Andrew Banks is an Australian entrepreneur and businessman with an estimated net worth of $300 million. He’s one of the “sharks” on the Australian reality show Shark Tank.
How did this salesperson from door to door be one of today’s well-known entrepreneurs and filmmakers today and have a worth of around $300 million? Let’s have a look.
|Full Name||Andrew Banks|
|Date of Birth||November 30, 1951|
|Current Age||70 Years|
|Place of Birth||Lambeth|
|Birth Country||United Kingdom|
|Height||5 feet 9 inches|
|Net Worth||$300 million|
Andrew Bank was born on November 30, 1951, in Lambeth, London, England. Andrew Banks was the 5th of six brothers. His father was an officer sergeant in the Medical Corps of the British Army and his mother was born in Vienna and was living in Gdansk, Poland, and was fluent in six languages.
Following the time that the Banks family relocated to Chichester in the year 1961 and he went to a local state grammar school. He also took part in amateur drama productions.
After completing 10 O’ levels along with 4 “A’ grades, Banks was accepted into several UK universities. He decided to pursue a degree in Science and Mathematics at London University.
After passing a year and a half of tests for Applied Biology, Banks started working as a part-time door-to-door salesman, selling paintings later becoming the director of the business, and was in charge of an office with 10 teams.
Banks was also able to use his acting expertise to perform voiceovers and even employed two individuals to sell fashionable “Carnaby Street” shirts in the cafeteria at the university.
But, Banks’ university degree was halted because an Australian friend offered sponsorship to allow him to move from Australia in the final phase of the Assisted Passage Migration Scheme. Andrew was admitted to Sydney, Australia, in 1972, as a “Ten Pound Pom.”
After the move from the United States to Australia, Banks sought an acting career. He was a student in Shakespearean Training at the Old Tote Theatre Company (now NIDA the National Institute of Dramatic Arts). He played small roles in the television show Number 96 and the Old Tote Theatre Company’s production Macbeth in Sydney Opera House in 1974. Sydney Opera House in 1974.
In a completely different direction, Banks decided to buy into the Red Pavilion Bar and Restaurant in Woolloomooloo and repaid his first capital 14 months after.
Maybe his wedding with his Australian partner, Andre, in 1974 is the reason he decided to find a more steady job. After their trip to Australia, the search for a job began.
As oil could ignite an ignition when working with the French energy company Elf Aquitaine, Banks’ fascination with Human Resources and recruitment was initiated. After arriving in London the roles were followed by Brown and Root (now Halliburton) which involved moves from Norway, USA, and then returning to the UK as HR Director Regional in Europe as well as Africa Marine Division.
Following his return to Australia in the year 1980, Banks accepted an advertised job as a recruiter at Slade Consulting in Sydney. He established and opened the company’s new Brisbane office. Later, he returned to Sydney to oversee each of the Sydney and Brisbane offices until the end of December.
Alongside his Business partner Geoff Morgan, Banks co-founded the recruitment firm, Morgan and Banks, in the year 1985. The business quickly increased to 17 percent of the market within Australia and Asia and had sales exceeding A$850m, the company went public in the year 1995.
The merger formed by Morgan and Banks and TMP/Monster, a listed US NASDAQ company, occurred in 1999. Banks was living in New York with TMP Worldwide as the Global Director. the charge for more than 500 acquisitions and 4,500 employees working in 32 countries was placed on his feet. Banks returned to Sydney in 2002.
In December 2003, Banks created Talent2 International (which had operations in 20 countries prior to its being privatized in 2012 as the joint venture of Morgan & Banks Investments (MBI) and US company, Allegis Group Inc, the largest privately-owned recruitment firm worldwide).
This ASX-listed business focused on HR Outsourcing along with executive Search and Selection, had Geoff Morgan serve as its Non-Executive Director. In July 2014, the 100 percent deal to acquire Talent2 from Allegis Group Inc, was completed. Banks was an advisor to the Search process of the company up to July 2015.
From 1988 onwards, Andrew Banks has been investing in different types of businesses in Australia which include construction of properties and home renovations, hotels in residential areas (Sebel Manly), commercial property (53 Martin Place), and operating businesses like Krispy Kreme Australia, a cosmetics retailer, and an online company for recruiting.
