Net Worth: c. US$960 Million
Age: 74
DOB: 17 October 1949 (age 74)
Birthplace: Johannesburg, South Africa
Hailing from South Africa but now based in Australia, Kerr Neilson is a phenomenally successful investment manager who also co-founded Platinum Asset Management.
Due to his savvy business skills and ability to choose stocks that perform well Neilson has gained the nickname of ‘Australia’s Warren Buffett’. He is also well known for being the ex-husband of the billionaire businesswoman Judith Neilson.
As of February 2023, Forbes estimated his net worth to be US$960 million. Below is an overview of how he made his fortune.
Early Life and Education
Kerr Neilson was born on 17th October 1949 in Johannesburg, South Africa. Unlike other kids who were interested in sports, girls and having fun, Neilson showed an interest in investment management from a young age. Indeed, he made his first stock purchase when he was only 13 years old.
Neilson was born into a family that had a rich history of innovation that dates back to the Industrial Revolution in Scotland. One of his ancestors, a Scottish inventor called James Beaumont Neilson, invented the hot-blast process, which was highly effective in smelting iron and it significantly increased the process’s efficiency.
In 1971, Neilson graduated from the University of Cape Town with a Bachelor of Commerce degree.
Early Career
After graduating from university, Neilson briefly moved to London, where he received training as an investment analyst from John Evans while working in the pensions department of Courtaulds. He returned to South Africa in 1972 where he served as the head of research at Anderson Wilson Stockbrokers – a role in which he excelled.
In 1983, Neilson made the decision to emigrate to Australia. Shortly after arriving in the country, he took up a role in the funds management division of Bankers Trust Australia, where he again impressed with his business savvy, work ethic and various achievements.
Founding Platinum Asset Management
In 1994, Kerr Neilson, along with his wife, Judith, co-founded Platinum Asset Management. This move marked a significant turning point in Neilson’s career, as he set out to build an investment firm that would be known for its independent thinking and contrarian investment strategies.
Platinum Asset Management differentiated itself by adopting a global approach to investing. Neilson’s vision was to transcend geographical boundaries and tap into opportunities around the world, rather than confining the investment focus to a specific region. This bold and unconventional approach set Platinum Asset Management apart in the industry.
Contrarian Investment Philosophy
One of the hallmarks of Neilson’s investment philosophy is his commitment to contrarian thinking. Instead of following popular trends or market sentiment, he has often chosen to go against the grain. This contrarian approach has paid off handsomely for Platinum Asset Management and its clients.
Neilson’s willingness to take calculated risks and invest in areas that others might shy away from has been a driving force behind the success of Platinum. The firm’s ability to identify undervalued assets and emerging market opportunities has consistently delivered strong returns, earning the trust and loyalty of its investors.
Navigating Economic Challenges
Throughout his career, Kerr Neilson has demonstrated a remarkable ability to navigate through economic uncertainties and market fluctuations. Whether it was the Asian financial crisis in the late 1990s or the global financial crisis of 2008, Neilson’s steady hand at the helm of Platinum Asset Management ensured that the firm not only weathered the storms but emerged stronger.
His pragmatic and disciplined approach to investment, combined with a deep understanding of global markets, has allowed Platinum to adapt to changing economic landscapes and capitalise on opportunities that arise during challenging times.
Philanthropy and Beyond
Beyond his achievements in the financial world, Kerr Neilson is also recognised for his commitment to philanthropy. Together with Judith, he established the Neilson Foundation – a charitable organisation that has given millions of dollars to various causes, including education, medical research and the arts.
Moreover, Neilson’s involvement in philanthropy reflects a broader commitment to making a positive impact on society. His belief in using wealth to address social issues and contribute to the well-being of communities is a testament to the holistic approach he brings to both his personal and professional life.
Personal Life
For a long time, Neilson was married to his wife Judith, with whom he has two adult children. However, they divorced in 2015.
Prior to that, they both opened and established the White Rabbit Gallery in 2009 in Chippendale Sydney. The main reason for doing so was to display the contemporary Chinese art collection Judith has acquired since the year 2000, from visits every quarter to art galleries and studios all over China.
Closing Thoughts
Kerr Neilson’s life and career to date have been a compelling story of ambition, resilience and a commitment to excellence. From his low-key beginnings in South Africa to the heights of success in the world of Australian finance, Neilson’s journey should be an inspiration for those who dare to dream big.
As an Australian businessman, Kerr Neilson has not only shaped the trajectory of Platinum Asset Management but has also contributed to the broader conversation on global investing. His legacy, both as a successful entrepreneur and a philanthropist, underscores the multifaceted impact that business leaders can have on society.
Overall, Kerr Neilson embodies the idea that with vision, determination and a willingness to challenge the status quo, one can achieve remarkable success and leave a lasting legacy.