Kerry Stokes moves into oil

The billionaire and his lieutenant – former Woodside CEO Don Voelte – are taking some big bets on oil. Why now?

The price of oil has fallen by 15% in three months and is tipped to go lower, which makes it hard to understand why the Kerry Stokes-led Seven Group (SVW) has recently invested close to $250 million in a series of oil-linked deals.

But, as anyone who has watched this billionaire in action over recent decades will tell you, underestimate Kerry Stokes at your peril.

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