As half of an unfathomably powerful couple, Sanchez Bezos seems to have influenced the uber-rich to stop apologising and start enjoying themselves. The Business Council of Australia and gas giants say evidence from the UK shows investment and exploration will drop if a gas tax is included in the budget. The online luxury store has overhauled its board and appointed the veteran retailer as it faces continued investor uncertainty about its outlook. Longevity hacks and body tracking have become an obsession for the super-rich. A roaring sharemarket, deep tax cuts and crypto riches are driving a younger cohort to invest in the world of floating luxury.
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Shareholders delivered a substantial protest vote against the oil and gas producer’s executive pay report at the AGM, pointing to continuing discontent. Despite current consumer confidence concerns, the underlying strength of retail property is drawing investors to the asset class. A plan to make people pay out of pocket, rather than from their super fund, for advice about switching funds will do more harm than good, Hub24 and Insignia say. The global payments group has raised $467 million from investors, who include all three of the country’s major venture capital firms.
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The plan to impose a retrospective tax on foreign investors is a politically opportunistic attempt to bail out the budget that sets a dangerous precedent. A three-year-old start-up run has raised more than $20 million in a fundraising round after claiming its agents make better phone calls than humans. Irene Thomas spent six months fighting for her late husband’s superannuation, and members are still waiting for the government’s long-promised service standard rules.
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While there are plenty of investors trying to land a lucrative payday as AI use goes mainstream, Maincode is trying to become Australia’s answer to OpenAI. What started as a single co-working “side hustle” survived the rise and fall of WeWork and the pandemic to land Cliff Ho and Tom Ye on the Young Rich List. The wealthiest Australians under 40 include uni dropouts, an F1 star, ex-Macquarie banker, and founders of businesses ranging from pet food to crypto casinos. The wealthiest people under 40 are now worth a combined $31.7 billion, led by Canva duo Melanie Perkins and Cliff Obrecht, who topped the list for the sixth year.
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Stake.com founder invests millions to build Australia’s ChatGPT
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Ben Riley was already writing about the risks of chatbots when his dad started trusting AI over his doctor. Domain will hire up to 60 drone pilots and roll out technology for internal walkthroughs of residential listings, as the battle intensifies for market share. The son of Australia’s richest woman has weighed in on a landmark court ruling over the riches flowing from the Hancock mining empire.
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