A pot of gold

salary money wages

Who are the pharmacy and health identities who have made the AFR Rich List for 2020?

The Australian Financial Review has today published the full list of the 200 richest Australians.

While, the AFR says “COVID-19 came along this year and upended the world’s priorities, and so it has upended the Financial Review Rich List”, many of the leading figures in the broad health landscape have continued to enhance and improve their position, while others have joined the list.

As revealed in AJP yesterday, pharmacists Cathie Reid and Stuart Giles have debuted on the list. The couple featured at number 195, with a net wealth of $550 million between them.

Co-founders of Icon Group, the nation’s largest cancer care services provider, Ms Reid and Mr Giles are also co-owners of the 28-site Epic Pharmacy chain, which they are currently in the process of selling.

However, other pharmacy owners also made the list.

Rich list regulars, and Chemist Warehouse co-founders, Jack Gance and Mario Verrochi have again made to list’s top 100.

Mr Gance is placed at number 93 this year, after a 10.5% boost taking his wealth to $1.1 billion after a year which saw “hoards of shoppers rushing to stock up on face masks, hand sanitisers and vitamins”.

“Despite enjoying bigger profits, the chain…. raised eyebrows by proposing massive rent reductions”, the AFR said.

“It’s mooted $5 billion float has been delayed and trade sale rumours persist,” the article said.

Mr Verrochi is in 98th place with total wealth of $1.06 billion, a 10.4% increase from 2019.

Mr Gance and Mr Verrochi also own stakes in retail property group Home Consortium, which is currently repurposing former Masters sites into retail outlets.

Jina Chen and Alex Wu, founders of the Nature’s Care brand have placed at number 159 on the list, with total wealth of $680 million.

According to the AFR, the family has sold 75% of its shares in Nature’s Care, with the business valued at $800 million. they have now invested heavily in a Sydney-based online gaming startup company, Hive Gaming. 

Michael Boyd, the majority owner of pathology and diagnostics company Sonic Healthcare, placed at number 152 on this year’s list. 

Mr Boyd, who also owns 49% of Jayex Healthcare, a patient-booking platform “which has developed a terminal for remote prescription processing and dispensing”, has total wealth of $693 million.

Not appearing on the list this year was Marcus Blackmore, former co-owner and executive director of the complementary medicines giant Blackmores. Mr Blackmore was placed at number 137 as recently as the 2018 iteration of the list.




Previous Discount pharmacy chains handed cease-and-desist notices
Next 50 and beyond: supporting mature women’s health

NOTICE: It can sometimes take awhile for comment submissions to go through, please be patient.