Kerr Neilson

$1.10 B

Ranked #2448 in World

About Kerr Neilson

South African-born Kerr Neilson, celebrated as "Australia's Warren Buffett", has made a significant mark in the investment management sphere, amassing a net worth of US$960 million by February 2023. The co-founder of Platinum Asset Management, which oversees around A$22 billion in international equities, Neilson has established a legacy through his contrarian, long-term investment approach, yielding a remarkable 40-year track record of +17.1% per annum. Having bought his first stock at 13 and graduating with a Bachelor of Commerce in 1971, Neilson's prowess was honed under notable mentors and experiences globally. Despite stepping down as CEO in 2018 and resigning from Platinum's Board in 2022, his strategies continue to guide the firm. Moreover, his establishment of the Neilson Foundation in 2007 underlines his commitment to enriching the arts and supporting social cohesion, showcasing a life that blends financial acumen with philanthropy.

Born

October 17, 1949 in Johannesburg, South Africa

Age

76 years

Source Of Wealth

Investments

Industries

Finance & Investments

Citizenship

Australia

Residence

Sydney

Education

Bachelor of Arts/Science, University of Cape Town

Spouse

Judith Neilson (Divorced: 2015)

Children

Kerr Neilson, born on October 17, 1949, in Johannesburg, South Africa, displayed an early fascination with investment management. At the tender age of 13, he made his first stock purchase, demonstrating his innate aptitude for the financial world. Neilson's academic journey led him to the University of Cape Town, where he graduated with a Bachelor of Commerce degree in 1971. Notably, his family boasts a rich history of innovation, tracing back to James Beaumont Neilson's groundbreaking hot-blast process during the Industrial Revolution in Scotland.

Kerr Neilson: Family

Kerr Neilson's personal life includes a previous marriage to Judith, which ended in divorce in 2015. The couple shares two children. Additionally, Neilson played a pivotal role in establishing the White Rabbit Gallery in Sydney, a platform to showcase Judith's impressive collection of Chinese contemporary art.

Kerr Neilson: Career Highlights

Neilson's career trajectory began with his training as an investment analyst under the mentorship of John Evans at Cortaulds in London. In 1972, he returned to South Africa and assumed the role of head of research at Anderson Wilson Stockbrokers. A significant turning point came in 1983 when Neilson relocated to Australia and joined Bankers Trust Australia's funds management division.

Kerr Neilson: Companies

Kerr Neilson's most notable venture is Platinum Asset Management, which he co-founded in 1994 with the support of renowned investor George Soros. Neilson held various leadership positions within the company, including managing director, executive director, and chief investment officer. Platinum Asset Management specializes in international equities and has grown to manage an impressive A$22 billion in funds as of 2020. The company's contrarian and long-term investment philosophy centers on achieving strong absolute returns over the long haul. In 2018, Neilson stepped down as CEO, passing the baton to Andrew Clifford. His departure from the Board of Platinum Asset Management followed in 2022. Despite these changes, Platinum continues to operate globally, maintaining a multi-billion-dollar portfolio.

Kerr Neilson: Major Achievements

Neilson's investment prowess has earned him the moniker "Australia's Warren Buffett." His 40-year track record boasts an estimated +17.1% p.a.

return from 1984 to 2023. This remarkable performance outshines the MSCI Total Return Index in AUD by +7.6% p.a. over the same period. Neilson's strategies have proven particularly effective in down markets, exemplified by a +39.8% return in 1988 when the Australian All Ordinaries Index plummeted by 13.3%. While his track record is mostly positive, Neilson has experienced a few down periods, notably in 2011-12 and the 2022 fiscal year.

Kerr Neilson: Awards & Achievements

Kerr Neilson's contributions to the investment world have garnered widespread recognition. He was named Fund Manager of the Year by Money Management magazine in 2006 and 2007. Additionally, he received the Lifetime Achievement Award from the Financial Services Institute of Australasia in 2014.

Kerr Neilson: Personal Life & Legacy

Beyond his professional accomplishments, Kerr Neilson is known for his philanthropic endeavors. In 2007, he established the Neilson Foundation, a charitable organization dedicated to supporting the arts and promoting social cohesion. The foundation receives funding from the flotation of Platinum Asset Management and has disbursed over $150 million since its inception. Its current value exceeds AU$260 million. The Neilson Foundation prioritizes accessibility to the arts and provides assistance to disadvantaged individuals and communities.

