Save Log in , register or subscribe to save articles for later. Save articles for later Add articles to your saved list and come back to them any time. Got it Normal text size Larger text size Very large text size Melbourne property developer and funds management king Paul Chiodo was knocking on the door of billionaire status.
In just a few years, the South Melbourne Football Club director’s business – Chiodo Corporation – rose from a suburban property developer knocking out solid and well sold small-to-medium sized builds to a major property player. Using flashy Instagram posts of project renders and media campaigns, Chiodo Corporation touted itself as one of the best developers of opulent, high-priced resorts in desirable locales such as Port Douglas and K’Gari (Fraser Island) as well as Fiji and Venice. Chiodo also ran a successful Melbourne-based funds management empire through Keystone Asset Management and CF Capital.
In 2023 alone, the empire’s Shield Master Fund raised $326 million from thousands of investors for investments in ASX companies and unlisted assets such as property and debt instruments. Asked in a 2021 interview where his ambitious dreams came from, Chiodo replied: “To be perfectly honest, I got bored five years ago just doing the traditional rat race developments. We just wanted to do something really different.
” Chiodo and Keystone are now subject of an investigation by the corporate watchdog, which has taken Federal Court action to protect.