Australian self-made coal baron Nathan Tinkler has gone from being the nation’s youngest billionaire to officially bankrupt in just five years, capping a dramatic fall from grace after he failed to appeal a court order.
Tinkler, a larger-than-life character who spent millions on sporting clubs and horse racing, making enemies along the way, apologised Thursday to creditors and his family, while telling a newspaper that “I can hear the champagne corks popping in the background”.
The 40-year-old started out in the mining industry as an electrician before building up his wealth on a series of canny coal transactions.
He made it to the top of Australia’s young rich list with a personal fortune of $1.13 billion in 2011, equivalent of around the…
