logo
Revealed: How footy star Wes Maas made his $800million fortune - and volunteered to spend big bucks to help NSW win State of Origin

Revealed: How footy star Wes Maas made his $800million fortune - and volunteered to spend big bucks to help NSW win State of Origin

Daily Mail​a day ago

Former NRL player and rich-lister Wes Maas has gone from fringe South Sydney Rabbitoh to running a $1.5billion business - and he's used some of his incredible fortune to make a sensational offer to NSW Blues star Matt Burton.
Maas won two reserve-grade premierships with Parramatta before playing for the Rabbitohs at NRL level, but the shrewd businessman now devotes his time to Maas Group, a massive construction and property company that is listed on the Australian Stock Exchange (ASX).
Like Burton, Maas is no stranger to Dubbo rugby league, having played for powerhouse club Dubbo CYMS, where he was coached by future Bulldogs mentor Dean Pay and played alongside Penrith star Isaah Yeo's father Justin.
The 45-year-old was forced into an early retirement from the game due to shoulder issues in 2002, but returned to Dubbo, almost 400km north-west of Sydney, using $14,000 in savings to buy a Bobcat earthmover before borrowing $25,000 to pick up a single tipper truck.
And look where he is now.
Maas employs more than 1200 people and runs a company worth $1.5billion, with his estimated worth pegged at $814 million in 2024.
Maas said business was always more important to him than his footy career.
'I was probably one of the 10 per cent of people who wanted to work. I've always been a workaholic. That was probably to the detriment of my footy career,' he told a Financial Review podcast.
'I was a full-time football player. But I used to go to training at 6am in the morning, and then I finished footy training at 11 or 12, and then I'd get straight to work.'
He was a greenkeeper at Parramatta Stadium and Stadium Australia before moving into the hire and construction industry with Coates Hire.
The former footy player still owns 50 per cent of his company, which has four divisions: real estate, civil construction and hire, construction materials and manufacturing.
'Most of the things we do, we do 80 per cent of in house. We're quite different to a lot of developers who contract out,' he told Fairfax.
'Our cost is our cost. Obviously, we've seen inflation in house building, but we've been able to pass that on in house prices. We've maintained our margin.
'On the infrastructure side the business is as strong as ever, on the construction materials side it's as strong as ever. We've got a better forward order book than we've ever had.'
Burton, who has been the 18th man five times for the Blues, got a call from NSW management during his bye week leading into Origin game one this year.
The Bulldogs star was relaxing in his home town of Dubbo and was told that Stephen Crichton had injured himself and was in doubt for the Opener.
If Crichton couldn't play, Campbell Graham would be called in to play and Burton would need to get to Brisbane to be the 18th man.
Burton decided to call Massa, who is a mate of his.
'There wasn't going to be a flight straight from Dubbo to Brisbane, they'd been booked up, and obviously you want to give Critta as much time as possible to be right,' Burton told the Sydney Morning Herald.
'Because they couldn't make a call on Critta until 8am game day, the situation was pretty tight. Dubbo to Sydney and then flying to Brisbane, that was going to be too much running around and too tight again with not many flights.
'I didn't have any footy gear or anything either. I was on holiday. So I was ringing the Dogs and my manager for boots and footy kit, just having that ready in case.
'And I had a good mate with a plane in Dubbo who was ready to go, and I think he was pretty keen to do it, to be honest. It would've made an awesome story, right?

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Sinking feeling as Adelaide Advertiser chooses wrong week to run Aukus submarines sponsored series
Sinking feeling as Adelaide Advertiser chooses wrong week to run Aukus submarines sponsored series

The Guardian

timean hour ago

  • The Guardian

Sinking feeling as Adelaide Advertiser chooses wrong week to run Aukus submarines sponsored series

