Very few businesses in Australia can claim a history as rich and enduring as Washington H. Soul Pattinson. Founded in 1872 as a single pharmacy, it has since evolved into a diversified investment powerhouse, yet remarkably, it has remained a family-led enterprise for over 150 years. As the second-oldest ASX-listed company, Soul Patts has not only weathered world wars, economic depressions, financial crises, and evolving industry landscapes—it has thrived. It stands as a rare example of a business that has successfully balanced tradition with transformation, consistently delivering strong returns across multiple generations including this year earning the title 'Dividend Aristocrat' - a title afforded to a company that has grown its dividend every year for 25 years.
At the centre of this extraordinary journey is our guest today, Robert Millner. A direct descendant of the original founders, Rob has been on the board of WHSP since 1984 and Chairman since 1998, overseeing the company’s transition from its pharmaceutical roots to one of Australia’s most respected and diversified investment houses. Under his leadership, WHSP has expanded into telecommunications, energy, financial services, and beyond, all while maintaining its reputation for patience, discipline, and long-term value creation. Known for his pragmatic approach and contrarian investment philosophy, Robert has guided WHSP through multiple market cycles, making bold decisions that have positioned the company as a steady and strategic force in Australian business.
In today’s episode, we explore the remarkable history of Soul Patts, Rob's approach to leadership and investment, and how the company has built a reputation for resilience and strategic foresight.
We’ll also discuss WHSP’s bold investment moves, its role in shaping corporate Australia, and Robert’s insights on long-term investing and navigating economic uncertainty. We hope you enjoy