Chris Ellison (businessman)
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Chris Ellison | |
|---|---|
| Born | c. 1957 New Zealand |
| Education | Otago Boys' High School |
| Occupation | Entrepreneur |
| Known for | Founder of Mineral Resources |
Christopher James Ellison MNZM (born c. 1957) is a New Zealand entrepreneur known as the founder of Australian mining services company Mineral Resources.
Early life[edit]
Ellison was born in New Zealand. He grew up on a farm outside of Dunedin and attended Otago Boys' High School, leaving school in 1972 at the age of 15.[1]
Business career[edit]
Early ventures[edit]
In 1978, Ellison moved to Karratha, Western Australia, where he established rigging firm Karratha Rigging and won a contract to work on the North West Shelf Venture.[2] He was managing director until 1982, when he sold the firm to Walter Wright Industries and subsequently became general manager of its WA/NT division. In 1986 he established Genco Ltd, which was acquired by engineering firm Monadelphous Group in 1988.[3] Ellison became a substantial shareholder in Monadelphous as a result of the acquisition, but the company collapsed in the early 1990s and left him financially ruined.[2]
Mineral Resources[edit]
In 2006, Ellison and others established Mineral Resources as a merger of three mining services firms – pipeline contractor PIHA, ore-crushing firm Crushing Services International (CSI), and Process Minerals International (PMI). Ellison was a major shareholder in each of the three.[2] Mineral Resources was floated on the Australian Stock Exchange (ASX) in 2006 at 90 cents per share. By 2022 the company's share price had risen to an all-time high of over $71 per share, with Ellison holding around 12 percent of the company.[4]
Other activities[edit]
As of 2022, Ellison owned a 10 percent stake in ASX-listed rare earths explorer VHM Limited.[5] In September 2023 he was appointed non-executive chairman of ASX-listed explorer Delta Lithium Ltd after Mineral Resources acquired a controlling stake.[6]
Personal life[edit]
In 2009, Ellison bought a riverside mansion in Mosman Park, Perth, for an Australian record price of $57.5 million (equivalent to $88.2 million in 2022). The property was bought from mining heiress Angela Bennett.[7] In 2022 he and former Mineral Resources board member Tim Roberts purchased an agricultural property near Queenstown, New Zealand, for over NZ$30 million.[8]
Ellison was appointed as New Zealand's honorary consul in Western Australia in 2013. He was appointed a Member of the New Zealand Order of Merit in the 2022 Queen's Birthday Honours, for "services to New Zealand–Australia relations".[9]
Net worth[edit]
Ellison became a notional billionaire in 2020, when shares in Mineral Resources hit a then record high.[10]
| Year | Australian Financial Review Rich List | Forbes Australia's 50 Richest | ||
|---|---|---|---|---|
| Rank | Net worth (A$) | Rank | Net worth (US$) | |
| 2018[11] | 98  | $0.78 billion | ||
| 2019[12] | 148  | $0.66 billion | ||
| 2020[13] | 103 | $1.00 billion | ||
| 2021[14] | 87 | $1.29 billion | ||
| 2022 | 64 | $1.80 billion | ||
| 2023[15] | 55 | $2.25 billion | ||
| Legend | |
|---|---|
| Icon | Description |
 | Has not changed from the previous year |
| | Has increased from the previous year |
| | Has decreased from the previous year |
References[edit]
- ^ Ellison, Chris (23 September 2018). "Don't be afraid to give it a go - you have nothing to lose". Otago Boys' High School. Retrieved 6 February 2023.
- ^ a b c Klinger, Peter (12 December 2009). "Mansion buyer left school at 15". The West Australian. Retrieved 6 February 2023.
- ^ Salomae Haselgrove, Salome (3 September 2020). "MinRes MD rises from Pilbara businessman to billionaire". Australian Mining. Retrieved 19 February 2023.
- ^ "Mineral Resources boss Chris Ellison's fortune jumps $190m in one day on lithium spin-out 'speculation'". The West Australian. 9 September 2022. Retrieved 19 February 2023.
- ^ "Chris Ellison-backed rare earths play VHM Limited locks in $256m float". Australian Financial Review. 21 November 2022. Retrieved 19 February 2023.
- ^ "Mineral Resources' Chris Ellison takes control of Delta Lithium, David Flanagan to exit". The West Australian. 12 September 2023. Retrieved 12 September 2023.
- ^ Sonti, Chalpat (8 December 2009). "Perth mansion sold for Australian record of $57.5m". Sydney Morning Herald. Retrieved 6 February 2023.
- ^ Thompson, Brad (19 September 2022). "Albemarle interested in potential $10b lithium spin-off". Australian Financial Review. Retrieved 19 February 2023.
- ^ "The Queen's Birthday and Platinum Jubilee Honours List 2022 - Citations for Members of the New Zealand Order of Merit". Department of the Prime Minister and Cabinet. Retrieved 19 February 2023.
- ^ Sprague, Julie-anne (2 September 2020). "Meet Australia's newest billionaire". Australian Financial Review. Retrieved 19 February 2023.
- ^ "AFR Rich List 2018". Retrieved 8 August 2018.
- ^ Bailey, Michael (30 May 2019). "Australia's 200 richest people revealed". Australian Financial Review. Nine Publishing. Retrieved 31 May 2019.
- ^ Bailey, Michael; Sprague, Julie-anne (30 October 2020). "The full list: Australia's wealthiest 200 revealed". Australian Financial Review. Nine Publishing. Retrieved 31 October 2020.
- ^ Bailey, Michael; Sprague, Julie-anne (27 May 2021). "The 200 richest people in Australia revealed". Australian Financial Review. Retrieved 28 May 2021.
- ^ Bailey, Michael; Sprague, Julie-anne (26 May 2023). "The 200 richest people in Australia revealed". Australian Financial Review. Retrieved 6 June 2023.