Category Archives: WEALTHY PEOPLE

The Australian 37-year-old guy who retired as a self-made millionaire following two simple rules

In 1956, Warren Buffett was managing around half a million dollars. He was working from a tiny study that could be entered only by passing through his bedroom.

He handled everything personally: typing letters on an IBM typewriter, filing paperwork, doing his own taxes. And now, he’s one of the wealthiest people on the planet.

Chris Reining retired at the ripe old age of 37.

This got me thinking about what it means to be resourceful. That if being resourceful can put you on the path to riches, why aren’t more people resourceful?

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Domino’s boss scores massive multi million $$$$ pay day from cheap pizza

AUSTRALIA’S best-paid CEO has made his fortune selling pizza, it has been revealed.

A new report by the Australian Council of Superannuation Investors (ACSI) named Domino’s Pizza boss Don Meij as the country’s highest-earning CEO, after he took home a whopping $36.84 million last year.

The pizza boss made his dough after he exercised options to acquire shares worth $35.7 million.

Don Meij beat out Westfield’s Peter and Steven Lowy, who made a combined $25.9 million in 2017, and Macquarie’s Nicholas Moore, on $25.19 million, for the top spot.

After the news broke, Prime Minister Malcolm Turnbull said the pay packets of our company chief executives were “extraordinarily high”.

“As someone who most of his life has worked in businesses that I’ve only owned or been a partner in, I find the amount, the pay rates for people working as an employee for a lot of big public-listed companies extraordinarily high,” Mr Turnbull told 3AW radio on Tuesday.

He said Mr Meij’s salary “seems like a hell of a lot”.

“They’d have to be extremely productive,” he added.

The new figures reveal Aussie CEO’s are enjoying the fattest pay packets in 17 years.

ASCI chief executive Louise Davidson told the ABC the results showed CEO’s were not with it.

“At a time when public trust in business is at a low ebb and wages growth is weak, board decisions to pay large bonuses just for hitting budget targets rather than exceptional performance are especially tone deaf,” Ms Davidson said.

According to the survey, median-realised pay for ASX 100 chief executives rose 12.4 per cent to $4.36 million while bonus payments rocketed by more than 18 per cent.

Henry Sapiecha

Australian Wins Mega-Millions $1.3M Prize in Lotto-Land Draw

It was officially American Independence Day, but for one Australian, the fourth of July will be forever celebrated as the day she declared financial independence!

The 56-year-old Melbournian collected a whopping $1,315,650.04 for successfully matching five from five main numbers betting on the monster American MegaMillions Lottery.

The Victorian’s win becomes the single biggest prize claimed by a Lottoland member since the company launched in Australia last year.

Learn more about Lottoland’s lucky winner below plus how you can grab your slice of the jaw-dropping MegaMillions Jackpot.

How a Melbourne Mum Won Mega-Large on MegaMillions

“I’m numb. It’s happening? It’s happening to me?”

This was the first reaction of our lucky winner after being informed she had just won a jaw-dropping $1.31 million thanks to her bet on the Mega Millions lottery.

The grandmother to eleven signed up to Lottoland in January of this year and has been betting across the full range of Australian and International lotteries since. While she had collected a number of smaller wins, nothing could have prepared her for the life-changing sum that was about to come her way.

The lucky Lottoland member’s MegaMillions bet successfully matched 5 from 5 main numbers – 16, 39, 47, 53, 71. Her “completely random” set of numbers were enough to earn her the massive Division 2 prize – a staggering $1,315,650.04.

“I received a phone call from Lottoland and I was ecstatic,” said the new millionaire.

She immediately informed her husband of the exciting news and started making plans for her newfound freedom.

“I’m going to visit my family in Romania – I haven’t been there in 20 years – and maybe I’ll buy a house,” she added.

A big congratulations to our winner from everyone at Lottoland!

Winner Uses Subscription Feature to Win

Our Melbourne mum noted she has the Lottoland Subscription feature to thank for her win.

Subscription allows you the opportunity to register your chosen numbers for a set number of draws on your chosen lottery. For example, if you wanted to bet with the same numbers on MegaMillions for 6 weeks, you can set this up with a Subscription and Lottoland will take care of the rest for you.

