Career
Elliott joined the global consulting firm McKinsey & Co. From there, he and several partners acquired control of an Australian Stock Exchange listed jam manufacturer - IXL Ltd.
Elliott and his team built the company up through a string of acquisitions throughout the late 1970s and 1980s, including Australian corporate icons Elders Limited, an agricultural services concern, Carlton and United Breweries now part of the Foster's Brewing Group and Australia's largest beer manufacturer, and Henry Jones IXL food manufacturer.
During this time he was also a high-profile President of the Carlton Football Club. He was an effective advocate for the club on a range of issues, and during his presidency the club won two VFL (now AFL) premierships.
In 1985 Elliott's company - by then called Elders IXL - played an important role as a white knight in fending off Robert Holmes à Court's attempted takeover of diversified mining company BHP. Elders bought a large share in BHP which blocked Holmes à Court's attempt to take control. As a result Elliott joined the BHP board. He then attempted a management buyout of Elders, but this was unsuccessful and left his A$80 million fortune considerably reduced.
Subsequently the National Crime Authority (NCA) investigated a foreign exchange transaction undertaken by Elders. Though one of his executives was jailed, Elliott was cleared of criminal charges. He accused the NCA of a vendetta inspired by the then Labor government and motivated by his position as Liberal Party President (which he held from 1987 to 1990). He later launched civil action for damages, which was ultimately unsuccessful.
In 1990, Elliott was a vocal supporter of the Multifunction Polis (MFP), a controversial concept to build in Australia a new technology city with a population of 100,000. At the time, the leader of the Liberal Party, Andrew Peacock, was vehemently opposed to the plan, claiming the Multifunction Polis would become an "asian enclave".
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