Like he’s probably most well-known, Andrew Banks starred as one of the Sharks in the first episode of Shark Tank in 2015. In this show, he made investments in the company in Bottlepops, Synxsole, and the Hamdog.
Banks returned in 2016 for Season Two of Shark Tank Australia along with Season Three, which aired in 2017. Prior to that, the highest amount of money invested in Shark Tank was $750 000.
Banks certainly pushed this to the limit by setting a brand new standard by investing $2.5 million into Kane Bodiam’s coffee company which earned Andrew Banks a 22.5 percent stake. Banks said that putting such large sums of money into encapsulated was an easy decision.
Presently, Banks is the Resident Entrepreneur at Sydney’s Tank Stream Labs, part of the biggest hub for start-ups in Australia. Banks are also active in investing in more than twenty start-ups, including spirits that are non-alcoholic as well as an online educational tool for children.
Andrew Banks is generous in providing tips and advice on how to create an empire, establish an environment that draws and keeps top talent and how to implement strategies that contribute to rapid expansion, and, most importantly get to the balance between work and life.
Andrew Banks is also an extremely practical and logical man, as evidenced by his subsequent two remarks: “I’m looking for an enlightened mind, a solid strategy, and the capability to implement their vision to create a strong team culture, and we’d hire based on personalities as well as their style and enthusiasm.
Therefore, we’d use Accounting professionals to hire Accountants and Engineers to hire Engineers. We seek out who the person is as different from what they did previously.”
Andrew Banks still holds fast to his passion for theatre and film and is able to look for ways to promote it.
He was the chairman of the NIDA Foundation Trust (National Institute of the Dramatic Arts Foundation Trust) and continues to be the Trust Director, even after his departure in 2014.
Banks is the founder and producer of a production firm, Lila 9th Productions, along with Cameron Lamb and the company is in the process of developing new ideas.
Lila 9th Productions’ completed film projects include ‘Daydream Nation’ (Canada), ‘Syrup as well as ‘Kumiko, The Treasure Hunter’, which was awarded the Sundance award in 2014.
Andrew Banks joined the YPO (Young Presidents’ Organization) in 1988. He is still an active member of the group of business leaders WPO (World presidents’ Organization).
Alongside Geoff Morgan, Andrew Banks has co-authored 4 books on recruitment:
Andrew Banks and Geoff Morgan received Geoff Morgan and Andrew Banks won the Ernst & Young Australia, Master Entrepreneur of the Year Award (Eastern Region) for their consistent growth in their businesses in 2004.
In 2015 also Geoff Morgan and Andrew Banks both received accolades of the Top 5 Most influential people from the HR fraternity, in the last 60 years.
Where Does He Rank Amongst the Top Sharks
|Glen Richards||$700 Million|
|Andrew Banks||$300 Million|
|Janine Allis||$66 Million|
|Steve Baxter||$50 Milllion+|
|Naomi Simson||$40 Million|
The Key Takeaway
There’s something to be loved about Andrew Banks. His genuine enthusiasm to help business owners achieve success in every aspect of their businesses is apparent when you consider the quantity of time he’s dedicated his life to establishing two of the largest HR and recruitment companies in Australia that ultimately provide incredible benefits to everyone who is.
Andrew Banks may be a highly successful and multi-talented man however, it requires more than just talent to do what he can and create a foundation that is as strong as his. According to Banks himself, one requires energy and a goal to achieve success in the work one does.
“Money is not the primary goal of any good business.” The outcome is money. Do not start a business solely to make money, since it’s not enough. You need to be able to demonstrate a compelling reason and a solid business model, meet your customers’ requirements … And then the money will follow.” Andrew Banks. Andrew Banks.
Andrew Banks Networth
Andrew has an estimated net worth of $300 million dollars as of 2022. This includes his assets, money, and income. His primary source of income is his career as a businessman and film producer. Through his various sources of income, Andrew has been able to accumulate good fortune but prefers to lead a modest lifestyle.
How old is Andrew Banks?
Andrew Banks is 70 Years old as of 2022.
What is the Net Worth of Andrew Banks?
He has an estimated $300 Million net worth as an Entrepreneur and a film producer.
What is the Nationality of Andrew Banks?
He was born in England, so he has English-Australian Nationality.