{{short description|Australian businessman (born 1944)}} {{Use Australian English|date=February 2015}} {{Use dmy dates|date=August 2019}}
'''Robert Fredrick ("Ric") Stowe''' (born 1944) is a businessman who was once prominent in Western Australia.
Stowe acquired Griffin Coal in 1979 and later acquired SkyWest and East-West Airlines during the 1980s.<ref name=Rich>{{cite web|url=https://thewest.com.au/news/wa/taxing-time-of-late-for-rich-ric-ng-ya-225813|title=Taxing time of late for rich Ric|author=Sean Cowan|date=5 January 2010|accessdate=24 April 2022|newspaper=The West Australian}}</ref> In 1984, Stowe joined the John Curtin Foundation along with Alan Bond, Ernest Henry Lee-Steere and Laurie Connell to raise funds for the then premier of Western Australia, Brian Burke.
The reclusive millionaire moved to Monaco in 1986, mooring his {{convert|60|m|ft|adj=on}} yacht ''Capella'' at the tax haven. Since then he has split his time between his new home and Western Australia.
Stowe separated from his partner, Jemma Lee-Steere (Ernest Lee-Steere's daughter), in 1990. The subsequent court battle was subjected to media scrutiny. The couple had three daughters and a son and had been together for ten years. Though they never married, she changed her surname to Stowe by deed poll at his insistence. In 1994 she sued Stowe for {{AUD}}250 million and, by 2000, a settlement was reached.<ref name=Rich/> In 2003, Stowe married Anne-Margaret MacDermott of Perth, his fourth wife.<ref name=Rich/>
In 2010 administrators were called in when Griffin Coal failed to pay a {{USD}}25-million instalment on {{USD}}475 million worth of bonds. Griffin had also failed to pay the Australian Taxation Office a {{AUD}}5-million instalment of a {{AUD}}65-million debt. The company collapsed shortly afterwards, leaving an estimated {{AUD}}2 billion debt on coal and associated energy assets.<ref>{{cite web|url=https://www.smh.com.au/business/farewell-to-fortune-as-creditors-close-in-20100224-p3in.html|title=Farewell to fortune as creditors close in|author=Colin Kruger|date=25 February 2010|accessdate=24 April 2022|work=The Sydney Morning Herald}}</ref> Soon after, properties from another Stowe company, WR Carpenter Agriculture Pty Ltd, which controlled a herd of 50,000 cattle, were being sold off; these included Minilya and Joanna Plains Stations.<ref name=krugfeb>{{cite web|url=https://www.smh.com.au/business/dreams-turn-to-dust-out-west-20100526-we8y.html|title=Dreams turn to dust out west|author=Colin Kruger |date=27 May 2010|accessdate=24 April 2022|work=The Sydney Morning Herald}}</ref>
A fire sale of Stowe assets followed, with his estate, Devereaux Farm, near Bullsbrook selling in 2013. The {{convert|2700|ha|acre|0|adj=on}} property{{mdash}}with a 20-room, 8-bathroom mansion, two swimming pools, two helipads and a polo field{{mdash}}for which the asking price was {{AUD}}70 million,<ref name=krugfeb/> sold for {{AUD}}21.35 million in 2013.<ref>{{cite web|url=http://www.theaustralian.com.au/executive-living/home-design/ric-stowes-devereaux-farm-sells-for-2135m/story-fn6njxlr-1226735399918|title=Ric Stowe's Devereaux Farm sells for $21.35m |author=Gina Rushton |date=9 October 2013|accessdate=24 Apr 2022|work=The Australian}}</ref>
==References== {{reflist}}
{{DEFAULTSORT:Stowe, Ric}} Category:Living people Category:1944 births Category:Australian businesspeople Category:Australian expatriates in Monaco