Chris Ellison (businessman)

Christopher James Ellison MNZM (born c. 1957) is a New Zealand entrepreneur known as the founder of Australian mining services company Mineral Resources.

Chris Ellison
Bornc. 1957
New Zealand
EducationOtago Boys' High School
OccupationEntrepreneur
Known forFounder of Mineral Resources

Early life

Ellison was born in New Zealand. He grew up on a farm outside of Dunedin and attended Otago Boys' High School, leaving school in 1972 at the age of 15.[1]

Business career

Early ventures

In 1978, Ellison moved to Karratha, Western Australia, where he established rigging firm Karratha Rigging and won a contract to work on the North West Shelf Venture.[2] He served as managing director until 1982, when he sold the firm to Walter Wright Industries and subsequently became general manager of its WA/NT division. In 1986 he established Genco Ltd, which was acquired by engineering firm Monadelphous Group in 1988.[3] Ellison became a substantial shareholder in Monadelphous as a result of the acquisition, but the company collapsed in the early 1990s and left him financially ruined.[2]

Mineral Resources

In 2006, Ellison and others established Mineral Resources as a merger of three mining services firms – pipeline contractor PIHA, ore-crushing firm Crushing Services International (CSI), and Process Minerals International (PMI). Ellison was a major shareholder in each of the three.[2] Mineral Resources was floated on the Australian Stock Exchange (ASX) in 2006 at 90 cents per share. By 2022 the company's share price had risen to an all-time high of over $71 per share, with Ellison holding around 12 percent of the company.[4]

Other activities

As of 2022, Ellison owned a 10 percent stake in ASX-listed rare earths explorer VHM Limited.[5] In September 2023 he was appointed non-executive chairman of ASX-listed explorer Delta Lithium Ltd after Mineral Resources acquired a controlling stake.[6]

Personal life

In 2009, Ellison bought a riverside mansion in Mosman Park, Perth, for an Australian record price of $57.5 million (equivalent to $78.5 million in 2018). The property was bought from mining heiress Angela Bennett.[7] In 2022 he and former Mineral Resources board member Tim Roberts purchased an agricultural property near Queenstown, New Zealand, for over NZ$30 million.[8]

Ellison was appointed as New Zealand's honorary consul in Western Australia in 2013. He was appointed a Member of the New Zealand Order of Merit in the 2022 Queen's Birthday Honours, for "services to New Zealand–Australia relations".[9]

Net worth

Ellison became a notional billionaire in 2020, when shares in Mineral Resources hit a then record high.[10]

Year Australian Financial Review
Rich List		 Forbes
Australia's 50 Richest
Rank Net worth (A$) Rank Net worth (US$)
2018[11] 98 Increase $0.78 billion Increase
2019[12] 148 Decrease $0.66 billion Decrease
2020[13] 103 Increase $1.00 billion Increase
2021[14] 87 Increase $1.29 billion Increase
2022 64 Increase $1.80 billion Increase
2023[15] 55 Increase $2.25 billion Increase
Legend
Icon Description
Steady Has not changed from the previous year
Increase Has increased from the previous year
Decrease Has decreased from the previous year

References
  1. Ellison, Chris (23 September 2018). "Don't be afraid to give it a go - you have nothing to lose". Otago Boys' High School. Retrieved 6 February 2023.
  2. Klinger, Peter (12 December 2009). "Mansion buyer left school at 15". The West Australian. Retrieved 6 February 2023.
  3. Salomae Haselgrove, Salome (3 September 2020). "MinRes MD rises from Pilbara businessman to billionaire". Australian Mining. Retrieved 19 February 2023.
  4. "Mineral Resources boss Chris Ellison's fortune jumps $190m in one day on lithium spin-out 'speculation'". The West Australian. 9 September 2022. Retrieved 19 February 2023.
  5. "Chris Ellison-backed rare earths play VHM Limited locks in $256m float". Australian Financial Review. 21 November 2022. Retrieved 19 February 2023.
  6. "Mineral Resources' Chris Ellison takes control of Delta Lithium, David Flanagan to exit". The West Australian. 12 September 2023. Retrieved 12 September 2023.
  7. Sonti, Chalpat (8 December 2009). "Perth mansion sold for Australian record of $57.5m". Sydney Morning Herald. Retrieved 6 February 2023.
  8. Thompson, Brad (19 September 2022). "Albemarle interested in potential $10b lithium spin-off". Australian Financial Review. Retrieved 19 February 2023.
  9. "The Queen's Birthday and Platinum Jubilee Honours List 2022 - Citations for Members of the New Zealand Order of Merit". Department of the Prime Minister and Cabinet. Retrieved 19 February 2023.
  10. Sprague, Julie-anne (2 September 2020). "Meet Australia's newest billionaire". Australian Financial Review. Retrieved 19 February 2023.
  11. "AFR Rich List 2018". Retrieved 8 August 2018.
  12. Bailey, Michael (30 May 2019). "Australia's 200 richest people revealed". Australian Financial Review. Nine Publishing. Retrieved 31 May 2019.
  13. Bailey, Michael; Sprague, Julie-anne (30 October 2020). "The full list: Australia's wealthiest 200 revealed". Australian Financial Review. Nine Publishing. Retrieved 31 October 2020.
  14. Bailey, Michael; Sprague, Julie-anne (27 May 2021). "The 200 richest people in Australia revealed". Australian Financial Review. Retrieved 28 May 2021.
  15. Bailey, Michael; Sprague, Julie-anne (26 May 2023). "The 200 richest people in Australia revealed". Australian Financial Review. Retrieved 6 June 2023.
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