before it was listed on theAustralian Securities Exchange

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to try to take over thePerth-based AHG, which wasbuilt by Mr Wheatley onbusiness foundations laid by hisfather Sydney.

The ambitious son oversawthe creation of a strongmanagement structure thatallowed AHG to make arelatively smooth transitiononto the stock exchange.

Mr Wheatley can be creditedwith building a strong publiccompany, yet he is an intenselyprivate man.

His 12 commandments ofbusiness are listed as including“look after your staff ”, “makesome money and have somefun” and “you need to have the right site, own it and control it”.

Despite having made theshock decision last year tosell most of his stake inAutomotive Holdings Group,Vern Wheatley’s wealth is stillheavily tied up in the car game.

Mr Wheatley set himself upbefore the 2005 float of AHG asthe landlord of many of its caryards, including Wangara’spopular automotive alley.

In a rebuff to his tenants andformer lieutenants, he sold most of his AHG stake last yearto major listed rival AP Eagersin a cash and scrip deal.

This put Mr Wheatley and hisfamily in the powerful positionof being top-three shareholdersin both groups.

The Wheatleys will have awhip hand if AP Eagers decides

As one of Australia’s topprivate propertydevelopers NigelSatterley has beenriding the fortunes ofWA’s economy and in turn theState’s housing market fordecades. His company, theSatterley Property Group, hassold more than 50,000 home sitesat 130 residential developments.

With discerning customersand changing consumer trends,he sees the business of turningbig tracts of land into enduringcommunities as a challengingone.

“The home building industryis very competitive and we learnthe most from California andthe east coast of the US wherethey are using lots of innovationfor smaller spaces,” MrSatterley said.

“We take bits and pieces andmodified ideas from there andapply them to Perth’s housingmarket.”

Like a lot of industry insiders,Mr Satterley says consumersare now more cautious.

“At the coal face what we areseeing is the desire take on lessdebt but smaller, better-designedhouses that are close to parksand amenities are still a goodthing for the balance sheet,” hesaid.

In Perth, the Satterley Groupmade its name developingmaster-planned communities.Together with a privatesyndicate, the group this yearexpanded its presence in the

Victorian housing market withthe purchase of a 125hadevelopment site on theoutskirts of Melbourne for $100million.

“The Melbourne market isquite similar to Perth so we feelvery comfortable there,” saidMr Satterley, who spends aboutfive days each month at theVictorian projects.

“We have some very goodprojects and we plan to growstrongly and sensibly inMelbourne.”

Mr Satterley’s own residentialplans also made the news thisyear when he and his wifeDenise paid $17.5 million for oneof Perth’s most expensive homeson the riverfront in PeppermintGrove.

The deal for theheritage-listed mansionChiritta, which boasts sevenbedrooms, a sunroom and afive-car garage, set a new pricerecord for a conventionalresidential block in PeppermintGrove.

Tony Lennon

Vern WheatleyNigelSatterley

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$311 million

LANDDEVELOPMENT,

SYNDICATIONPeet

$360 million

LANDDEVELOPMENT,SYNDICATIONS,

ART COLLECTION,REAL ESTATE

Satterley PropertyGroup, Swansea

Gallery

23

27

$355 million

PROPERTY. CAR SALES AND

SERVICINGAutomotive Holdings

Group, AP Eagers, JovePty Ltd

24

WA’S RICH LIST 2013 19

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$390 million

EDUCATIONSERVICES

NavitasFor Rod Jones, part of theattraction of appointinga family investmentofficer is having agatekeeper to field thegrowing number of approachesfrom investors and fundmanagers offering to help himmake better use of his wealth.

Guided by its ownmanagement, Mr Jones’Hoperidge Capital now overseesthe family trust’s wideninginvestment portfolio, allowinghim to focus on Navitas, theeducation provider he foundedwith Peter Larsen.

The portfolio is supported bythe proceeds of Mr Jones’ $48.5million partial sale of hisshareholding in the listedNavitas in May.

“Part of doing thingsappropriately is ensuring thatyou diversify . . . but I alsorecognise that Navitas willalways be my major love,” MrJones told The West Australianfour months later.

