| Name: | Michael O’Keeffe |
| Net Worth: | $ 300 million |
| Source of Wealth: | Riversdale Mining / Champion Iron |
| Born: | 1952 |
| Age: | |
| Country: | Australia |
| Wife: | Unknown |
| Children: | Unknown |
| Residence: | Townsville, Queensland |
| Private Jet: | Please do send us a message, if you have info |
| Yacht: | Moatize |
Michael O’Keeffe, an influential figure in the global mining sector, was born in 1952 and co-founded Riversdale Mining, serving as its Executive Chairman. Currently, he leads as Chairman and is a prominent shareholder at Champion Iron, showcasing his continuous dedication to the mining industry.
Key Takeaways:
As an Australian-based entity, Riversdale Mining marked its presence predominantly in Africa, contributing to the coal mining industry and significantly shaping the sector’s progress in the region.
In a major business move in 2011, mining giant Rio Tinto acquired Riversdale Mining for an estimated US$ 3.4 billion or USD 14 per share. This deal played a crucial role in O’Keeffe’s personal wealth accumulation, as he held 6.8 million shares at the time of acquisition, netting him approximately USD 95 million. Moreover, a generous USD 10 million salary payment further added to his wealth.
Even after the significant sale, O’Keeffe remained committed to the mining industry. His ongoing involvement includes Riversdale Resources, which owns coal mines in the US and Canada. Moreover, he serves as Chairman and CEO of Champion Iron Limited, a company actively involved in iron ore exploration in Canada. With his ownership of approximately 45 million shares in Champion Iron Ore, valued at around $250 million, O’Keeffe continues to expand his influence and financial standing within the sector.
Apart from his profound contributions to mining, O’Keeffe also pursues interests in horse breeding. One such evidence of his passion is a horse named Moatize, showing his personal engagement with the equestrian world.
With significant stakes in mining companies, and taking into account his annual income, we estimate O’Keeffe’s net worth to be around US$ 300 million. The 2009 annual accounts of Riversdale showed O’Keeffe earning an impressive US$ 5 million per year. Further adding to his fortune was a ‘change of control event’ clause, activated upon Rio Tinto’s acquisition of Riversdale in 2011, awarding him a payment equivalent to a 2-year salary.
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We think he owns residences in Canada. But we also found this apartment building in Townsville, Queensland.
Located on the northeastern coast of Queensland, Australia, Townsville is a vibrant city known for its sunny climate, stunning natural landscapes, and rich cultural heritage. As the unofficial capital of North Queensland, it serves as a major gateway to the Great Barrier Reef, the Wet Tropics, and the Queensland outback.
The city boasts a bustling city center, home to the Strand, a long tropical beach and garden strip, attracting locals and tourists alike. The Reef HQ Aquarium, another prime attraction, hosts a living coral reef, showcasing the diversity of the Great Barrier Reef. Townsville’s cultural offerings include the Museum of Tropical Queensland, which displays region’s artifacts, and Perc Tucker Regional Gallery, exhibiting local and international artwork. With a population of over 180,000, it’s one of the fastest-growing cities in the northern region.
The city also houses James Cook University, renowned for its research programs. Townsville’s economic prosperity is driven by mining, defence, agriculture, and tourism industries. The city regularly hosts major sporting events and festivals, contributing to its lively ambiance. In essence, Townsville beautifully blends the appeal of a tropical city with the serenity of nature, making it a must-visit destination in Queensland.
He is the owner of the motor yacht Moatize, which was built at Ilona for Frank Lowy. He sold his previous yacht Paramour. She is now named DE DE.
The Moatize yacht was constructed by Pendennis in 1999.
It is powered by 2 Caterpillar engines, boasting a maximum speed of 16 knots and a cruising speed of 14 knots.
The yacht Moatize can accommodate 12 guests and features a dedicated crew of 11.
O’Keeffe actually owns a second yacht, a 24 meter (78ft) Fairline Squadron named Moatize, which he keeps in Australia.
We have not yet been able to identify his private jet. But please do send us a message if you have information about his business jet. The photos hereunder are just samples of some of the most successful private jets on the market.
(Photos by JetPhotos.com, Planespotters.net ; flightaware.com; flickr.com; picssr.com; planefinder.net ) Do you want us to remove a certain photo? Or credit a source? Please send us a message
Yacht Owners Database 2024
