He infamously went to warfare with WA over its exhausting border throughout COVID, however Clive Palmer is sitting fairly due to iron ore royalties pouring out of the State.
On Wednesday, it was revealed the belligerent billionaire had banked an eye-watering $800 million in royalties from CITIC’s mission within the Pilbara over the yr to late 2022.
Mr Palmer is now firmly entrenched as considered one of Australia’s uber-rich with a wealth approaching some $24 billion, and is claimed to personal greater than 200 luxurious vehicles, together with Rolls-Royces, Ferraris and uncommon Bugattis.
This fortune has allowed him to fund his personal political occasion, in addition to a succession of authorized battles towards WA, Premier Mark McGowan and others.
And it’s that patch of land within the Pilbara that helps give him free rein.
“The former real estate agent has shown he is really good at picking property with a slice of land in WA with probably the highest rental yield in the country,” says Grafa’s Colin Ebsworth on the most recent episode of The West Australian’s new finance present Trading Up.
Also on Trading Up, why CBA’s crystal ball predicts an enormous stoop for iron ore costs, the Aussie power shares fuelling the ASX and the way the maker of the world’s strongest denims is branching out into activewear.
WATCH THE LATEST EPISODE IN THE VIDEO PLAYER ABOVE
Source: www.perthnow.com.au