Subscription allows you to rest easy knowing that you will never miss a bet on your favourite draw, just like our lucky Victorian above! You can amend your subscription as you go and opt out at any time. Find out more about subscriptions.

Download the App and Get Winning

Thanks to Lottoland, Australians now have the opportunity to win the gigantic jackpots that are offered in overseas lotteries. Why win a million when you can win a billion, right?

Whether it’s US Power, EuroMillions or MegaMillions, you now have the opportunity to win a jaw-dropping amount of cash.

The Lottoland App allows you to bet on local and overseas lotteries and is available for both iPhone and Android smartphones. Get it from the App store today, and start winning millions on your mobile tomorrow!

How Can I Win MegaMillions?

Despite the $1.3m MegaMillions win being more than what Australians can collect winning the jackpot on the local Monday/Wednesday lotto, it was actually only the Division 2 prize! The MegaMillions Division 1 Jackpot wasn’t won and climbs to a mind-boggling US $186 million* (approx. $245 million*) this Saturday.

To win the MegaMillions Jackpot, you need to pick 5 numbers from a range of 1-75 and one MegaBall from a range of 1-15. Match all five main numbers and the MegaBall and you will be rolling in a ridiculous amount of cash!

Our lucky Melbournian was actually just one ball away from winning the MegaBall Jackpot and being instantly catapulted into an Australian rich list. Her chosen MegaBall was the number 2, but had she selected the number 15, the MegaMillions jackpot was hers! Still, who can argue with a $1,315,650.04


Henry Sapiecha

Mystery Queenslander wins the complete $40M Oz Lotto jackpot!

UPDATE @ 11.15am: The hunt is on for the winner of last night’s entire $40 million Oz Lotto jackpot prize, with Golden Casket narrowing the search to the tropical Far North Queensland city of Cairns.

Earlier this morning Golden Casket revealed a Queensland entry had won the humungous Oz Lotto prize but with still no sign of the mystery winner, the selling city has now been revealed.

The entry, purchased at a Cairns Golden Casket outlet, was not registered to a Winners Circle Card so the identity of the new multi-millionaire remains a mystery.

Golden Casket is urging all Cairns residents and visitors who purchased a ticket in last night’s Oz Lotto draw to check their tickets.

EARLIER @ 8.30am: One Queenslander won the entire $40 million Oz Lotto jackpot last night, however the identity of the new multi-millionaire remains a mystery as the entry was unregistered.

The Queensland entry was the only division one winner, in what was the third highest Australian lottery jackpot of the year.

Queenslanders who purchased a ticket in the draw are being urged to check their tickets immediately.

Golden Casket spokesperson Matt Hart said he was eagerly waiting for Australia’s newest multi-millionaire to make contact and start the prize claim process.

“With $40 million up for grabs, last night’s Oz Lotto draw was one of the most hotly anticipated draws of the year and one Queensland player won it all!” he said.

“We can’t wait to confirm the humongous prize with our mystery winner! Just imagine how $40 million might change your life and the lives of your nearest and dearest.

“There are 40 million reasons why all Queensland players who had an entry in last night’s draw should check their ticket this morning.

“If you discover you’re holding the division one winning entry, hold on tight to that ticket and phone 131 868 as soon as possible so that we can start the prize claim process!”

We are on the hunt for x1 $40 Million unregistered QLD

Henry Sapiecha

Crystal Car Wash boss Anthony Sahade in a lather over council fine

Crystal Carwash boss Anthony Sahade is used to courtroom soap operas.

Mr Sahade, a Point Piper millionaire who has been in and out of Sydney courts for years over neighbourhood disputes on Australia’s wealthiest street, has most recently been in a lather about a fine from Randwick Council..He was expanding his wash facilites to cater for dogs

The council found an unauthorised dog washing set-up, including a basin and a fence, had been installed at a Crystal Car Wash site in Coogee in March 2015, and ordered its removal.

Mr Sahade then sought and was granted council approval for the dog grooming facility, and refused to pay a $1500 fine for the initial unapproved installation.

