Kerry Packer - Fortune - Billionaire list

Kerry Packer
Kerry Francis Bullmore Packer (born 17 December 1937) is an Australian publishing, media and gaming tycoon.Packer is currently believed to be Australia's richest man and one of the most influential. His fortune is inherited. He is married and has two children.

Packer is the major shareholder in Publishing and Broadcasting Limited (PBL), which owns the Nine television network and Australian Consolidated Press, which produces many of Australia's top-selling magazines. He is involved in a number of other gambling and tourism ventures, notably the Crown Casino in Melbourne.

The Packer family has long been involved in media, Packer's grandfather was an influential publisher, his father, Sir Frank Packer was one of Australia's first media moguls, and his son, James Packer, is Executive Chairman of PBL. He was not originally destined for the role, but in the early 1970s Kerry took the place of the designated successor, his older brother, the late Clyde Packer, after Clyde fell out with their father, quit PBL and moved to America. Kerry took over the running of PBL in 1974, on the death of his father.

Packer is a keen polo player, was a longtime chain smoker, and remains an avid gambler, fabled for his titanic wins and losses. In 1999 it was reported that a three-week losing streak at London casinos cost him almost AU$28 million dollars -- described at the time as the biggest reported gambling loss in British history. The same report stated that he had once won AU$33 million at the MGM Grand Casino in Las Vegas and that he often won as much as AU$7 million each year during his annual holidays in the UK. Packer is also known for his sometimes volcanic temper, and for his perennial contempt for the media and for journalists.

$5.0 billion as of 2005.