Editors at Murdoch's South Australian masthead, the Advertiser, could not have imagined that hours after they published the first instalment of a major advertising series, Defending Australia, the Trump administration would announce a review of Aukus. Sponsors for the series included the South Australian government, ASC, Babcock, BAE Systems, Hanwha Defence Australia, KBR and Deloitte. The acres of print coverage about building submarines in the state was to culminate in a summit in Canberra's Parliament House on Monday 16 June. Apart from defending Australia, the focus of the series was finding skilled workers for 'Australia's biggest-ever project, Aukus nuclear-powered submarines'. On Thursday the 'Tiser ran a double page spread about plans for a $2bn transformation of the Osborne Naval Shipyard into the world's 'most advanced manufacturing centre' for the Aukus program. The stories were pre-written and spruiked plans for nuclear submarine construction, complete with maps and diagrams and interviews with defence boffins. Friday's paper went ahead with the eight-page Defending Australia lift-out but its front page acknowledged the roadblock with a big stamp saying 'Under Review' and it reported that the future of our nuclear submarine deal with the US is in doubt. It was a public relations coup for the Australia-Israel and Jewish Affairs Council (AIJAC). The three journalists the lobby group took to Israel were so enthused by the experience that they all wrote long features upon return: the three main pieces totalled 10,000 words. While these sponsored trips are an annual occurrence, attended by journalists across the media industry, this year's comes at a time when the relationship between Australia and Israel is more fraught than ever. In The Australian, which sent two journalists on the sponsored trip, Paul Kelly's article in the weekend paper came in at just under 5,000 words. He followed that up with an appearance on Sky News Australia with Sharri Markson in which he reflected on his visit. The editor-at-large was one of a media delegation that visited Jerusalem and Tel Aviv, as well as the sites of Hamas's 7 October 2023 attack. Among the dignitaries lined up to speak was Israel's president, Isaac Herzog, families of IDF troops fighting in Gaza and survivors of the Nova music festival. Kelly's colleague, Chris Kenny, wrote a 2,500 word feature and also provided live crosses on Sky News, where he has his own program. 'This is the diabolic dilemma deliberately created by Hamas,' Kenny wrote. 'Every time Israel is criticised for its actions in Gaza, Hamas scores a propaganda win. The deaths of Palestinian civilians are central to the Hamas strategy. That is why Hamas shelters underground in its extensive tunnel network, leaving Gazan civilians above ground and exposed.' Michael Stutchbury, the outgoing editor-at-large of the Australian Financial Review, filed a news story from Israel and last week reported on the accusations he heard while there of 'betrayal' and 'backstabbing' by the Australian government in a 2,500 word feature. All three men disclosed the trip was hosted by AIJAC at the end of their articles. AIJAC has not responded to a request for comment. With a criminal trial involving mushrooms dominating the news cycle it's no surprise the Daily Telegraph devoted its front page to the fungi on Wednesday. Or was it? The exclusive story Magic Mushrooms Found Growing at State Parliament had nothing to do with the Erin Patterson triple murder trial but was a stunt handed on a plate to the tabloid by the Legalise Cannabis party MP, Jeremy Buckingham. 'A crop of illegal drugs sprang up at NSW parliament last week, metres away from unsuspecting NSW police special constables,' state political editor James Doherty wrote. He followed up his remarkable yarn with a video. 'Psychedelic 'magic' mushrooms started growing outside the main entrance to Australia's oldest parliament after a period of heavy rain, right under the noses of state politicians, bureaucrats and law enforcement.' The point of this story was lost on some of the Tele readers too, with one commenting: 'So a naturally occurring fungi, whose spores are wind blown, are growing in the gardens of the NSW Parliament House. I have probably had these growing in my yard under the right conditions. What will become a news story next? Breaking news, there are sharks in the waters around Mrs Macquarie's Chair.' Buckingham told Weekly Beast he wanted to publicise what he sees as the excessive penalty for magic mushroom possession and he approached the Tele. He made clear that he spotted the mushrooms growing near the stairs and he did not plant them there. Should anyone accuse the Tele of handling illegal drugs, Doherty reported that 'following consultations with authorities, the Telegraph handed the samples over to NSW police for appropriate disposal'. ABC News has named one of its cadetship positions in honour of Antony Green – who has taken on the grand title election analyst emeritus – the managing director, Hugh Marks, announced at an event at Ultimo last week. It will be awarded each year to a cadet specialising in data analysis, statistics, mathematics or AI skills. Following Green's retirement after 90 elections, Casey Briggs is now the ABC's chief election and data analyst. Briggs's first Australian election in the new role will be the upcoming Tasmanian poll. Green has revealed he is donating three decades' worth of his personal comprehensive election guides to the National Library of Australia so they can be preserved in perpetuity. The self-regulatory watchdog for advertising, Ad Standards, has found an Australian Gas Networks (AGN) advertisement which ran on Ten's MasterChef Australia breached environmental advertising standards and has been taken off air. The ad said: 'It's not just the innovative dishes that come out of this kitchen that will surprise you, it's also the gas. The MasterChef kitchen is cooking with renewable gas again, and at AGN we're working towards a future where renewable gas could one day be used in your kitchen. With all the control you love'. In its ruling, Ad Standards said the claim was 'vague and does not make it clear that the plan to fully transition to renewable gas, sourced from hydrogen and biomethane, is not expected to be realised until 2050'. Last year environmentalists accused the hit reality TV show of greenwashing after Ten announced sponsorship deals with AGN, a subsidiary of Australian Gas Infrastructure Group, which delivers gas to more than 2m homes and businesses. Environment Victoria, which lodged the complaint, told Weekly Beast: 'We are pleased that Ad Standards have vindicated the call to expose the misinformation and false solutions from the Australian Gas Networks'. Founder of climate communications charity, Comms Declare, Belinda Noble said AGN had been found to have repeatedly breached ad standards on the subject. 'Australian consumers are still being duped into thinking that fossil gas is a climate solution.' The ABC 7.30 host Sarah Ferguson told viewers on Thursday's program that Jacob Greber would replace Laura Tingle as political editor. A former Australian Financial Review economics and US correspondent, Greber only joined the ABC as chief digital political correspondent a year ago, but his story-breaking and analysis skills have impressed. Greber, who takes up the new role on 7 July, paid tribute to Tingle, now the ABC's global affairs editor as 'an absolute class act and fearless force of nature'. 'I'm humbled and thrilled to pick up where she's left off,' he said.

