A massive payout to the hunt industry last week by an Australian private equity fund has fuelled calls for an inquiry into whether the industry has benefited from deregulation.
It is the latest example of an industry that has been decimated by a series of changes introduced under the previous Labor government.
The industry says deregulation has created a boom in trade and growth.
What are the top 10 biggest payoffs in the trade?
Read more: In July last year, an Australian hedge fund called Blackstone said it had paid more than $2.8bn in dividends to its shareholders since its IPO in 2007.
Blackstone’s founder, Stephen Schwarzman, was one of the first big names to profit from the boom in the global mining industry.
The fund paid $2 billion in dividends on its first day in the market in 2020, a record for Australian companies, according to the Australian Securities and Investments Commission.
The payout dwarfed the $2bn paid by the average Australian firm to its investors.
Mr Schwarzman was not immediately available for comment.
Other big payouts include the $8.5bn paid in 2017 to Blackstone shareholders by its chairman and chief executive, Anthony Scaramucci.
Mr Scaramuci, who was fired by the US President Donald Trump last month after he sparked a controversy for tweeting that “millions” of people had died in the US election.
Mr Scamuci also got a $1.5 billion payout in 2018 to his son, Michael, who is the chief executive of investment firm Evercore ISI.
The $1bn was the largest payout by a company-controlled company in Australian history, according the Australian National University.
It was the second largest for any company owned by a private equity group after Blackstone paid $1 billion to its employees.
Other top-paying companies were: Blackstone Group, a private wealth management company that owns the Blackstone-controlled London-listed Blackstone Mining.
Blackrock Group, the largest private wealth manager in the world.
CitiGroup, a fund based in New York that has assets of $834bn.
The Blackstone fund was acquired by Citi in January 2018.
The other top-paid companies are: Antero Group, an investment company that runs asset management companies including Blackstone and Blackrock.
Credicorp, a global investment services company that manages more than half of the assets of Blackstone.
The company has assets valued at $1 trillion.
The latest payout was made by the private equity firm Blackstone Partners, which is based in Sydney.
The firm is known for investing in tech and other technology companies.
The shares were trading at $US70.20 on Monday, about 30 cents above their previous close of $US62.70.
The money is the biggest payout for the group since 2007, when Blackstone gave $US9.2 billion to Blackrock, the highest single-day payout since the company was established.
BlackRock shares are currently trading at about $US50.10, up from about $47.30 a share in the June quarter.
The payouts are part of the broader $1tn-plus payout Blackstone made in 2016 and 2017.
A further $1,000m was paid in 2019 to the Blackrock Fund, a hedge fund based outside of the US.
The funds value in the stock market is estimated at $2tn.
The largest payout in the Black Stone group was $US1.1bn in 2018, and $US500m in 2017.