The matter went to court and his company Lenjade was convicted and fined $12,000, with $8000 legal costs.

Mr Sahade appealed the decision and last week the Land and Environment Court acquitted Lenjade, ruling there was not enough evidence to prove Mr Sahade directly authorised the development.

During the hearings, Mr Sahade likened managing franchisees to fatherhood.

“I tell my son, ‘You have to be home by 10 o’clock’ but he comes home at 11 o’clock and he uses his discretion and he’s sensible then it’s not a punishable sin. It’s no different to the franchisee having a go at putting a dog wash in to enhance his business,” Mr Sahade said.

“Even though it’s prohibited within the lease it’s not something that’s worth punishing him [for] because he’s doing what’s best for his business and what’s best for his business ultimately profits the whole Crystal Carwash chain.”

It is the latest in a string of legal proceedings involving Mr Sahade.

In 2014, the NSW Civil and Administrative Tribunal ordered Mr Sahade and his son Victor not to “threaten or act in an aggressive manner” towards their neighbours on a battleaxe block on Wolseley Road.

Senior member Richard Buckley said that, since May 2005, Mr Sahade’s conduct had been “characterised by a lack of civility, arrogance, threatening behaviour, a disdain for the rights of other lot owners and a disregard for the obligations imposed” by strata laws.

The same year, the Federal Court fined Crystal Carwash for underpaying workers by almost $180,000.

In 2012, Woollahra Council took Mr Sahade to court over a staircase at his mansion, which was built without permission.

Two months later, as Mr Sahade and a carpenter demolished the steps, a physical fight broke out with a neighbour.

CCTV footage of the fight captured Mr Sahade telling the neighbour: “You’re a goner”, various courts heard.

A magistrate dismissed assault charges against the car wash boss.

Henry Sapiecha

Shopkins success: Toy retailer Manny Stul wins EY global entrepreneurship award

Australian toymaker named best entrepeneur

Melbourne-based billionaire Manny Stul’s Shopkins success see him awarded EY’s World Entrepreneur of the Year title in Monaco.

Most Australian parents probably haven’t heard of Manny Stul, but they will know about his Shopkins.

Stul’s family-owned toy company, Moose Enterprise turned over $600 million last year and continues to carve out a global marketplace for its products, with its YouTube-friendly Shopkins range of dolls beating heavyweights like Barbie and Bratz.

The Melbourne-based toy maker beat 55 contestants to win the Ernst and Young World Entrepreneur of the Year title in Monaco at the weekend – the first time an Australian has won this award

Shopkins King Manny Stul celebrates his win at the EY World Entrepreneur awards ceremony in Monaco image

Shopkins King’: Manny Stul celebrates his win at the EY World Entrepreneur awards ceremony in Monaco.

The global title comes after Stul, 67, won EY’s Australian Entrepreneur of the Year. Last month the BRW Rich listed put Stul and his family’s wealth at $1.24 billion.

The accolades come despite a huge setback in 2007, when a craft bead produced by Moose had to be recalled because it was found to contain a chemical that turns into party drug “GHB” in the human body.

Judges noted the disaster in their comments.

Young-children-have-been-swept-up-in-the-Shopkins-craze image

Young children have been swept up in the Shopkins craze.

“Manny was our choice, not only due to his impressive growth, but also because the business he has nurtured has shown sustained global success. His mettle was tested when Moose faced a product recall that would have overcome less resilient and well-managed businesses,” said chair of the judging panel Rebecca MacDonald.

What are Shopkins?

For the uninitiated, Shopkins is a range of miniature toy characters fashioned on typically mundane items found in a supermarket.

What are Shopkins?

For the uninitiated, Shopkins is a range of miniature toy characters fashioned on typically mundane items found in a supermarket.

Shopkins have taken off worldwide.image

The brightly coloured figurines are no more than three centimetres tall. Kids can collect, share and trade the figurines, which have unique faces and names. For example, there is a chocolate chip biscuit named Kooky Cookie, a candy bar named Cheeky Chocolate and an apple named Apple Blossom. They are sold with tiny plastic shopping bags and baskets, ready to be filled, much to the delight of parents worldwide.

