• Anthony Pratt (pictured earlier this year at the Global Food Forum in Sydney), will play host to US President Trump and Australian PM Scott Morrison in Ohio this week.
    Anthony Pratt (pictured earlier this year at the Global Food Forum in Sydney), will play host to US President Trump and Australian PM Scott Morrison in Ohio this week.
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Visy boss Anthony Pratt is Australia's richest person for the third consecutive year, beating mining magnate Gina Rinehart on the Australian Financial Review's roundup of the country's 200 wealthiest people.

Pratt's $15.57 billion worth of wealth is a substantial improvement of last year's $12.90 billion, and comes, says AFR, off the back of Donald Trump's corporate tax cuts and instant investment write-offs, as well as stronger price-to-earnings multiples of comparable companies such as Amcor and Sonoco.

Pratt told AFR that he intends to keep Visy, and American arm Pratt Industries, as family-owned businesses. "There’s a culture in my family of work. Nobody actually told me I was going to go into the business, but it’s just a foreign concept not to," he said.

The Visy executive chairman has topped the Rich List since 2017, and this year came in ahead of Australia's richest woman Gina Rinehart, who is worth $13.81 billion. He called earlier this year for a "Minister for Food" in a speech at the Global Food Forum in Sydney.

Food & Drink Business

Market connectivity through ecommerce is more urgent than ever before, Food Innovation Australia Limited (FIAL) says. It has refreshed its Australian Food Catalogue (AFC) to boost its trade credentials.

Thomas Foods International has acquired a 50 per cent stake in meat processing company Frew International. In an unrelated sale, the company has agreed to sell its fresh potato business to Mitolo Family Farms.

Foodpro will be held from 25-28 July 2021 at the Sydney Showground, Sydney Olympic Park, a shift from the Melbourne location planned for this year.