Anthony Pratt is busy disproving the theory that the third generation squanders family fortunes. The Pratts' wealth, underpinned by the Visy packaging and recycling businesses in Australasia and the U.S., has more than tripled since he took over in 2009. His grandfather Leon started the business in 1948 and late father Richard hugely expanded it. Anthony runs operations in the the U.S., where Pratt Industries is the biggest manufacturer of corrugated cardboard. Sisters Heloise Waislitz and Fiona Geminder have stakes in Visy; the sisters are also billionaires.