Richard Pratt (businessman)

Richard Pratt (1934-2009) was an Australian businessman and philanthropist, best known as the chairman of Visy Industries, a privately owned paper, packaging and recycling company.

Early Life and Education:

Born in Poland as Ryszard Przecicki, he immigrated to Australia with his parents in 1938 to escape rising antisemitism in Europe. The family anglicised their name to Pratt. He was educated at Melbourne High School and the University of Melbourne, where he studied chemical engineering.

Business Career:

Pratt inherited Visy Industries from his father, Leon Pratt, in 1969. He transformed it from a small family business into a multinational corporation. Under his leadership, Visy expanded into the United States and Asia, becoming a major player in the global packaging industry. Pratt was known for his aggressive business strategies and his commitment to innovation and sustainability, particularly in recycling.

Philanthropy:

Pratt was a major philanthropist, donating extensively to the arts, medical research, and various charitable organizations. He and his family established the Pratt Foundation, which supports a wide range of causes in Australia and internationally. His philanthropic contributions were particularly notable in areas such as indigenous health, education, and the arts.

Controversies:

Pratt's business career was not without controversy. In 2007, Visy Industries was found guilty of price-fixing by the Australian Competition and Consumer Commission (ACCC) and was fined a substantial amount. Pratt admitted to engaging in cartel conduct.

Death and Legacy:

Richard Pratt died in April 2009 at the age of 74. He left behind a significant legacy as a successful businessman and philanthropist. Visy Industries remains a major Australian company, and the Pratt Foundation continues to support a variety of charitable causes. His entrepreneurial spirit and commitment to giving back to the community have been widely recognized.