AUS
NZ
UK
CA
USA
IND
Image Source: Shutterstock
Summary
- Peter Greensill, who made his fortune out of a watermelon farm, is the seventh richest young person under the age of 40 in Australia.
- According to the AFR’s Young Rich List in 2020, Mr Greensill’s net worth is estimated at A$788 million.
- Greensill Capital and Greensill Farming Group are the sources of Mr Greensill’s income. His brothers, Andrew and Lex also contribute to the family business empire.
Agriculture and extreme wealth are rarely associated with each other. Waking up early in the morning, spending long hours in the sun, and working hard at farms are good habits. But if you are a farmer and have all these traits, there is no guarantee to make a good living. However, an Australian showed that farming could be a huge profitable business.
Peter Greensill, a rancher from Bundaberg, Queensland, started his career as a watermelon farmer. His life turned around in 2011 when Mr Greensill decided to exchange equity in his farm for a portion of his brother Lex’s UK-based company, Greensill Capital.
Greensill Capital offers financial aid to small and middle-sized businesses. The company’s net worth at present is in billions.
Mr Greensill could not even imagine his business move of exchanging equity would lead him to become the seventh richest man on AFR’s Young Rich list in Australia. His net worth is estimated to be A$788 million. The AFR list represents the richest Australians who are below 40 years of age. Greensill’s case is special because he has the highest debuting fortune in the history of the list.
ALSO READ: Financial Review Young Rich List: Zoë Foster Blake makes her debut
How did Mr Greensill enter the Young Rich list?
When Mr Greensill traded part of his watermelon farm to his brother, he got a 17 per cent stake in Greensill Capital.
Though the stake was just 17%, it was enough to propel Mr Greensill to a fortune of A$412 million in 2018.
Image Source: Shutterstock
Peter and Lex have a third brother Andrew, who also shares a stake in the family business. The combined net worth of three brothers was estimated at A$1.13 billion in 2018.
What much does he make from the farming business?
Greensill Farming Group makes half of the brothers’ fortune. The firm produces sweet potatoes, sugarcane, and watermelons.
From just a small watermelon business, Greensill Farming Group became a 2,000-hectare empire, which produces five per cent of Australia’s total watermelons.
Mr Greensill’s grandfather Roy launched the farm business in 1947.
About Greensill Capital
Greensill Capital would not have reached where it is today if it were not for Roy’s hard work and vision.
Both Peter and Lex have transformed Greensill Capital to a multibillion-dollar company, offering innovative solutions to businesses.
The company has international offices in every continent. Its aim is to tap real potential, no matter which part of Earth it can be found.
Greensill does not discriminate between the businesses of different sizes, as he tries to help everyone who needs a slight push to achieve his dreams.
By collaborating with the Inter-American Development Bank, Greensill Capital has successfully brought advanced technology to the remote areas of Latin America. Smart gadgets and modern technology are crucial factors to connect different parts of the world. It was an uphill task in the remote areas of Latin America, but Greensill Capital defied all odds to make it possible.
Apart from being involved in finance and fintech sectors, Greensill Capital also provides healthcare support to Britons. As the government was taking some time to process payments to frontline healthcare, Greensill Capital’s £1 billion Supply Chain Finance programme ensured the timely payments.
