Business
Rich Lister claims victory in stoush with PE firms – The Australian Financial Review
ETF pioneer and philanthropist Graham Tuckwell has been ordered to buy out investors after a court found he trapped and lowballed minority shareholders.
Mr Tuckwell argued that a discount should be applied to reflect a lack of control and offered to buy out his investors at 56 per cent of net asset value. Mr Tuckwell has pledged to donate the difference between what investors asked for and what they received, or about $US35 million ($45 million), to charity.
Every dollar that I have saved by doing this will be donated to the Graham and Louise Tuckwell Foundation, where it will do a lot more good than it would in the hands of private equity firms,…
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