The Australian Financial Review’s Rich Bosses list welcomes a new top dog for 2022, after Andrew Forrest returned to day-to-day control of Fortescue.
The pandemic may be hanging around, but rising interest rates, falling house prices and sliding consumer confidence aren’t great news for Gerry Harvey, co-founder and executive chairman of retail giant Harvey Norman;, although the group’s sales and earnings have remained robust. With rates likely to more than double, pressure on discretionary spending is likely to grow.
But Harvey is sanguine; with the labour market still incredibly strong and rates still low by historical standards, he believes consumers should remain resilient for while to come.Although falling markets are a headwind for independent wealth platform operator Netwealth, the direction of travel in the sector must please Michael Heine, who started and runs the business with his son Matt.
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