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‘Titanic man’ to enter politics

world Updated: Apr 29, 2013 00:29 IST
Matt Siegel
Matt Siegel
Highlight Story

An Australian billionaire who is perhaps best known for his efforts to build a seaworthy replica of the Titanic says he will use his vast fortune to form a new political party to compete in federal elections scheduled for September.

The tycoon, Clive Palmer, had been a major financial supporter of the conservative Liberal-National Party, from which he resigned last year amid quarrels about his political aspirations. Palmer says his newly minted United Australia Party, which he announced at a news conference on Friday, will be a challenger rather than a vanity project.

“I’m running to be the prime minister of Australia,” Palmer told reporters. “I am standing because I can offer better service to the community than anyone else.” Palmer owns considerable mining assets as well as a nickel refinery. NYT