Who is Michael O’Keeffe?
O’Keeffe is co-founder and former Executive Chairman of Riversdale Mining. He was born in 1952. He is now Chairman and shareholder at Champion Iron.
Riversdale is an Australian (coal) mining company active in Africa.
In 2011 Rio Tinto acquired Riversdale Mining for approx. US$ 3.4 billion or USD 14 per share.
O’Keeffe held 6.8 million shares, so the transaction netted him USD 95 million and a USD 10 million salary payment.
O’Keeffe is still active in the mining industry, through Riversdale Resources which owns coal mines in the US and Canada. He is also Chairman and CEO of Champion Iron Limited, active in iron ore exploration in Canada.
He owns 45 million shares Champion Iron Ore, which are worth around $250 million.
He is active in horse breading. One of his horses was named Moatize.
Michael O’Keeffe Net Worth
We estimate his net worth at US$ 300 million. According to the 2009 annual accounts of Riversdale, O’Keeffe earned around US$ 5 million a year.
And according to the documents he would receive an amount equal of 2-years salary in a ‘change of control event’. Which happened in 2011 when Rio Tinto purchased Riverdale.