“Do I need to sell any more(shares)? No. I’ve sold enough tobe able to do all the things I want

to do. It’s that simple.” Funded by Navitas’s

sharemarket success, Mr Jonesand his children havedemonstrated a willingness topursue other business interests.Both sons, Scott and Shane, havebeen involved with businesseslinked with their father and thefamily’s investments.

Shane is chief commercialofficer at Midland-based drillingcompany Enerdrill and alsomanaged the development ofindependent electricity retailerPerth Energy’s spin-off $100million Merredin power projecttwo years ago.

Scott, chief operating officerof Navitas’s media educationbusiness, is a director of Mark

Bouris’s listed financialplanning and mortgage brokingbusiness, Yellow Brick Road, inwhich family members hold atleast 3.1 million shares.

However, Mr Jones’ wealthremains anchored by Navitas,which was set up to providemainly international studentswith pathway educationprograms into Australianuniversities.

Having begun life with asingle partnership with EdithCowan University and 198students in 1994, in the lastfinancial year it enrolled 21,000students across 30 colleges andmanaged campuses inAustralia, the UK, Canada,Singapore, the US, Sri Lankaand Kenya.

Shares in Navitas have thisyear traded at record highsabove $6.36, valuing Mr Jones’remaining 12 per cent stake of 45million shares at $287 million.

Dr Larsen retains 8.2 per centafter having also sold down aportion of his holding inSeptember, pocketing more than$32 million.

Rod Jones

There have been plenty ofchanges in the names onWA’s Rich List, but RhondaWyllie could become the firstcase of the name changing butthe person remaining the same.

The Perth social scene is alivewith talk of Mrs Wyllie’s plans tomarry part-time NineEntertainment Companyexecutive Jeff Browne.

Friends of Mrs Wyllie say sheis enjoying life again aftergrieving deeply following thedeath of her husband Bill Wylliein 2007.

The legendary dealmaker, whofought a long battle with cancer,left Mrs Wyllie and his childrena business empire with assetsexceeding $500 million andstrong management.

The flagship company WyllieGroup had some lean years afterlosing its founder then being hitby the global financial crisis, butbounced back last year with a$22 million profit.

Mrs Wyllie owns more than 70per cent of Wyllie Group and hasstakes in extensive other assets.

She is more often seen in thesocial pages than the business

pages, a reflection of herposition on the A-list ofPerthonalities. She is a keentraveller.

Friends and fundraisers willbe hoping she continues to callPerth home — or at least one ofher homes — if she gets hitchedto Mr Browne.

Rhonda Wyllie

$376 million

INVESTMENT,PROPERTY

Wyllie Group, PerthConvention and

Exhibition Centre,Sorrento Quay

20

22

1

Major contract winswith Rio Tinto andWoodside this yearput the namesCardaci andCenturion on the business map.

From a one-truck operationstarted by Sicilian migrantsFrank and Carl Cardaci in 1968,two generations of the Cardacifamily have quietly built amajor transport, services andnational property empire.

Though proud of their bluecollar roots, one source said theCardacis drew on top-flightexpertise in supply chain andlogistic that allowed them tomore than match their higherprofile rivals.

Centurion is an advancedbusiness now under the controlof sons Philip and Marc, aneconomist who worked as aproperty investment analystbefore joining the family firm.

The family took a punt twoyears ago when they boughtrival Oilfield and GeneralTransport, which had a contractwith Woodside that everyone

expected to be shortly put up forgrabs. This year’s extensionwith Woodside and new dealwith Rio means the family canuse the contracts, potentiallyworth hundreds of millions ofdollars, to underpin furtherexpansion of their businesses.

Work on around 30,000sqm ofextra warehouse costing about$30 million started this year atCenturion’s base in Hazelmere,expanding the facility’s totalsize to 150,000sqm.

Centurion is also expandingits Dampier operation to fulfilits Woodside obligations andwin other work.

The family’s CFC Groupflagship bought the mineralsprocessing company CapeCrushing and Earthmovingfrom struggling engineeringgroup VDM in a $53 million dealin 2011.

