He infamously fought a war with WA across its difficult borders during COVID, but Clive Palmer is sitting well thanks to iron ore royalties pouring in from the state.
On Wednesday, it was revealed that the billionaire warrior had earned $800 million in royalties from the CITIC project in the Pilbara during the year to late 2022.
Palmer is now well established as one of Australia’s richest men with a fortune close to $24 billion and is said to own more than 200 luxury cars, including rare Rolls-Royces, Ferraris and Bugattis.
This wealth allowed him to fund his own political party, as well as a series of legal battles against WA, Prime Minister Mark McGowan, and others.
And it is this patch of land in the Pilbara that helps him unleash his power.
says Grafa’s Colin Ebsworth on the latest episode of The West Australian’s new financial show Trading Up.
Also on Trading Up, why the CBA crystal ball is predicting a big drop in iron ore prices, fueling the ASX Australian energy stock and how the maker of the world’s toughest jeans is branching out into sportswear.
Watch the latest episode in the video player above
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