Tim Gurner, the founder and CEO of Gurner Group, a company specializing in luxury residential projects, is an Australian businessman with a remarkable success story. With a net worth of $1.1 billion as of October 2023, he is one of Australia’s youngest self-made billionaires. In this article, we will delve into his biography, personal life, achievements, controversies, and more, to learn about the man behind the empire.
Early Life & Family
Tim Gurner was born in Melbourne, Victoria, Australia in 1982. His parents are Colin Gurner and Sandie de Wolf. His father was a structural and civil engineer who passed away in 2016 due to cancer. His mother is the former chief executive of Berry Street, a child welfare charity. He has a younger sister named Kate.
Education
Tim Gurner was a standout athlete in rugby and cricket during his time at Carey Baptist Grammar School in Kew. He later enrolled in commerce at the University of Melbourne and Queens College but dropped out after two years to pursue his entrepreneurial ambitions with great determination.
Financial Status
Tim Gurner is an Australian businessman and property developer who is the founder and CEO of Gurner Group, a company that specializes in luxury residential projects. He is also one of Australia’s youngest self-made billionaires, with a net worth of $1.1 billion as of October 2023. In this article, we will explore his net worth, income sources, lifestyle, and more.
Net Worth
Tim Gurner’s net worth is estimated to be $1.1 billion as of October 2023, making him the second richest person under 40 in Australia. His net worth has increased significantly over the years, from $460 million in 2017 to $929 million in September 2023. His net worth is mainly derived from his property development business, which has a portfolio of more than $8 billion across Australia.
Income Sources
Tim Gurner’s main income source is his property development business, Gurner Group, which he established in 2013. Gurner Group focuses on creating design-led residences that offer elegant architecture and timeless appeal. The company has undertaken various high-profile projects in the Australian real estate landscape, such as:
- A joint venture with the Liberman family to develop a $1.8 billion mixed-use precinct in Docklands
- A $250 million apartment development of 189 Kent Street in Sydney
- Build-to-rent projects in Melbourne and Brisbane
- An anti-aging private social club called Saint Haven in Collingwood
Gurner Group has also expanded its presence to international markets such as Los Angeles and London. The company generates revenue from selling apartments, renting out properties, managing facilities, and offering wellness services.
Tim Gurner also has other income sources, such as his investments in other businesses and industries. For example, he has invested in a fintech company called Assembly Payments, a hospitality group called Made Establishment, and a fashion label called P.E Nation.
Lifestyle
Mr. Gurner, together with his wife Aimee Gurner (née Williams), co-founded the Gurner Group and is an accomplished interior designer. He resides in Melbourne with his family, including two children, a son named Leo and a daughter named Mila. Their opulent $52 million penthouse in Melbourne’s CBD boasts six bedrooms, nine bathrooms, a private cinema, and a rooftop pool. Additionally, they own properties in Sydney and Los Angeles.
He lives in Melbourne with his wife Aimee Gurner (née Williams), who is also the co-founder of Gurner Group and an interior designer. They have two children together: a son named Leo and a daughter named Mila. They own a $52 million penthouse in Melbourne’s CBD, which features six bedrooms, nine bathrooms, a rooftop pool, and a private cinema. They also own properties in Sydney and Los Angeles.
Tim Gurner is passionate about health and wellness and follows a strict regimen of supplements, blood tests, brain scans, and MRIs to optimize his performance and longevity. He also practices meditation, yoga, and Pilates. He is an avid traveler and enjoys skiing, golfing, and surfing.
Billionaire developer apologizes for saying workers need more ‘pain’ in the economy
Tim Gurner, one of Australia’s richest men and a property developer, has expressed his deep regret for his controversial remarks that suggested unemployment should rise by 40 to 50 percent to improve workers’ productivity and attitude.
What did he say?
Gurner, the founder and CEO of Gurner Group, made the comments during the Australian Financial Review (AFR) property summit on Tuesday, September 12, 2023. He claimed that the COVID-19 pandemic had changed employees’ work ethic and attitude for the worse, especially in the construction sector. He said that workers had become “arrogant” and “lazy” during the pandemic and did not want to work anymore.
He blamed the government’s stimulus measures, such as the JobKeeper wage subsidy and the JobSeeker unemployment benefit, for creating a sense of entitlement among workers. He said that these payments had been too generous and had disincentivized people from working hard.
He argued that the country needed more “pain” in the economy to remind workers of their place and to create a more competitive and productive workforce. He suggested that unemployment should increase by 40 to 50 percent, which would mean more than 200,000 people losing their jobs. He said that this would reduce the “arrogance” in the employment market and make workers more grateful to their employers.
He also criticized the government’s regulations and policies that he said were hampering the supply of housing in Australia. He said that these rules were making it harder and more expensive for developers to build new homes, which was contributing to the housing affordability crisis in the country.
What was the reaction?
