News Articles for AMB Holdings

The Bennett family-run AMB Consolidated will face charges over a worker's fall at a private farm north-east of Perth, an incident which a contractor has been fined $750,000 for.

Two of Western Australia's most successful families – the Bennetts and the Martins – have seen changes in the ranks of key advisers to their business interests.

The generational transfer of wealth has garnered plenty of eye-popping estimates, with the WA story being about founders.

A new philanthropic foundation funded to the tune of $25 million has clarified the reclusive Bennett family's intentions to use their wealth to fund environmental causes.

Mitsui's new stake in Rio Tinto's Rhodes Ridge iron ore project has unlocked $10 billion in wealth for the heirs of Peter Wright, pushing Angela Bennett into fifth on our Rich List.

Japanese trading house Mitsui & Co will take a US$5.3 billion stake in Rio Tinto's 6.8 billion tonne Rhodes Ridge iron ore project in the Pilbara.

Perth company Wright Prospecting has reported another massive profit as its low-key owners reap the benefits of an iron ore royalties deal negotiated more than 50 years ago.

The newly opened Ruah Community Services' centre for women and children fleeing domestic violence will be named after one the state's most reclusive billionaires, Angela Bennett.

Office developments have become more ESG conscious, with several projects under way in Perth.

Perth's super-rich Wright family has reaped a further $235 million in profits from iron ore royalties, but the most revealing number in their family company accounts was the big spend on lawyers.

Angela Bennett's private company AMB Holdings has cleared a planning hurdle for its $20 million office move to another western suburb.

Mining heiress Angela Bennett's private company AMB Holdings is eyeing an expansion, proposing to build a $20 million office and apartment development in Swanbourne.

Virtually unknown in WA a decade ago, the family office has become an established niche.

Perth dealmaker Michael Ashforth is making a return to investment banking, seven years after he retired from Macquarie Capital to work for ‘rich lister' Angela Bennett.

The low-profile Perth billionaires bought the asset from global aerospace and defence group L3Harris Technologies for $4.18 million.

Cottesloe is home base for many in the investment world.

Privately-owned Perth company Wright Prospecting has posted yet another extraordinarily large annual profit as it reaped the benefits of the booming iron ore market.

Wright Prospecting has continued to generate huge profits and dividends for its low-profile Perth owners while also revealing a board restructure after the retirement of chairman Ian Cochrane.

Julian Wright has commenced legal action in the Supreme Court, claiming he was defrauded when he sold his share of the family company to his siblings, 'rich listers' Angela Bennett and the late Michael Wright.

Perth-based Wright Prospecting has confirmed its status as one of the country's most profitable companies, lifting its annual earnings on the back of higher iron ore prices and paying a whopping $172 million dividend to its owners.

The descendants of iron ore pioneer Peter Wright have received total dividends of $702 million over the past three years, according to recently lodged financial statements that also reveal the big legal expenses they have paid.

Santos is set to become the dominant supplier of gas in the Western Australian domestic market after striking a deal to buy privately-owned Quadrant Energy for $US2.15 billion ($A2.95 billion).

SPECIAL REPORT: Gina Rinehart's Hancock Prospecting and its subsidiary, Roy Hill Holdings, have moved to the top of the Business News annual ranking of private companies in Western Australia, as their surging revenue put them ahead of building company BGC Australia.

Former corporate lawyer Ian Cochrane has joined the board of Ausdrill as deputy chairman, adding to a suite of board positions on the private companies of some of Perth's wealthiest families.

Woodside Petroleum has spent the past 60 years focused on the development of its own projects in Australia, but in the space of one year, two major takeover deals collectively worth $15 billion look set to reshape the Perth-based energy giant.

The new owners of Quadrant Energy have spoken to Business News about how the $2.7 billion acquisition came together and their plans for the oil and gas producer.

Two of Perth's prominent business families have shed light on their future plans, after the Bennett family struck a deal to buy a marina operation in Fremantle from the Kailis family.

Wesfarmers has acquired a 13.7 per cent shareholding in Quadrant Energy, less than three weeks after the oil and gas producer was established as an independent company.

THE launch this month of independent oil and gas producer Quadrant Energy has underlined the big role private equity investors play in Western Australia, owning more than a dozen major businesses a

Macquarie Capital's Kate Vidgen has been named as the inaugural chair of newly formed oil and gas company Quadrant Energy, which will have six directors representing its three owners – Macquarie, Brookfield Asset Management and Angela Bennett's AMB Holdings.

The third daughter of late mining heir Michael Wright has succeeded in her bid to extract much more than she was left from his will, with a judge ruling she should get $25 million.

Some of Perth's top company directors and dealmakers, including Michael Smith, Ian Cochrane, Michael Ashforth and Tony Iannello have been recruited to help run prominent family companies.

Our inaugural Business Dynasties feature analyses WA's oldest family businesses, including some that have been running for more than 100 years, profiles Bob and Gavin Bunning 20 years after their family business was bought by Wesfarmers, and looks at the role of ‘outsiders' like Neil Hamilton, Michael Smith and Ian Cochrane in some of WA's most notable family enterprises. Also, see our new WA Business Dynasties list.

Andrew and Nicola Forrest's Minderoo Group has recruited finance executive Aaron Hood to take charge of its expanding commercial investment activities.

The appointment of investment banker Michael Ashforth as manager of the Bennett family's $1.5 billion fortune highlights the maturing of Western Australia's private wealth market.