City dwellers would likely bemost familiar with theUnderground Services Australiadivisions, whose trucks can beseen laying optic fibre cable innew and established areas.

Cardaci family

$385 million

TRANSPORTCenturion

CONTRACTINGCape Crushing,

Underground ServicesAustralia, JCB Equipment

WA’S RICH LIST 201320

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Peter Bartlett and RonSayers have a friendshipthat goes back tokindergarten.They have built majorbusinesses together and beenthere for each other throughmarriages and divorces, as wellas good and ill health.

It is also a relationship thathas been tested to the limits,such as during the sale of theirjoint venture undergroundcontracting group Barminco, ina private equity play that hasstruggled to get support for asharemarket float.

Yet the biggest test arose afterthese best of mates wereinvolved in tax minimisationschemes 13 years ago that helpedslash tax on about $50 million ofprofit from Barminco and otherbusinesses. They subsequentlybecame enmeshed in a majorinvestigation by the AustralianTaxation Office and AustralianCrime Commission.

A Supreme Court jury islikely to decide within dayswhether these friends conspiredto cause a loss to theCommonwealth over allegeddealings linked to protect taxminimisation schemes.

A guilty verdict is likely to seethem behind bars for quite astretch considering their formeraccountant Trevor Thomsonserved 13 months in jail afterpleading guilty over his role.Though a decision on guilt orinnocence will require a

detailed examination of complexevidence, what has been madeclear in the trial is the level ofoverlap in the business affairs ofMr Bartlett and Mr Sayers.

Mr Sayers disclosed his 50 percent stake in Barminco to thetax office but it was otherwise aclosely guarded secret.

It seems there was a concernthat there could be a perceptionof conflict of interest given MrSayers is the founder and majorshareholder of listed drillingcompany Ausdrill.

What Mr Sayers’ prematuredeparture would mean forAusdrill — and shareholders,including Mr Barlett — remainsto be seen, given the groupfloundered early last decadewhen Mr Sayers was insemi-retirement after suffering astroke. � Editor’s note: Mr Bartlett andMr Sayers previously hadseparate entries in WA’s RichList. They are now consolidatedbecause it is to too hard toestimate their individual wealth.given their overlapping interests.

Bartlett & Sayers$405 million

MININGCONTRACTING

Ausdrill,Barminco,

FMRInvestments

After the $500 million sale ofits WA Gull fuel retailingbusiness in 2010, thefamily of Fred Rae retained anindirect interest as the landlordof many Gull sites across theState. Following the aggressivepricing and canny marketingmodel they employed sosuccessfully building Gull inWA, the Raes are now focussingtheir business-building skillsacross the Tasman.

After a career buildinghouses, Fred Rae made the moveinto petrol retailing around thetime self-service was kicking offin the mid-1970s.

Gull New Zealand is now atthe forefront of arguably thenext generation of dimishingservice, lowering prices atso-called service stationsthrough unmanned operations.About one-quarter of its servicestations on New Zealand’sNorth Island are unmanned.

The Rae family operationtakes credit for helpingmotorists, regardless of whetherthey are customers, through theso-called Gull effect. As anAutomobile Association analysttold the New Zealand Heraldrecently, competion hotspots arecreated around Gull stations.

Fred Rae & family

$392 million

PROPERTYGull WA sites

Bunbury TowerFUEL

STATIONSGull New

Zealand

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WA’S RICH LIST 2013 21

Connected: Carl Cardaci (second from left) withpolitician Malcolm Turnbull, Philip Cardaci, SwanMP Steve Irons and Marc Cardaci in 2011.

Peter Wright0438 727 476

pwright@re88.com.au

Selling Property, Not Promises www.re88.com.au

Jasmyn Wright0409 106 766

jwright@re88.com.au

The Inner City Residential Market Leaderscall us today for free expert advice on:

Residential SalesProject Marketing

Residential Management2 / 98 Terrace Road, East Perth WA 6004 Offi ce: (08) 9200 6168 Fax: (08) 9218 8860

2132003pJEMM241013

If you thought the Houseof Hancock was divided,then you ain’t seennothing yet.Welcome to the Houseof Caratti, where the onlycommunication betweenbrothers Allen and Johnseems to be either via ornear lawyers.

