Australian billionaire and politician Clive Palmer’s more eccentric investments include a dinosaur theme park, a football team and, perhaps most bizarrely, a modern-day replica of the ill-fated Titanic that sank on its maiden voyage in 1912. Here’s the story of the man who made his money in mining, lost a lot of it, and is now worth a whopping A$2.6 billion ($1.8bn/£1.4bn).

Clive Frederick Palmer was born in Footscray, Victoria, in 1954 and was raised in the Melbourne suburb until his asthma, which was worsened by pollution, forced the family to move to the scenic Gold Coast, Queensland. While he did go on to study journalism and law at the University of Queensland, his early life didn't necessarily foreshadow his successful future, as he dropped out in 1975. 

While his academic career may not have been successful, Palmer did meet his first wife Sue during his time at the University of Queensland. They went on to have two children – Michael and Emily. The couple were married for 22 years before she died from cancer in 2006. Palmer later said that one of his greatest challenges at the time was raising his daughter Emily, who was approaching adolescence when her mother died.

After dropping out of university, Palmer acquired a real estate licence and made a fortune in property development. He did well out of the 1980s Gold Coast property boom and "retired" from the industry aged just 29. Palmer claims he made some A$40 million ($28m/£22m) through his company GSS Property Sales before quitting in the mid-1980s.

It was at this time that Palmer turned his hand to the world of mining. In 1985 and 1986, Palmer started three companies with an interest in mining exploration in the west of the country. One – Mineralogy – ended up acquiring large stakes of prime iron ore country in the Pilbara region of Western Australia. In 2006, he leased his iron mines to Chinese government-owned CITIC Ltd in a deal that was then worth A$3 billion – A$4.09bn (£2.2bn/$2.8bn) in today's money – including royalties on any iron ore produced. 

Mineralogy later acquired coal mines and a nickel and cobalt factor refinery. However, critics claimed Palmer’s mines contained only low-grade ores and produced little, if any, actual metal and questioned his reputation as a "mining magnate". From 2014, his relationship with CITIC deteriorated, with both sides initiating a series of court cases against each other. In May this year, Western Australia's Supreme Court ruled that CITIC owed Palmer millions in past and future royalties. 

Palmer married his second wife Anna in 2007, a year after the death of his first spouse Sue. Bulgarian-born Anna, who is 20 years younger than her husband, was previously married to his friend Andrew Topalov, who also died of cancer in 2006. In a strange twist, Palmer had actually played the role of father of the bride at her first wedding, when Anna's own parents were unable to make it to Australia in time for the ceremony.

Palmer and Anna, who is both a qualified accountant and lawyer, went on to have two daughters, Mary and Lucy. Announcing Lucy's birth on Twitter, Palmer revealed she may need extra lines in her passport, tweeting: "Middle names are Diamond Stelina Mary Anna Nancy. She has lots of love & lots of good examples to follow from all the women in the Palmer family. Girls Rock!"

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Palmer acquired Queensland Nickel and the Palmer Nickel and Cobalt Refinery in 2009 after BHP Billiton announced it was going to close the site. A year later, Palmer handed out A$10 million ($7m/£5m) in gifts to 800 staff at the Townsville plant, including a fleet of 55 Mercedes-Benz cars. He also used Queensland Nickel to bankroll his political ambitions, using A$20 million ($14m/£11m) from the refinery to fund the Palmer United Party, later known as the United Australia Party.

But in early 2016 Queensland Nickel went into voluntary administration, having laid off 237 workers, citing low nickel prices and the Queensland government's refusal to guarantee a A$35 million ($24m/£19m) loan a few days earlier. Palmer later said he had no personal responsibility to ensure his sacked refinery workers get their entitlements, forcing the federal government to cover entitlements for the total 800 workers who eventually lost their jobs.

In April 2019, Palmer changed his tune and declared that he would put A$7 million ($4.8m/£3.8m) into a fund for Queensland Nickel workers who lost their jobs, but continued to insist that neither he nor his companies were responsible for dismissals at the Yabalu site. The billionaire businessman faced trial over the company's collapse in July, and in August liquidators won their lawsuit, meaning that Palmer has to repay debts of up to A$200 million (£105m/$156m).

Palmer has always had an interest in the political machine. A member of the conservative National Party since the 70s, Palmer volunteered as campaign director during the 1983 Queensland state elections and later became its spokesman. In 1992, he was awarded life membership of the party but left in 2012 after disputes with leadership of the then-merged Liberal National Party. 

In 2013, Palmer announced the resurrection of the United Australia Party, which had been folded into the Liberal Party of Australia in 1945. He renamed it the Palmer United Party. A year after winning the Sunshine Coast seat of Fairfax after a recount, it was reported that he had the lowest attendance rate in the 44th parliament, having voted in just over 7% of all votes. Palmer claimed: “It’s because I’m negotiating with the government about the passage of their legislation.” In 2017, he disbanded the Palmer United Party after doubts over his ability to secure votes, and media criticism. 

 

Ever one to change his mind, Palmer resurrected his party as the rebranded United Australia Party in 2018, with One Nation defector Brian Burston as its senate leader and single sitting member. In response to reports Palmer would run for a lower house seat in the 2019 federal election, north Queensland MP Cathy O'Toole, whose seat was home to Queensland Nickel, said: "If Clive Palmer has the money to establish his political party again, he can pay the workers in my community their entitlements."

The United Australia Party ended up running candidates for all lower house seats in the 2019 federal election, with Palmer himself running for a Queensland senate seat. The billionaire spent an estimated A$60m (US$41.7m/£32.75m) on his Trump-style "Make Australia Great" campaign advertising and he has also become renowned for the memes used throughout his campaign, as pictured. The party failed to win a single seat in the end, although analysts said his millions had had an impact on the final election result, particularly in Queensland. 

