$4.9 billion (US) in net worth
Age: 83
DOB: 13 September 1940
Birthplace: Melbourne
About Kerry Stoke
From very humble beginnings and a tough upbringing, Kerry Stokes has become one of Australia’s most influential businessmen.
He is known for his exceptional contributions to the country’s media, mining, and construction industries and has achieved phenomenal success, thanks in large part to his business acumen and visionary leadership.
Stokes initially gained prominence in the construction industry, where he founded the Australian Capital Equity (ACE) Group, a conglomerate that expanded into diverse sectors, including media and mining. He is the chairman of Seven Group Holdings, a major Australian diversified operating and investment group encompassing interests in several sectors. They include media through Seven West Media, heavy machinery and equipment through WesTrac and energy and resources through Beach Energy.
Aside from his business prowess, Stokes is known for being an avid art collector and philanthropist – making significant contributions to both the cultural and charitable sectors in Australia.
How Did Kerry Stokes accrue his wealth?
Kerry Stokes has generated significant wealth through strategic business investments and entrepreneurial acumen.
He is best known for his involvement in the media industry, acquiring a significant stake in the Seven Network (one of Australia’s major television networks) in the 1990s. Since then, his company, Seven Group Holdings, has continued expanding its media holdings, including newspapers, magazines and online platforms. Subsequently, the media sector has been a consistent source of revenue for him.
At the same time, Stokes diversified his investments into the mining and resources sector through companies like Beach Energy. These investments have paid off handsomely, particularly as demand for resources – including natural gas and minerals – has grown in Australia and abroad.
Stokes also founded the Australian Capital Equity (ACE) Group, initially starting in the construction and engineering business. Over time, ACE expanded into industries like telecommunications infrastructure and property development.
Additionally, through WesTrac – a subsidiary of Seven Group Holdings – Stokes has a significant
presence in the heavy machinery and equipment industry. WesTrac is the authorised dealer for Caterpillar equipment in Western Australia, New South Wales and the Australian Capital Territory – in what is a lucrative deal.
Elsewhere, Stokes has made several strategic investments in various sectors, ranging from agriculture to technology. These investments have diversified his portfolio, contributing further to his accumulation of wealth.
He also has a valuable collection of international and Australian artworks – some pieces of which are worth a lot of money.
Awards, Recognition and Philanthropy
Stokes has received several awards over the years in recognition of his services to business in Australia and internationally.
These have included Officer of the Order of Australia in 1995 and Companion of the Order of Australia in 2006.
In November 2012, he was named Western Australia’s ‘Australian of the Year’, primarily for his attempts at preserving military artefacts. This included buying three Victoria Cross medals which he subsequently donated to the Australian War Memorial.
Stokes has also been made a life member of the RSL of Australia, while Rotary International bestowed upon him the prestigious Rotary Paul Harris Fellow Award.
About the Man
Stokes has been married four times and has four children and three grandchildren. His fourth wife, Christine Parker, was a newsreader for Channel 10, a rival station when they first met.
Kerry was born to an unmarried mother, so was put up for adoption. After being adopted by Matthew and Irene Stokes, he grew up in a slum housing area in Camp Pell.
Stokes dropped out of school when he was 14. However, he always held a passion for the arts, which eventually saw him serve as the chairman of the National Gallery of Australia for several years – and make several multi-million-dollar donations to them.