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An ex-prime minister, his family office, and a billion-dollar-plus portfolio

Ex-presidents and prime ministers often get rich when they leave office through lucrative book deals and speaking engagements. But one, in particular, is in the running to make serious money through his family office’s wise investments that would make the likes of the wealth made by Barack Obama and Tony Blair, after leaving office, look paltry.  

Malcolm Turnbull, the former prime minister of Australia, and his investment group, Turnbull Family Office, have been busily investing in some savvy tech companies, a couple of which have valuations close or more than a billion dollars. 

These include the work/safety culture platform SafetyCulture. Based in Australia, the group was valued at more than $1 billion after Turnbull invested in a Series C round in April 2020. SafetyCulture has since received further investments, valuing the Queensland-based company at more than $2 billion. Turnbull didn’t participate in the latest round, but his family office is believed to still own at stake in the business. 

SafetyCulture is also backed by Skip Capital, the investment office of Scott Farquhar. Together with his business partner Michael Cannon-Brookes, Farquhar set up the hugely successful tech company Atlassian, which has made them the two wealthiest Australians.

Observers say SafetyCulture is close to an IPO. If so, the Turnbull Family Office – and Skip Capital – are in line for a big payout. 

Turnbull’s family office has also invested alongside some big institutional investors in a late-stage round last July for New York City-based Mark43, a public safety platform. Goldman Sachs, where Turnbull worked as a senior partner before going into politics, and Tiger Global Management joined the Turnbull Family Office in the Series E round.  

That round pushed Mark43’s value at close to unicorn levels. 

The Turnbull Family Office has also invested in several other tech businesses that could also make the former prime minister some serious money. These include AI group SparkCognition, and most recently, cybersecurity group Kasada. 

Expect one of these deals to realise serious money in the next year or two, netting Malcolm Turnbull and his family billion dollar-like wealth. He might even join the Forbes billionaire list. 

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