Anthony Pratt (businessman)

Anthony Pratt
Born Anthony Joseph Pratt
(1960-04-11)11 April 1960
Melbourne
Residence Melbourne, Australia
New York City, New York
Citizenship Australia
Alma mater Monash University
Occupation Executive Chairman of Visy Industries and Pratt Industries
Organization Visy Industries and Pratt Industries
Net worth
Board member of
Religion Judaism[3]
Partner(s) Claudine Revere
Children Leon and Lilly[3]
Parent(s)
Relatives
  • Heloise Waislitz (sister)
  • Fiona Geminder (sister)

Anthony Joseph Pratt (born April 11, 1960), an Australian businessman and billionaire, is the Executive Chairman of Visy Industries and Pratt Industries United States, the world’s largest privately owned packaging and paper company.[4] According to the 2016 BRW Rich 200, Pratt and his family have a net worth of A$10.35 billion; the second richest in Australia.[5] Forbes assessed Pratt's net worth in 2016 at US$4.2 billion;[6] listing his sisters' wealth independently.[7][8]

Pratt is the son of former manufacturing magnate and President of the Carlton Football Club Richard Pratt and his wife philanthropist Jeanne Pratt AC.[9]

Early life and education

Pratt was born in Melbourne, Victoria to Richard Pratt (né Przecicki) and Jeanne Pratt AC, Polish-Jewish immigrants.[10] He graduated from Monash University, Melbourne, with a Bachelor of Economics (Hons) in 1982.[11]

Career

Pratt joined the management consulting firm of McKinsey & Co in 1982, before joining Visy as joint General Manager of its board.[12] In 1988, he became Deputy Chairman of Visy Industries. Three years later, he moved to the United States to lead the company's expansion there. Over the next 15 years, Pratt Industries grew 15-fold in sales and earnings, through greenfield initiatives and the acquisition of several corrugated manufacturing companies that now form the heart of Pratt Industries. Company revenues grew from US$100 million in 1991; and by 2016 revenue was US$3 billion.[13][14] During that same period, Pratt Industries grew from the 46th largest corrugated box producer in the U.S. to the 5th largest. It is the only major paper container board company that is 100 percent recycled. Pratt Industries employs more than 5,800 staff at its mills and box plants throughout the USA – more US citizens than any other Australian company.[12][15] In 2016, Pratt was awarded the RISI North American Packaging CEO of the Year Award.[15][16] That same year, Pratt opened a 100% recycled paper mill near Chicago, adding about US$1 billion to Pratt’s wealth.[1] Also in 2016, Forbes ranked Pratt Industries #181 on its list of "America's Largest Private Companies."[17] In addition, Pratt's Visy, which employs 5,500 people in Australia, was named Australia's largest private company by revenue.[18]

[12]

Although Pratt remains Chairman of the American arm of the family’s packaging empire, he returned to Australia to take over as Executive Chairman of Visy following the death of his father, Richard, in 2009. Visy's corporate reputation index ranking went from #43 to #3 between 2009 and 2011.[19]

Personal life

Pratt sits on the National Board of the Muhammad Ali Center in Louisville, Kentucky, and is also active in numerous charity organizations throughout Australia and the United States. In 1998, he arranged for Muhammad Ali to visit Australia for the Australian Football League grand final, as well as for a subsequent trip two years later.[20] Pratt is a member of the Climate Group, an international environmental group founded by former British prime minister Tony Blair. He has been honoured for his efforts by Mikhail Gorbachev's Global Green USA and Ted Turner's Captain Planet Foundation. Pratt is a member of the United States Studies Centre at the University of Sydney.[12]

In 2007, Pratt committed to former President Clinton’s Global Initiative to invest more than US$1 billion over the ensuing decade in recycling infrastructure and clean energy,[12] citing recycling as an important but underestimated weapon in the fight against climate change, because landfills emit more greenhouse gases than all of global aviation.[21][22] He fulfilled his pledge five years early.[23] In 2009, Pratt was honored by the New York-based Foreign Policy Association, with its Corporate Social Responsibility Award.[24][25]

Since taking over the company, Pratt has taken a strong interest in sustainable agriculture, food security, and water issues, stating frequently that his motivation is that 70% of his Australian customers are in the food and beverage sector.[26]

