James Packer

James Packer
James Packer
Born	September 8, 1967 (age 59); Sydney, Australia
Occupation(s)	Entrepreneur, investor
Known for	Leadership of Consolidated Press Holdings, Crown Resorts
Notable work	Former executive chairman of Publishing and Broadcasting Limited (PBL), Consolidated Media Holdings, Crown Resorts

James Douglas Packer (born 8 September 1967) is a prominent Australian billionaire entrepreneur and investor. As the son of media titan Kerry Packer and grandson of Frank Packer, he inherited leadership of the family enterprise, Consolidated Press Holdings Limited, along with substantial holdings in Crown Resorts and various other ventures. He previously held executive chairman roles at Publishing and Broadcasting Limited (PBL), Consolidated Media Holdings, and Crown Resorts.

By May 2023, Packer's fortune was estimated at 4.95 billion according to the Financial Review Rich List, positioning him eighteenth among Australia's wealthiest individuals; he had been the nation's richest in both 2006 and 2007. In January 2019, Forbes Asia appraised his net worth at 3.6 billion, ranking him ninth among Australian billionaires. The Federal Court's approval in June 2022 of Blackstone's takeover of Crown Casinos resulted in Packer receiving a payout of 3.36 billion for his 37 percent ownership—a company he had been engaged with since 1999. Furthermore, Packer maintains an investment stake in ADH TV, although its valuation remains private.

Early life and education

Born in Sydney to philanthropist Roslyn Packer (née Weedon) and media magnate Kerry Packer, James Packer is the grandson of Sir Frank Packer, a renowned media proprietor. He attended Cranbrook School located in Bellevue Hill, Sydney. After completing his HSC, he spent time working as a jackeroo on his father's cattle station at Newcastle Waters in the Northern Territory. Packer did not pursue university studies, citing inadequate academic results. His formative influences included his father and corporate leader Albert J. Dunlap.

Initial internet ventures

Following the dotcom bubble burst of 2000–2001, Packer directed investments into online classified platforms such as Seek and Carsales.com, foreseeing their potential to disrupt traditional newspaper classifieds for job listings and vehicle sales.

In August 2003, he purchased a 25% share in SEEK for A$33 million, later divesting most of this holding six years onward for A$440 million. Under his guidance, the family-controlled magazine publisher Australian Consolidated Press acquired a 41% interest in Carsales in October 2005. Initially valued at A$100 million, this stake eventually appreciated to A$462 million within entities controlled by Packer.

Divestment of Channel Nine

By March 2006, Packer was contemplating the sale of Channel Nine along with the Australian Consolidated Press magazine group to finance growth in international gaming and tourism sectors. Due to concerns about the sustainability of free-to-air television amid evolving Internet use and pay-TV competition, he completed an agreement on 17 October 2006 to sell half ownership of these media assets—including a 50% interest in web portal Ninemsn and a controlling 51% share in Carsales—to private equity firm CVC Asia Pacific for A$4.5 billion, plus A$1 billion equity participation in the newly formed entity, PBL Media.

In June 2007, he further sold a quarter stake of PBL Media to CVC for $515 million. By October 2008, he had written down his remaining ownership interest of 25% to zero value. By late 2012, mounting debt from CVC’s acquisition had severely impacted Channel Nine’s financial health, prompting US hedge funds to remove CVC from control and assume full ownership.

One.Tel

Packer served as a director of the Australian telecommunications firm One.Tel, which went bankrupt in May 2001, resulting in a loss of A$327 million for PBL. He admitted to having learned "painful lessons" from this collapse but clarified during the liquidator's investigation that his regret was directed at placing trust in the company's management rather than his own actions.

In April 2014, Packer and Lachlan Murdoch reached a settlement amounting to A$40 million related to the One.Tel failure. The Supreme Court of New South Wales ratified the agreement, with funds allocated among the Packer family's Consolidated Press Holdings (A$14.93 million), Packer's Crown Resorts (A$11.77 million), and News Corp (A$13.3 million).

Crown Resorts

Following his father's passing, Packer redirected his efforts from traditional media towards expanding a worldwide gambling enterprise through Crown Resorts. The company manages integrated resorts and casinos across Australia and Macau, and fully owns the upscale Crown Aspinall's casino located in London. By October 2017, Crown's market value had surpassed $8 billion. Packer stepped down as executive chairman on 21 March 2018. In May 2019, he divested half of his Crown Resorts shares to Lawrence Ho.

In October 2020, during a hearing assessing Crown's eligibility for a New South Wales casino licence, Packer confessed to issuing "shameful" threats against businessman Ben Gray. The inquiry in February 2021 concluded that Crown was unfit to hold the licence, citing Packer's behavior alongside the company's ongoing associations with junket operators linked to triads and organized crime groups. In February 2022, The Blackstone Group purchased Crown Resorts for A$8.9 billion (US$6.4 billion). At that time, Packer owned 37% of Crown shares and received A$3.36 billion from the transaction.