A reporter from The WestAustralian recently had therare privilege of witnessingtwo of these encounters.

One occasion was whenAllen dropped in to watchthe trial of a businessmanwho had incurred John’swrath after ripping off theirmother Maddeliene.

The insults between thebrothers were as colourfulas the offers to sort thingsout man-to-man.

The other occasion waswhen John gave evidenceon behalf of jailedbusinessman Kevin Pollockin an unsuccessful actionagainst Allen over a landdevelopment venture.

To borrow the words ofJustice Jeremy Edelman,the significant animositybetween John and hisyounger brother was“palpable in his demeanourand in his evidence”.

Dismissing John’stestimony, the judge saidthe elder brother showed an“extremely hostiledemeanour”.

He also pointed to thedegree of “enmity andanger” between thebrothers and their historyof litigation.

One piece of litigationgoes to the very heart ofwhat constitutes theirfamily fortune. At stake intheir own Supreme Courtbattle is land holdingsvalued at $1 billionsprawled acrosssouth-western WA.

It includes the biggestholding of farming land inthe Esperance area, held incompanies that areindisputably part of theCaratti family empire andin others officially ownedby Allen’s second wife TinaBazzo or by other close

relatives. The disputedassets also includeresidential and industrialsubdivisions, undevelopedland on urban fringes, cityoffice buildings and profitsfrom successful projects.

John claims in his legalaction the Bazzo-linked landholdings are actually part of a familypartnership, which alsoincludes land inheritedwhen their father Mick died in a car crash in 1992.

The legal action is beingfought by Ms Bazzo andAllen’s side of the family,who argue the investmentsare separate from theCaratti family partnership.

As with HancockProspecting, internal fights

have not stopped the Carattifamily from growing itsbusinesses and prosperingin the boom.

John and his sonsMichael, Nathan and Aaronhave continued to work ondevelopments in Malagaand a new large-formatretail centre onScarborough Beach Road,Osborne Park.

Their focus is on assetsthat are undisputably partof the Caratti partnership.

Allen works on assetswhose ownership may oneday be decided by the WASupreme Court.� In our estimate of thefamily’s wealth, we haveincluded assets whoseultimate ownership is hotlycontested in John’s legalaction. This is not areflection of the merit orotherwise of the action, butrather a matter of narrativeconvenience.

Caratti family

$457 million

PROPERTY,DEVELOPMENT

Navarac, VenetianNominees, Gucce

Holdings

The managing director oflisted contractor and ironore miner MineralResources may not be the face ofWA’s mining success stories butin many ways, Chris Ellisonbest typifies how to make afortune based on a strong workethic, pragmatism and a decentdose of street smarts.

From his humble beginningsas a penniless teenager fromNew Zealand who came to seeka better life in Australia, MrEllison has become one of theState’s richest individuals. Andhe retains the title of the ownerof WA’s — and Australia’s —most expensive house with his$57.5 million purchase in 2009 ofAngela Bennett’s Mosman Parkmansion.

It is typical of Mr Ellison’spragmatic approach that he sawthe purchase as portfoliodiversification (most of hiswealth remains tied up in his14.5 per cent stake in the $2.1billion-valued MinRes) as wellas a belief he was getting a gooddeal on a 7567sqm parcel ofriver-front land.

Mr Ellison set up pipelinecontracting business PIHA withBob Gavranich in 1993 whichbecame one of the pillars ofMinRes, which today alsofocuses on ore processing andhas a fast-growing iron oremining division.

Mr Ellison is media-shyalthough in the past year he andhis wife Tia have becomeprominent in WA’sphilanthropic circles, donatingto causes such as TelethonSpeech and Hearing Centre andaligning MinRes as a benefactorof the PMH Foundation’sregional assistance fund.

Mr Ellison has not forgottenhis roots: he is New Zealand’shonorary consul to Perth and anAll Blacks supporter.

