Frank Timiș

Frank Timiș (born Vasile Frank Timiș, 1963) is a Romanian-Australian businessman living in London, with interests in mining and oil extraction industries. The Sunday Times Rich List estimated his wealth at £162m (U$238m) as of April 2008, making him the 497th richest person in Britain. The Romanian magazine Capital reckoned Timiș to be the 9th richest Romanian, estimating his wealth at $290m as of 2006. In 2012 he became the richest Romanian with a net worth of £1.34 billion (US$2.13 billion).

Early life

Born in Borșa, Maramureș County, he graduated from a vocational school for auto mechanics. He left Romania and settled as a refugee in Perth, Australia. Whilst in Australia he was convicted of possession of heroin with intent to supply and fined A$27,000.

Career

Companies in Australia

Timiș started his own transport company in Australia, which owned only one truck driven by himself. However, it went bankrupt in 1986 with debts of 15,806 AUD. According to Jurnalul Național, Timiș failed to declare this fact in the CV he published when he listed the company Gabriel Resources on the Toronto Stock Exchange, as required by law.