Rich, a liberal Liberal and smart as a whip. Meet Malcolm.
Nine things to know about the new Prime Minister, Malcolm Turnbull.
1. He is super rich.
In 2010, Turnbull made the BRW Rich 200 list with an estimated net worth of $186 million. He is a self-made man, accumulating his impressive stash of funds over his many careers. He was a prominent barrister, co-founded an investment bank and later became a partner at Goldman Sachs, his $1 million stake in internet service provider OzEmail turned into $60m under his leadership as chairman, and he has invested in various global funds.
Let’s just say, he’s not short of a buck.
The 60-year-old’s prosperity is regularly used against him, with opponents pointing out that he is far from the common man. Opposition Leader Bill Shorten claimed as recently as this evening that the last thing Australia needs is another “arrogant and out of touch” PM.
2. He was raised by his father.
Turnbull’s mother – a radio scriptwriter – moved to New Zealand and later the United States when he was nine, a period he describes as “hard” and “upsetting”. He was raised by his hotel broker father Bruce.
“The most unique thing about that period in my life was my father was incredibly disciplined,” Turnbull said in an interview.
“Looking back, she treated him terribly. We were left with nowhere to live, she took all the furniture and it was pretty bad. Bruce never ever said a bad word about it to me. Dad was incredible. He was absolutely determined I would have a strong relationship with my mother.”
In the 1980’s Turnbull nursed his mother as she died of cancer. He said he forgave her for abandoning him – an act she desperately wanted at the time.
In 1987, in memory of his father, he set up the Bruce Turnbull means-tested scholarship at his old school, Sydney Grammar, for students who could not afford the fees.
3. He is super smart.
Turnbull studied Arts and Law at the University of Sydney, where he reportedly paid a friend $30 a week to take notes for him when he skipped class.
But, like Tony Abbott, he won a prestigious Rhodes Scholarship and studied a Bachelor of Civil Law at England’s Oxford University, graduating with Honours.
Before entering politics, he worked as a journalist, a lawyer, a barrister, an investment banker and a venture capitalist.
4. He and his wife have spoken publicly about the trauma of miscarriages.
Turnbull and his wife, Lucy – who in 2003 became the first female Lord Mayor of Sydney – have two children, Alex and Daisy, but they have also spoken publicly about pregnancies that ended in loss.