Who Wants to Be a Billionaire?: The James Packer Story

Who desires to Be a Billionaire? is the tale of James Packer's determined conflict to win his father's love and admire. it is also a story of billion-dollar bets long gone disastrously unsuitable. yet specially it is the portrait of a stricken courting among a dominant father and dutiful son. during this strong sequel to his no 1 bestseller, The upward push and upward thrust of Kerry Packer, Paul Barry exhibits how James's father saved his grip at the empire at the same time he lay just about loss of life. And he unearths what drives his inheritor. As a baby James used to be derided via Kerry as too gentle, too as regards to his mom, or just "a loser." because then he has struggled to make his father proud—in the one manner the Packers know—by creating wealth. Having noticeable Kerry lose hundreds and hundreds of hundreds of thousands within the world's casinos, James selected to guess billions of bucks on paying for them as an alternative. Then got here the worldwide monetary difficulty and he nearly misplaced the lot. As markets hit all-time low in early 2009, Australia's richest guy used to be $4 billion poorer and not on best of the heap. He was once smoking back, placing on weight, and closing himself off from pals. Years past, a ways smaller losses in a single. Tel had driven him to the threshold of a anxious breakdown and made him search salvation in Scientology. Can James live on this time? Will he get better? Or was once his father right?

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So what does it suggest to have a ‘gambling problem’? The specialists say you might have one if playing disrupts your existence. In 9 out of ten instances, it'll make you depressed, under pressure and concerned. in a single in 3 situations you are going to examine suicide; in a single in six instances you are attempting to kill your self. you'll likely be despatched broke, deceive your folks and relations, and wreak havoc together with your relationships. legitimate estimates from the Australian government’s productiveness fee, which released a landmark file on challenge playing in 1999, placed the variety of challenge gamblers in Australia at 330 000, or approximately three in line with cent of the grownup inhabitants.

It really is difficult to be distinct simply because Packer used to be paying for CCR debt loose, so Oaktree’s revenue will be under the naked figures recommend, yet see David Carey and Ben Fidler, ‘Oaktree earnings monstrous in Cannery deal’, TheDeal. com, 12 December 2007. one other of CCR’s Las Vegas casinos is the hot Cannery Eastside …, info are available at www. eastsidecannery. com. The day The Meadows opened for company in its transitority domestic …, Gary Rotstein, ‘Meadows having a bet on additional perks to offset wasting streaks’, Pittsburgh Post-Gazette, thirteen June 2007.

They shared numerous girlfriends—though now not on the similar time—and had related principles approximately ladies. Gyngell’s recipe for a romantic evening out, in line with Tilley, used to be ‘going to Grandfather’s Moustache for a hamburger, then a lager on the East Leagues Club’. Or as Gyngell himself positioned it: ‘I’m a man’s guy. I hang around with the men. i admire women and dates, yet I’ve by no means been a female friend man. If the phrases womaniser and playboy are evoked, they can be correct. ’ via all debts, James may have acknowledged the exact same, other than that he sometimes obtained soppy approximately his girlfriends.

And it’s a good wager that barely a voter within the nation might have believed his rationalization. The Coalition’s backbenchers definitely didn’t. In June 1997, six of them voiced their competition to the adjustments at a joint party-room assembly. Brendan Nelson, Joe Hockey and Victorian MP Bruce Bilson all spoke. Then the leading Minister placed his palms up as though to claim, ‘Okay, that’s sufficient, it’s now not at the agenda’. yet Alston used to be now not able to surrender, and neither was once Packer. Later that month, whereas Howard used to be in London, the wealthy person invited the best Minister to his suite on the Savoy inn to remind him why Fairfax might be in Australian arms.

Listening to a few of these tales, Sam Chisholm attempted to have the reporter Graham Davis taken off the undertaking. ‘What’s he fucking doing? ’ he requested one of many program’s manufacturers. ‘No one desires to learn about that shit. i need him out without delay. i need Jana [Wendt] in there. ’ Davis survived and the filmmakers did their point top to prevent a hagiography. however, on Ros Packer’s decree that they had no selection yet to go away out a protracted and interesting interview with Ian Bailey as the medical professional had talked to the media the day Kerry died.

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