Chris Ellison

16

John Caratti Allen Caratti

$473 million

MINING,CONTRACTING

Mineral Resources

Over the past 40 years, Gordon Martin hastransformed a Coogee business founded toturn out copper sulphate for the agriculturesector into a national, multi-product chemicalsproducer.

Coogee Chemicals’ growing network includes asodium cyanide joint venture at Kwinana inpartnership with Wesfarmers’ CSBP, Australia’sonly methanol plant, at Laverton, and achlor-alkali plant in Brisbane.

The plants are supported by chemicals storageterminals at Kwinana, Port Hedland, Townsvilleand Gladstone. Kwinana also hosts Coogee’spetroleum fuel import terminal, WA’s biggest.

Mr Martin has won various business honoursfor his leadership of Coogee, including recognitionin Ernst & Young’s 2008 Entrepreneur of the Yearawards.

He remains at thehelm as executivechairman thoughsuccession plans arebeing cemented withthe elevation throughthe ranks of son Tim,now Coogee’smanaging director.

Gordon Martin

$450 million

CHEMICALS,PROPERTY

Coogee Chemicals17

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WA’S RICH LIST 201322

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It’s been a tough couple of yearsin the home building game butit has not stopped 83-year-oldJohn Simpson and his son Davidinvesting heavily in thedevelopment of their empire.

Forever playing the long game,they are upgrading the Myareeheadquarters of their SummitHomes Group to meet greaterdemands by new home ownersfor choice in finishes, fixturesand fittings.

John Simpson started in the

land development business morethan 50 years ago.

He has probably seen morehighs and lows than any othermember of WA’s Rich Listthrough his heavy focus onproperty.

Despite founding arguablyWA’s fifth-biggest building groupand having significant SouthWest land interests, thebusinessman maintains a verylow public profile.

David, 43, has become the

front man for the familybusiness, promoting Summit’shouse designs and southerncorridor land developments.

He was also the public face ofSummit staff, who formed asizeable contingent in therecent City to Surf fun.

“Over the past 30 years, wehave been passionate aboutsupporting the communities welive in and build in, ” theSummit managing directorsaid.

One of the most storiedfigures in the WAmining industry, theamazing run of nickelhopeful SiriusResources has added alate-in-life jewel to MarkCreasy’s crown as the king ofprospectors.

Hailed as one of the mostsignificant WA mineral finds ofthe last five years, Sirius’discovery of the Nova depositsent its shares soaring fromabout 6¢ in July 2012 to touchthe $5 mark in March.

Mr Creasy holds a big stake inSirius, plus 30 per cent of thedeposit itself. Combined, the twobriefly pushed his paper worthover the $1 billion level.

As is the way with companiesat this stage of development,Sirius shares have sincesoftened, dropping Mr Creasy’snet worth on paper accordingly.

The big question for the nextyear will be how the veteranprospector deals with hisholding.

His direct stake in Nova is“free carried” until the finaldecision to build a mine is made.That will most likely occur inthe middle of next year and,with current estimates showingthe project carries a $470 millionprice tag, he will need to comeup with $140 million to maintainhis 30 per cent stake, orrestructure his ownership ofSirius and Nova shares, or sellout at the project level.

Although Sirius has the firstright of refusal over any offerfor Mr Creasy’s stake in Nova,chatter about the various

options and possibilities haskept the West Perth cafe stripabuzz, and set corporateadvisory firms circling.

Asked about his thoughts onthe subject by WestBusiness inSeptember, Mr Creasy said hewas keeping his options open,pointing out his track record inbrokering deals spoke for itself.

Indeed it does. The prospectormade his first fortune twodecades ago by selling theBronzewing and Jundee minesto Joe Gutnick’s Great CentralMines. Together, his private

companies make him one of thebiggest holders of explorationground in the State.

That’s a situation that hasseen Mr Creasy attract criticismfrom some quarters of theindustry as a “land banker” whohas locked up swathes of WA tohis own benefit but to thedetriment of the broaderexploration sector — a criticismhe has strongly rejected.

