NRL legend Adam MacDougall has officially joined the ranks of Australia’s wealthiest individuals for the second time, appearing on The List: Australia’s Richest 250 in 2025 with an estimated fortune of $650million.
The two-time NRL premiership winner made his debut on the list in 2024 and has continued to grow his business empire through his nutrition company, Cranky Health.
MacDougall, who played for the Newcastle Knights, South Sydney Rabbitohs, and Sydney Roosters, was known for his aggressive and uncompromising style.
The former winger and centre represented both New South Wales and Australia 11 times each and was part of Newcastle’s grand final victories in 1997 and 2001.
However, his greatest victory has come in the business world.
After retiring from rugby league in 2011, MacDougall pursued studies in business and economics at Newcastle University.
Adam MacDougall has been named in Australia’s top 250 richest people for the second time, the only footy player to make the list
It comes after the Newcastle Knights great created a nutrition empire, starting with the iconic weight loss drink The Man Shake
A hands-on businessman, MacDougall continues to lead Cranky Health’s expansion efforts both locally and abroad
He earned a Master of Business Administration, a Bachelor of Economics, and a Master of Business Coaching while still playing professionally.
This foundation in business helped him transition smoothly from the sports field to the corporate world.
His entrepreneurial journey began with investments in mining and real estate before he co-founded a sports equipment company with his wife, Belinda.
The business grew to employ over 120 people before they sold their stake. It was during this time that MacDougall identified a widespread issue – many Australian men struggled with maintaining their health due to busy lifestyles.
‘The corporate-type people I was bumping into were too busy to look after themselves,’ he told The Newcastle Herald in 2013.
‘Whilst a lot of these guys were making good money, they weren’t eating right or getting enough exercise. The more I looked into it, the more I realised men’s [poor] health had become an epidemic.’
Determined to find a solution, MacDougall collaborated with a food scientist, a nutritionist, and a doctor to create a weight-loss product tailored for busy men.
After extensive research and development, he launched The Man Shake, a meal replacement product designed to help Australians lose weight and improve their health.
MacDougall’s stunning success saw him purchase a $7.375million mansion (pictured)
The former NRL star helped secure premierships in 1997 and 2001 before turning his focus to business
News Corp reported in 2016 that MacDougall had invested everything he had to get the company off the ground, spending $250,000 on product testing and focus groups.
‘I started making my own shakes,’ he said.
‘I was putting all this stuff in them – fibre, flaxseed, green tea, whey – and I suppose it was a bit cumbersome.
‘Then I spoke to a food scientist, a nutritionist, and a doctor and got some ideas. I was passionate about being active and living a healthy lifestyle, and that’s how I came to create the Man Shake.’
What began as a small online business quickly grew into a national success.
The Man Shake secured deals with local chemists before expanding to major pharmacy and supermarket chains.
The company later introduced additional products, including The Lady Shake and The Kids Shake, catering to a broader market.
In 2022, private equity firm Pacific Equity Partners (PEP) made a significant $400million investment in MacDougall’s business, valuing the company at about $200million before their acquisition.
The Man Shake, Lady Shake, and Kids Shake have become household names in Australian weight loss and nutrition (MacDougall is pictured with TV star Sophie Monk)
The move solidified Cranky Health’s position in the health and nutrition industry.
‘This is a real rags-to-riches story,’ MacDougall told News Corp at the time.
‘I started this business in my garage with my wife, and to have a company like PEP choosing to invest in us is fantastic.
‘I won’t deny we have done pretty well financially out of it. But we remain fully invested in the business and will still be working in it every day.’
With PEP’s backing, MacDougall now has his sights set on international expansion.
The investment firm has a strong track record in managing consumer products, with stakes in businesses such as Manuka Health and Patties Foods, the parent company of Four’N Twenty pies.
Beyond Cranky Health, MacDougall has continued making strategic investments. In 2024, he injected $1.6million into ASX-listed company HITIQ, which produces smart mouthguards that track head impacts.
He provided the funding through a convertible note, allowing him to increase his stake in the business while helping it expand its manufacturing and sales capabilities.
The husband-and-wife team built their nutrition brand from the ground up, starting in their garage – and now they’re reaping the rewards
MacDougall’s wealth has also allowed him to make significant personal investments and donations.
In 2017 he made a $100k donation to the Mark Hughes Foundation for brain cancer research, awareness and support.
In 2022, he purchased a $7.3million property from his former Newcastle Knights teammate Paul Harragon.
The Lake Macquarie home, which had been owned by Harragon for over 30 years, offers stunning views of Dudley Beach and sits on nearly nine square kilometres of land.
In 2023, he donated $100,000 to help former NRL coach Daniel Anderson adjust to life as a quadriplegic.
The 2025 edition of The List: Australia’s Richest 250 revealed that 30 individuals under 45 made the cut, including 20 billionaires, with many fortunes built in the tech industry.
Despite the rise of young entrepreneurs, property remains the dominant wealth generator in Australia.
This article was originally published by a www.dailymail.co.uk . Read the Original article here. .