Billionaire Terry Peabody, How Rich Is Transpacific Founder Today?
Once a Billionaire, Terry Peabody’s net worth was in the millions in 2021. The 82 years old is owns the Craggy Range Winery in New Zealand and operates a $68 million Falcon 7X aircraft with its own charter license under the company’s name.
He is no more on the billionaire list. However, he was once known as Australia’s “Golden Garbo” for converting other people’s trash into a billion-dollar fortune.
Transpacific Industries, his Brisbane waste-management firm, developed rapidly after launching at $2.40 in 2004, swallowing up dozens of rivals and bringing its shares to a high of $14.40 in July 2007. His fortune was valued at $1.05 billion on the 2008 Australian list, as per Forbes.
However, the global financial crisis stopped Peabody’s debt-fueled acquisition binge, and Transpacific was placed on life support in 2009 until private equity firm Warburg Pincus intervened.
His 37 percent stake was cut in half; he narrowly made a list in 2009 and has not qualified since then. In addition, his wealth reduced to an estimated $380 million as the share price dropped to $1.40 in 2011.
Following that, he went on to establish a winery named Craggy Range.
