The Pratt Family

The Pratt family’s substantial net worth is largely attributed to the success of Visy Industries, a global packaging company. Headed by Richard Pratt in the 1940s, Visy initially focused on recycling waste paper into packaging, which expanded into a global business empire under his leadership. Richard Pratt was born to Polish Jews who fled from Europe to Australia during World War II.

Today, Richard and Jeanne Pratt’s son Anthony Pratt oversees Visy, which continues to grow through a mix of acquisitions. The Pratt daughters, Fiona Geminder and Heloise Pratt (formerly Heloise Waislitz), also own large stakes in the company. Anthony Pratt led the expansion of Visy into the United States, where the company has a significant presence. This U.S. expansion has added considerable value to the family’s assets.

The family has faced multiple controversies. Visy Industries was found to have been part of a cartel arrangement with competitor Amcor to fix prices in the packaging industry between 2000-2005. The anti-competitive behaviour led to one of Australia’s largest corporate fines at the time, with Visy and its then-chairman Richard Pratt ordered to pay $36 million in penalties.

Anthony Pratt has cultivated a complex and close relationship with U.S. President Donald Trump. Pratt has been a frequent guest at Mar-a-Lago, Trump’s Florida resort, since joining the private club in 2017. Trump is reported to have discussed U.S. nuclear submarine capabilities with the billionaire, which raised questions about whether Pratt had then shared those details with Australian government officials and former prime ministers. Concerns about potential security breaches have made Pratt a significant figure in investigations led by U.S. officials into Trump’s handling of classified information.

In addition to “buying access” to Trump, Anthony Pratt’s notable position within the U.S. President’s inner circle has greatly benefited his business interests. Pratt has also made significant donations to Australian political parties.

All family members actively support Israel and have a long-standing association with the Zionist organisation, the United Israel Appeal. The Pratt Foundation has reportedly funded around 350 projects in Israel. In 2006, Richard and Jeanne Pratt donated significant sums to fund the construction of a memorial park in Israel for Australian soldiers who fought against the Ottoman Turks in 1917 in pre-state Israel, after which point Palestine fell to British Military Occupation. At the opening of the park, Richard Pratt stated, “I wanted to demonstrate my pride as an Australian, a Jew and a friend to Israel”, and Jeanne Pratt, now Richard’s widow, commented about his “belief that the State of Israel should exist”.

Following Richard’s death, former President of Israel, Shimon Peres, stated that Mr Pratt was “known for his outstanding contribution to the State of Israel”, while Israeli Welfare and Social Services Minister Isaac Herzog praised him for being “passionately devoted” to it.

The Pratt Foundation is one of Australia’s largest philanthropic organisations and donates to education, healthcare and the arts. Jeanne Pratt has been a benefactor of the arts particularly in Victoria, having been a board member of Arts Victoria for over 25 years. In 2016 Jeanne donated $1 million to Monash University’s Centre for Theatre and Performance, and in 2018 it was reported that the Melbourne Symphony Orchestra awarded her a Life Membership. Anthony Pratt was invited by the Melbourne Symphony Orchestra to present a program “celebrating mateship between Australia and the United States” as part of the orchestra’s 2019 tour to the U.S., in which he was featured conducting the orchestra. The Pratt Foundation has supported the Australian Chamber Orchestra, Opera Australia, and the Melbourne Symphony Orchestra.