Richard Pratt (businessman)

Richard Pratt
Born	Ryszard Przecicki Template:Birth date Free City of Danzig (present-day Gdańsk, Poland)
Died	April 28, 2009(2009-04-28) (aged 74) Kew, Melbourne, Australia
Occupation(s)	Entrepreneur, businessman
Known for	Chairman of Visy Industries, President of Carlton Football Club

Richard J. Pratt (originally Ryszard Przecicki; 10 December 1934–28 April 2009) was a distinguished Australian entrepreneur, serving as chairman of the privately held Visy Industries, and was a notable personality within Melbourne's social circles. Prior to his passing, Pratt ranked as the fourth wealthiest individual in Australia, with an estimated net worth of A$5.48 billion.

Early life

Pratt was born in the Free City of Danzig (present-day Gdańsk, Poland) to Jewish parents Leon and Paula. In 1938, his family relocated to Australia to avoid Nazi persecution, settling in Shepparton, Victoria, and adopting the surname Pratt instead of Przecicki. His education included attendance at Grahamvale Primary School, Shepparton High School, and University High School, followed by enrollment at the University of Melbourne in 1953 to pursue a Bachelor of Commerce degree.

As an Australian rules footballer, Pratt played as a ruckman initially for Lemnos (now known as the Shepparton Swans) and subsequently for Carlton’s under-19 team in the Victorian Football League (VFL). He earned the Morrish Medal in 1953, awarded to the best and fairest player under 19. Despite this achievement, he chose not to advance to senior VFL football, opting instead to focus on other endeavors.

During his university years, Pratt was active with the Melbourne Theatre Company's Union Theatre Repertory Company and simultaneously worked as a salesman for Visy Board, the family enterprise. In 1957, he toured internationally with a production of Ray Lawler’s Summer of the Seventeenth Doll, visiting London and New York before returning to Melbourne and resuming work at Visy. He also appeared on television during this period.

Business career

Following the death of his father Leon in February 1969, Pratt assumed control of Visy Industries, which at that time employed several hundred workers and had an annual revenue of A$5 million. Under his guidance, Visy expanded from just two factories based in Melbourne to more than 55 facilities spanning Australia, the United States, New Zealand, and Papua New Guinea. The company broadened its operations beyond cardboard packaging into waste paper recycling, significantly growing its waste paper business in New York during the 1990s.

In 1993, Pratt’s offices were raided by the National Crime Authority (NCA) amid investigations linked to businessman John Elliott’s foreign exchange transactions and insolvency matters involving BHP and Elders IXL. The following year, the NCA returned confiscated documents and reimbursed associated costs.

Additionally, during the 1990s Visy faced a penalty of A$500,000 imposed by the Australian Competition & Consumer Commission (ACCC) due to unlawful anti-competitive conduct.

Public career

Outside his commercial pursuits, Pratt occupied significant public positions such as inaugural chancellor of Swinburne University of Technology, president of the Victorian Arts Centre Trust, and chairman of the Mental Health Research Institute of Victoria.

The Pratt family became prominent philanthropists through the Pratt Foundation, contributing up to A$10 million annually. In recognition of his environmental efforts, Pratt was honored as Environmental Visionary of the Year in 1998 by the Keep Australia Beautiful Campaign.

He also made substantial political donations amounting to A$300,000 during fiscal year 2004–05, including contributions supporting Prime Minister John Howard’s Liberal government.

An investigation conducted in 1996 by The Australian uncovered that Pratt maintained an extensive advisory network involving payments to former political leaders. This included monthly consulting fees of A$8,300 paid to former Prime Minister Bob Hawke for guidance on "Asian and government matters," A$27,000 compensated to former Prime Minister Gough Whitlam for business advisory services related to US travel and international markets, as well as remuneration provided to ex-state premiers Nick Greiner and Rupert Hamer.

Carlton Football Club President

On 8 February 2007, Richard Pratt was appointed President of the Carlton Football Club by the club's board, succeeding Graham Smorgon. Throughout his presidency, Pratt implemented crucial reforms that played a vital role in restoring both the club’s financial health and competitive performance. He secured a landmark sponsorship deal with Hyundai and was instrumental in helping Carlton surpass the milestone of 40,000 members for the first time. Pratt also managed key leadership appointments, including hiring Steven Icke as General Manager of Football Operations and bringing in former Collingwood Football Club CEO Greg Swann to serve as Carlton’s CEO. These strategic moves contributed significantly to stabilizing the club’s administrative functions.

