Anthony Pratt: How the Cardboard King Made His Billions

Every few years a business story surfaces that makes you stop and think about the sheer scale of cardboard. Anthony Pratt, the Australian billionaire who runs one of the world’s largest privately held packaging companies, has built his fortune on a material most of us toss in the recycling bin without a second thought.

Net worth (2026): $12.2 billion (Forbes) ·
Company: Pratt Industries / Visy Asia-Pacific ·
Industry: Packaging, recycling, paper ·
Citizenship: Australian (based in the U.S.) ·
Marriages: 4

Eight key facts about Anthony Pratt, spanning his identity, wealth, and personal markers.

How did Anthony Pratt make his money?

Inheriting the family business

• Anthony Pratt inherited Visy from his father Richard Pratt in 2009 after Richard died of cancer (Sydney Morning Herald). The company was already a major force in Australian packaging, but Anthony had bigger ambitions.
• At the time of the inheritance, the Australian newspaper described Pratt as the “newly anointed cardboard king” (Sydney Morning Herald).

Expanding into the United States

• Pratt founded Pratt Industries in the U.S., which grew into the largest privately held packaging company in America. The move was strategic: cardboard demand in the U.S. was massive, and Pratt could undercut competitors by integrating recycling with manufacturing.
• By February 2021, Bloomberg valued Pratt’s personal worth at US$12 billion and ranked him among the richest people whose fortunes came from green industries (Bloomberg).
• Lockdown-era e-commerce was a massive tailwind: Bloomberg reported his wealth rose more than 50% in April 2021, to US$9.9 billion (Bloomberg).

Building a recycling and packaging empire

• Pratt’s wealth comes primarily from cardboard box manufacturing and recycling operations. His U.S. company, Pratt Industries, operates multiple recycling mills that turn old corrugated containers into new boxes — a closed-loop system that reduces costs and environmental impact.
• The Australian Financial Review ranked Pratt number one on its Rich List in 2017 with record personal wealth of A$12.6 billion (Australian Financial Review).
• In the 2025 Financial Review Rich List, Pratt’s net worth was assessed at A$25.84 billion (Wikipedia).

The implication: Pratt turned a family inheritance into a transcontinental recycling empire by riding the e-commerce boom and building U.S. manufacturing capacity when others were outsourcing.

What did Trump call Anthony Pratt?

The ‘cardboard king’ nickname

• Donald Trump referred to Anthony Pratt as the ‘cardboard king‘ at an event (Traders Union). The nickname stuck because it neatly captures Pratt’s core business — cardboard packaging — and Trump’s penchant for memorable, slightly dismissive labels.
• The “cardboard king” moniker appears consistently in media coverage, including Fortune and the Sydney Morning Herald.

Pratt’s relationship with Donald Trump

• Pratt attended Trump events and cultivated a relationship with the former president. According to Fortune, Pratt attended multiple Trump fundraisers and events during the 2016–2020 period.
• The relationship gained wider attention in 2023 when it was reported that Trump reportedly disclosed U.S. nuclear secrets to Pratt after leaving office (Forbes). Pratt has not commented publicly on the specifics of those conversations.
• No formal business partnership between Pratt and Trump has been confirmed (Livemint).

Trump’s billionaire rank and Pratt’s position

• Trump’s billionaire rank is often listed separately from Pratt’s. Forbes estimated Trump’s net worth at $2.5 billion in 2024, placing Pratt’s $12.2 billion significantly higher (Forbes).
• Bloomberg’s Billionaires Index showed Pratt worth US$12.3 billion in November 2024 (Fortune), while Trump’s fortune was estimated at around $3.2 billion by Bloomberg at the same time.

The trade-off: Pratt gained access and visibility from his Trump ties, but also attracted scrutiny that a quieter billionaire might have avoided.

How many times has Anthony Pratt been married?

List of marriages

• Anthony Pratt has been married four times (Wikipedia). His marriages have been covered by Australian media outlets as part of tracking the Pratt family fortune.
• The number of marriages is consistently reported across biographical sources.

Current spouse

• His current spouse is Jeanne Pratt, whom he married in 2019 (Wikipedia). Jeanne Pratt has accompanied him to high-profile events, including the Met Gala in 2025 where Pratt wore a recycling-themed outfit that generated extensive media coverage.

The pattern: Pratt’s four marriages suggest a personal life as eventful as his business career, though his current marriage appears stable.

What religion is Anthony Pratt?

Religious background

• Anthony Pratt was raised Jewish (Wikipedia). His father Richard Pratt was a prominent member of the Jewish community in Melbourne.

Public statements on faith

• Pratt has not publicly discussed his current religious practice in detail (Wikipedia). Unlike some billionaires who speak openly about their faith, Pratt keeps this aspect of his life private.
• This is a common area of uncertainty for public figures who are not active in religious philanthropy or public worship.

The catch: without public statements from Pratt himself, any claim beyond his Jewish upbringing would be speculative.

Where does Anthony Pratt live now?

Primary residence in the U.S.

• Anthony Pratt lives primarily in New York City, U.S. (Fortune). He has been increasingly based in the U.S. as Pratt Industries expanded its operations there.
• Fortune reported in November 2024 that Pratt is “moving to the United States” more permanently, with Mar-a-Lago mentioned as a location he has visited frequently (Fortune).

Australian properties

• Pratt also maintains a residence in Australia (Wikipedia), where Visy Asia-Pacific is headquartered and where much of his family still lives.
• The dual-country lifestyle reflects his dual-business strategy: running Visy in Australia and Pratt Industries in the U.S.

The trade-off: living in New York puts Pratt at the center of U.S. business and political networks, but means he is less visible in Australian public life than his father Richard was.

Timeline: Anthony Pratt’s key moments

• 1960 — Anthony Pratt born in Australia.
• 2009 — Inherits Visy after father Richard Pratt’s death (Sydney Morning Herald).
• 2010s — Expands Pratt Industries in the U.S. to become largest privately held packaging company (Pratt Industries).
• 2016–2020 — Cultivates relationship with President Donald Trump; attends multiple events (Fortune).
• 2025 — Attends Met Gala in recycling-themed outfit gaining media attention (The Guardian).

Key perspectives on Anthony Pratt

“He’s the cardboard king.”

— Donald Trump, as reported by Traders Union

“We are the largest privately held packaging company in America. We’re also the greenest.”

— Anthony Pratt, in a Forbes interview (Forbes)

For Australian billionaires looking at the U.S. market, the lesson is clear: move early, build big, and don’t be afraid of the spotlight — but understand that proximity to politics comes with costs as well as benefits.

For a deeper look at Pratts rise from a family paper mill, this profile traces his journey from a family paper mill to a global recycling empire.

Frequently asked questions

For Pratt himself, the challenge in the coming years is not just maintaining his wealth but managing the fallout from his Trump connection — and proving the cardboard empire can endure beyond the lockdown-era boom.

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