Kerr Neilson: Trivia

Kerr Neilson's net worth has been a subject of interest. In 2007, he floated 20% of Platinum Asset Management on the ASX, valuing his retained shares at A$2.9 billion. This milestone propelled him into the ranks of Australia's wealthiest individuals, securing his position as a billionaire. Neilson's financial success has been consistently recognized by Forbes, featuring him on their lists of Australia's 50 richest people and Australian billionaires from 2010 to 2019. As of 2023, his net worth is estimated to be around US$960 million.

Wealth History

Timeline

October 17, 1949

Kerr Neilson is born in Johannesburg, South Africa.

1971

Graduates with a Bachelor of Commerce from the University of Cape Town.

1972

Returns to South Africa and becomes head of research at Anderson Wilson Stockbrokers.

1983

Moves to Australia and joins Bankers Trust Australia's funds management arm.

1984

Kerr Neilson's 40-year track record begins.

1988

Platinum achieves +39.8% returns while the Australian All Ordinaries Index falls 13.3%.

1994

Co-founds Platinum Asset Management with backing from George Soros.

2007

Platinum Asset Management floats 20% on the ASX, valuing Neilson's retained shares at A$2.9 billion.

2007

Kerr Neilson establishes the Neilson Foundation to support the arts and charities promoting social cohesion.

2010-2019

Listed in Forbes' lists of Australia's 50 richest people and Australian billionaires.

2011-12

Platinum experiences down periods.

2015

Kerr Neilson divorces his wife Judith.

2018

Steps down as CEO of Platinum Asset Management, succeeded by Andrew Clifford.

2020

Platinum Asset Management manages an estimated A$22 billion in funds.

2021

Kerr Neilson establishes the Argyle Fund to manage the family's financial interests.

2022

Resigns from the Board of Platinum Asset Management. Platinum experiences a down period in the fiscal year.

February 2023

Kerr Neilson's net worth is estimated at US$960 million.

Kerr Neilson : FAQs

What is Kerr Neilson's net worth?

As of 2022, Kerr Neilson's net worth was $1.10 billion.

What are Kerr Neilson's main sources of wealth?

Kerr Neilson's main source of income comes from Investments.

In which industry does Kerr Neilson primarily operate?

Kerr Neilson is primarily involved in the Finance & Investments industry.

What is Kerr Neilson educational background?

Kerr Neilson holds a Bachelor of Arts/Science from the University of Cape Town.

How old is Kerr Neilson?

Kerr Neilson is 76 years old.

How many children does Kerr Neilson have?

Kerr Neilson has 2 children.

Who is Kerr Neilson and why is he known as 'Australia's Warren Buffett'?

Kerr Neilson is a South African-born Australian investment manager, co-founder of Platinum Asset Management, known as 'Australia's Warren Buffett' for his exceptional stock-picking skills. His net worth is estimated at US$960 million as of February 2023.

What notable achievements marked Kerr Neilson's early life?

Born in Johannesburg in 1949, Kerr Neilson demonstrated an early interest in investment, buying his first stock at age 13. He graduated with a Bachelor of Commerce from the University of Cape Town in 1971, and has a family history of invention dating back to the Industrial Revolution.

What are some key milestones in Kerr Neilson's career before founding Platinum Asset Management?

Neilson trained as an investment analyst in London, became head of research at Anderson Wilson Stockbrokers in South Africa, and moved to Australia in 1983 to join Bankers Trust Australia's funds management arm.

What is Platinum Asset Management and what principles has Kerr Neilson established there?

Platinum Asset Management, co-founded in 1994 by Neilson with George Soros' backing, is a specialist company in international equities with a contrarian, long-term investment philosophy. It managed A$22 billion in funds in 2020.

How has Kerr Neilson contributed to the arts and social causes?

Kerr Neilson established the Neilson Foundation in 2007 to support the arts and promote social cohesion. The foundation, funded through the flotation of Platinum Asset Management, has disbursed over $150 million, focusing on art accessibility and aiding disadvantaged communities.