Though Sirius has attractedthe attention of the market andthe bulk of the headlines, it hasalso been a busy year on other

fronts. Based on the success ofNova, the Fraser Ranges havebecome the latest “nearology”play, with other explorersrushing in to the region tocapitalise on both itsprospectivity and investorsentiment.

In addition to dealing outother tenements pegged in thearea to listed companies such asOrion Gold and WindwardResources, Mr Creasey’s privatecompanies have cut other dealsacross the State. AntipaMinerals picked up Creasy-heldground in the Pilbara recently,as did Coziron.

The veteran prospector evenmade a foray offshore, courtesyof the participation of YandalInvestmests in a capital raisinglaunched by Talga Resources,which is chasing graphite andiron ore projects in Sweden.

John Simpson$470 million

HOMEBUILDING, LAND

AND PROPERTYDEVELOPMENT

Summit Homes,Rockingham ParkGroup, Corry Lyn

15

If Kerry Harmanis were to everopen a school combiningbusiness and spirituality, itwould be a sure winner.

He built a reputation as one ofPerth’s toughest businessmenwhile professing and livingpractical spirituality.

He is unafraid of lettingsomeone know if he is not happywith their actions or their workand was not shy about lettingone person closely associatedwith producing WA’s Rich Listknow that he didn’t like hiswealth being profiled.

Though not directlyquestioning our sums, thephilanthropist did not leaveanyone present in any doubtabout what he thought of hisinclusion in this product.

This is the same vigorousnessfor which he was renowned athis nickel mining companyJubilee Mines before selling outto Xstrata in 2007 for more than$470 million.

The keen surfer, skier andmeditator told a University ofWA Business School functionthat he shared with staff his 10things they should not do. Theyinclude no judgments aboutanybody else, no complaining,no resentments, no hearsay andno interrupting. Issues shouldbe talked about and not be heldon to. “In other words, care andrespect for everyone,” he said.

“Leadership was not aboutcontrol. Leadership was aboutgiving people responsibility andhaving them acceptresponsibility.”

MarkCreasy

KerryHarmanis

$585 million

PROPERTY,SHARES

Cottesloe Mews,Talisman Mining

12

$539 million

PROSPECTING,PROPERTY

YandalInvestments,

Sirius Resources,Medusa Mining

13

WA’S RICH LIST 2013 23

Mark Creasy has gained national recognition as a prospector and stillenjoys assaying when he has spare time.

Straight-talking Jack Bendat admitsthe stock market has been good tohim this year and he has some advicefor anyone who cares to take it.

The owner of the Wildcats basketballteam and the renowned philanthropistadvises investors to keep it simple.

“Keep it to the top 10 stocks and stayaway from speculative stocks,” he said.

“Some banks will pay you an 11 percent return, so would you go look someplace else?”

Mr Bendat, 88, arrived in Perth fromthe US in 1966, and went on to build afortune developing shopping centres withKevin Merifield and Kerry Stokes.

He had a series of successfulpartnerships with Mr Stokes in a range oftelevision and radio businesses.

In 1997 he pocketed $100 million afterselling radio stations PMFM and Mix 94.5to Austereo, while the 2002 sale of MtBarker’s Goundrey and Fox Riverwineries earned him $62.5 million.

He has previously owned stakes inBurswood Casino, West AustralianNewspapers and Great Southern wineproducer Ferngrove.

But he believes his work to help youth,which includes seven homeless sheltersand four university scholarships, will behis legacy.

“When you have more money than youcan spend you can either put it in thegrave with you or give it away,” he said.

“Children are the future, because we’veall been here and done that.”

Mr Bendat gives away millions throughthe Bendat Family Foundation, includingthe Bendat Family ComprehensiveCancer Centre at St John of God Hospital.He is also passionate about the Wildcatsbasketball team which he bought in 2006,and which is set to turn a profit this yearfor the first time under his watch.

It was his involvement with theWildcats that gave Perth another gift,parking at Perth Arena, after hethreatened the team would boycott thevenue unless plans were changed toinclude an underground carpark.Kim Macdonald

$679 million

INVESTMENT,BASKETBALL,

WINEPerth Wildcats,

Ferngrove

Perth is full of connections thatmake the city, the money and itspeople go around.They can be networks of trustand reputation, such as thosethat allow the likes of Nigel Satterleyand Primewest to put together big dealsbased on little more than a phone call.

