Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Coal Magnate Tinkler Moves From Australia to Singapore

Nathan Tinkler
Nathan Tinkler, chairman of Aston Resources Ltd., poses in this handout photograph at an undisclosed location. Photographer: Martyn Rushby/Aston Resources Ltd. via Bloomberg

Nathan Tinkler, the Australian entrepreneur who last year helped orchestrate the sale of his mining assets for about A$2.6 billion ($2.6 billion) in stock, has moved his primary residence to Singapore.

The move will help relationships between 36-year-old Tinkler, the largest shareholder in Whitehaven Coal Ltd., and customers and investors in Asia, Tim Allerton, an external spokesman at City Public Relations in Sydney, said by phone.

“His investors, financiers and customers are all up in Asia and he feels the need to be closer to them,” Allerton said. The main office of his Tinkler Group would remain in Brisbane, and Allerton said he “wouldn’t have a clue” whether tax considerations played a part in the decision.

Eduardo Saverin, the co-founder of Facebook Inc., renounced his U.S. citizenship ahead of the company’s initial stock sale last month with the same justification of staying close to Asian markets. The move will save Saverin at least $67 million in U.S. capital gains taxes, according to an analysis by Bloomberg News.

Singapore doesn’t impose a tax on capital gains from asset sales and its top rate of income tax is 20 percent. In Australia, the top rate of income tax is 45 percent and capital gains are taxed as part of income.

Tinkler, a former electrician, made the decision a couple of months ago, Allerton said. He will spend about half his time overseas and his family will move to Singapore as well, he said. The relocation was reported in the Sydney Morning Herald June 9.

Coal Deals

Tinkler sold his house in 2006 to buy the A$30 million lease on the Middlemount coal mine in Queensland state before selling it to Macarthur Coal Ltd. for about A$465 million in cash and shares a year later.

He reaped a profit of about A$445 million selling his stake in Macarthur to the world’s largest steelmaker, ArcelorMittal, and in August 2010 bought the Maules Creek mine from Rio Tinto Group for A$480 million.

That formed the basis of his listed Aston Resources Ltd. vehicle, which was sold to Whitehaven Coal Ltd. last December for A$2.6 billion in stock.

Tinkler and his companies also own coal and metals mining projects, infrastructure investments, a horse-breeding operation, and the Newcastle Knights, a rugby league team in the Australian coal port of Newcastle.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.