Kevin Rudd has begun a lucrative return to the helm of the Asia Society after stepping down early from his role as Australia's ambassador to the United States. The former Prime Minister ended his Washington posting at the end of March, cutting short a term that was due to run until 2027. After a short break, he has re-entered the New York-based think tank which he previously led between 2020 and March 2023.
Salary and First Day
US tax filings from his last stint at the Asia Society show that Rudd was paid $503,422 USD in base remuneration in one year, plus a further $20,585 USD from linked entities. The total package of $524,007 USD equates to about $701,971.13 AUD at current exchange rates. Rudd wasted little time settling back into the role. 'First day on the job as President and CEO of the Asia Society,' he wrote on social media on Tuesday alongside a photo of him meeting with Canadian Prime Minister Mark Carney. Carney made a recent visit to Australia, where he met with Prime Minister Anthony Albanese and addressed Parliament. 'No better start than to meet with Prime Minister Mark Carney of Canada in Ottawa, who's just returned from a great visit Down Under,' Rudd said. 'Australia and Canada have an important role to play in today's changing world. And in Asia where we share common interests and common values.'
Asia Society Background
The Asia Society, founded in 1956 and headquartered in New York, positions itself as a global forum for policy, culture and business, with offices across Asia including Hong Kong, Tokyo and Mumbai. In recent years it has championed progressive causes such as climate action and diversity, alongside East-West economic co-operation. A fluent Mandarin speaker, Rudd has long branded himself as one of the West's leading authorities on China. During his previous tenure, he spearheaded major initiatives on US-China relations and climate policy, strengthening his standing as a prominent geopolitical voice.
Family Wealth and Property
Rudd's substantial salary sits alongside even greater wealth accumulated by his wife, Therese Rein, whose business success far eclipses her husband's public-sector earnings. Rein founded employment services firm Ingeus in 1989, initially trading as WorkDirections Australia. The company went on to secure major government contracts supporting injured and long-term unemployed Australians before expanding into overseas markets including the UK, France, Germany, Sweden, Poland, South Korea and Saudi Arabia. In 2014, Rein sold part of Ingeus to Providence Service Corporation for up to $225 million. A SmartCompany analysis at the time estimated she could personally have pocketed as much as $151 million from the deal.
The couple have also assembled an impressive property portfolio. In 2020, they acquired a designer $17 million mansion in Noosa with sweeping ocean views. The seven-bedroom estate was previously owned by Betty's Burgers & Concrete Co founders David and Louise Hales, who bought the property in 2018 for $15.2 million. The Rudds also once owned a five-bedroom, seven-bathroom riverfront 'sky home' in Brisbane's exclusive Admiralty Quays precinct, purchasing it for $8 million in 2016 from Star Hotel Group owner Steven Shoobridge.
Rein has further boosted her wealth through shrewd property deals, including a high-profile flip involving Australia's richest person, Gina Rinehart. In September 2021, Rein's investment company bought a 'classic beach cottage' at Sunshine Beach for $6.75 million. Less than six months later, the property was sold off-market to BV Investments, a Hancock Prospecting subsidiary controlled by Rinehart, for $9.75 million. The rapid turnaround delivered a $3 million profit, effectively earning around $500,000 for each month Rein held the property. The two-bedroom retreat sits on a 588-square-metre block and includes a narrow goat track leading directly down to the beach.
Early Exit from Ambassadorship
Rudd's early exit from the ambassadorial role followed renewed scrutiny after an uncomfortable exchange with US President Donald Trump during Albanese's October visit to Washington. Asked about Rudd's past criticisms, Trump replied bluntly: 'I don't like you either, and I probably never will.' Rudd responded awkwardly: 'I withdraw those statements.' Veteran diplomat Greg Moriarty has since been appointed Australia's ambassador to the United States. Moriarty previously served as international and national security adviser, and later chief of staff, to former prime minister Malcolm Turnbull, a choice widely viewed as designed to calm partisan tensions.
