Kerry Stokes Founder of Australian Capital Equity Date of Birth: 13.09.1940 Country: Australia

1. Kerry Stokes: The Magnate Behind Australian Capital Equity
2. Early Life and Career
3. Establishment of Australian Capital Equity
4. Investment in WesTrac and Other Ventures
5. Acquisition of Television and Media Assets
6. Print and Digital Media Expansion
7. Acquisition of National Hire Ltd
8. Personal Life and Wealth

Kerry Stokes: The Magnate Behind Australian Capital Equity

Kerry Stokes, the founder of Australian Capital Equity, has established a significant investment portfolio in sectors such as mining, oil, and gas both domestically and internationally.

Early Life and Career

Born John Patrick Elford in Perth, Australia on September 13, 1940, Kerry Stokes was adopted by Matthew and Irene Stokes. Despite a challenging childhood, he pursued various occupations before becoming a television antenna installer. By 1970, he had co-founded several shopping centers in Perth and Western Australia alongside Jack Bendat and Kevin Murfield.

Establishment of Australian Capital Equity

Kerry Stokes founded Australian Capital Equity, now a leading investment firm specializing in mining, oil, and gas sectors.

Investment in WesTrac and Other Ventures

In 1988, Stokes invested significantly in the Western Australian Caterpillar dealership, now known as WesTrac. The company has since expanded globally with operations in the United States, Wales, and China, with over 4,000 employees and an annual intake of 500 apprentices.

Acquisition of Television and Media Assets

In 1979, Stokes acquired Seven Canberra, a television network in Canberra. He later expanded his media portfolio by purchasing a 19% stake in the Seven Network, Australia's leading commercial television broadcaster, in 1996. He also acquired a 33% stake in Sky News Australia, one of Australia's leading news channels.

Print and Digital Media Expansion

Beyond television, Stokes established Pacific Magazines, a publisher of over 20% of all magazines sold in Australia. He also played a key role in the creation of Yahoo!'s Australian operations, making it one of the top internet portals in the country.

Acquisition of National Hire Ltd

In 2007, Kerry Stokes acquired a 50% stake in National Hire Ltd., a construction equipment hire company.

Personal Life and Wealth

Currently divorced, Kerry Stokes has four children. He resides in a mansion in Perth. As of 2008, his net worth was estimated at $1.5 billion, making him one of Australia's wealthiest individuals.