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Read Full BioVGW owner Laurence Escalante is notably absent from Forbes Australia’s top 50 richest list as the Perth-based entrepreneur faces charges that could cost him his fortune earned through the gaming company.
Escalante’s net worth is estimated at around AU$4.5 billion ($3.18 billion), which puts him at number 35 on the Australian Financial Review’s richest list last year. Forbes, however, has not included him in its list this year.
The list does contain other wealthy gambling figures, including Stake owners Ed Craven and Bijan Tehrani, who come in at numbers 46 and 47, with estimated fortunes of $1.5 and $1.45 billion, respectively.
Former Crown owner James Packer is at number 22 with a net worth of $3.55 billion, ahead of Aristocrat founder Len Ainsworth at 23. The slot developer and his family are estimated to be worth $3.5 billion. Escalante should, in theory, not be far behind with a worth of $3.18 billion, putting him at number 26.
Escalante Faces Multiple Criminal Charges
It appears Escalante’s omission is a result of the way Forbes compiles the list, based on publicly available financial reports, which VGW may not always be forthcoming with, rather than a judgment on his potential ruin. He also did not feature in the 2025 list.
His fortune is, however, at risk of being depleted. He has been removed as CEO of VGW after being arrested on assault, theft, and drug charges.
The director of public prosecutions is mulling a bid for freezing orders over Escalante’s assets, which range from lavish homes and a $120 million custom private jet to a sports-car collection.
Prosecutors opposed his bail, citing his wealth, which could be used to escape or quash the charges. The police prosecutor told the court, “He has the means to be able to offer financial gain for these parties to change their stories or drop the charges.”
The 44-year-old was, however, granted bail set at $100,000, which came with the condition that he does not contact his 24-year-old ex-girlfriend, who accuses him of abuse throughout their 12-month relationship.
New Details of Escalante Abuse Emerge
New details of the incident that led to Escalante’s arrest have emerged, with the Australian Financial Review citing court documents that show his ex-girlfriend was sleeping while the billionaire sent her a message saying, “I’m coming now”.
He then appeared at her apartment, pushed past her, grabbed her hair, and made his way to her bedroom, where the pair became engaged in a scuffle on the floor.
After breaking free of her grasp, the woman claims Escalante began raiding her wardrobe and demanded the return of $350,000 worth of luxury items he had gifted her over their 12-month relationship.
The woman, who has not been publicly named, then says Escalante struck her in the face, causing her to fall to the floor and sustain a graze and bruising to her chin and lower body.
He then locked himself in the room and took a pair of scissors to a $66,000 leather Hermes handbag before fleeing the premises.
Three days later, police searched his apartment, finding items his ex claims he stole from her, including a $25,000 Rolex, Cartier bracelets, and a pair of diamond earrings. They also found 12.2 grams of ketamine, 18 grams of MDMA, and more than 30 grams of cocaine.
He now faces eight charges, including burglary, assault, and three counts of drug possession with intent to sell or supply. He is next due to appear in court on February 26.
