The Myer family made a wise move selling didn't they?
BRW Rich Families list 2014: 6. Myer family
Published 21 August 2014 00:14, Updated 27 August 2014 15:28
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$2.05 BILLION, LAST YEAR $2.01 BILLION, (4), INVESTMENT RETAIL, PROPERTY. MELBOURNE
The Myer family’s wealth is rooted in the efforts of Russian immigrant Sidney Myer, who came to Melbourne in 1899. Sidney Myer was involved in the start up of the Myer department store that bears his family name.
Though it retains some interest in the retail chain, the family has diversified a majority of their investment portfolio into property and resources companies.
The Myer Family Company provides private wealth management services including investment advice to families, individuals and institutions. It is also engaged in philanthropic services that provides assistance to start-up philanthropic foundations.
In May 2013 Myer chief executive Bernie Brookes copped criticism from the public for his comments at a conference that suggested the new levy to fund the National Disability Insurance Scheme would have an inconvenient effect on Myer customers. Sidney Myer’s grandson, Michael Myer was among those who criticised Brookes.
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