Wednesday , May 25 2022

How to lose an empire of one billion dollars



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Nathan Tinkler was the man who had a world in front of his feet, only to crash everything.

Opening for Leigh Sales ABC about paying bills and feeding his family from day to day, a former charcoal tycoon and owner of a dual sports club claimed that he was just average Joe who had a spoiled miracle of happiness.

The electrician of NSW, Hunter Vallei, did not have a corporate experience to make a fortune on the cube.

After a meteoric rise, he became the youngest billionaire in Australia after investing $ 1 million in $ 442 million after selling his stake in Macarthur Coal, just 32 years old.

"I probably would have liked that after that moment I sailed into the sunset, he said 7.30.

"Can I rewind? Until that moment? I really would like to have it. I do not know. I was pretty – loved by the coal sector.

To watch the whole interview at 7.30, HEAD TO IVIEV

"I had a win and I wanted to feel like that money does not burn a hole in my pocket. Personally, I probably was not so happy.

"I worked hard for the previous, many years and put a lot of things on the line, and then when I arrived there, only media attention and everything, I created this, I suppose, this

a huge expectation about me, what will I do? "

But, shortly after a massive fall, he invested money in a series of investments, including horse racing and two football clubs.

When the price of coal price sank, Tinkler's very indebted empire began to look grimly. He could not pay the debts of his sports clubs, including salaries of employees and players.

In 2016, bankruptcy was declared.

He said 7.30 he had to pay a million dollars for his bankruptcy to be canceled – money given by his father.

Now says it is worth "zero" – but still lives in "nice home" in Coffs Harbor worth more than $ 11 million "basically in the possession of a secured loan."

What now works to pay bills now?

"I buy and sell a few shares and such things, and that's real," he told 7.30.

"I do a little consulting and such things. It feeds me. Do not talk about millions of dollars a year or any of it. It's the money to transfer your family. "

Now she is considering the next stage of her career, but admits that this will not be an easy way to the top.

"It's back at the zero point, where you started," he said. "There were some dark days, there is no doubt, in the end, you have to rinse, you can not fall into the hole forever. You have children to feed, the family to feed, you have to return.

In numerous media reports since the moment a large number of people were hit, he is accused of not paying the contractors and creditors.

But he said 7.30 he wants to set a record.

"At the end of the day, I did not snatch anybody," he said. "I lost my money.

"Misconceptions and so on are in the media and are simply incredible. You can pick up 1000 articles and you will not find any of those people who know Nathan Tinkler." She became a massive snowball and too big to stop.

"People will always be guided by the media and they will believe it. I'm just an average guy who had a crack. You know, the Australians these days, when you fail, bring a lot of shame on it and everyone wants to kick you all. I was well and truly thrown out.

"I'm happy to discuss this with every Australian who was more shocked. Because I was thrown out, I lost my money and there are many people there with highly paid jobs in the mining industry due to Nathan Tinkler.

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