The Pratt family’s private holding company paid almost $119 million worth of dividends to its billionaire owners and executives during the past financial year, even as operational losses rose sharply to more than $200 million.
Pratt Consolidated is ultimately owned by a Pratt family trust. It collects dividends from subsidiaries and passes them on to the trust. During the 12 months to the end of June, Pratt Consolidated had almost 80 subsidiaries, including packaging and recycling giants Visy and Pratt Industries.
This article has been updated to make it clear that Pratt Consolidated is not the holding company for Thorney Investment Group.
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