WHO IS PAUL PICONE

A FAMILY man with three kids, Mr Picone owns a multimilliondollar waterfront mansion in Broadbeach Waters.

At one time he and his father, Frank Picone — affectionately known as the grandfather of the management-rights industry on the Gold Coast — owned the management rights to six of the biggest Gold Coast highrises, including the Chevron Renaissance in Surfers Paradise and Wave in Broadbeach.

Frank Picone sold the management rights of the Chevron Renaissance to Mantra in 2015, for, what was reported at the time, about $32.5 million.

Paul Picone is the director of seven companies registered to his Broadbeach Waters home. They include Aqua Vista Management Pty Ltd, PAULPIC Pty Ltd, PCJ MR Pty Ltd, Picone Leasing Pty Ltd, Sig Management Pty Ltd, Signature Broadbeach MR Pty Ltd and TAN PIC Pty Limited.

He has two brothers who all work in the real estate industry.

His waterfront mansion in Broadbeach Waters was recently valued at $2.5 million. It is a massive home, with high ceilings and a gate and fence a medieval castle would be happy with.

Looking at family members’ social media, the Picones are well travelled and live a luxurious life and genuinely appear happy in the numerous family snaps adorning their pages.

Mr Picone is in a stable condition at the Gold Coast University Hospital.