The extravagant $5 million 85th birthday bash for Lindsay Fox reportedly involves a 12-day cruise from New York to Montreal. Throw in travel time and the 450 guests are expected to be out of the country for more than two weeks. If you plan to attend, just make sure your bosses give the sign-off.
The billionaire trucker has a long history of extravagant birthday parties — whether it was the $8 million three-day celebration at the Sydney Opera House for his 70th or the celebration of 80 years since his conception on what was dubbed a Love Boat cruise of the Mediterranean with the likes of Joe Hockey, Greg Norman and Jeff Kennett.
However, it was a cruise down the Nile celebrating his 55th birthday in 1992 which wasn’t so good for the career of then ANZ Bank CEO Will Bailey, whose tenure was suddenly cut short after some of the directors read in the media about his attendance.
Complaints were raised with then ANZ chair Milton Bridgland, and when he wouldn’t take action the board installed John Gough as the new chair who then quickly moved against Bailey. Bailey died in 2020.
ANZ almost went broke during Paul Keating’s recession we had to have, and after Bailey’s forced early departure new CEO Don Mercer revealed a shock $600 million loss.
Extravagant travel and partying is never a good look for public company CEOs or politicians, so Melbourne Lord Mayor Sally Capp may want to rethink her decision to take personal leave and attend this latest Fox bash.
Just as ANZ was struggling in 1992, the Melbourne CBD is a way off fully recovering from the COVID lockdowns. Indeed, perhaps Capp should be castigating Fox for not hosting his milestone birthday parties in his home town of Melbourne — particularly this year when the ravaged tourism sector needs all the help it can get.
