Bloomberg Billionaires Index

View profiles for each of the world’s 500 richest people, see the biggest movers, and compare fortunes or track returns.

#447 James Packer $4.29B

Random fact: In cricket practice as a kid, father set ball machine over 100 mph.

Overview

Packer is the largest shareholder of Crown Resorts, operator of Australia's biggest casino. The Melbourne-based gambling and entertainment business also operates facilities in Perth and London, and is building a six-star resort in Sydney. It reported revenue of A$3.6 billion ($2.6 billion) in the 2016 fiscal year.

As of July 21, 2017:
Last change -$40.1M (-0.9%)
YTD change +$830M (+24.0%)
Industry Entertainment
Biggest asset CWN AU Equity
Citizenship Australia
Age 49
Wealth Inherited
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

James Packer's net worth of $4.29B can buy ...

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Latest News

Net Worth Summary

Cash
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Confidence rating:

The majority of Packer's wealth is derived from his 48.2 percent stake in publicly traded Crown Resorts. He controls the shares through Sydney-based Consolidated Press Holdings and associated companies, according to a Aug. 29, 2016 filing to the Australian stock exchange. This filing records the sale of approximately 35 million shares by Packer, which lowered his shareholding below 50 percent. Crown Melbourne is Australia's biggest casino, according to Crown's website in March 2017.

He also holds a 7 percent stake in Australian broadcaster Ten Network Holdings through Sydney-based Aidem Holdings, 15 percent of online recruitment company Zhaopin through Sydney-based Cavalane Holdings and more than 2 percent of U.S. real estate website Zillow through Sydney-based Ridgegate.

He's collected more than $2 billion in share sales and dividends since 2005 and received $1 billion when he sold his half of broadcaster and magazine publisher Consolidated Media to Rupert Murdoch's News Corp. in 2012. The value of his cash holdings is based on an analysis of dividends, market performance, investments, taxes and charitable contributions, including about $1.5 billion he's spent purchasing shares in Crown Resorts and other publicly traded companies since 2006.

Biography

Birthdate: 9/8/1967
Family: Separated, 3 children

James Packer was born into a media dynasty started by his grandfather, Frank Packer, and father, Kerry. The family's fortune was built through media company Publishing and Broadcasting, owner of Australia's biggest magazine publisher, which prints Sydney's Daily Telegraph, Women's Weekly and other titles.

Kery Packer was a gambler who opposed investing in casinos until 1999, when his son convinced him to buy Crown Casino, Australia's largest gambling company. The Packers teamed up with Hong Kong tycoon Stanley Ho to expand in to Macau in 2004, the year before Kerry Packer died.

James inherited the family business at 38 and within three years had sold most of its broadcasting and publishing stakes, as well as its cattle ranches, for more than $5 billion. He used the funds to build the stake in Crown, and became the company's controlling shareholder in December 2012.

Packer's expansion plans for Crown include a six-star casino in Sydney, which received backing in 2013 from the state government of New South Wales. Crown has two casino resorts on Macau through a joint venture with fellow billionaire Lawrence Ho.

Milestones
  • 1967 James Packer born in Sydney to media mogul Kerry Packer.
  • 1985 Works as 'jackeroo' trainee at cattle station in lieu of college.
  • 1996 Becomes managing director of Publishing and Broadcasting Ltd.
  • 1999 Completes $1.5 billion purchase of Crown Casino, Australia's biggest.
  • 2004 Starts Macau casino venture with Lawrence Ho.
  • 2006 Sells half of PBL to CVC, sheds 25 percent more in 2007.
  • 2013 Wins government approval for casino on Sydney's harbor.
  • 2017 Returns to the board of Crown Resorts.