A Shopkins 12 pack typically retails for $13 in Australian stores, while Shopkins Donatina’s Donut Delights sells for $29 and a Shopkins Collector’s Case costs $20.

Most Australian parents know Shopkins image

Most Australian parents know Shopkins.

Stul has helmed the company for sixteen years, but credits innovation for the company’s success.

Movie move

Stul revealed his company would be releasing a movie based on one its products in October.

“Our next big move will be into entertainment and our next big move will be into licensing,” he said.

Stul claims Moose’s success in the US market is due to “cutting edge marketing”. Moose is the fifth biggest toy advertiser on American TV, he claims.

“We were the disrupter, and so there are people chasing us to where they perceive us to be,” he said.

“But we’ve moved way beyond that already.”

One-man band

Sixteen years ago, when Stul began his reign as CEO, he learned the nuts and bolts.

“I did everything myself, which was a very fortunate thing. Distribution, warehousing, finance, selling.

“I did all my own selling and packing for the first three years,” he said.

Now Moose currently employs around 50 people in Melbourne and 100 in China.

Stul credits his father, a cabinet maker, for teaching him how to handle staff.

“Everyone should learn this lesson”, he said.

“Whatever you pay a bad person is too much and whatever you pay a good person is not enough.”


Henry Sapiecha

Alibaba is (officially) coming to Australia

Alibaba targets Australian sellers

Chinese e-commerce giant Alibaba is about to set up an office in Australia, opening a giant opportunity for sellers.

When US internet giants mention Australia in passing – let alone actually visit the country or establish operations here – they are usually showered with media coverage.

But when China’s most valuable internet company, Alibaba, announced plans to open an office in Australia last week, it barely registered a whimper.

Alibaba, the e-commerce colossus that processed transactions worth $US149 billion in the December quarter alone, said at an event in Hangzhou last week it would open an Australian office “later this year”.

Jack Ma, executive chairman of the Alibaba Group, is now worth an estimated $US23 billion image

Jack Ma, executive chairman of the Alibaba Group, is now worth an estimated $US23 billion.

And Fairfax Media has learned it has already made one senior hire for that office: James Hudson, the chief executive of the NSW branch of the Australia-China Business Council, will join the business next month. John O’Loghlen, a New Zealand-born entrepreneur, has also joined the company, it said this week.

It is a significant development for the Australian retail sector. Yet as the Prime Minister and a 1000-strong business delegation swept through the world’s second-largest economy last week, far more trivial announcements, such as the Australian Football League’s plan to play a regular season game in the country next year, captured all the attention.

Alibaba, founded by entrepreneur Jack Ma and listed on the New York Stock Exchange with a market value of nearly $US200 billion, has had a senior executive, Maggie Zhou, in charge of the Australia and New Zealand region for at least two years. But she travels between China and Australia and has been based primarily in Hangzhou.

The company signalled that the move to establish an Australian office is designed to help local brands tap into the gigantic Chinese market, where Alibaba has 407 million active buyers on its platforms. However, the decision to establish a fully-fledged office in Australia will fuel speculation it sees an opportunity for Australian consumers to buy products on its sites.

“We see a lot of potential in the Australian market as Alibaba continues its globalisation efforts,” the company said in an emailed statement. It declined to provide any further details on its plans.

“We aim to have dedicated country operations to work closely with Australian merchants and partners, and it is our plan to establish an office in Australia in late 2016 to better help local brands and merchants to access to the Chinese consumer market.”

Australia ranked as the fifth top-selling country into China during the company’s global shopping festival last year, Alibaba said.

A number of Australian retailers, including Woolworths, Bellamy’s, Blackmores and Chemist Warehouse, have signed up to officially sell products on Tmall, Alibaba’s Chinese language platform used by businesses to sell goods to consumers on the mainland. Many well-known Australian products are sold on Alibaba properties by consumers to other consumers.

Last November, the company’s “Singles Day” promotion in China was blamed for creating a severe shortage of Australian baby formula products, including Bellamy’s.

