Harry Triguboff, an Australian billionaire businessman born in China in 1933, is widely recognised as Australia’s ‘Apartment King’.
As the founder and Managing Director of Meriton Group, he has amassed immense wealth through his extensive property development ventures. Triguboff’s real estate empire spans residential, commercial, and hotel properties, making him one of the most influential figures in the Australian property market.
His shrewd business acumen and dedication to high-quality, affordable housing have catapulted him to the ranks of Australia’s wealthiest individuals and left an indelible mark on the nation’s skyline.
Stats:
Net Worth: US $15.5 bn
Age: 90
Born: 3 March 1933
Birthplace: Dalian, China
How did Harry Triguboff make his money?
Harry Triguboff’s wealth can be attributed to his success as a property developer and his astute business acumen. Here are some key factors that have contributed to his immense wealth:
Property Development: Triguboff is best known for his expertise in property development. He founded Meriton Group in the 1960s, focusing on residential apartment construction in Sydney. Over the decades, he has developed thousands of high-rise apartments and residential complexes, which have become landmarks in the Australian real estate market. These developments have generated substantial revenue and profits.
Market Timing: Triguboff’s success is often attributed to his ability to identify market trends and seize opportunities at the right time. He entered the property market when there was a growing demand for apartments in Australia’s major cities, particularly Sydney. His developments catered to this demand, leading to substantial sales and profits.
Quality and Affordability: Triguboff’s strategy involved providing high-quality yet affordable housing options. This approach resonated with a wide range of buyers, from first-time homeowners to investors, further boosting his sales and reputation.
Diversification: While residential development is his primary focus, Triguboff has also ventured into commercial real estate and hotel development. Diversifying his portfolio has provided additional sources of income and revenue stability.
Long-Term Vision: Triguboff’s success is not just about short-term gains but also his long-term vision. He has consistently reinvested in his projects and maintained ownership of many properties – benefiting from the appreciation of real estate values over time.
Financial Discipline: Triguboff has been known for his financial prudence and the ability to manage risks effectively. This has helped him weather economic downturns and market fluctuations.
Persistence and Resilience: He has faced challenges and setbacks in his career but has remained persistent and resilient. His determination to overcome obstacles has played a significant role in his success.
Land Acquisition: Triguboff has been proactive in acquiring land in strategic locations, often ahead of market trends. This has allowed him to secure prime real estate for his developments.
Harry Triguboff’s wealth is a testament to his keen understanding of the property market, his commitment to quality and affordability and his ability to adapt to changing market conditions.
His role in shaping Australia’s urban landscape and providing housing solutions has not only earned him vast riches but also a prominent place in the country’s business history.
Personal Life
Harry Triguboff was born to Russian-Jewish parents in Dalian, China. When he was a child, he immigrated with his family to Australia, growing up in Sydney.
Triguboff married his second wife in 1980 and has three children. To maintain their privacy, he has largely kept his family out of the public eye.
Due in part to his Jewish heritage, Triguboff has supported various causes and organisations that help the community. He also has a notable collection of classic cars.