Palmer bought A-League football team Gold Coast United with great ambitions in 2008, partly as a fan of the sport but also because he saw it as an ideal way to lift his profile in China. The team started the 2009 season with a bang, but his own shambolic performance went on to alienate fans. Palmer had a public spat with the Queensland State Government over the cost of playing at Skilled Park, leading him to close half the stadium in a bid to cut costs.

Three years later, Gold Coast United's licence was terminated in 2012 after Palmer refused to change the slogan on the team's shirts. After a series of run-ins with the Football Federation Australia (FFA), the team decided to wear "freedom of speech" on their kit. Palmer claimed it was in defence of refugees but the FFA decided it was the final straw and revoked his A-League licence. He went on to found the rebel organisation Football Australia, but that's long since been disbanded. 

Palmer reportedly bought 100-foot superyacht Maximus II off fallen IT tycoon Daniel Tzvetkoff for his daughter Mary's 15th birthday. Purchased for a bargain price of A$5.3 million in 2009 (A$6.6 million or US$4.5m/£3.5m today), it was the epitome of luxury and featured 12 cabins, a spa and formal dining area. But in 2017 the boat, moored in Gold Coast's Runaway Bay Marina (pictured) was set to be sold for a comparatively measly A$5 million ($3.5m/£2.8m).

Despite owning a superyacht, a private jet and expensive homes in Queensland, Perth and Beijing, Palmer is known for wearing A$23 ($16/£12) trousers from Australian menswear retailer Lowes. For a man known to own a Ferrari, two Bentleys and Rolls-Royce Phantom, that's quite a bargain. 

In 2011, when his net worth was estimated to be A$5 billion ($3.9bn/£2.8bn), Palmer bought the Hyatt Regency Resort on Queensland's Sunshine Coast. He renamed it the Palmer Coolum Resort and unveiled plans to create a dinosaur theme park called Palmersaurus, featuring 160 animatronic versions of the prehistoric beasts. A T-Rex called Jeff (pictured) was also placed near the 18th hole for the 2012 Australian PGA Championships, which was due to be held there. The PGA promptly took its event elsewhere. 

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However, the Coolum Palmer Resort was effectively mothballed in 2015. It had faced a string of complaints including the dinosaur park Palmersaurus being only just metres away from some of the guesthouses, meaning guests could hear the incessant roaring of the animatronic creatures. Jeff the T-Rex had also gone up in flames. Once regarded as one of the area's most prestigious resorts, in 2017 the broadcaster ABC described the site as a "shadow of its former self". 

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The year 2019 started out well for Palmer, who made it back on to the Forbes Australia Rich List, with an estimated fortune of A$2.6 billion ($1.8bn/£1.4bn). Palmer had been off the list for five years, but made it back on at 20th position and for the first time as a billionaire. The boost in his finances was in part thanks to Chinese company CITIC being ordered to pay him millions in royalties, following its dispute with Mineralogy over leased land. 

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Another of Palmer's businesses was in the news again in May. Waratah Coal, which holds various exploration licences in Queensland, has proposed building two coal mines and a 1,400-megawatt ultra-supercritical power station in the Galilee Basin. State Premier Annastacia Palaszczuk previously dismissed the project but ABC reported that the Queensland government has met Waratah Coal representatives multiple times to discuss the plans. In October, Waratah Coal reapplied for a mining lease to create the mine, which is set to be four times bigger than rival Adani Mining's already-approved Carmichael mine which is also in the area. The public were offered the chance to comment on Palmer's mine proposal, but the notice was only published in the classified section of a weekly newspaper in Emerald, Queensland, according to The Guardian.

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Clive Palmer's most recent run-in with the media hasn't got anything to do with his businesses, but rather a YouTuber who satirised him in one of his videos. The internet comedian Jordan Shanks, known online as friendlyjordies, posted a video containing "defamatory comments" about the billionaire, which gained thousands of views. According to Palmer's lawyer, the video caused "extreme embarrassment' and was damaging to his reputation. As a result, Palmer is attempting to sue Shanks for A$500,000 (£264,000/$340,000). 

One way or another, Palmer has made quite an impact in Australia. But to those of us in the rest of the world, he is perhaps best known for being the man brave enough to build a second Titanic...

He first announced his grand plans to resurrect the doomed ship in 2012. The ship's designs, which were estimated at an initial cost of A$700 million (US$475m/£370m), were unveiled the following year at several elaborate press events across the world.  

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The modern reproduction of Palmer's nine-decked, 840-room ship is designed to be 13 feet wider and three inches longer than the original Titanic. And with a gross tonnage of 56,000 tons, it will be a good 10,000 tons heavier than the first boat.

The luxury ocean liner will combine Edwardian grandeur with 21st-century tech – cabins and suites will feature modern amenities, from Wi-Fi access to en-suite bathrooms. Not only that but the modern Titanic will even have a nightclub, and helipad. Most crucially perhaps, is that the new ship will be kitted out with all of the necessary modern safety features, including plenty of lifeboats for everybody onboard.

The ship was initially planned to set sail in 2016. But Palmer's mining company's battle with Chinese firm CITIC meant that funds were put on hold. Late last year, however, the company behind the new ship Blue Star Line announced that the build was back on and that it would sail from Dubai to Southampton, to New York in 2022. Yet, with some reports stating that construction is underway, and others saying that the build is yet to start in China, there is some doubt as to whether Palmer's Titanic will ever hit the waves.

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