CW chiefs in AFR rich list

CHEMIST Warehouse founders Jack Gance and Mario Verrocchi have been highlighted in the annual Australian Financial Review (AFR) 2018 Rich List, with the pair coming in at 93rd and 94th in the list.

The report estimates that Gance’s fortune is worth $813 million, fractionally ahead of his colleague at $803 million, with the AFR saying their combined business makes more than $100 million in profit annually.

Key achievements cited included establishing the Le Tan, Le Specs and Australis brands, as well as the rapid growth of Chemist Warehouse which now boasts more than 300 outlets across Australia.

The pair are also part of the $725 million Home Consortium which is developing sites purchased from Woolworths following the demise of its ill-fated Masters Hardware.

Other pharmacy sector millionaires in the list include Marcus Blackmore at 137th spot with an estimated $594 million in assets - including about 25% of the listed complementary medicines manufacturer founded by his father.

Also just scraping into the list at number 200 is Radek Sali, who made about $400 million from the sale of Swisse Vitamins in 2016.

Although no longer closely involved with pharmacy, Robert Millner and his family are listed as 69th on the list with assets estimated at $1.16 billion.

Millner is chair of listed investment firm Washington H. Soul Pattinson, which had its genesis in a single Sydney pharmacy in the 1880s and now has investments in resources, food & beverage, tech, media and funds management.