James Douglas Packer (born 8 September 1967) is an Australian billionaire businessman and investor. He is the son of Kerry Packer, a media mogul, and Roslyn Packer, and the grandson of Frank Packer.
He inherited control of the family company Consolidated Press Holdings Limited, along with investments in Crown Resorts and other firms. He is the former executive chairman of Publishing and Broadcasting Limited (PBL), Consolidated Media Holdings, and Crown Resorts, overseeing major media interests and business operations.
RELATED: What Is Tubgirl? This is why you Never google it
Table of Contents
James Packer Net Worth
James Packer has a net worth of $3.7 billion. He is the son of media mogul Kerry Packer and the grandson of Frank Packer. In 2006 and 2007, he was the richest person in Australia. Forbes Asia valued his net worth at US$3.6 billion in January 2019, ranking him the ninth-richest Australian.
In June 2022, the Federal Court approved Blackstone’s takeover of Crown Casinos, giving Packer A$3.36 billion for his 37 percent stake. He also holds an investment in ADH TV.
Early Life
James Packer was born in Sydney, the son of philanthropist Roslyn Packer (née Weedon) and media mogul Kerry Packer. His grandfather was Sir Frank Packer, a leading media proprietor. He was educated at Cranbrook School in Bellevue Hill, Sydney, where he completed the Higher School Certificate (HSC).
Afterward, he worked as a jackeroo at his father’s Newcastle Waters cattle station in the Barkly Tableland, Northern Territory. Packer has stated he did not attend university, citing poor marks. His mentors included his father and corporate executive Albert J. Dunlap.
Career
Following the dotcom crash (2000–2001), James Packer invested in online classified sites Seek and Carsales.com, foreseeing the decline of newspaper companies dependent on classified advertising. In August 2003, Packer purchased a 25% stake in Seek for A$33 million, later selling most of it in 2009 for A$440 million.
At his urging, Australian Consolidated Press, then controlled by his family, acquired a 41% stake in Carsales in October 2005. The deal, initially valued at A$100 million, ultimately returned A$462 million to Packer-controlled entities.
Personal Life
James Packer and actress Kate Fischer separated in 1998 after five years together and a two-year engagement. He married Jodhi Meares at his Bellevue Hill, Sydney home in October 1999; they separated in 2002.
On 20 June 2007, Packer married Erica Baxter, a part-time model and singer, in a civil ceremony at the Antibes town hall, followed by a second ceremony at Hotel du Cap – Eden Roc on the French Riviera. They had three children: a daughter (born 27 July 2008), a son (born 1 February 2010), and another daughter (born 22 September 2012). In September 2013, James and Erica Packer announced their separation.
What do the Packer family own?
The Packer legacy in media set the stage for James’s later ventures. Beyond traditional media, the family’s interests have spanned digital platforms, gaming, and entertainment, reflecting an evolution from print to the pinnacle of global business.
Conclusion
James Packer’s journey is more than a financial ledger. It’s a narrative of resilience, evolution, and the complexities of carrying a legacy while forging a new path. His net worth is a chapter in a larger story of ambition, controversy, and the constant pursuit of success.
RELATED: Who is Ian Connor? Everything You Need To Know
FAQs about James Packer
- How did James Packer make his fortune? James Packer inherited a significant media empire from his father, Kerry Packer, and grandfather, Sir Frank Packer, which laid the foundation for his wealth. Over the years, he diversified his investments into the gaming and entertainment industry, notably through Crown Resorts, and various other business ventures including technology and telecommunications.
- What challenges has James Packer faced in his career? Throughout his career, Packer has encountered numerous challenges, including the fluctuating fortunes of his casino and gaming businesses, legal and regulatory scrutiny, personal issues affecting his leadership, and high-profile business failures like One. Tel.
- How has James Packer’s personal life affected his business ventures? James Packer’s personal life, including his high-profile relationships, engagements, and marriages, has often been in the public eye, affecting his business ventures to varying degrees.
- What is the future of James Packer’s business empire? The future of James Packer’s business empire, particularly after the sale of his stake in Crown Resorts to Blackstone, seems to be leaning towards a more diversified portfolio with interests beyond the gaming and entertainment industries.
- How does James Packer contribute to philanthropy? James Packer has made significant contributions to philanthropy through the Packer Family Foundation and the Crown Resorts Foundation.