In April 2013, Pratt gave the keynote address at the Global Food Forum, an international conference on food security, which he organized in partnership with The Australian newspaper. He said it was possible for Australia to quadruple its current food production, through greater support for farmers and food companies, and to eventually feed 200 million people.[27] The conference attracted leading political, agribusiness, food-industry, and academic figures.[28] In October 2016, Pratt officially sponsored The Wall Street Journal's launch of the inaugural U.S.-based Global Food Forum.[29] In his opening remarks, Pratt called on food industry leaders to start a national conversation about how to double the size of the American food industry to US$1.8 trillion and thereby create millions of new jobs.[30]

In September 2013, Pratt was elected an executive member of the Australia-Japan Business Cooperation Committee, a group dedicated for more than 50 years to strengthening ties between the two countries.[31] In October 2013, Prime Minister Tony Abbott invited Pratt on an official visit to Indonesia – the first overseas trip by the incoming leader.[32] Later that month Pratt announced that former advisor to President Obama and the outgoing US Ambassador to Australia Jeffrey Bleich would join the Pratt Group advisory board.[33]

In 2013, Pratt was awarded an honorary PhD by Monash University, for an "outstanding career of achievement and service to philanthropy, business and commerce."[34]

He is also a member of the Australian-American Leadership Dialogue, which seeks to strengthen and deepen the ties between Australian and American leaders.[35]

Pratt and his family split time between New York and Melbourne.[15]

Wealth rankings

Pratt first appeared on the BRW Rich 200 in 2009, following the death of his father earlier that year. He debuted as the richest person in Australia with a net worth of A$4.3 billion.[36] In subsequent years, his wealth increased; however, those with interests in the then rapidly growing Australian resources sector came to dominate the list in the subsequent years.[37][38] Since 2009, the BRW Rich 200 and the Forbes Asia list of Australia's 50 Richest People generally assessed Pratt's net worth on a similar basis, aggregated with his family. However, in 2015, Forbes reported the wealth of Pratt separate to the net worth of his two sisters, Fiona Geminder and Heloise Waislitz.[39][40][7] In 2016, Pratt's net worth was assessed as A$10.35 billion on the BRW Rich 200 list; and US$4.2 billion by Forbes.[1][40]

In 2016, the Australian Taxation Office revealed that despite more than $2.5 billion in revenue in 2013-14, Pratt Consolidated Holdings had not paid any taxes.[41] In response, Pratt said, "All I can say is that we abide by all the laws, as any good ethical company does."[15]

Year BRW
Rich 200		 Forbes
Australia's 50 Richest
Rank Net worth (A$) Rank Net worth (US$)
2009[36] 1 Increase $4.30 billion Increase
2010[36][42][43] 2 Decrease $4.60 billion Increase
2011[44][45] 4 Decrease $5.18 billion Increase 7 Increase $2.70 billion Increase
2012[46][47] 5 Decrease $5.45 billion Increase 7 Steady $3.40 billion Increase
2013[13][48] 4 Increase $5.95 billion Increase 7 Steady $4.50 billion Increase
2014[49][50] 2 Increase $7.64 billion Increase 2 Increase $7.00 billion Increase
2015[39][40][7] 2 Steady $10.76 billion Increase 7 Decrease $3.50 billion Decrease
2016[1][6] 2 Steady $10.35 billion Decrease 5 Decrease $4.2 billion Increase
Legend
Icon Description
Steady Has not changed from the previous year
Increase Has increased from the previous year
Decrease Has decreased from the previous year

Philanthropy

Pratt is a family trustee of the Pratt Foundation, which was established in 1978 by the late Richard Pratt and Jeanne Pratt AC, donating US$15 million - US$17 million per year.[51] Pratt also serves on the board of trustees of the Appeal of Conscience Foundation,[52] is a patron of the British Asian Trust,[53] is a founding patron of the Australia India Leadership Dialogue,[54] Australian patron of the Trilateral Track II Food and Water Security Dialogue which he launched with former Israeli Prime Minister Shimon Peres between India, Israel and Australia,[55][56] Australian patron of the Australia India Leadership Dialogue,[57][58] founding patron of The Prince's Charities Australia,[59][60] and patron of the Indian Film Festival of Melbourne.[61][62] He also supports the Forbes Under 30 Summits.[63]

