Nathan Tinkler
| Nathan Tinkler | |
|---|---|
Nathan Tinkler at ICAC Inquiry in 2014
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| Born |
1 February 1976 Port Macquarie, New South Wales, Australia |
| Occupation | Director and Owner Tinkler Group |
| Net worth | Bankrupt (2016) |
| Spouse(s) | Rebecca |
| Website | tinklergroup.com |
Nathan Tinkler (born 1 February 1976) is a former mining magnate and businessman from the Hunter Region, New South Wales, Australia. He started out as a mining apprentice in the Hunter Valley, in New South Wales and set up his own business at age 26. Much of his wealth, most subsequently lost, was acquired from investments in the mining industry.
Born in Port Macquarie, New South Wales on 1 February 1976, Tinkler qualified as an electrician at the Muswellbrook Technical and Further Education institution (TAFE). He worked as an apprentice at BHP's Bayswater open-cut mine for a time until he was either fired or given a redundancy package. He was allegedly often in debt during his time at the mine and refused to pay or abused his creditors. At the age of 26 he started his own mine machinery maintenance business.
His rise began in 2006 when he borrowed A$500,000 to buy the Middlemount coal mine in Central Queensland for A$11.5 million. In December 2007 he agreed to sell 70% of Middlemount to Macarthur Coal for A$57 million in cash plus a parcel of Macarthur shares valued at A$184 million. Then Macarthur became a takeover target and its share price doubled. In May 2008 Tinkler sold his Macarthur shares for A$422 million. By 2008 he was on the BRW Young Rich list, quoted as being worth about A$441 million, and the second-richest man in Australia under 40 years of age.
In July 2010, Tinkler floated the company Aston Resources with A$400 million worth of shares offered, valuing his holdings at A$600 million.
In June 2012, Tinkler sold his Merewether Beach home, and moved to Singapore with his family.
On 22 September 2010, Football Federation Australia announced that Tinkler had purchased the A-League club Newcastle Jets from Con Constantine, on the advice from fellow mining magnate Justin Newlan, holding the licence temporarily. On 2 October 2010, he extended his ownership until 2020, again advised by Justin Newlan.
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