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David Gonski
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David Michael Gonski AC (born 1953) is an Australian public figure, corporate lawyer, and businessman. He is best known for his recommendations on funding schools in Australia, in a document known as the Gonski Report (or first Gonski Report), following a review commissioned by Julia Gillard, then Minister for Education in the Rudd Government in 2010, published in November 2011. He also chaired a second panel, commissioned by Turnbull government in 2017, to make recommendations on how school funding should be used to improve school performance and student outcomes, referred to as Gonski 2.0, with the second report being published in 2018. He has also held a large number of positions leading boards in different types of organisations – governmental, commercial, and not-for-profit or philanthropic organisations. Most notably, he has chaired the boards of the Australian Government Future Fund and ANZ Banking Group and been president of the Art Gallery of New South Wales. Since 2005 and as of March 2025, he has been Chancellor of the University of New South Wales.

Key Information

Early life and education

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David Michael Gonski[1] was born in Cape Town, South Africa, in 1953.[2] As a child, his family migrated to Australia in 1961 in the wake of the Sharpeville massacre.[3] His father, Alexander (Alec) Gonski (1919–2006),[4] was a neurosurgeon, and a founding member of The Coast Golf Club at Little Bay, New South Wales. His mother is Hélène. Gonski said that one of his earliest recollections was his mother buying a lithograph by Australian artist Charles Blackman, and said that it was her influence led to his love for Australian art. Gonski is Jewish.[5]

He attended Sydney Grammar School, where he excelled in debating, and Malcolm Turnbull was in his debating team.

He graduated with a Bachelor of Commerce degree and a Bachelor of Laws degree from the University of New South Wales (UNSW).[2]

Career

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In 2010, Gonski described himself as a "corporate lawyer-merchant banker".[5]

Solicitor

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Gonski practised as a solicitor with the firm of Freehills from 1977 to 1986, becoming their youngest ever partner at age 25, before leaving to co-found an investment bank. While at Freehills, he taught intellectual property law for the Faculty of Law at the University of New South Wales.[5]

Business

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He established a corporate advisory firm, Wentworth Associates Pty Ltd,[6] which was acquired by Investec Bank in March 2001.[7]

Gonski's business background is extensive, and in 2012 it was estimated that he sat on more than 40 boards.[3]

He had two stints at ANZ Bank: as non-executive director of between 2001 and 2007, and then chair from 2014[6] to 2020.[citation needed] Between 2008 and 2012 he was chair of the board of ASX Limited.[8][6]

He also served as chair at Barrenjoey Capital Partners; Ingeus Limited; Swiss Re Life and Health Australia Limited;[citation needed] and Investec Bank (Australia) Limited.[9] He was chairman of Morgan Stanley Australia Limited, and remained a consultant after quitting the leadership position.[10]

He was chairman of the advisory board of Transfield Holdings[11] (the private holding company of Transfield Services); and a non-executive director of Singapore Airlines.[12]

His previous roles have included non-executive director of John Fairfax Holdings (between 1993 and 2005);[13] Westfield Group (between 1985 and 2011);[14] Consolidated Press; non-executive director and chair of Coca-Cola Amatil (1997 to 2017);[15][16] and ING Australia.[5]

Not all of Gonski's efforts have yielded strong results. During the mid-1980s on Gonski's advice, Frank Lowy established Westfield Capital Corporation with Gonski as an advisor. WCC invested in the predecessor of Ten Network Holdings that eventually resulted in Westfield losing several hundred million dollars.[5]

In August 2022, Gonski was appointed chair of new retirement living provider Levande by EQT Infrastructure, following the acquisition of Stockland Group's 58 villages across New South Wales, Victoria, Queensland, South Australia, and the Australian Capital Territory.[17]

On 30 October 2023, Federal Treasurer Jim Chalmers appointed Gonski to the Competition Taskforce Advisory Panel, which has been established to advise the Treasury on national competition policy.[18]

Government and education

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During 1996 and 1997, Gonski undertook a Review of Commonwealth assistance to the film industry.[10] He was also a member of the committee appointed in 1998–99 to conduct an inquiry into the major performing arts sector (the Nugent Review,[10] after Helen Nugent.[19]) He became chair of Film Australia (a forerunner of Screen Australia) in 1997.[10]

In 1999, Gonski was appointed as a director to the UNSW Foundation. He became chancellor of the University of New South Wales and a member of the council of the university in 2005 and in 2007 became chair of the UNSW Foundation.[20] Gonski is the first alumnus of the University of New South Wales to hold the position of chancellor at that university.[21]

