From Business Review Weekly's RICH LIST
Philip Cornish
Services (mobile communications)
Melbourne. 41. Married, three children. The son of a farming family, Cornish completed a veterinary science degree, however big business and the bright lights of the emerging technology industry soon enticed him. He became a successful property developer and venture capitalist. Cornish has already made and lost one fortune, earlier this decade, when the telecommunications equipment company Exicom went from stockmarket darling to failure. Between his departure from the Rich 200 in 1990 and re-entry in 1997, he helped the British-based mobile network operator Vodafone (not Vodaphone) to become the third mobile-phone service provider in Australia. The presence of Vodafone is a factor in industry pressures that have led to the phasing out of analogue in favor of digital networks. Cornish boasts: "I'm the guy who shut down the analogue phone industry in this country." He floated the telecommunications company Mobile Communications, which has a stake in Vodafone. His wealth has nearly doubled in the past year, mainly because of the rocketing share price of Mobile Communications. Shares have risen from $1 to more than $5 since the 1996 listing. Cornish is starting to shape his lifestyle to fit his growing wealth. In January he paid more than $2 million for a clifftop Cape Cod holiday home at Portsea in Victoria. He already has a mansion in Toorak.
$145 million
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