Close Menu
Invest Intellect
    Facebook X (Twitter) Instagram
    Invest Intellect
    Facebook X (Twitter) Instagram Pinterest
    • Home
    • Commodities
    • Cryptocurrency
    • Fintech
    • Investments
    • Precious Metal
    • Property
    • Stock Market
    Invest Intellect
    Home»Investments»Peter Dutton’s $30M Property Portfolio & That Timely Share Purchase, Explained
    Investments

    Peter Dutton’s $30M Property Portfolio & That Timely Share Purchase, Explained

    February 26, 20255 Mins Read


    Peter Dutton’s investments have been making headlines recently, with the opposition leader defending his shares and property dealings against heightened scrutiny. Much of the recent questioning has stemmed from his investments in Australia’s big banks — and whether he used insider information to make those investments. 

    As Labor attempts to paint the leader’s significant investments as ‘out of touch’ with ordinary Australians, Dutton insists this is a case of trying to kick up dirt ahead of the election. 

    There’s a lot of unpack here, so you best get seated.

    Why the questions?

    As reported by news.com.au on Tuesday, Dutton’s investment history was thrust in the spotlight after an analysis of his declarations found he notified parliament of a “share-buying” blitz in late 2008 and early 2009, buying shares in NAB, ANZ, and Commonwealth Bank. 

    The catch? The notification came one day before the then-Labor government announced a $4 billion stimulus package involving the banks in a bid to stimulate the economy following the Global Financial Crisis. It also resulted in soaring share prices.

    Dutton’s investments have garnered significant media attention in recent days. (Source: Martin Ollman/Getty Images)

    The news quickly spurred discussion this week about whether the Opposition leader had access to confidential information which could have influenced his decision before the announcement and whether he might have made a profitable investment based on insider knowledge. 

    Dutton had not purchased shares in the previous three-year parliamentary term, per the publication.  

    Meanwhile, a Sydney Morning Herald report also detailed the opposition leader’s $30 million of property transactions over the past three decades. According to the report, Dutton has made property sales of $18.8 million in transactions “that he has frequently declared to parliament late, partially, or not at all”, including two instances where it said he failed to declare the property completely. 

    What has Labor said?

    Prime Minister Anthony Albanese said it was a matter for the opposition leader to provide an explanation and Industrial Relations Minister Murray Watt further added there were “very serious questions” to answer, including whether he had access to sensitive information. 

    “This is a guy who had no real history of trading in bank shares, but he entered into an absolute frenzy of buying and selling bank shares over a very small period of time that just happened to coincide with the time that the Rudd government was planning and delivering multibillion-dollar bank bailouts,” he said, per the Australian Financial Review. 

    “In fact, Peter Dutton, the records show, bought a substantial number of shares in three of Australia’s leading four banks at a day when their share value was at a record low.”

    PM Albanese indicated this is a matter for Dutton to explain. (Source: Martin Ollman/Getty Images)

    Labor MP for Parramatta Andrew Charlton — who was serving as chief economic adviser to then PM Kevin Rudd during this time —  told ABC’s 7.30 his jaw “fell to the floor” upon learning of Dutton’s share trades.

    “I was there at that time, and I saw the Australian economy on fire. I saw the Australian share market fall by more than 60 per cent, destroying wealth for millions of Australians,” he said on Wednesday.

    But there was one political leader who “was focused on his own financial interest”, Charlton said, referencing a statement made by Dutton in response to the trades.

    How has Dutton addressed this?

    Dutton has maintained he properly made the required disclosures about his investments to the parliament and said he’s unapologetic about the fact he’s been “successful in business”.

    As reported by ABC News on Wednesday, he blamed “dirt sheets” from the PM’s office for the recent media reports. 

    “I’ve only ever acted with integrity,” Dutton told reporters.

    “They’ve trawled through every transaction of my entire adult life and they’ve come up with the fact that we’ve bought and sold properties. 

    “I’ve been proud of what my family and I have been able to achieve and I think the Australian people want somebody who knows how to make money, who knows how to manage the economy. I’ve demonstrated that as assistant treasurer.”

