That invention earned the family substantial royalties, and the lesson stuck. \u201cWealth came from doing, not talking.\u201d<\/p>\n\n\n\n
Neilson\u2019s first taste of investing came from observing his mother\u2019s modest share portfolio. \u201cShe was hopeless, I thought, but because she had one, I thought you must have a portfolio,\u201d he said.<\/p>\n\n\n\n
At the age of 13, he bought his first stock and began developing the investment habits that would define his career.<\/p>\n\n\n\n
Neilson went on to earn a Bachelor of Commerce from the University of Cape Town in 1971, but he also explored sociology and English, studies that helped him understand people and communication.<\/p>\n\n\n\n
After training as an analyst in London at Cortaulds, he returned to South Africa but left again in the early 1980s, citing political instability. \u201cThere were 4 million voters and 30 million non-voters. I didn\u2019t see that as sustainable,\u201d he said.<\/p>\n\n\n\n
He moved to Australia in 1983 and took a job at Bankers Trust (BT), cutting his salary by more than two-thirds to make the move. <\/p>\n\n\n\n
\u201cTo get a job here, I dropped my salary from $100,000 to $30,000 a year. That was painful\u2026 suddenly I had no disposable income,\u201d he said. <\/p>\n\n\n\n
Despite the pay cut, he was attracted to what he called the firm\u2019s dynamic environment. By the mid-1980s, he was running BT\u2019s retail business, where he played a key role during the 1987 market crash. <\/p>\n\n\n\n
The birth of Platinum Asset Management<\/h2>\n\n\n\n![\"\"](\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2025\/07\/kerr-neilson-1024x576.jpg\")
<\/a><\/figure>\n\n\n\nWhile most investors were caught up in market optimism, Neilson and his team saw risks and positioned themselves more conservatively. A colleague developed an options strategy that helped the firm avoid major losses.<\/p>\n\n\n\n
Over the following years, Neilson continued to thrive at BT. One of his best investments came when the firm acquired a 17% stake in Westfield Holdings when the market misjudged a controversial media acquisition.\u00a0<\/p>\n\n\n\n
\u201cIt went up maybe 10 or even 15 times,\u201d he said. He also made money shorting the Japanese market before its crash in the early 1990s and investing in undervalued companies in Latin America during a period of hyperinflation.<\/p>\n\n\n\n
In 1993, Neilson met investor George Soros<\/a> at JFK Airport. Soros, impressed with Neilson\u2019s track record, gave him capital to manage. <\/p>\n\n\n\n\u201cHe thought I actually knew what I was doing,\u201d Neilson said. The following year, Neilson left BT and co-founded Platinum Asset Management with Andrew Clifford. Early growth was slow until MLC provided capital and distribution support.<\/p>\n\n\n\n
In 2007, Platinum was listed on the ASX with $26 billion under management. Neilson said the listing helped some partners cash out and funded his wife Judy\u2019s art projects, including the White Rabbit Gallery.<\/p>\n\n\n\n
The Markets never fail to fascinate<\/h2>\n\n\n\n![\"\"](\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2025\/07\/kerr-neilson2-1024x576.jpg\")
<\/a>Source: The Sydney Morning Herald<\/em><\/figcaption><\/figure>\n\n\n\nThroughout his career, Neilson avoided short-term market trends and emphasised the importance of fundamental research. His disciplined approach even earned him comparisons to Warren Buffett.\u00a0<\/p>\n\n\n\n
\u201cWe\u2019re not driven by thematics,\u201d he said. Instead, he looked at company-specific factors and valuation. He warned investors against overreacting to news and media noise. <\/p>\n\n\n\n
\u201cThe biggest problem investors have is paying too much attention to the media,\u201d he said, identifying \u2018availability bias\u2019 as a common mistake.<\/p>\n\n\n\n
In 2018, Neilson stepped down as CEO of Platinum and left the board in 2022. He still owns around 21% of the company but describes it as a small part of his portfolio. <\/p>\n\n\n\n
While no longer involved in day-to-day operations, he continues to analyse stocks and speak with investors.\u00a0Neilson\u2019s long-term investment results are notable. <\/p>\n\n\n\n
Between 1984 and 2023, he generated an annual return of 17.1%, compared to the MSCI Index\u2019s 9.4%. A $10,000 investment over that period would have grown to over $5.4 million before fees.<\/p>\n\n\n\n
<\/a><\/figure>\n\n\n\nWhile most investors were caught up in market optimism, Neilson and his team saw risks and positioned themselves more conservatively. A colleague developed an options strategy that helped the firm avoid major losses.<\/p>\n\n\n\n
Over the following years, Neilson continued to thrive at BT. One of his best investments came when the firm acquired a 17% stake in Westfield Holdings when the market misjudged a controversial media acquisition.\u00a0<\/p>\n\n\n\n
\u201cIt went up maybe 10 or even 15 times,\u201d he said. He also made money shorting the Japanese market before its crash in the early 1990s and investing in undervalued companies in Latin America during a period of hyperinflation.<\/p>\n\n\n\n
In 1993, Neilson met investor George Soros<\/a> at JFK Airport. Soros, impressed with Neilson\u2019s track record, gave him capital to manage. <\/p>\n\n\n\n \u201cHe thought I actually knew what I was doing,\u201d Neilson said. The following year, Neilson left BT and co-founded Platinum Asset Management with Andrew Clifford. Early growth was slow until MLC provided capital and distribution support.<\/p>\n\n\n\n In 2007, Platinum was listed on the ASX with $26 billion under management. Neilson said the listing helped some partners cash out and funded his wife Judy\u2019s art projects, including the White Rabbit Gallery.<\/p>\n\n\n\n Throughout his career, Neilson avoided short-term market trends and emphasised the importance of fundamental research. His disciplined approach even earned him comparisons to Warren Buffett.\u00a0<\/p>\n\n\n\n \u201cWe\u2019re not driven by thematics,\u201d he said. Instead, he looked at company-specific factors and valuation. He warned investors against overreacting to news and media noise. <\/p>\n\n\n\n \u201cThe biggest problem investors have is paying too much attention to the media,\u201d he said, identifying \u2018availability bias\u2019 as a common mistake.<\/p>\n\n\n\n In 2018, Neilson stepped down as CEO of Platinum and left the board in 2022. He still owns around 21% of the company but describes it as a small part of his portfolio. <\/p>\n\n\n\n While no longer involved in day-to-day operations, he continues to analyse stocks and speak with investors.\u00a0Neilson\u2019s long-term investment results are notable. <\/p>\n\n\n\n Between 1984 and 2023, he generated an annual return of 17.1%, compared to the MSCI Index\u2019s 9.4%. A $10,000 investment over that period would have grown to over $5.4 million before fees.<\/p>\n\n\n\nThe Markets never fail to fascinate<\/h2>\n\n\n\n
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