Shadow networks of Chinese students and relatives, known as “daigou”, were said to be buying up organic baby formula at Australian supermarkets and reselling them at higher prices on Alibaba sites, forcing the likes of Woolworths to implement quotas.

The move also signals Alibaba’s intention to expand globally and assuage investor concerns over its international footprint. Alibaba shares are down 15 per cent since the company listed on the New York Stock Exchange in late 2014, underperforming the 5 per cent rise in the broader US market over that period.

Last year the company said it would expand into France, Germany and Italy. It has already established a foothold in the US.


Henry Sapiecha

Gina Rinehart loses top spot in Forbes Australia’s rich list


Gina Rinehart is no longer Australia’s richest person.

In the past five years Ms Rinehart has topped Forbes Australia’s rich list,  but this year she has been unseated by another woman – reclusive American heiress and longtime Australian resident Blair Parry-Okeden.


After the iron ore slump no more Australia’s richest person: Gina Rinehart. Photo: Lisa Maree Williams

Ms Parry-Okeden’s net worth of $US8.8 billion ($12.5 billion) makes her the country’s richest person (again) while Ms Rinehart has fallen to second place with a net worth of $US8.5 billion ($12.1 billion).

Forbes says Ms Parry-Okeden, who grew up in Hawaii and moved to her ex-husband’s country of birth Australia decades ago, was recently confirmed to be an Australian citizen.

After her mother’s 2007, death she inherited a quarter of US media conglomerate Cox Enterprises, America’s third-biggest cable TV company.

This is not the first time Forbes has named Ms Parry-Okeden as Australia’s richest person. She first took the title in 2009, overtaking mining magnate Andrew “Twiggy” Forrest for the top spot

Forbes says Ms Rinehart’s wealth has slipped $US3.2 billion in the past year, mainly due to falling iron ore prices and a legal ruling which impacted her shareholding in Hancock Prospecting.

Ms Rinehart’s wealth erosion was the largest in dollar terms, but fellow iron ore miner Andrew Forrest’s wealth took the biggest percentage hit: down 41 per cent, sending him down 12 spots on the rich list to No. 22.

Property baron Harry Triguboff ranks number three on this year’s list, with a net worth of $US6.9 billion ($9.8 billion).

Rising rents and increased demand for his Sydney apartments helped drive up Mr Triguboff’s fortune by $US1.3 billion, Forbes says.

Property sales of his apartment tower development company, Meriton, are expected to rise 70 per cent this year.

The biggest winner on the rich scale in percentage terms was Atlassian co-founder Mike Cannon-Brookes. His wealth jumped 62 per cent to $US1.78 billion after the successful float of the software company on the US sharemarket in December. Atlassian’s co-founder, Scott Farquhar, is right behind him.

James Packer fell two spots to sixth rank with an estimated fortune of $3.5 billion.


1) Blair Parry-Okeden, $US8.8 billion

2) Gina Rinehart, $US8.5 billion

3) Harry Triguboff, $US6.9 billion

4) Frank Lowy, $US5 billion

5) Anthony Pratt, $US3.6 billion

6) James Packer, $US3.5 billion

7) John Gandel, $US3.2 billion

8) Lindsay Fox, $US2.8 billion

9) David Teoh, $US1.95 billion

10) David Hains, $US1.9 billion



Henry Sapiecha

3 personality traits of famous billionaires

After analysing more than 900 self-made billionaires, the majority of which have made their fortunes during the past 20 years, UBS and PwC have revealed the top three personality traits.

Making money come to you.

make money come to you magnet image

1. An appetite for smart risk-taking

The first trait that is essential for entrepreneurial success is an appetite for smart risk-taking, according to the recent Billionaire Report.

“Self-made billionaires tend to have a very optimistic attitude towards risk, focus on risks they understand and find smart ways to reduce them,” said the report.

“What’s more, their keen instinct for risk and opportunity often allows them to exit at the peak, transferring risk to others.”

The report identified three elements of smart risk-taking among billionaires, starting with a risk profile that is “skewed towards focusing on the upside and being realistic on the downside”.

“They’re afraid to lose by not capturing an opportunity, tending not to worry about the downside of a new venture failing but instead being concerned about missing out on the upside,” the authors said.

