Kerr Neilson

 

Kerr Neilson

Name: Kerr Neilson

Country: Australia

Date of birth: 1950

Type of business: Investment

Education: Bachelor’s degree in Arts/Science

 

Main achievements:He has founded the Platinum Asset Management. He also owns Sydney’s Castlecrag’s waterfront reserve home. The house is worth $5.3 million. He was ranked as the 34th richest Australian by Forbes in 2019. He also made to the billionaires list of Forbes, 2019. As of 2020, Neilson has a net worth of $1.1 billion.

Something interesting about Kerr Neilson

Kerr Neilson was began his journey into the world of investment at a very young age. He bought the first share of his life at the age of 10. Moreover, Neilson possesses serious passion for art, hence, sparing his share to be devoted for it. He possesses an art gallery in Chippendale, known as White Rabbit Gallery.  Considering Neilson’s expenditure of $5 million on Landmark property in Millers Point, his interest in historical houses become quite evident.

Biography

Born in Johannesburg, Kerr Neilson is an Australian billionaire who got married to Judith Neilson. They had two children together, Beau Neilson and Paris Neilson. In 2015, the couple got divorced. Kerr and Judith established a White Rabbit Gallery in Sydney, Australia. The gallery was made in 2009 and aimed at sharing the couple’s diverse collection of Chinese art with people. Neilson’s ownership of Platinum Asset Management is shared with Judith, his ex-wife. The Platinum was founded by the couple in 1994. In a 2007 QPO, the couple cashed the property out partially. Ten years after founding Platinum, Neilson started working for Bank Trust Australia as a retail funds management head.

Neilson’s investments career commenced with London’s department of Courtaulds. For founding Platinum, he gained the initial support from George Soros. The management funds of Platinum are estimated to be around $US16 billion. The company deals with international equities. Neilson levitated 20% of Platinum on Australian Stock Exchange in 2007. He possessed Platinum’s shares worth A$2.9 billion that included him in Australia’s richest people. Kerr Neilson is known I the investment community for picking high-performing stocks. Nevertheless, the deterioration in investment income in the fiscal year 2012 resulted in a prominent decline in his net profit. Neilson decided to quit on boosting his base salary, a performance bonus. In the financial year of 2012, Neilson produced a sum total of A$42 million.

In 2018, the iconic investor stood down from his designation as Platinum Asset Management’s Chief Executive. In 2019, it was reported that Kerr Neilson and his ex-wife, Judith, were intending to sell 10 percent shares of Platinum. The strategy was to spare $300 million for philanthropic causes and Neilson’s passion for art, moreover, to extend their individual investments. They also shared that each of them would sell shares worth 300 million at the rate of $5 per share.

Kerr Neilson’s value-based contrarian stock selection has made him earn comparison with Warren Buffett. The billionaire investor is the new owner of Sydney’s Castlecrag’s waterfront home worth $5.3 million. Apart from that, Neilson also owns a four-bedroom house in the lower North shore of Sydney.

Kerr Neilson’s philanthropic nature is reflected through his establishment of The Neilson Foundation. This organization was founded in 2007 and is meant to encourage charities that promote social cohesion, as well as to support arts. Since its establishment, the foundation has given away a sum total of $98.7 million to support its cause. In particular, it focuses to enrich Sydney’s and Australia’s cultural landscape, hence promoting art. Moreover, it empowers people encountering disadvantage of serious extent. The groups supported by the foundation include migrants, victims of domestic violence, vulnerable youth, and people facing mental health issues.

Links related to articles about Kerr Neilson

https://www.forbes.com/profile/kerr-neilson/#490bbba34fe0

https://www.smh.com.au/business/banking-and-finance/billionaire-neilson-sells-down-stake-in-fund-manager-he-co-founded-20190319-p515l2.html

https://www.bloomberg.com/profile/person/2249043