Melbourne-based online bookmaker Nick Fahey has apparently had a great year. He and his partner, Ten’s Melbourne weather host Kate Freebairn, are waiting. Plus his PointsBet shares came out of the escrow, leaving him $ 156.4 million richer on paper.
To top it all off, the 34-year-old is set to make his debut in Sydney’s high-end market thanks to the modern hillside home in Tamarama, which he has bought for more than $ 16 million.
Fahey was still in his late 20s when he founded PointsBet in 2015 with his brother Andrew and its current CEO Sam Swanell, using his credit cards and a personal loan.
It was launched on ASX two years ago, and the stock price rose last year when PointsBet signed on to become the US NBC Sports official betting partner, leading Fahey into last year’s AFR Young Rich List.
His new excavations are a three-level, five-bedroom home, home theater and swimming pool, which was commissioned by Bank of America’s Peter “Strawbs” Phillips and his wife Susie after they bought the property in 2015 for $ 3.25 million.
The exact price remains undisclosed by PPD’s Alexander Phillips, but is expected to come close to the $ 16.5 million paid earlier this year for a house a few doors away by fellow Young Rich Lists Kain Warwick.
This is not Fahey’s first taste of the real estate market in Tamarama. In June, he bought two apartments in a block by the sea of six for a total of $ 5.25 million.
Tom Waterhouse and his wife Hoda are still upgrading their Mosman properties.