Other business activities

In 2010, Packer acquired an 18% ownership in Network Ten, promptly selling half of it to Lachlan Murdoch. After disagreements regarding a senior executive appointment, he resigned from Network Ten's board three months later amid speculation about conflicts with his Consolidated Media Holdings interests. Following CBS's reorganization of Network Ten in 2017, Packer no longer maintained any ownership in the network.

Through Consolidated Press Holdings in May 2011, Packer invested roughly A$80 million in daily deal platforms Scoopon and Catch of the Day, collaborating with investors including Andrew Bassat, co-founder of Seek.com.au.

In December 2012, Packer joined forces with producer Brett Ratner to establish RatPac Entertainment. Their inaugural financed film, Gravity (2013), recorded the strongest October opening ever in the US and grossed over $100 million within five days. He sold his stake in RatPac Entertainment in April 2017. Industry observers regard his involvement in film financing as one of his significant positive contributions.

In October 2014, Packer acquired Peter Holmes à Court’s 37.5% shareholding in the South Sydney Rabbitohs NRL team, becoming Russell Crowe’s partner within Blackcourt League Investments Pty Limited.

After divesting his $3.3 billion stake in Crown Resorts in 2022, Packer streamlined his investment portfolio to concentrate on leading technology stocks, artificial intelligence ventures, and real estate assets. As of 30 June 2024, his portfolio includes nearly $500 million invested in Nvidia, $452 million in Meta, and $366 million in Taiwan Semiconductor Manufacturing Company.

Personal life

Packer possesses residential real estate in Sydney's eastern suburbs, specifically in Bondi Beach and Bellevue Hill. The Packer family also owns a pastoral estate known as Ellerston Station, which has been under the ownership of his sister, Gretel, since 2018. After his first marriage ended and through his association with actor Tom Cruise, Packer participated in business courses offered by the Church of Scientology in Australia in Dundas in 2002. He later acknowledged these courses as "helpful" but eventually distanced himself from the organization. In 2020, amid the Crown Casinos inquiry, he revealed that he has been diagnosed with bipolar disorder.

Relationships

Packer and actress Kate Fischer ended their five-year relationship, which included a two-year engagement, in 1998. He entered into marriage with Jodhi Meares in Sydney in October 1999; this union lasted for two years before concluding in 2002. In June 2007, Packer married part-time model and singer Erica Baxter during a civil ceremony held in Antibes, France, followed by a second ceremony at the Hotel du Cap – Eden Roc on the French Riviera. Together, they have three children: a daughter born in July 2008, a son born in February 2010, and another daughter born in September 2012. The couple publicly announced their separation in September 2013.

In January 2016, Packer became engaged to American singer-songwriter Mariah Carey, but the couple separated by October of the same year. Initial reports attributed their breakup to disagreements over Carey's expenditures and her reality television series Mariah's World, although Packer later characterized the relationship as a mutual "mistake." In November 2017, Packer settled with Carey for a multi-million dollar amount following her lawsuit, which cited an "inconvenience fee." By 2019, Packer was reported to be dating Kylie Lim.

Philanthropy

Packer has contributed to Australian healthcare organizations such as the Victor Chang Cardiac Research Centre and the Peter MacCallum Cancer Centre, alongside supporting mental health initiatives including Lifeline.

He established both the Packer Family Foundation and Crown Resorts Foundation. In July 2014, these foundations launched a National Philanthropic Fund valued at AUD 200 million, marking one of Australia's most significant philanthropic efforts. Their priorities include Indigenous education, arts and culture, and fostering partnerships that promote social harmony. The foundations emphasize educational engagement for young Australians to enhance long-term prospects.

The Packer Family Foundation has allocated $50 million toward arts and cultural institutions as well as arts education programs targeting communities with lower socioeconomic status. These initiatives operate in regions such as Mt Druitt, Liverpool, Campbelltown, Penrith, and Blacktown with the aim of improving educational achievements and school participation.

Maintaining its commitment to mental health, in March 2023 Packer and his foundation donated $6 million to Lifeline International to aid global efforts toward suicide decriminalization. Subsequently, in May 2023 they jointly contributed $7 million to the University of New South Wales to fund research focused on mood disorders.

Controversies

In 2014, Packer was involved in a widely publicized physical confrontation at Bondi Beach with David Gyngell, then CEO of Channel Nine and a longtime associate. Both individuals received fines of $500 for offensive conduct.

