Australians give away the vast majority of their wealth, as some $1.5 trillion has been passed on to the next generation since 2002, the Productivity Commission finds.
Atlassian co-founder and billionaire Mike Cannon-Brookes has purchased a stake in NRL club South Sydney Rabbitohs, after recently becoming a minority owner of the Utah Jazz basketball team.
New analysis reveals that Australians would have to work 66 years and five months to join the country's wealthiest 1%, while Chinese workers would need more than 101 years in the workforce to join China's 1%.
A small group of family offices have backed a new long/short resources fund from Regal Funds Management to the tune of $90 million.
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