On 20 June 2008, Pratt temporarily relinquished his presidential duties amid ongoing investigations related to allegations of providing false and misleading testimony to the ACCC. He was subsequently replaced by Stephen Kernahan as President of the Carlton Football Club.

Personal life

Richard Pratt married Jeanne (née Lasker), a journalist and Jewish immigrant from Poland, in 1959. Following the growth and success of Visy Industries, the couple enjoyed an affluent lifestyle that included ownership of a private jet and several residences, such as a penthouse in New York City and their primary home at Raheen, a historic mansion located in Melbourne’s Kew suburb. Together, they had three children: Anthony Pratt, Heloise Waislitz—who is married to businessman and Collingwood Football Club Vice President Alex Waislitz—and Fiona Geminder.

In addition, Pratt fathered another daughter, Paula, born in 1997 with his longtime mistress, socialite Shari-Lea Hitchcock. This affair became publicly known in 2000 following a legal dispute involving Ms. Hitchcock and a nanny, during which Pratt was accused of attempting to offer hush money.

Pratt also served as godfather to Deborah Beale, who is the former wife of Bill Shorten and daughter of Julian Beale.

After battling prostate cancer publicly, Richard Pratt passed away at his residence in Kew on 28 April 2009, shortly after all charges against him were dismissed on grounds of ill health.

Philanthropy

Through the Pratt Foundation, Richard Pratt contributed A$10 million annually to support refugees, artists, and various other charitable causes. Founded in 1978 by Jeanne and Richard Pratt, the Foundation concentrated its efforts on advancing arts initiatives, medical research, and higher education during the 1980s and 1990s. Collectively, the Pratt family has donated approximately A$200 million across numerous philanthropic endeavors. Jeanne Pratt also established The Production Company, which was responsible for staging musicals in Melbourne from 1999 until 2020.

Conviction for price fixing

In December 2005, the ACCC launched civil penalty proceedings against Visy companies, Richard Pratt, and others for their involvement in a cartel within the packaging industry.

On 10 October 2007, Pratt faced formal charges related to price fixing, accused of defrauding customers out of nearly A$700 million in what became Australia’s largest cartel case. The ACCC characterized the violations as "very serious contraventions" that were "carefully and deliberately concealed" by Visy’s senior executives. Evidence presented included secret meetings and use of untraceable prepaid mobile phones, demonstrating clear awareness of illegal activities.

Initially denying these allegations, Pratt later admitted guilt alongside competitor company Amcor, acknowledging intentional breaches of law. He expressed distress over reputational harm, stating:

"I feel very angry—Visy is seen as Richard Pratt's company... My reputation is something I have been building for 50 years and so I am worried that the general public will now see me as a rich person who has made his money doing something that is wrong in the eyes of the law."

On 2 November 2007, both Pratt and Visy were fined $36 million—the largest penalty ever imposed in Australia—equivalent to about 0.75% of Pratt’s wealth. Federal Court Justice Heerey described this case as "the worst cartel to come before the courts in more than three decades." Additionally, customers pursued legal claims against Visy and Amcor, including a $120 million lawsuit filed by Cadbury Schweppes against Amcor.

Criminal charges related to misconduct

On 19 June 2008, Pratt was formally accused of providing false statements regarding his awareness of a price-fixing controversy. He was indicted on four counts under Section 5 of the Act, with each charge punishable by a fine up to $2,200 or imprisonment for up to 12 months.

The legal case against Pratt for allegedly deceiving the ACCC during its inquiry into the Visy/Amcor price-fixing matter was discontinued on 27 April 2009 due to his deteriorating health and imminent death. Commonwealth Prosecutor Mark Dean SC noted that the case had a strong likelihood of success. Pratt passed away the following day.

Honours

Pratt was made an Officer of the Order of Australia (AO) in 1985 and elevated to Companion of the Order (AC) in 1998. Jeanne Pratt was also honored with a Companion of the Order for her contributions to the arts and community service. Nonetheless, Richard Pratt relinquished his honours in February 2008 after being fined A$36 million for involvement in price fixing.

On 16 May 2007, he was awarded the Woodrow Wilson Medal for Corporate Citizenship, recognizing business leaders who prioritize societal welfare beyond financial gain.

In April 2010, marking the first anniversary of his death, the inaugural Richard Pratt Memorial Oration took place at the University of Melbourne, delivered by Hebrew University president Professor Menahem Ben-Sasson. Posthumously, Pratt received an honorary Doctorate of Philosophy from Hebrew University.

Within the Australian Football League, during every Carlton Football Club home game against Collingwood Football Club, the victorious team is presented with the Richard Pratt Cup.

External links

• "Some Inspirational People"; a profile by Laurence Muir.