Credit Suisse was ‘warned' about Greensill three years before firm collapsed
Credit Suisse was ‘warned' about Greensill three years before firm collapsed

The Guardian

timean hour ago

  • The Guardian

Credit Suisse was ‘warned' about Greensill three years before firm collapsed

Bosses at Credit Suisse were warned against dealing with the Australian financier Lex Greensill's eponymous company three years before the collapse of his Greensill Capital, which once employed the former UK prime minister David Cameron as an adviser. The 'character judgment' of senior Credit Suisse managers was challenged in anonymous messages they received as early as 2018, which raised concerns over the Swiss bank's dealings with Greensill, according to a report by the Swiss regulator Finma, released under a London court order after a request by the Guardian and other media. The document showed senior managers were warned several times about the risks involved in its business dealings with Greensill and his firm, the 2021 collapse of which contributed to Credit Suisse's shocking demise in March 2023. A message from an anonymous tipster raised 'strong doubts' over the bank's strategy of packaging up Greensill's loans into $10bn (£7.4bn) worth of investable funds for wealthy clients. Greensill appeared at the high court in London this week as a witness in a month-long trial, in which a former Credit Suisse fund is suing the Japanese tech investor SoftBank for $440m over a complex deal it allegedly coordinated with Greensill Capital before its collapse. The Finma report, released as part of the trial, detailed the messages sent to Credit Suisse managers. 'We also have serious doubts about your character judgment in choosing Greensill Capital as a partner in this field, and even more so in giving them the degree of discretion over your clients' money which they appear to have,' the message said. The tipster was also concerned that a 'large proportion' of those loans were to companies in the metals magnate Sanjeev Gupta's troubled steel empire. The message added that the recent collapse of another set of Greensill-backed funds offered by rival asset manager GAM 'should be taken as a strong warning … you need to take care'. One senior manager forwarded the 2018 tipoff to Lex Greensill, adding: 'People in CS are receiving anonymous mails … seriously, you have to rethink your communication strategy!' Greensill Capital, founded in 2011, offered corporate loans, giving companies advances on their invoices in exchange for a fee. But its founder, the Australian melon farmer turned City banker, entered into a series of complex financial agreements and marketed his lender as a tech firm stacked with high-profile advisers including Cameron. Greensill went on to attract a series of large investors including General Atlantic and SoftBank, whose investments were purportedly meant to expand Greensill's activities. 'However, as it later turned out, these funds were primarily used to pay out private investors and to provide Greensill Bank, which was increasingly coming under regulatory scrutiny, with additional capital,' the Finma report stated. 'Under the management of Lex Greensill, the company provide[d] customised suits for its employees, elegant business premises and its own fleet of business jets.' Finma's report, which was compiled in December 2022 after nearly two years of investigations, showed Credit Suisse bosses continued to receive warnings over their dealings with Greensill as late as June 2019. Greensill was, at the time, still on the rise and had hoped to launch a £22bn stock market flotation before the Covid pandemic put its clients and investors under severe financial strain. Sign up to Business Today Get set for the working day – we'll point you to all the business news and analysis you need every morning after newsletter promotion Greensill eventually collapsed in March 2021, after insurers refused to renew contracts that underpinned its loans. It came amid growing concern over the firm's management and its outsized exposure to Gupta's metals empire, which ultimately sparked a string of financial and political scandals. It forced Credit Suisse to close its $10bn Greensill-backed funds, leaving wealthy customers nursing hundreds of millions of dollars worth of losses and further eroding confidence in Credit Suisse. That led the Swiss regulator, Finma, to launch what became a near two-year investigation into its dealings with Greensill. The full resulting Finma report was never previously released. But key findings, released in February 2023, declared that Credit Suisse 'seriously breached its supervisory obligations' and would face additional oversight for senior managers and important business relationships. The 167-year-old bank collapsed a month later, leading to its emergency rescue by rival UBS. UBS is still trying to recoup money for former investors of the Greensill-backed Credit Suisse funds. Commenting on the Finma report, UBS said: 'This is a legacy Credit Suisse matter. The conduct described in the report pre-dates UBS's acquisition of Credit Suisse.' A representative for Lex Greensill declined to comment.

