Richard Pratt (Australian businessman)
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Richard J. Pratt, AC (born 1934) is a prominent Australian businessman, chairman of the privately owned cardboard company Visy Industries and a leading figure of Melbourne society. He is married to Jeanne Pratt and currently lives in Raheen, in the Melbourne suburb of Kew.
As of 2005, Pratt's personal fortune was valued at A$4.7 billion, and he was Australia's third richest man.
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[edit] Early life
Pratt was born in Danzig of Polish Jewish parents on 12 March 1934. The family emigrated in 1938 and settled in Shepparton, changing their surname from Przetitzki to Pratt. Pratt was educated at Shepparton High School and University High School and enrolled in a Bachelor of Commerce degree at the University of Melbourne in 1953. He combined study with acting and working as salesman for the family business, Visy Board, which made boxes for the local orchardists. He was also played for Carlton in the Victorian Football League and was awarded the Morrish Medal in 1953 for the best and fairest of the "under 19s" players. After touring London and New York with a production of Ray Lawler's Summer of the Seventeenth Doll, he returned to Melbourne and Visy. He took over the business in 1969 following the death of his father.
[edit] Public Career
Under Pratt’s direction, Visy expanded from a factory in the suburbs of Melbourne to more than 55 plants across Australia, U.S., New Zealand, and Papua New Guinea. From cardboard boxes and packaging, Visy moved into waste paper recycling.
In 1993 the National Crime Authority (NCA) raided Pratt's offices in connection with an investigation into businessman John Elliott's foreign exchange dealings. The following year, however, the NCA paid costs and returned documents seized. Later in the decade Pratt expanded his operations to the New York waste paper business.
As well as his business interests, Pratt is known for his involvement in public service, having held posts including: foundation chancellor of Swinburne University of Technology, president of the Victorian Arts Centre Trust, and Chairman of the Board of Management of the Mental Health Research Institute of Victoria. Through the Pratt Foundation, the Pratt family are among Australia's leading philanthropists. Pratt was named Environmental Visionary of the Year in 1998 by the Keep Australia Beautiful Campaign. Pratt received the AO, Officer of the Order of Australia, in 1985 and the AC, Companion of the Order of Australia in 1998, Australia's highest honor. His wife Jeanne is also an AC recipient.
[edit] Recent developments
In 2000 Pratt became the subject of widespread media attention when it was revealed that he had conducted a long-term extra-marital relationship with Shari-Lea Hitchcock, with whom he had fathered a daughter in 1998.
In December 2005 the ACCC commenced prosecution against Pratt for alleged involvement in a cartel in the packaging industry.
[edit] External link
- James Kirby, "Remarkable life of a maverick tycoon", Sydney Morning Herald, 22 December 2005.
