Low-voltage lives

From: Sydney Morning Herald

By Andrew Hornery

Malcolm Young is a familiar face to the shopkeepers of East Balmain, especially at Christmas time. Locals describe him as a down-to-earth sort of a bloke with more than just a passing interest in rock’n'roll.

Yet not many of Young’s neighbours could boast a fortune estimated at $125 million, nor could they claim to be a co-founder of one of the most successful rock bands: AC/DC. But Young would rather not talk about his private life. He and his bandmates including his brother Angus like to fly below the fame radar. Unlike Australia’s other great cultural exports, the Youngs live out of the spotlight, slipping in and out of Sydney with little fanfare – although their Sydney homes are a giveaway.

When in Sydney, Malcolm and his wife, O’Linda, with their son and daughter, live in a handsome sandstone mansion named Oncaparinga, which sits elegantly behind an impressive stone wall and overlooks its tennis court and swimming pool. The property is one of the largest in Balmain, taking up most of the block it sits on. Estate agents estimate it would be worth up to $15 million.

Angus Young, who has no children and his own $125 million fortune, has an impressive home at Kangaroo Point, although it pales next to his much larger pile in the Dutch town of Aalten, which was completed last year and has been the talk of the town because of its enormous scale. Aalten is the home town of Young’s wife of 26 years, Ellen.

Last week BRW magazine listed AC/DC as Australia’s eighth highest earning entertainers, raking in $12 million to June 30. In the 12 years BRW has been doing the list, AC/DC has earned $198.5 million and that does not include the millions made in the 23 years before BRW began monitoring its fortunes.

AC/DC has sold more than 200 million albums worldwide, including 69 million in the United States. The album Back In Black, released in 1980, has sold 42 million copies alone. Next month AC/DC releases its first album since 2000. It is expected to sell in the millions, driven by a mammoth 18-month world tour.

Since its inception AC/DC has been with the Sydney label Alberts Music. As AC/DC’s fortunes grew, so did that of the Albert family, which owns the label. BRW last listed the Albert family fortune at more than $200 million, much of it from royalties from the AC/DC catalogue.

A talent-spotter for Alberts, Sam Horsburgh, said: “You won’t see Angus or Malcolm written about in gossip magazines … it’s just not their style. They are very regular people and lead very normal lives off stage.”

Horsburgh also happens to be Angus and Malcolm Young’s nephew.

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