Son of Australia's richest man, Kerry Packer (65). In my opinion, James (35) still has some way to go before he can step into his father's footsteps.

First came the collapse of One.Tel, the last company James was involved with, in May 2001. Bloody disaster. This stint cost his dad a cool US$150m+. That said, James keeps my respect as an entrepreneur ... he tried and failed.

But now, James is rumored to be involved with the Church of Scientology. According to a story in the Sydney Morning Herald, "James Packer is receiving instruction from an elite order in the Church of Scientology.". Tom Cruise apparentely got him interested in it after he was a little depressed after the One.Tel disaster.

I have no respect for Scientology. I think James should donate the money he pays to that church, to charity instead.