All wealthy entrepreneurs like to have friends in the right places, so it should come as no surprise that companies associated with some of Australia richest people have figured on the list of the largest political donors for 2007-08.
Stanley Ho, a Hong Kong-based gaming tycoon, topped the list after an Australian entity associated with him donated $800,000 to the Australian Labor Party.
Third on the list was Queensland mining tycoon Clive Palmer, who gave $615,000 to various branches of the National and Liberal parties and also gave $20,000 to the West Australian Labor Party.
Most entrepreneurs gave generously to both sides of the political divide.
The Ingham family, who own the Ingham Chicken empire, gave $200,000 to the ALP and $300,000 to the Coalition, while companies associated with billionaire property developer Lang Walker gave $250,000 to both sides.
Village Roadshow (majority owned by the Kirby family) gave a total of $487,791, while the Lowy family’s Wesfield Group ($436,490), Richard Pratt ($300,000) and Paul Ramsay ($264,145) also gave generously to both parties.
A company called Hong Kong Kingson Investments, which is owned by Chinese property developer Chau Chuk Wing, was another big donor, giving $218,000 to Labor and $450,000 to the Coalition.
In total, the ALP received $83.9 million in 2007-08, up 26% from the $66.5 million it received in the previous year.
The Coalition received $59.9 million, compared with $55 million in 2006-07.
James was the editor and publisher of SmartCompany and LeadingCompany for five years. He is now the Australian Financial Review‘s companies & markets editor, and a former BRW editor.
