Larry Kestelman net worth emerges from entrepreneurship. He is an Australian businessman and investor. He is the Executive Group Chairman of LK Group, an Australian investment group, and the Executive Director of Australasia’s National Basketball League (NBL). 

Larry Kestelman net worth 

The estimated Larry Kestelman net worth is A$1.36 billion, according to AFR. Ownership of Dodo telecommunications service and later selling it for A$204 million, being he majority owner of NBL, property development business and his holding company, LK Group, account for his billionaire status net worth. 

Occupation overview 

Larry Kestelman business empire covers technology, telecommunications, property development, private equity, retail, hospitality and professional sports. 

He has spent more than three decades creating and expanding businesses through the Melbourne-based LK Group, a family office that oversees nearly 20 companies with operations across Australia, the United States, India, the Philippines and the Dominican Republic.  

His entrepreneurial journey began with property investments before expanding into telecommunications, technology, business outsourcing and large-scale commercial ventures. 

Dodo 

Larry Kestelman achieved national prominence after co-founding telecommunications provider Dodo in 2001 alongside Michael Slepoy and Igor Gilenko. Under his leadership, Dodo became one of Australia’s fastest-growing internet and utility providers by offering simple, fixed-price plans and unlimited downloads. 

Despite regulatory challenges involving misleading advertising that resulted in customer compensation and compliance measures, the company continued to grow rapidly, generating around A$80 million in revenue by 2005.  

Dodo was eventually sold to M2 Group in 2014 for approximately A$204 million. 

Real estate 

Alongside his telecommunications ventures, Larry Kestelman steadily expanded his property portfolio. Beginning with residential subdivisions and townhouse developments, he progressed to major apartment projects before launching Capitol Grand in South Yarra.  

The A$800 million mixed-use development became one of Melbourne’s landmark luxury residential towers and the tallest building outside the city’s central business district at the time.  

LK Group 

Through LK Property, Larry Kestelman also completed projects including Opus, Barkly Place, Church Street Brighton, and additional commercial acquisitions. 

He significantly diversified his investments through the LK Group and its private equity division, Queens Lane Capital, established in 2017.  

The investment arm has acquired or invested in major Australian businesses including Petra Industries, PAS Group, Brand Collective, Daniel’s Donuts, and Hypnos Group, which includes brands such as Snooze, Future Sleep, and G&G Furniture.  

The group has also expanded into hospitality with award-winning venues including Yugen Dining and Omnia, while technology and business services businesses such as Acquire AI, Acquire BPO, Oxygen Ventures, Saisei, InfoChoice, and several software companies have strengthened its presence across multiple industries.  

NBL 

One of Larry Kestelman’s most influential achievements has been the revival of Australian basketball. After acquiring the Melbourne Tigers in 2012 and rebranding the club as Melbourne United in 2014, he secured a 51 percent stake in the National Basketball League (NBL) in 2015 when the competition faced significant financial difficulties.  

He later increased his ownership to 94 percent and led a comprehensive transformation of the league through new broadcasting agreements, digital modernization, commercial expansion and stronger branding.  

During his tenure, the Brisbane Bullets returned to the league, while South East Melbourne Phoenix and the Tasmania JackJumpers were established as expansion franchises.  

The NBL also expanded into competitions such as NBL1 and 3×3 Hustle, renovated major venues, and in 2024 formed a consortium to acquire a majority interest in the Women’s National Basketball League (WNBL).  

His leadership has been credited with delivering record attendances, higher television audiences and renewed international interest in Australian basketball. 

Community inntiatives 

Beyond business, Larry Kestelman has also supported community initiatives through the Larita Academy, which helps at-risk young people access employment, entrepreneurship, and personal development opportunities.  

He has also been recognized for supporting numerous charitable and community programs. 

Conclusion on Larry Kestelman net worth 

In conclusion, Larry Kestelman’s wealth has been generated through multiple sources, including the successful sale of Dodo, extensive property developments led by Capitol Grand, ownership and investments through the LK Group, private equity holdings managed by Queens Lane Capital, technology and outsourcing businesses such as Acquire AI and Acquire BPO, retail and consumer brands, hospitality ventures, and the commercial growth and increased value of the National Basketball League under his ownership. 

Featured image: Larry Kestelman on nbl.com.au