    Dutton has blamed “dirt sheets” for the media scrutiny. (Source: Tracey Nearmy/Getty Images)

    Responding to claims he failed to declare two properties under federal disclosures rules — which requires disclosures within 28 days of any changes — Dutton conceded some paperwork had not been submitted on time although “there’s nothing consequential in that”.

    Regarding the bank shares, he emphasised there’s “no information I’ve been privy to that influenced any decision about any share that I’ve bought”.

    Dutton attributed the purchases to “astute” investing, explaining many would have seen value in picking up the shares at their then-low prices. He also said he does not have any “hidden assets” in a family trust account, per the Guardian.

    What does this mean for the election?

    An election has yet to be called — although it cannot be later than May 17 — but it’s already looking pretty heated as the race is underway.

    Questions about politicians’ financial holdings are nothing new, given PM Albanese was also heavily criticised last year for his decision to buy a $4 million beach home at Copacabana, which was painted as his lux “retirement home”.

    It’ll be interesting to see how all this lands with voters, particularly when there’s some pretty targeted efforts to manage perceptions amid a cost-of-living and housing crisis.

    Lead image: Getty Images / iStock





    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

    Related Posts

    Selon un récent dépôt auprès de la SEC, Sei Investments Insider a vendu des actions pour une valeur de 12 006 823 dollars.

    Investments

    Un actionnaire de Skechers poursuit le fabricant de chaussures pour obtenir des détails sur le rachat de 9,4 milliards de dollars par 3G

    Investments

    Primorus Investments plc publie ses résultats pour l’exercice clos le 31 décembre 2024

    Investments

    Aberdeen Investments : Pruksa Iamthongthong nommée head of equities Asie-Pacifique

    Investments

    CPP Investments se retire d’Informatica par le biais d’une transaction avec Salesforce

    Investments

    Aberdeen Investments : nomination

    Investments
    Leave A Reply Cancel Reply

    Top Picks
    Investments

    Collateral quality a challenge for Vietnam’s corporate bond market: broker

    Cryptocurrency

    Data is the currency of the digital age – The Irish Times

    Commodities

    Stock and Share Market News, Economy and Finance News, Sensex, Nifty, Global Market, NSE, BSE Live IPO News

    Editors Picks

    Ebook | The global metals and mining outlook: a cross-commodity view

    July 16, 2024

    3 Top Dividend Stocks to Maximize Your Retirement Income

    April 14, 2025

    Agricultural cooperatives hike prepayments to rice farmers for autumn harvest

    May 7, 2025

    Is This Correction Your Chance? Top 5 Canadian Dividend Stocks on Sale

    March 21, 2025
    What's Hot

    Trump’s Crypto Summit: A New Era for Digital Currency

    March 7, 2025

    La Libre Antenne de Max du 5 mai

    May 5, 2025

    Visa and Wirex Partner on Digital Currency Use in Europe, UK

    July 15, 2024
    Our Picks

    Property Perfect affiche une perte nette trimestrielle de 345,6 millions de bahts

    May 15, 2025

    UK Investors alerted to 4.5% yield and 10% capital ap…

    July 22, 2024

    Gold/Silver: Crude oil & precious metals drop overnight! The week ahead – Metals Minute w/ Phil Streible

    October 28, 2024
    Weekly Top

    Dividend & Stock Split: TCS, Tata Motors, Coforge Among Shares To Trade Ex-Date This Week

    May 31, 2025

    De Nantes à Clisson, les micros festivals de métal dans l’ombre du Hellfest

    May 31, 2025

    How To Put $100 In Your Retirement Fund Each Month With Cintas Stock

    May 31, 2025
    Editor's Pick

    Kip Real Estate Investment Trust annonce un accord de vente et d’achat avec Senz Yang Realty

    April 8, 2025

    Brittney Griner’s Olympic gold will always hold a ‘special’ place

    August 13, 2024

    I Don’t Control Bitcoin (WBTC) By U.Today

    August 11, 2024
    © 2025 Invest Intellect
    • Contact us
    • Privacy Policy
    • Terms and Conditions

    Type above and press Enter to search. Press Esc to cancel.