He was chairman of the National e-Health Transition Authority, a statutory authority of the Australian Government;[22] Gonski was a non-executive director of Infrastructure NSW, an agency of the New South Wales Government, and a member of the nomination panel for appointments to the boards of the Australian Broadcasting Corporation and Special Broadcasting Service.[citation needed]

He was chair of the Australia Council for the Arts between 2002 and 2006,[20][10] and of the board of trustees of Sydney Grammar School between 2003 and 2010.[20][23]

Amid some controversy,[further explanation needed] Gonski succeeded David Murray as independent non-executive chairman of the Australian Government Future Fund on 3 April 2012.[3][24][25][26]

Gonski Review and Reports

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In April 2010, Gonski was commissioned by Julia Gillard, then Minister for Education in the Rudd Government, to be chairman of the Review of the Funding of Schools in Australia. The findings and recommendations of the committee were presented to the government in November 2011, whereafter deliberations were entered into by the federal and state governments to consider its content. The committee's report is known as the Gonski Report.[27][28][29] The review is also referred to as the Gonski Review of School Education[16] (and, later, Gonski 1.0 or first Gonski Report). Subsequently, the proposed reforms (an increase in funding) became known as "Gonski" and supporters urged governments to "Give a Gonski".[16] The report was removed from the website by the incoming government after the 2013 federal election and is preserved by Australia's Pandora Archive.[30][31]

In 2017 the Turnbull government commissioned Gonski to chair an independent panel,[32] called the Review to Achieve Educational Excellence in Australian Schools, to examine evidence and make recommendations on how school funding should be used to improve school performance and student outcomes. This report, referred to as Gonski 2.0,[33] was published on 30 April 2018.[34]

The 10-year anniversary of the Gonski report in May 2022 led to criticism of successive state governments failure to implement its recommendations.[35] Finally, by March 2025, all states and territories signed signed on to a new school funding agreement with the Albanese government (after the previous agreement had expired in 2024[36]), which lifts federal funding of public schools to 25 per cent from 20 per cent.[37] Under the new agreement, states are required to increase their funding of public schools to 75 per cent of the minimum amount recommended by the two Gonski reviews, per Gonski's "Schooling Resource Standard" (SRS).[38][39] This means that they will be "fully funded" according to the Gonski model.[36] Gonski said in an interview that the news was "very, very pleasing".[39]

Other activities

[edit]

Gonski has headed many boards of a variety of types of organisations,[16] and has donated hundreds of thousands of dollars to arts institutions, as well as motivating other philanthropists to contribute to the arts.[5]

He was president of the Art Gallery of New South Wales (AGNSW) from 1997[20][10] until 2006 and again from 2016[citation needed] until he stepped down in December 2024.[40] As of March 2025 he is a member of AGNSW's Major Patrons Committee for the Sydney Modern Project.[41]

In 2008 Gonski interviewed Cate Blanchett and Andrew Upton,[5] who were co-artistic directors of the Sydney Theatre Company (STC) from 2008,[42] at two events. A few months later he heard from Ian Darling, the outgoing chair of STC, who offered him the chairmanship, and he was appointed in February 2010.[5][43] As of 2015 he was still chairman of the STC.[16] He also chaired the board of the National Institute of Dramatic Art.[20]

In 2010 he was involved with Philanthropy Australia and the Australia-Israel Chamber of Commerce.[5]

As of 2020 he was patron of Raise Foundation,[44] and as of March 2025 he is patron of the Australian World Orchestra[45] and the Australian Indigenous Education Foundation.[46][47]

He served on the board of St Vincent's Hospital, Sydney (until 1991),[10] and became chairman of the Bundanon Trust in 1995.[48]

Recognition and honours

[edit]

In 2002, Gonski was appointed an Officer of the Order of Australia (AO) for service to the community through Australian visual and performing arts organisations, through the development of government policy, and through the promotion of corporate sponsorship for the arts and for charitable organisations.[1]

He received the Centenary Medal in 2003.[49]

In 2007 Gonski was invested as a Companion of the Order of Australia (AC) for service to the arts through charitable support and the development of policy initiatives, to business and commerce as a company director, to education, and to the community through a range of philanthropic endeavours.[50]

In 2008, The Sydney Morning Herald described Gonski as "one of the country's best-connected businessmen" and dubbed him "Mr Networks" for being "arguably Sydney's most networked man".[51][52] A profile in 2010 by Australian author and Herald columnist Malcolm Knox said that Gonski is "a quiet man, in some ways invisible, and cleaves to the shadows."[3][5]