The second part of being a smart risk-taker is looking for opportunities where there is already an advantage. “In these situations the risks for anybody without these advantages will appear high and they are likely to walk away,” the report found.

And the third element is the ability of self-made billionaires to recover from failure, often by keeping enough resources to enable that recovery and being ready to “pivot” or adjust an idea until they succeed.

2. Obsessive business focus

The second key personality trait of self-made billionaires identified in the report is obsessive business focus. “Self-made billionaires are constantly scanning the world for untapped opportunity,” the report said.

“Curiosity is a core skill of most self-made billionaires we met. This curiosity is constantly driving them to look for unmet customer needs that create a significant business opportunity.”

After the opportunity is identified, these billionaires “switch to an extremely focused modus operandi in execution that some observers could call ‘tunnel vision’,” the report found.

“One interviewee compared this to a fighter pilot who focuses on the horizon and totally ignores things at the edge of his sight.”

3. Dogged determination

And the third trait that is found among the world’s billionaires is, unsurprisingly, “dogged determination”. “Billionaires are highly resilient,” the report said.

“Undeterred by failures and roadblocks, they have a tremendous work ethic. They confront and overcome obstacles, persevering in the face of adversity.”

“Our interviews showed that self-made billionaires often tend to be serial entrepreneurs who learn from their mistakes and doggedly work towards great wealth creation.”

But while there may be a clear link between these three personality traits and high levels of wealth creation, Eve Ash, psychologist and chief executive of Seven Dimensions, told SmartCompany the same traits are often present among all business owners and entrepreneurs.

“Certainly the optimism factor, which is coupled with clever risk-taking,” Ash says. “It’s the feeling of not having the fear or being able to manage what some other people might find paralysing.”

Ash says often a positive experience that came about by an individual taking a risk can contribute to this trait, as can an upbringing in a family that encouraged entrepreneurship. Although Ash says sometimes this can work in reverse, with the children of a family where the parents worked in long-term jobs for other people instead choosing to “break away” and start their own company.

The billionaires analysed in the report have generated combined wealth of $US3.6 trillion, with US-based entrepreneurs having created the most wealth, especially in the technology and finance sectors.

However, the report found “Asia’s new industrialists, consumer product tycoons and real estate investors” are also in the mix, with rising real estate and capital markets playing a strong role in the creation of new billionaires.

Self-made billionaires usually start young but most do not hit the billion-dollar mark until well after they turn 40. Close to a quarter of billionaires looked at in the research (23%) launched their first business venture before the age of 30, while over two thirds (68%) got their first venture off the ground before turning 40.

Having some corporate experience appears to pay off, with almost half of the billionaires having worked in a large organisation before going solo. A large majority (82%) had completed tertiary studies.


Henry Sapiecha

The Super-Rich and Us BBC VIDEO Documentary 2015 Episode 1&2 Rich People VS Poor People UK


Published on 8 Jan 2015

The Super-Rich and Us Season 1 Jacques Peretti investigates why the super-rich were drawn to Britain.
The Super-Rich and Us BBC Documentary 2015 Episode 1 Rich People VS Poor People UK
In a series about the extraordinary stories behind maps, Professor Jerry Brotton uncovers how maps aren’t simply about getting from A to B, but are revealing snapshots of defining moments in history and tools of political power and persuasion.
Visiting the world’s first known map, etched into the rocks of a remote alpine hillside 3,000 years ago, Brotton explores how each culture develops its own unique, often surprising way of mapping. As Henry VIII’s stunning maps of the British coastline from a bird’s-eye view show, they were also used to exert control over the world.
During the Enlightenment, the great French Cassini dynasty pioneered the western quest to map the world with greater scientific accuracy, leading also to the British Ordnance Survey. But these new scientific methods were challenged by cultures with alternative ways of mapping, such as in a Polynesian navigator’s map which has no use for north, south and east.
As scientifically accurate map-making became a powerful tool of European expansion, the British carved the state of Iraq out of the Middle East. When the British drew up Iraq’s boundaries, they had devastating consequences for the nomadic tribes of Mesopotamia.


Henry Sapiecha