The other important network of trustis sharing confidences and seeing eachother through the personal crises andanxieties that can affect the wealthy justas much as those with barely twopennies to rub together.

While the poor might have to make dowith only a friend’s shoulder or the localGP, the affluent of Perth can also look toChiu Chi Wen and an array of medicaland health experts such as those at TheHealing Tree operation in Mosman Park.

The Healing Tree offers conventionalmedical services, including generalpractitioners, psychiatrists, audiologistand physiotherapists. Mr Wen is notonly the owner of this medical operationbut is a leading exponent of meditationand energy healing.

WA’s Rich List became aware of MrWen’s involvement in The Healing Treewhen one of WA’s richest people spoke ofa personal crisis and said “Chiu Chi Wensaved my life”.

According to a biography published byhis Blue Body Spiritual Centre, theUniversity of WA commerce graduatebegan his spiritual journey about 20years ago after being introduced topranic healing in Malaysia. Mr Wen saidthat before he started meditiation, hecould be affected by other people’sthoughts about him.

“My life was defined by how I could

keep people happy,” he said. “Myhappiness was derived by making otherpeople happy. Meditation allows you to behappy no matter what others feel or do.”

Such peace of mind probably comes inhandy considering Mr Wen sits atop aprivate and public business empirespread across Malaysia and Australia.

His best-known business in Australia isarguably his property group Hawaiian,whose assets include the luxurious CableBeach Club Resort and Spa in Broome,the Parmelia Hilton Hotel and CarillonCity arcade in central Perth.

Hawaiian is owned through a networkof family trust companies set up by hislate father Wen Tien Kuang Tan Sri Wenand his mother Chong Chook Yew.

The son has been managing director ofthe family’s Malaysian-listed propertydevelopment company SelangorProperties since 2000. Hawaiian and a

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WA’S RICH LIST 201324

Making connections: Nigel Satterley, Mei ChiWen and Chiu Chi Wen.

Jack Bendat

11

SALE/LEASE

Accelerating success.

On City’s Door Step

100 James Street, Northbridge • 5,095.5m² of quality building • Licensed for 38 basement carbays • 1,666m² of total land area; increased plot ratio - now 4:1

• 1,330m² fl oorplates • Good natural light • Two leased retail tenancies • NABERS exemption

For Sale or Leasewww.colliers.com.au/500665651

www.colliers.com.au

Ian Mickle0403 659 80008 9261 6628

Nicholas Agapitos0434 659 80808 9261 6647

David Cresp0434 659 80908 9261 6600

CITY LINK PROJECT

Outlines indicative only

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controlling stake in Selangor are ownedby the Wen family through a BritishVirgin Islands trust structure.

Selangor assets include a stake in theKuala Lumpur-based HELP University,which has been set up to provideaffordable education.

The group’s Malaysian educationoperations are a major source of revenueand profit for the group, and it set up anAustralian division based in NSW in2011.

Selangor has property investments anddevelopment properties in Malaysia, aswell as a 50 per cent stake with developerBrookfield Multiplex in the prestigiousClaremont Quarter shopping centre.

The Claremont Quarter investment isproducing healthy returns under themanagement of Perth-based Hawaiian,led by longstanding Wen lieutenantRussell Gibbs.

It is understood Mr Wen gives theHawaiian team a lot of latitude in themanagement of the family’s Australianassets.

The family’s Australian assets couldwell surpass their Malaysianinvestments, considering its holdings inCBD properties such as London House,Parmelia House and 235 St GeorgesTerrace.

Its Perth suburban shopping centresinclude Bassendean Shopping Village,The Mezz in Mt Hawthorn and NorandaShopping Village.

If it is true that no man ever went broke making aprofit, this canny businessman will never be brokeand will probably die a billionaire.As the founder of Orbital Engine Corporation, who

got out before its shares headed south, Ral