Both businesses have independently amended their guidance. Sign Up for Take Stock Kerry Stokes’ interests run far and wide. Stokes is far more widely associated with the media. Listen to Our Podcast He employs a combination of macro economics and company specific data to gauge what he believes are tomorrow’s best investments. The integrated newspaper and television operations in WA share the same building in Perth, with the site itself up for sale as Seven West Media tries to cut its huge debt. He was invested as a Companion in the General Division of the Order of Australia (AC) in recognition of his contributions to Australian business. Kerry Matthew Stokes AC (born John Patrick Alford on 13 September 1940) is an Australian businessman. Learn about investing with our Investing Education hub. Seven Group is relying heavily on earnings from its core WesTrac and Coates Hire businesses after big hits to its media and oil and gas interests. Get Started Investing Rather, as the AFR‘s Rich List revealed, Stokes made hay from his Saracen shareholdings. Past performance is not necessarily indicative of future returns. The Saracen Mineral Holdings Limited (ASX: SAR) share price gained 50% over the past 12 months. Here's how the night unfolded. For more information please see our Financial Services Guide. © 2009 - 2020 The Motley Fool Australia Pty Ltd. All rights reserved. Our Top 5 Stocks for Investors 50 or Older – NOW AVAILABLE! Remarkably, his holdings in the Aussie gold miner were worth more than the entirety of Seven West Media. Perhaps the EPA can tell us. Kerry Stokes AO holds business interests in a diverse range of industries including electronic and print media, property, mining, and construction equipment. He is most widely known as the chairman of Seven Group Holdings, which owns Caterpillar mining equipment franchisee Westrac and is the biggest shareholder in Seven West Media, one of the largest publishing and broadcasting corporations in … The Seven Group owns 41 per cent of Seven West Media, where Kerry Stokes is also the chairman. We will use your email address only to keep you informed about updates to our website and about other products and services we think might interest you. Saracen is part of the S&P/ASX 200 Index (INDEXASX: XJO). Each company boasts strong growth prospects over the next 3 to 5 years, and most importantly each pays a generous (and fully franked) dividend! Saracen’s share price has gained twice as much as the price of gold since this time last year, which saw gold go from US$1,495 per ounce to US$1,877 per ounce today. Michael West News has just published an article on Kerry Stokes regarding his links to former WA Premier Richard Court which also touches on Stokes using his media to push his business interests and says: While Stokes is publicly recognised first and foremost as a media mogul through his ownership of the Seven Network though Seven West Media Limited, most of Stokes’ wealth is derived … You can unsubscribe at anytime. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. Find the investing style that's right for you. We still believe in the value of the integrated model and the value of The West and the opportunity for cross promotion between television and print," he said. Mr Stokes said the ability to keep key industries operating where possible was essential to financial stability and Australia's capacity to recover from the worst of the pandemic. The company said COVID-19 control measures already put in place by governments had hit advertising markets and major sporting events and in turn its earnings referable to Seven West Media, while the plunge in the oil price will impact earnings from Beach Energy. Hear our experts take on shares, the market & how to invest. Stokes is one of the richest and most powerful men in Australia, with interests in mining, construction and media, and an estimated net worth of US$2.4bn. The Motley Fool Australia does not guarantee the performance of, or returns on any investment. The Motley Fool Australia operates under AFSL 400691. In this FREE STOCK REPORT, Scott Phillips just revealed what he believes are the 3 ASX stocks for the post COVID world that investors should buy right now while they still can. The Complete Guide to Planning For Your Retirement, Setting up an SMSF: 10 Things You Need to Know Before Starting, 3 easy steps to building your ASX share portfolio for an early retirement, 4 tips on how to pick winning stocks for your retirement share portfolio, This is the best asset to own to start saving for your early retirement, Commonwealth Bank of Australia (ASX: CBA), Flight Centre Travel Group Ltd (ASX: FLT), Vanguard Australian Shares Index (ASX: VAS), Why the Unibail (ASX:URW) share price gained 5% today, How the Saracen (ASX:SAR) share price stoked Kerry Stokes’ multi-billion dollar wealth, It’s not just Aussie Millennials driving the Afterpay (ASX:APT) share price to new records. Saracen Mineral Holdings is an Australian gold producer. "We have seen a big step down in oil demand. According to the Australian Financial Review‘s Rich List, Stokes wealth grew 10.2% year-on-year, reaching $6.3 billion. 12 Stocks To Buy in 2020 (Including 2 Every Investor Should Own), Everything You Need to Know About Tech Investing, The Beginner’s Guide to Investing in Gold. In the case of Seven West Media and Beach Energy, Mr Stokes said the two businesses may need to consider government assistance options, which include the JobKeeper package. Former Labor deputy premier Jackie Trad is the biggest casualty in the Queensland election. The Greens could win as many as four seats. "With those provisions in place those sectors should continue to function to support our economy as much as possible," he said. Labor Premier Annastacia Palaszczuk's hard line on keeping Queensland's borders closed has been a major part of her strategy for re-election. Authorised by Scott Phillips. While many factors continue to support gold prices, the World Gold Council reported that the world’s central banks became net gold sellers for the first time in 10 years in the third quarter of 2020. Seven Group Holdings managing director Ryan Stokes says Australia's resources and construction sectors are on track to continue operating through the coronavirus crisis based on government support and effective measures to screen and protect workers. Infrastructure-aligned Coates Hire's revenue is up 3 per cent despite losing the events segment of market. Donald Trump and Joe Biden crisscrossed battleground states as their campaigning reaches a final fever pitch. Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned.
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