Towards the end of 2016, Israeli authorities investigated allegations that Packer had given gifts to relatives of Prime Minister Benjamin Netanyahu. While seeking residency status in Israel, Packer registered with Israeli tax officials. By February 2018, he was mentioned in an Israeli Police report recommending corruption charges against Netanyahu; the report detailed gifts including champagne, cigars, jewelry, and clothing valued at approximately US$100,000.

In March 2019, leaked text messages surfaced revealing that Kevin Tsujihara promised auditions and film roles to actress Charlotte Kirk in exchange for sexual favors during 2013. Packer was implicated as facilitating this arrangement by using his influence. In September 2020, Kirk’s legal representatives petitioned the Los Angeles Superior Court to lift a gag order connected to the case amid allegations of non-consensual sex involving Tsujihara.

Net worth

James Packer entered the wealth rankings in 2006 after receiving the majority of his father Kerry Packer's estate, which was estimated at A$7.25 billion. In the 2008 BRW Rich 200 list, he was ranked as Australia's third-wealthiest individual with a net worth of A$6.1 billion, trailing behind Andrew Forrest and Frank Lowy—this marked the first occasion in over two decades that a Packer was not Australia's richest person. His fortune fell to approximately A$3 billion in 2009 but recovered to A$6.0 billion by 2013 and increased further to A$7.19 billion in 2014, retaining third place. By 2015, his wealth was assessed at A$6.08 billion, placing him seventh. According to the Financial Review Rich List in 2025, his net worth stood at A$4.98 billion, ranking him 30th among Australia's wealthiest.

In early 2009, it was reported that financial difficulties compelled Packer to divest assets such as his Mangusta yacht and postpone acquiring a Boeing aircraft. Nevertheless, by mid-2010, his possessions included luxury items like the superyacht Ellerston Z, the cruise vessel Arctic P, a private jet, a Sikorsky S-76 helicopter, and various automobiles. As of 2019, Forbes estimated his net worth at US$3.6 billion, down from US$6.6 billion in 2014. In 2017, he was ranked as Australia's ninth-richest individual with an estimated fortune of US$3.9 billion according to Forbes.

Wealth rankings

2018 2019 2020 2021 2022 2023^[1] 2024^[2] 2025^[3]

Year	Financial Review Rich List		Forbes Australia's 40 Richest
Year	Rank	Net worth (Template:AUD)	Rank	Net worth (Template:USD)
2006	Template:Nts Increase	$7.10 billion Increase	Template:Nts Increase	$5.20 billion Increase
2007	Template:Nts Increase	$7.25 billion Increase	Template:Nts Steady	$5.50 billion Increase
2008	Template:Nts Template:Loss	$6.10 billion Template:Loss	Template:Nts Template:Loss	$5.30 billion Template:Loss
2009	Template:Nts Template:Loss	$3.00 billion Template:Loss	Template:Nts Increase	$3.10 billion Template:Loss
2010	Template:Nts Steady	$4.10 billion Increase	Template:Nts Template:Loss	$3.50 billion Increase
2011	Template:Nts Decrease	$4.16 billion Increase	Template:Nts Steady	$4.40 billion Increase
2012	Template:Nts Steady	$5.21 billion Increase	Template:Nts Template:Loss	$4.50 billion Increase
2013	Template:Nts Template:Gain	$6.00 billion Template:Gain	Template:Nts Increase	$6.00 billion Increase
2014	Template:Nts Steady	$7.19 billion Increase	Template:Nts Steady	$6.60 billion Increase
2015	Template:Nts Decrease	$6.08 billion Decrease	Template:Nts Decrease	$4.70 billion Decrease
2016	Template:Nts Steady	$5.00 billion Decrease	Template:Nts Decrease	$3.50 billion Decrease
2017	Template:Nts Decrease	$4.79 billion Decrease	Template:Nts Decrease	$3.90 billion
align = "center" \| Template:Nts Decrease	align = "right" \| $5.50 billion Increase
align = "center" \| Template:Nts Template:Loss	align = "right" \| $4.94 billion Template:Loss	align = "center" \| Template:Nts Steady	align = "right" \| $3.60 billion Template:Loss
align = "center" \| Template:Nts Steady	align = "right" \| $4.69 billion Decrease
align = "center" \| Template:Nts Decrease	align = "right" \| $5.72 billion Template:Up
align = "center" \| Template:Nts Decrease	align = "right" \| $6.00 billion Template:Up
align=center\| Template:NtsDecrease	align=right\| $4.95 billionDecrease	align=center\|	align=right\|
align=center\| Template:NtsDecrease	align=right\| $5.69 billionTemplate:Up	align=center\|	align=right\|
align=center\| Template:NtsDecrease	align=right\| $4.98 billionDecrease	align=center\|	align=right\|

Unchanged from previous yearIncreased from previous yearDecreased from previous year }

Bibliography

External links

"Some Inspirational People" A profile by Laurence MacDonald Muir.
James Packer media profile

Description

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