Boganaire

Book excerpt: From blue collar to billionaire ... Hunter Valley mine electrician Nathan Tinkler borrowed big in 2005, made a fortune from several speculative coal plays, and by 2011 was a self-made billionaire. He had gambled and won, but his volatility and reluctance to pay his debts were making him enemies. He lived the high life as only a young man would, buying luxury homes, private jets, sports cars and football teams, and splurging massively to build a horseracing empire. But Tinkler’s dreams had extended beyond even his resources, and his business model worked only in a rising market. When coal prices slumped in 2012, Tinkler had no cash flow to service his massive borrowings and no allies to help him recover. Within months he was trying desperately to stave off his creditors, large and small, and fighting to save his businesses and his fortune. In this impressive new biography, leading business writer Paddy Manning tells the story of Tinkler’s meteoric rise to wealth, and captures the drama of his equally rapid downfall.