Gurner’s remarks sparked a global backlash on social media platforms such as X (formerly Twitter), TikTok, and LinkedIn. Many people criticized him for being out of touch, insensitive and elitist. They accused him of being a hypocrite who had benefited from government support and tax breaks in his own business. They also pointed out his previous controversial statement in 2017, when he suggested that young people could not afford to buy homes because they spent too much money on avocado toast and coffee.
What did he say later?
On Wednesday, September 13, 2023, Gurner posted a message on LinkedIn, saying that he deeply regretted his comments and that they were wrong. He said that he had made a mistake and that he was sorry for hurting anyone with his words.
He said that there were important conversations to have about the challenges facing the economy, such as inflation, housing supply, cost of living, and productivity. However, he admitted that his comments were not constructive or helpful in addressing these issues.
He said that he appreciated that losing a job had a profound impact on workers and their families and that he sincerely regretted that his words did not convey empathy for those in that situation. He said that he respected all workers, especially those in the construction industry, who had worked hard to build his projects.
He also said that he supported the government’s efforts to stimulate the economy and protect jobs during the pandemic. He said that he recognized that these measures had been vital for many businesses and workers to survive.
He ended his message by saying that he hoped to learn from his mistake and to contribute positively to the future of Australia.
Career and Business
Tim Gurner started his career in the fitness industry, leasing a small gym in the Melbourne suburb of Elwood when he was 20 years old. He then ventured into property development and co-founded Urban Inc. with his former boss Danny Ciarma. Urban Inc. was a company that focused on developing boutique apartments in inner-city locations.
In 2013, Tim Gurner established his own company, Gurner Group, with the vision of creating design-led residences that offer elegant architecture and timeless appeal. He has since undertaken various high-profile projects in the Australian real estate landscape, such as:
- A joint venture with the Liberman family to develop a $1.8 billion mixed-use precinct in Docklands
- A $250 million apartment development of 189 Kent Street in Sydney
- Build-to-rent projects in Melbourne and Brisbane
- An anti-aging private social club called Saint Haven in Collingwood
Gurner Group has a portfolio of 20 buildings and more than 6,000 apartments under development across Victoria, New South Wales, and Queensland, with a value of more than $8 billion. Gurner Group has also expanded its presence to international markets such as Los Angeles and London.
Tim Gurner has received several awards and recognitions for his achievements in the property industry, such as:
- The Emerging Australian Entrepreneur of the Year award from Ernst & Young in 2016
- The Property Person of the Year award from Urban Developer in 2018
- The second spot on the Financial Review’s Young Rich List in 2020
- The judge role at The CEO Magazine’s 2021 Executive of the Year Awards
Marriage, Wife & Kids
Tim Gurner is married to Aimee Gurner (née Williams), who is also the co-founder of Gurner Group and an interior designer. They have two children together: a son named Leo and a daughter named Mila. They live in Melbourne and also own properties in Sydney and Los Angeles.
Tim Gurner is passionate about health and wellness and follows a strict regimen of supplements, blood tests, brain scans, and MRIs to optimize his performance and longevity. He also practices meditation, yoga, and Pilates. He is an avid traveler and enjoys skiing, golfing, and surfing.
Controversies and Criticisms
Tim Gurner is no stranger to controversy, having sparked heated debates with his comments on various topics. Some of his most notable controversies are:
- In May 2017, he said that millennials should not be buying smashed avocado on toast and $4 lattes if they want to afford a home. He claimed that he saved every penny he could when he was young and that young people today have unrealistic expectations and lack discipline. His comments went viral on social media and were widely criticized as being out of touch and insensitive to the challenges faced by young people in the housing market.
- In September 2023, he said that unemployment should rise by 40-50% to remind workers that they work for the employer, not the other way around. He argued that the COVID-19 pandemic had changed workers’ attitudes and work ethics for the worse and that they needed to see the pain in the economy to change their mindset. His comments were met with outrage and condemnation from politicians, unions, workers, and the public. He later apologized for his remarks and said that he deeply regretted them.
Tim Gurner Wiki/BIO
| Full Name | Tim Gurner |
| Date of Birth | 1982 |
| Age | 41 years (as of 2023) |
| Birth Place | Melbourne, Victoria, Australia |
| Nationality | Australian |
| Ethnicity | Australian White |
| Religion | Christian |
| Profession | Property Developer, CEO |
| Company | Gurner Group |
| Net Worth | $1.1 billion (as of October 2023) |
| Height | 5 feet 8 inches (approx) |
| Weight | 69 kg (approx) |
| Hair Color | Black |
| Eye Color | Black |
| Marital Status | Married |
| Wife | Aimee Gurner (née Williams) |
| Children | Leo and Mila |
Tim Gurner is an Australian businessman and property developer who is the founder and CEO of Gurner Group, a company that specializes in luxury residential projects. He is also one of Australia’s youngest self-made billionaires, with a net worth of $1.1 billion as of October 2023.
He is married to Aimee Gurner and has two children. He is passionate about health and wellness and follows a strict regimen of supplements, blood tests, brain scans, and MRIs. He has also been involved in several controversies and criticisms for his comments on millennials, housing, and unemployment.
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