MICHAEL O’KEEFFE • Net Worth $300 Million • House • Yacht • Private Jet • Riversdale Mining

Name:Michael O’Keeffe
Net Worth:$ 300 million
Source of Wealth:Riversdale Mining / Champion Iron
Residence:Townsville, Queensland
Private Jet:Please do send us a message, if you have info

Introduction: Who is Michael O’Keeffe?

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:

  • Michael O’Keeffe is a key figure in the mining industry, co-founding Riversdale Mining and now serving as Chairman of Champion Iron.
  • Riversdale Mining, active in Africa, was sold to Rio Tinto in 2011, significantly contributing to O’Keeffe’s wealth.
  • O’Keeffe maintains his active role in the mining sector, owning a substantial share in Champion Iron Limited.
  • His diversified interests extend to horse breeding, owning a horse named Moatize.
  • He also named his yacht Moatize.
  • Michael O’Keeffe’s estimated net worth stands at around US$ 300 million.

Riversdale Mining: A Brief Overview

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.

The Big Sell: Riversdale’s Acquisition by Rio Tinto

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.

O’Keeffe’s Continued Endeavours in Mining: Champion Iron

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.

O’Keeffe’s Diversified Interests: Moatize

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.

Michael O’Keeffe’s Estimated Net Worth

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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Yacht Moatize Owner

Michael Okeeffe

Watch this video!

Michael O’Keeffe House

O’Keeffe Yacht

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.