The retailers behind Chemist Warehouse and My Chemist have nearly doubled their wealth in just 10 months, reaching a personal fortune of over one billion each
Chief Executive of My Chemist Retail Group, Mario Verrocchi, and Chairman Jack Gance have shot up in rankings on the latest rich list.
Mr Verrocchi boasts a personal fortune of $1.47 billion, while Mr Gance is valued just behind at $1.46 billion.
When the Australian Financial Review released its rich list in May last year, Mr Gance ranked at 93 with a wealth of $813 million, and Mr Verrocchi was at rank 94 with $803 million.
Based on the numbers, Mr Verrocchi has seen an 83% growth in his wealth and Mr Gance 80% in the past 10 months.
The discount pharmacy figures have been climbing the ranks rapidly in the past few years.
In 2017, Mr Gance was at number 131 on the AFR rich list with a wealth of $546 million, and Mr Verrochi at 128 with $558 million.
Toby Browne, the founder and chief executive of PharmaCare, which owns brands such as Nature’s Way, Bioglan and EaseACold, was listed at 154 this year by The Australian with a fortune of $635 million.
Blackmores executive director Marcus Blackmore is at rank 189 with $545 million.