$1.7 billion (US) in net worth
Age: 84
DOB: 18th Sept 1939
Birthplace: Springwood, New South Wales
About Gerry Harvey
Gerry Harvey is an iconic Australian businessman who has left an indelible mark on the country’s retail landscape.
Currently aged 84, Harvey’s journey to entrepreneurial success is nothing short of remarkable. He co-founded Harvey Norman – a household name synonymous with consumer electronics, furniture, and appliances. Under his visionary leadership, the company expanded from a single store in Sydney in 1982 to a nationwide retail giant with a global presence.
Gerry Harvey’s relentless commitment to innovation and business acumen has solidified his reputation as a pioneer in the retail industry. His bold strategies and willingness to adapt to changing consumer preferences have helped Harvey Norman thrive in the face of economic challenges and evolving market dynamics.
Beyond his business endeavours, Gerry Harvey is known for his philanthropic efforts, supporting various charitable causes and advocating for Australian manufacturing. Overall, his enduring impact on the Australian business landscape and society at large makes him a quintessential figure in the nation’s commercial history.
Early Life and Education
As a child, Harvey attended schools at Bathurst and Katoomba prior to relocating to Sydney to attend university aged 17 – however, he dropped out after a couple of years.
Although he wanted to be a farmer, he got a job for Goodwins of Newtown primarily selling fridges and vacuum cleaners door-to-door, which was his introduction to the retail industry.
How Did Gerry Harvey Accrue His Wealth?
Gerry Harvey has primarily accumulated wealth through his involvement in the retail industry.
Along with his business partner Ian Norman, he founded Harvey Norman in 1982. The company initially started as a single electrical and computer store in Sydney, Australia. Over the years, it expanded its product offerings to include furniture, bedding and homeware – becoming one of Australia’s largest and most recognisable retail chains.
Under Gerry Harvey’s leadership, Harvey Norman grew rapidly and expanded its domestic and international presence. The company operates numerous retail stores across Australia, New Zealand, Europe and Asia. It has become a one-stop shop for consumers, offering a wide range of products, from electronics and appliances to furniture and bedding.
In addition to Harvey Norman, Gerry Harvey has diversified his investments into various sectors, including property development, agriculture and horse racing. His interests also extend to media, as he has owned a stake in the radio and television industry.
Gerry Harvey’s success can be attributed to his keen business acumen, the ability to adapt to changing consumer trends and a strong entrepreneurial spirit. His visionary approach to retail and investments has played a pivotal role in amassing his substantial net worth, consistently placing him among Australia’s wealthiest individuals.
Thoroughbreds
Since the turn of the century, Harvey has maintained an interest in breeding racehorses.
As the owner of Baramul Stud, he now possesses one of the biggest thoroughbred portfolios in the world – totalling more than 600 thoroughbreds.
Additionally, he owns a 50% stake in Magic Millions, which is one of the Australian racing industry’s most high-profile auction events for thoroughbreds.
Personal Life
Harvey is married to Lynette, his second wife and they have two children. In his free time, he enjoys playing golf or tennis, gardening and taking long walks.