During the sixties and seventies, Australia discovered making free money by selling all our previously held government assets. Government insurances, the post and telegraph, banks, anything that could be sold, electricity, water , you name it and it would turn a dollar . And that wasn’t enough. It was followed by selling the ground underneath us. There were more riches to be made, oil, gas, iron ore, silver gold, coal uranium, titanium and now the richest of them all, lithium.
But what happened to all that money? Where is it now?
Here it is.
1 Gina Rhinehart (mining) $32.64 billion.
2Andrew Forrest (mining) $31.77 billion.
3 Clive Palmer (mining) $ 18.35 Billion.
4 Ivan Glasenberg (mining) $9,10 Billion.
With a looming economic recession rapidly coming over the horizon one wonders if all that wealth in just a few hands could have been better spent or, saved for a rainy day!…