Clive Palmer

Name: Clive Palmer

Country:Australia

Date of birth:26 March 1956, Footscray, Victoria

Education: University of Queensland, Law (dropped out after a year)

Type of Business:Mining Company

Main Achievements:Founding Mineraology in 1986, Acquiring Waratah Coal (2008) and Queensland Nickel (2009), Serving as a member of the National Party 1986-2013, Founding the Palmer United Party

Something interesting about the person:He once twerked on the Kyle and Jackie show / He has asthma/ Despite never completing his degree Clive Palmer has taught in Deakin University and Bond University

Image is taken from Courrier Mail showing Clive Palmer in 1999

Biography

Clive Palmer was born in Melbourne to a working-class catholic and anti-communist family. They moved to Queensland later on. His father was a well-established travel agent as well as the owner of Akron Tyre Co. Clive enrolled in law, journalism, and politics at the University of Queensland in 1973 from which he dropped out of the next year. He did, however, manage to finish the law diploma from the Queensland Bar Board. He even managed to get a job at a law firm, but he eventually left after receiving a death threat, according to Green Left.

Venturing into the property business, he became a real estate agent during the ’80s. It was during this time that Palmer made his fortune. Because of the favorable economic conditions at the time, he was able to buy property at low prices and eventually started selling them at high rates.

As a result, he also became an active member of the Country Party (later renamed National Party) as the media director for the party. However, during 1986 he faced allegations that Russ Hinze had overturned an unfavorable decision for Palmer. The Sunshine Coast Council.

Clive had wanted to build a set of 66 townhouses in Little Mountain, Caloundra. However, local residents had petitioned not to let the project take place. In 2002, when he attempted to acquire permission to build eight townhouses instead, he was rejected once again by the Sunshine Coast Council.

Due to his flourishing business, Palmer acquired money to invest in the mining industry. He founded Mineraology in 1986, which managed to get a hold of Iron Ores in the west of Australia. In 2006 he leased out the mines to CITIC a Chinese investment company for 3 billion, earning royalties from all the ore that was extracted from his mines. However, in 2014, Clive had a fallout with them, which led to a series of lawsuits. According to the Australian, Financial Review Palmer won obtaining 8 billion dollars in 2019. CITIC began another trial to get the money back while Clive Palmer is suing them for $5 billion.

In the year 2009, Clive bought Queensland Nickel, Palmer Nickel and cobalt refinery.  The business fared well initially, and he provided lavish gifts to his staff (like gifting 55 Mercedes Benz to his employees). However, the price of nickel fell drastically, and in 2016 his company decided to walk towards a “voluntary administration after the price of the nickel crashed,” according to People Pill. Though Clive initially

In 2019 his company Waratah Coal (a business Clive acquired in 2008) decided to present a plan to build two coal mines in Galilee Basin in the West of Queensland. The proposal was rejected by state premier Palaszczuk. Though his company has since then appealed multiple times in 2019 to start the project. There is no definitive answer to whether this project will be approved or not.

Though Clive is mostly known for his business ventures, he has been very active In Australia’s political landscape. As a member of the National Party, he managed the campaign efforts to get Joh Bjelke-Petersen reelected though it did not prove fruitful. He left the party in 2012 because of his disputes with the leaders of the party founding his own the Palmer United Party winning a seat in Fairfax in 2013. It did not last, however, and he announced plans to disband it in 2017. The following year, he revived the party, changing its name to the United Australian Party. Even though he contested for the senate in 2019, he lost.

Links:

  1. https://www.couriermail.com.au/news/queensland/new-biography-recounts-the-events-that-have-moulded-largerthanlife-queensland-billionaire-clive-palmer/news-story/362937856e6f1425977f732bd3de2172
  2. https://www.greenleft.org.au/content/sordid-history-clive-palmer
  3. https://www.afr.com/rear-window/the-tricky-business-of-clive-palmer-20190502-p51jel
  4. https://peoplepill.com/people/clive-palmer/