Michael Heine

$1.92 B

Ranked #2115 in World

About Michael Heine

Michael Heine, an eminent Australian businessman born circa 1949, has carved a niche in the finance sector as the founder and managing director of Netwealth. Descended from Walter Heine, a German immigrant and textile merchant, Michael took the reins of his family's business post-high school, ultimately expanding it beyond its original scope. After inheriting the family business with his brother Leslie in 1978, Heine's ventures included Heine Management and Heine Finance, alongside a foray into public listing with Eurolynx in 1986 and significant real estate investments, notably purchasing 120 Collins Street in 1993. Transitioning from traditional to digital, Heine propelled Netwealth onto the ASX in 2017, significantly boosting its share price and achieving a net worth of A$2.67 billion by May 2023, marking him as a formidable figure in Australia's financial landscape.

Born

November 10, 1949

Age

76 years

Source Of Wealth

Financial Services

Industries

Finance & Investments

Citizenship

Australia

Residence

Melbourne

Michael Heine, an Australian businessman, founder, and managing director of Netwealth, was born around 1949. His father, Walter Heine, was a German textile merchant who moved to Australia. Michael Heine joined the family business after completing high school and did not pursue any tertiary qualifications.

Michael Heine: Family

Michael Heine's father, Walter Heine, was a German textile merchant who immigrated to Australia. Michael Heine has a brother named Leslie Heine, with whom he inherited the family company after their father's passing in 1978.

Michael Heine: Career Highlights

After joining the family business, Michael Heine expanded into property management (Heine Management) and investment/mortgage finance (Heine Finance). In 1986, he publicly listed the holding company Eurolynx, retaining a 25% stake. Notable transactions include the purchase of Wheatley Communications for $90 million and its subsequent sale to Hoyts for $130 million. In 1993, Heine Management acquired Australia's tallest building, 120 Collins Street, for $286 million.

In 1999, Michael Heine sold shares in Heine Management to Mercantile Mutual for $112 million. He then used the proceeds to establish Netwealth, an online platform for financial advisors. Netwealth's successful growth led to its listing on the Australian Stock Exchange (ASX) in 2017, with a significant 44% increase in share price on the first day of trading.

Michael Heine: Companies

Michael Heine has been involved with several companies throughout his career, including:

Heine Management
Heine Finance
Eurolynx
Wheatley Communications
Netwealth

Michael Heine: Major Achievements

Michael Heine's major achievements include:

Expanding the family business into property management and investment/mortgage finance.
Publicly listing the holding company Eurolynx in 1986.
Acquiring Australia's tallest building, 120 Collins Street, for $286 million in 1993.
Establishing Netwealth, an online platform for financial advisors, in 1999.
Successfully listing Netwealth on the Australian Stock Exchange (ASX) in 2017.

Michael Heine: Awards & Achievements

Michael Heine has received various awards and recognitions for his contributions to the business sector, including:

Ernst & Young Entrepreneur of the Year Award in 1994.

Australian Financial Review's Top 100 Rich List (multiple years).
Australian Business Awards - Business Person of the Year in 2018.

Michael Heine: Personal Life & Legacy

Michael Heine is married with three children. He is known for his philanthropic efforts, particularly in the areas of education and healthcare. Heine has made significant contributions to various charitable organizations and institutions.

Michael Heine: Trivia

Michael Heine's net worth was estimated at A$1.27 billion in 2018, making him a nominal billionaire.
As of May 2023, his net worth is assessed at A$2.67 billion.
Heine is an avid art collector and owns a substantial collection of Australian contemporary art.

Wealth History

Timeline

1949

Michael Heine is born.

1978

Michael Heine inherits the family textile business with his brother Leslie after their father's death.

1981

Michael Heine briefly runs an investment company in England, which is liquidated.

1986

Michael Heine publicly lists the holding company Eurolynx, retaining a 25% stake.

1993

Heine Management buys Australia's tallest building, 120 Collins Street, for $286 million.

1999

Michael Heine sells shares in Heine Management to Mercantile Mutual for $112 million.

2017

Michael Heine establishes Netwealth, an online platform for financial advisors.

2018

Michael Heine becomes a nominal billionaire with a net worth of A$1.27 billion.

May 2023

Michael Heine's net worth is assessed at A$2.67 billion.

Michael Heine : FAQs

What is Michael Heine's current net worth?

Michael Heine's current net worth is $1.92 billion.

What is Michael Heine's current global rank among billionaires?

Michael Heine holds the 2115th position globally among billionaires.

What is Michael Heine's current ranking within the Australia?

Michael Heine holds the 39th position in Australia.

What was the change in Michael Heine's net worth compared to the previous year?

Michael Heine's net worth decreased by 198.91 million dollars compared to the previous year 2025, when his net worth was 2.11 billion dollars.

What are Michael Heine's main sources of wealth?

Michael Heine's main source of income comes from Financial Services.

In which industry does Michael Heine primarily operate?

Michael Heine is primarily involved in the Finance & Investments industry.

How old is Michael Heine?

Michael Heine is 76 years old.

How many children does Michael Heine have?

Michael Heine has 2 children.

Who is Michael Heine and what is he known for in the business world?

Michael Heine is an Australian businessman renowned for being the founder and managing director of Netwealth, a successful online platform for financial advisors.

What significant event marked the beginning of Michael Heine's career in the property management and investment sector?

Michael Heine expanded into property management with Heine Management and investment/mortgage finance with Heine Finance after inheriting his family's company in 1978, marking the commencement of his significant activities in the sector.

Can you detail a major successful transaction Michael Heine executed in the media and communications industry?

Michael Heine bought Wheatley Communications for $90 million and achieved a lucrative exit by selling it to Hoyts for $130 million.

What was a key milestone for Netwealth under Michael Heine's leadership?

A key milestone for Netwealth was its listing on the Australian Stock Exchange (ASX) in 2017, where the share price soared by 44% on the first day, signaling strong market confidence in the company.