Average Joe
Joe Hockey’s new gig chairing a family office managing the wealth of a Chinese billionaire property developer and high roller shows the post-politics hustle never ends.
In a week when everyone was talking about Kevin Rudd’s early departure from the US embassy in Washington — which they insist has nothing to do with Rudd’s stinging criticism of US President Donald Trump — it was one of his most colourful predecessors in that coveted role who has really been making moves.
As Capital Brief revealed yesterday, former US ambassador Joe Hockey has quietly accepted a role as chair at the Lee Family Office, an until now little-known entity that manages at least some of the considerable wealth of a Chinese billionaire property developer.
Not just any billionaire, but one of Star Entertainment’s most prolific high rollers, who has variously locked horns with the tax office, Star itself and the environmental regulator, among others.
Given his charmed run since leaving Canberra as federal treasurer — his advisory firm Bondi Partners has built an impressive portfolio of blue-chip clients, ranging from private equity titan Blackstone to US real estate operator and Domain owner CoStar — it might seem a curious appointment. Hockey told us he jumped at the chance after being approached by Lee’s 25-year-old son, who “100%” runs things.