Aussie Olympian Heath Ryan is BANNED over shocking video showing him subjecting a horse to a shocking act 42 times in footage that has gone global
Aussie Olympian Heath Ryan is BANNED over shocking video showing him subjecting a horse to a shocking act 42 times in footage that has gone global

Daily Mail​

timean hour ago

  • Daily Mail​

Aussie Olympian Heath Ryan is BANNED over shocking video showing him subjecting a horse to a shocking act 42 times in footage that has gone global

Olympian Heath Ryan has been suspended by Equestrian Australia after a video surfaced showing him repeatedly whipping a horse. Ryan had insisted he was on a 'rescue mission' after horrific footage emerged of the international equestrian star whipping a horse more than 40 times at a private stable. He claimed he was acting in the horse's best interests, saying the animal had a dangerous history. Equestrian Australia called the footage alarming and issued a provisional suspension pending a formal investigation. 'Equestrian Australia is extremely alarmed and concerned by the treatment of the horse shown in this footage,' a statement read. 'Our policies include high standards to protect all participants and their horses against any adverse physical, social, and emotional conditions.' Ryan, 66, who competed at the 2008 Games in Beijing in the dressage team event, issued a statement online after the confronting vision appeared on social media via US-based Facebook page Dressage Hub. He conceded the footage is 'awful' - but the Newcastle based rider maintained he was doing his utmost to ensure the horse wasn't sent to the slaughter house. Ryan also claimed the vision was posted 'by an unhappy ex-employee.' 'Oh my goodness! The most awful video of me on a young horse has just surfaced,' his lengthy Facebook post began. 'This horse was dropped off at my place on his way to the knackery. His name is Nico. He was 6 years of age. A beautiful type. '(After the repeated whipping) I rode Nico for another couple of days and he responded very well. 'All of this transpired sincerely with the horse's best interests the sole consideration. 'I (also) need to add that this happened about two years the video has been posted by an unhappy ex-employee. Heath Ryan's lengthy statement after the confronting vision appeared on social media via Facebook page Dressage Hub 'All I can say is that this awful video was collateral damage of me from the bottom of my heart launching a rescue mission.' Ryan has competed in equestrian events in Australia for decades, with his crowning achievement an appearance at the Beijing Olympics. He is also the brother of triple Olympic equestrian gold medallist Matt Ryan, who was part of the eventing team who famously stormed to victory at the Sydney Games in 2000. The incident follows British golden girl Charlotte Dujardin sensationally quitting just days before the 2024 Paris Olympics after a video emerged of her allegedly whipping a horse on the legs repeatedly. Last December, Dujardin was suspended from the sport for 12 months by the International Federation for Equestrian Sports (FEI), as the six-time Olympic medallist conceded she made an 'an error of judgement' during a coaching session. Dujardin had returned to competition leading into Paris after giving birth to her first child Isabella in March of 2023.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store