References

  1. 1 2 3 4 "BRW rich list topped by Harry Triguboff, Gina Rinehart slips to fourth". ABC News. 26 May 2016. Retrieved 26 May 2016.
  2. ↑ "#435 Anthony Pratt". Forbes. Retrieved 28 June 2016.
  3. 1 2 Kitney, Damon (18 March 2011). "Anthony Pratt to return from US and take helm of family flagship". The Australian. Retrieved 3 June 2012.
  4. ↑ "Australian Businessman Anthony Pratt hosts fundraiser for Asha". ASHA. Retrieved 13 June 2016.
  5. ↑ Stensholt, John, ed. (27 May 2016). "2016 BRW Rich 200". Financial Review. Australia. Retrieved 7 June 2016.
  6. 1 2 "2016 Australia's 50 Richest". Forbes Asia. January 2016. Retrieved 9 June 2016.
  7. 1 2 3 "Australia's 50 Richest People: The list". Forbes Asia. March 2015. Retrieved 11 June 2015.
  8. ↑ "Anthony Pratt". Forbes Australia. Retrieved 13 June 2016.
  9. ↑ "Philanthropist Sets the Stage for Budding Theatre Stars with $1M Donation". Pro Bono Australia. 27 May 2016. Retrieved 14 June 2016.
  10. ↑ Ward, Jodi. "bhumigreens". Retrieved 28 June 2016.
  11. ↑ "Anthony Pratt MSLE Dean's Lecture". The University of Melbourne. Retrieved 28 June 2016.
  12. 1 2 3 4 5 "People: Anthony Pratt". The United States Studies Centre. Retrieved 3 June 2012.
  13. 1 2 "BRW Rich 200 2013 Wealth Index". BRW. Sydney. 23 May 2013. Retrieved 23 May 2013.
  14. ↑ Kitney, Damon (January 25, 2016). "Anthony Pratt to launch packaging deal for e-tailing sector". The Australian Business Review. News Corp Australia. Retrieved June 1, 2016.
  15. 1 2 3 4 Stensolt, John (April 2, 2016). "Anthony Pratt says new paper mill centrepiece of his 'billion dollar hamburger'". Australian Financial Review. Fairfax Media Publications. Retrieved June 1, 2016.
  16. ↑ Kitney, Damon (April 2, 2016). "Billionaire Anthony Pratt's the full package after 25 years in US". The Australian Business Review. News Corp Australia. Retrieved June 1, 2016.
  17. ↑ "America's Largest Private Companies". Forbes. Retrieved August 1, 2016.
  18. ↑ Ruthven, Phil (September 1, 2016). "Top 500 private companies a blast from the past". The Australian Financial Review. Fairfax Media Publications Pty Ltd. Retrieved September 1, 2016.
  19. ↑ "none", Australian Financial Review, 16 April 2011
  20. ↑ Rhoden, William C. (16 September 2000). "Sports of The Times; An Olympian In Word and Deed". The New York Times. Retrieved 3 June 2012.
  21. ↑ "Global Greenhouse Gas Emissions Data". EPA: United States Environmental Protection Agency. Retrieved 27 May 2016.
  22. ↑ "Aviation and Climate Change" (PDF), United States Government Accountability Office
  23. ↑ Commitment Search: Recycling is an Important Weapon against Climate Change, 2007
  24. ↑ Hewitt, Bill (September 26, 2009). "World Leadership Forum 2009". Foreign Policy Association. Retrieved June 27, 2016.
  25. ↑ Columbia, David Patrick (September 24, 2009). "Changes". New York Social Diary. Retrieved June 27, 2016.
  26. ↑ "Pratt warns of food security danger". The Age. Melbourne. 16 November 2011.
  27. ↑ "Global Food Forum". The Australian. April 2013.
  28. ↑ "Asia food bonanza 'our next boom', says Anthony Pratt". The Australian. 18 April 2013.
  29. ↑ "The Wall Street Journal Global Food Forum". Retrieved June 27, 2016.
  30. ↑ Kitney, Damon (October 6, 2016). "Anthony Pratt dares US to double food production". The Australian. Retrieved October 17, 2016.
  31. ↑ "Members List" (PDF). Australia-Japan Business Cooperation Committee.
  32. ↑ Maher, Sid (2 October 2013). "Abbott's focus on international trade delights CEOs". The Australian.
