Gerry Harvey
Gerry Harvey | |
|---|---|
| Born | September 18, 1939 New South Wales, Australia |
| Occupation(s) | Entrepreneur, executive chairman |
| Known for | Executive chairman of Harvey Norman Holdings |
Gerry Harvey (born 18 September 1939) is a prominent Australian entrepreneur recognized primarily as the executive chairman of Harvey Norman Holdings, the company behind the Harvey Norman retail chain in Australia. He established the business alongside Ian Norman in 1982.
Biography
Originating from rural New South Wales, Harvey attended schools in Bathurst and Katoomba before relocating to Sydney at age 17 to pursue university studies, which he ultimately did not complete. His early professional experience involved selling vacuum cleaners and refrigerators directly to customers for Goodwins of Newtown. Initially, his ambition was to pursue a career in farming.
Harvey's partnership with Ian Norman began when both worked as door-to-door vacuum salesmen.[1] Together, they opened their first retail outlet in Sydney in 1961 under the brand Norman Ross. By 1979, this enterprise had expanded to 42 stores with annual revenues reaching $240 million.[1] In 1982, the company was sold to Grace Bros. for $23 million and later transferred to Alan Bond's Walton Bond group. Subsequently, on directives from Alan Bond through John Walton, Harvey was terminated from the company.
Later that same year, Harvey and Ian Norman—who acted as a silent partner—founded Harvey Norman, launching its inaugural store in Auburn, NSW. The business grew to include other retail brands such as Domayne and Joyce Mayne. Harvey is actively involved in the company's leadership and often represents the brand as its advertising spokesperson. He regularly provides commentary on economic and commercial matters through media channels and is noted for his critical stance on executive pay, favoring equity-linked incentives rather than excessive salaries.
In 1999, Harvey collaborated with George Goh Ching Wah of Ossia International Limited to establish a $S33 million joint venture named Harvey Norman Ossia (Asia), aimed at expanding the brand’s presence throughout Asia.<ref>
In January 2011, Harvey spearheaded a contentious campaign alongside several Australian retailers targeting tax regulations that allowed Australians to make overseas online purchases without incurring GST. When the Federal Government tasked the Productivity Commission with examining the retail industry, Harvey dismissed their findings as futile and admitted he had not reviewed the report.<ref>
Thoroughbred business interests
Over the past ten years, Harvey has diversified into thoroughbred breeding, owning Baramul Stud and managing one of the globe’s largest collections with upwards of 600 thoroughbred horses. Additionally, he holds a 50% ownership interest in Magic Millions, a leading and high-profile thoroughbred auction event within Australia’s racing sector.
Personal life
Harvey has two children from his first marriage to Lynette. In 1988, he married Katie Page; they have two children together. Since 1999, Page has been serving as the CEO of Harvey Norman.
In 2008, Harvey sparked controversy by describing charitable efforts aimed at assisting homeless people as "a waste," though he later clarified his remarks and confirmed his ongoing philanthropic contributions. In 2016, he voiced dissatisfaction with political instability following John Howard’s tenure, indicating a preference for more authoritarian governance similar to that of China’s.
Net worth
In 2014, Business Review Weekly (BRW) estimated Harvey's net worth at 1.55 billion Australian dollars, reflecting a 9 million increase compared to 2013. Between 2013 and 2020, his personal wealth was evaluated independently; starting in 2021, the Financial Review began reporting the combined net worth of Harvey and Page. The most recent valuation from May 2025 indicates their shared net worth stands at 3.82 billion.
| Year | Financial Review Rich List |
Forbes Australia's 50 Richest | ||
|---|---|---|---|---|
| Rank | Net worth (A$) | Rank | Net worth (US$) | |
| 2013 | 24 | $1.46 billion | 28 ↓ | $0.93 billion ↑ |
| 2014 | 21 ↑ | $1.55 billion ↑ | 20 ↑ | $1.18 billion ↑ |
| 2015 | 18 ↑ | $1.30 billion ↑ | ||
| 2016 | 19 ↓ | $1.35 billion ↑ | ||
| 2017 | 21 | $2.34 billion ↑ | 25 ↓ | |
| 2018 | 28 ↓ | $2.12 billion ↓ | ||
| 2019 | 40 ↓ | $1.90 billion ↓ | 32 ↓ | $1.35 billion ↓ |
| 2020 | 31 ↑ | $2.57 billion ↑ | ||
| 2021 | 28 ↑ | $3.20 billion ↑ | ||
| 2022 | 32 ↓ | $3.30 billion ↑ | ||
| 2023 | 37 ↓ | $2.91 billion ↓ | ||
| 2024 | 38 ↓ | $3.39 billion ↑ | ||
| 2025 | 39 ↓ | $3.82 billion ↑ | ||
| Indicates no change compared to the prior year |- | | Represents an increase from the previous year |- | | Denotes a decrease from the previous year |- |
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