TOM Hedley is gone and construction tycoon Udo Jattke has dropped considerably, but there was good news for one prominent Cairns businessman in the Top 100 Queensland Rich List released yesterday.

George Chapman, best known as head of the Skyrail ITM group, and the Chapman family, jumped 10 places on the annual list from 87 last year to 77 this year with a wealth of $120 million.

Mr Chapman, included in the list with his son, Ken, has weathered the economic downturn better than most with interests in development, aqua-culture, beef, buses and Skyrail. His wealth in the past year has increased by $10 million.

Mr Jattke, head of construction companies Glenwood Homes and Glencorp, plummeted 25 places in the annual list from 37 last year to 62 with a wealth of $166 million. Mr Jattke’s wealth dropped by $135 million as his interests were hit by falling property values, slowing sales and high finance costs.

Not surprisingly, Mr Hedley, who was last year ranked at 45 with a wealth of $251 million, dropped from the list after the collapse of his property empire.

There was good news for the Far North’s tourism and hospitality in the list with Port Douglas ranked as the state’s No. 1 holiday destination and Palm Cove restaurant NuNu rated Queensland’s third best eatery.

Share this article