Charlie Teo's Start-up Secures $20M

Controversial neurosurgeon Dr. Charlie Teo, who faces restrictions on performing surgery in Australia, remains a significant shareholder in Omniscient Neurotechnology, a brain-mapping start-up he co-founded.

Earlier this year, the federal government's $15 billion National Reconstruction Fund invested $20 million in Omniscient Neurotechnology.

The company plans to open a "connectomics centre of excellence" in Sydney within the next five years.

Teo served as a director for two years before stepping down in September 2021, around the time his surgical restrictions were imposed. He holds shares in the company valued at approximately $13.6 million through his holding company, Teo Nominees Pty Ltd.

Past investors in Omniscient Neurotechnology include billionaire Gina Rinehart, hedge fund manager Will Vicars, philanthropists Gretel Packer, and the Vincent Fairfax family.

According to the National Reconstruction Fund, extensive due diligence was conducted. They stated that Mr. Teo is a minority shareholder and is not involved in the company's management team, board of directors, or daily operations.

Pokies Baron Ends Company Car Perk

Len Ainsworth, 102, the founder of Aristocrat Leisure, no longer receives a company car from the firm.

This perk had been in place since his retirement from the company in 1994, providing him with a new vehicle approximately every five years.

The arrangement had furnished Ainsworth with a series of luxury vehicles, including Audis, Rolls-Royces, and Porsches.

Aristocrat chairman Neil Chatfield confirmed the termination of the benefit at the company's annual general meeting last week, stating the arrangement ended recently.

Google's Lobbying Activities in Australia

Google has disclosed a new working relationship with the lobbying firm SEC Newgate in Australia.

The tech giant maintains a substantial lobbying presence in Australia, utilizing firms such as Eloquium Group, Hawker Britton, and SEC Newgate.

This disclosure occurs amidst Google's navigation of several policy challenges in Australia. These include proposed legislation that would require Google, Meta, and TikTok to compensate local media companies for news content, the Labor government's teen social media ban, and impending regulations concerning artificial intelligence, an area where Google is a leading global player.