Youngest Aussie billionaire bankrupt

SYDNEY: Australian self-made coal baron Nathan Tinkler has gone from being the nation’s youngest billionaire to officially bankrupt in just five years, capping a dramatic fall from grace after he failed to appeal a court order.

Tinkler, a larger-than-life character who spent millions on sporting clubs and horse racing, making enemies along the way, apologised Thursday to creditors and his family, while telling a newspaper that “I can hear the champagne corks popping in the background”.