  33. ↑ Kitney, Damon (11 October 2013). "US Ambassador for Pratt Advisory Board". The Australian.
  34. ↑ "US ambassador for Pratt advisory board". The Australian Business Review. October 11, 2013. Retrieved June 1, 2016.
  35. ↑ Kitney, Damon (August 11, 2015). "Visy chief Anthony Pratt puts India in box seat for food security". The Australian Business Review. News Corp Australia. Retrieved June 1, 2016.
  36. 1 2 3 Zappone, Chris (26 May 2010). "Frank Lowy tops BRW rich list for first time". The Sydney Morning Herald. Retrieved 27 July 2011.
  37. ↑ Heathcote, Andrew; Lindsay, Nicole (27 June 2014). "BRW Rich 200: how technology is reshaping the list". BRW (Interactive chart). Retrieved 29 June 2014.
  38. ↑ Thomson, James (23 May 2012). "Rinehart, Palmer and the Rich 200". Business Spectator. Retrieved 5 June 2012.
  39. 1 2 "2015 BRW Rich 200: Anthony Pratt & family". BRW. Sydney. May 2015. Retrieved 11 June 2015.
  40. 1 2 3 "Australia's 50 Richest People: #7 Anthony Pratt". Forbes Asia. March 2015. Retrieved 11 June 2015.
  41. ↑ "98 private companies earning over $200m pay no tax: ATO". ABC News. Australia. 22 March 2016. Retrieved 4 April 2016.
  42. ↑ Saulwick, Jacob; Cummins, Caroline (27 May 2010). "Lowy leaves mining magnates in the dust". The Sydney Morning Herald. Retrieved 27 July 2011.
  43. ↑ "2010 Australia's 40 Richest". Forbes Asia. 3 March 2010. Retrieved 3 June 2012.
  44. ↑ Wood, Lachlan (25 May 2011). "Passport Power". BRW Rich 200 Wealth Index. Australia. Retrieved 24 November 2013.
  45. ↑ "2011 Australia's 40 Richest". Forbes Asia. 2 February 2011. Retrieved 8 February 2011.
  46. ↑ "Rich 200: It's tough at the top". BRW. Sydney. 24 May 2012. Retrieved 2 June 2012.
  47. ↑ "2012 Australia's 40 Richest". Forbes Asia. 1 February 2012. Retrieved 3 June 2012.
  48. ↑ "2013 Australia's 50 Richest". Forbes Asia. 1 February 2013. Retrieved 23 May 2013.
  49. ↑ "2014 BRW Rich 200". BRW. Sydney. 26 June 2014. Retrieved 28 June 2014.
  50. ↑ "2014 Australia's 50 Richest". Forbes Asia. January 2014. Retrieved 30 June 2014.
  51. ↑ Kitney, Damon (June 8, 2015). "Heloise Waislitz: the billionaire heiress who keeps on giving". The Australian Business Review. News Corp Australia. Retrieved June 1, 2016.
  52. ↑ "OFFICERS & TRUSTEES". Appeal of Conscience Foundation. Retrieved June 1, 2016.
  53. ↑ "The British Asian Trust Impact Report 2016" (PDF). Retrieved June 1, 2016.
  54. ↑ "Patron, Australia India Leadership Dialogue". Retrieved June 1, 2016.
  55. ↑ Kitney, Damon (November 8, 2014). "Pratt and Peres in food bid for India". The Australian Business Review. News Corp Australia. Retrieved June 1, 2016.
  56. ↑ Kitney, Damon (April 15, 2015). "Pratt's vision of food exports-driven economy". The Australian Business Review. News Corp Australia. Retrieved June 1, 2016.
  57. ↑ "Australia India Institute Mission Statement". Australia India Institute. Retrieved June 1, 2016.
  58. ↑ "CECA Talks and Leadership Dialogue Focus of Robb's Visit to India". Minister for Trade and Investment. Retrieved June 1, 2016.
  59. ↑ "PRINCE'S CHARITIES AUSTRALIA people". AIHIT. Retrieved June 1, 2016.
  60. ↑ "PRINCE'S CHARITIES AUSTRALIA Patrons". The Prince's Charities Australia. Retrieved June 1, 2016.
  61. ↑ "Advisory Board". Indian Film Festival. Retrieved June 1, 2016.
  62. ↑ "Message from the Patron". Indian Film Festival. Retrieved June 1, 2016.
  63. ↑ "Forbes Announces $1 Million Global Change The World Social Entrepreneurs Competition". Forbes. July 22, 2015. Retrieved June 1, 2016.

External links


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