Queensland rich list reveals hot young entrepreneurs

The second annual Queensland rich list in the Sunday Mail newspaper has unearthed a surprising batch of hot new entrepreneurs in the mining, property and financial services sectors.

The second annual Queensland rich list in the Sunday Mail newspaper has unearthed a surprising batch of hot new entrepreneurs in the mining, property and financial services sectors.

The list was headed by iron ore baron Clive Palmer, who was valued at $6.5 billion. Ken Talbot, the founder and former managing director of coal giant Macarthur Coal, was second with $1.4 billion.

But it is the lesser-known names that will attract all the interest. These include:

• John Fitzgerald, aged 45, chief executive of the JLF Corporation, a property marketing and financial services group turning over $300 million. He has been valued at $340 million but plans to give all his money away during his career.
• Heather Killen, aged 49, who is valued at $90 million. She formerly worked as an executive at Yahoo during the dot-com boom and was reported to have earned a salary of $30 million. She is now a managing partner of Hemisphere Capital, a London-based firm providing advisory services and capital to companies in the digital media, communications and IT sectors.
• Craig Doyle, aged 43, who runs a property business and is estimated to be worth $270 million. He is still based in the rural Queensland town of Dayboro.
• Udo Jattke, aged 48, who owns builder Glenwood Homes and is valued at $300 million. He arrived in Australia after his parents defected from East Germany.
• Peter Bond, the 46-year old chief executive of coal company Linc Energy, whose fortune has increased 15-fold in two years and is worth $635 million.
• Emmanuel and Julie Cassimatis, the founders of the successful Storm Financial group, who have been valued at $450 million.

While some of the valuations on the list look very aggressive given the current outlook for the property and financial services sector, the list provides a fascinating snapshot of one of Australia’s few remaining boom states.

The list will look very different when the mining boom ends, but for now the Sunshine State has a golden glow.

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