Tech billionaire Mike Cannon-Brookes has bought a significant chunk of the South Sydney Rabbitohs but exactly how much money he paid for it remains unknown.
The founder of Atlassian, who is worth an estimated $26billion, now owns a 25 per cent share in the famous club, but he has kept the price tag a secret.
One source believes the figure is close to the $20 million mark.
According to the , fellow high profile part owners — media mogul James Packer and Hollywood actor Russell Crowe — were set to receive $10 million each following the recent injection from Cannon-Brookes.
Exactly how much money tech billionaire Mike Cannon-Brookes has poured into the South Sydney Rabbitohs is the question many people want to know
When quizzed on the subject, fellow part-owner Hollywood actor Russell Crowe danced around the question
The purchase comes after both men reduced their 37.5 per cent shareholding to 25 per cent to enable Cannon-Brookes to also enjoy a quarter share of the club.
Members of the Rabbitohs own the remaining quarter.
Crowe has remained tight-lipped, stating he was ‘not at liberty to discuss details’.
Eventually, ASIC documents will pinpoint exactly how much Cannon-Brookes handed over to Blackcourt League Investments, the company who owns 75 per cent of the Rabbitohs, for his share.
On November 15, it became public knowledge Cannon-Brookes had bought into Russell Crowe’s footy team after going on a lavish $70million rural Australian property spending spree.
The string of new investments take the philanthropist’s estimated wealth to $26billion, comfortably exceeding Packer’s net worth of $5billion.
Billionaire Atlassian founder Mike Cannon-Brookes has bought into the South Sydney Rabbitohs, becoming a 25 per cent owner alongside Russell Crowe and James Packer
Cannon-Brookes said there was renewed pressure at leading South Sydney and wanted to help to continue its proud history and important community work
Crowe says it is a ‘very strong move’ for the Rabbitohs and has pushed them into the upper echelon of sporting teams in the country with Cannon-Brookes coming onboard
‘The South Sydney Rabbitohs are special.Not only are we the oldest, loudest and proudest, we are an organisation people truly, deeply care about,’ he said.
‘I’m looking forward to partnering with Russell and James and bringing what I can to the table to help the club grow to even greater heights.’
Cannon-Brookes, who in 2020 became the first Australian to own an American sports team after buying a minority stake in NBA side the Utah Jazz, said there was renewed pressure at leading South Sydney.
‘It’s one thing to have a really great legacy culture — ‘the oldest, proudest, loudest’ is written pretty deeply in people’s psyches — but it also comes with a sense of that culture of continuing to improve,’ he said.
Souths were infamously booted out of the competition in 1999 after a series of financial problems, before a campaign led by Crowe began to see the game’s oldest and most successful club re-admitted.
They were re-instated in the NRL back in 2002 and 12 years later won the premiership in emotional scenes for c9 detox forever living the ‘pride of the league.’
Crowe revealed he’d been working to get Cannon-Brookes involved for some time and regularly had him appearing in public wearing Rabbitohs merchandise.
‘I’m sure it hasn’t gone unnoticed to South Sydney members and supporters that Mike wears a white Rabbitohs hat for special occasions,’ Crowe told News Corp.
‘This is a very strong move for the club.It connects us to the front edge of emerging technologies and business, and underlines the importance of our efforts in the community.
‘Mike understands the resonance of sport in Australia, and James and I welcome his input going forward in keeping South Sydney ahead of the curve, and a game leading organisation, on and off the field.’
Packer, who has amassed wealth across media and casinos, said he was excited Cannon-Brookes was coming aboard to help with the team’s community program.
‘I am really pleased that Mike is joining us, because I know how committed he is to the community, he will be a big asset and supporter of Souths Cares and all the important work they do,’ he said.
South Sydney won the NRL premiership in 2014 with Crowe emotional on the field with the players following the game
The tech boss’s latest buy is the $15.25million, 120 hectare Think Big Stud (pictured above and below) which was home to the 2008 Melbourne Cup and Caulfield Cup winner Viewed
It’s the latest acquisition in a massive $70million buy-up of property and land in the Southern Highlands, 120km south of Sydney, including Rosehill Farm, seen here above and below
Earlier in November, Cannon-Brookes bought out a Cup-winning racehorse stud as part of his ambitious personal mission to make Australia greener.
The purchase of the $15.25million, 120-hectare Think Big Stud is the latest acquisition in a massive $70million buy-up of property and land in the Southern Highlands, 120km south of Sydney.
He is planning to transform the properties he buys into a green paradise using ‘regenerative agriculture’ — with part of his plan to encourage Australians to eat crickets and other insects.
The 41-year-old has already pledged $1.5billion to climate initiatives.
‘[I] have heavy investments in controlled environment agriculture because it turns electricity into farming,’ he tweeted.
’99 per cent less emissions from transport, 95 per cent less water and 95 per cent less land use.
‘Renewables make it continually better.’
He has also warned the world needs to change its eating habits by adding insects to its daily diet if the planet is to feed a global population of eight billion.
‘Insects are a huge part of a sustainable future,’ he said.
‘I’m a big fan of cricket flour and insect eating in general.The logic totally stacks up — Low planet footprint, high protein, sustainable etc.
‘Always looking for interesting opportunities in that space!’
The tech boss’s latest buy, the Think Big Stud, was home to the 2008 Melbourne Cup and Caulfield Cup winner Viewed, as well as other Group One champions.
Billionaire Atlassian boss Mike Cannon-Brookes, pictured here with wife Annie, has bought out a Melbourne Cup-winning racehorse stud as part of his personal mission to save the planet
The lavish Rosehill Farm owned by tech billionaire Mike Cannon-Brookes in NSW
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