In 2012 artist Paul Newton painted a full-length portrait of Gonski, which he donated to the National Portrait Gallery in Canberra.[53]

In October 2012, the Rotary Club of Sydney presented him with its Vocational Service Award for 2012, "particularly because embedded in his life as a family man and public figure are ideals central to the Rotary movement".[2]

In 2013, Gonski was ranked No. 19 on The Sovereign Wealth Fund Institute's "Public Investor 100",[54] and in 2018 named third in the top five most powerful people in Australian education by the Australian Financial Review.[55]

In 2015, Gonski received an Doctor of Laws from the University of Wollongong.[16]

On 28 May 2024, Gonski was awarded an honorary Doctor of Business degree at the University of Sydney, "for his outstanding and visionary leadership, exceptional contribution to the business community and to education, and for his support of the arts".[47]

Gonski is a life fellow of the Australian Institute of Company Directors and a fellow of CPA Australia.[citation needed]

At the University of New South Wales, Law Theatre G02 is named the Gonski Levy Theatre in his honour.[citation needed]

Personal life

[edit]

Gonski married Boston-born dermatologist Orli Wargon,[10] a medical professional who is of Polish descent. They have three children.[5]

Gonski's mentor was Kim Santow.[5] He was a close friend and advisor to the media baron Kerry Packer. He persuaded Packer to provide funds for the building program at Belvoir St Theatre, where Gonski's wife Orli Wargon was a board member. Together with Lloyd Williams, he was an executor of Packer's estate.[5]

He has also had connections with Rupert Murdoch, Kerry Stokes, and Frank Lowy.[3]

Gonski has long been a lover of theatre and art, and was a subscriber to the Sydney Theatre Company for around 28 years before being invited to become its chairman.[5]

References

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[edit]
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David Gonski

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David Gonski AC (born 1953) is an Australian business leader, lawyer, and philanthropist renowned for his extensive board chairmanships and advisory roles in finance, education, and the arts. Born in , , Gonski migrated with his family to in 1961, attended , and graduated from the before qualifying as a and co-founding an investment bank. His career highlights include chairing the ANZ Banking Group, the Australian Securities Exchange, , and the , as well as serving as Chancellor of the for two decades until 2025. Gonski gained national prominence leading the 2011 government review of school funding, known as the Gonski Review, which recommended needs-based allocations but faced criticism and incomplete implementation by subsequent administrations. He has also contributed to , including roles with and headspace, and holds the presidency of the Art Gallery of Trust.

Early life and education

Childhood and family background

David Gonski was born in , , in 1953 to () Gonski, a Polish-born neurosurgeon (1919–2006), and Helene Gonski (née Blume), a South African kindergarten teacher from a prosperous family. The couple, who married in 1952, raised four children: David, sister Lisa (born 1955), and brothers Peter and Stephen (both born 1959). The Gonskis were a Jewish family; Alexander Gonski, trained in Poland and later in where he mentored prominent surgeons including , emphasized scientific rigor and pursuits like , while Helene's Orthodox paternal grandfather, a Lithuanian businessman, maintained traditional religious practices such as daily . In 1961, when David was seven years old, the family emigrated to amid post-Sharpeville uncertainties in , settling in where Alexander established a neurosurgical practice and became a founding member of The Coast Golf Club at Little Bay. This migration exposed the young Gonski to a new cultural environment, though family influences from art and intellectual pursuits remained strong from an early age.

Academic and early professional pursuits

Gonski attended following his family's migration from to in 1961. He enrolled at the in 1972, shortly after the establishment of its law school, and completed a alongside a , receiving the University Medal in law for academic excellence. Upon admission as a solicitor, Gonski joined the Sydney-based Freehills (then Freehill Hollingdale & Page) in 1977, focusing on work. By 1978, at age 25, he had advanced to partnership, the youngest in the firm's history, attracting major corporate clients such as through his expertise. He remained a partner until 1986, building a reputation for client advisory in high-stakes transactions.

Professional career

Gonski commenced his legal career in 1977 as a solicitor at the Sydney-based firm Freehills, now known as Herbert Smith Freehills following mergers. He specialized in corporate advisory work, leveraging his dual qualifications in commerce and law from the . By 1978, at the age of 25, Gonski was elevated to partner, becoming the youngest in the firm's history at that time—a milestone reflecting his early aptitude for commercial legal matters. This rapid advancement positioned him to handle high-profile transactions, building expertise in mergers, acquisitions, and that informed his later transitions into . Gonski remained with Freehills until 1986, during which period he contributed to the firm's growth in corporate practice amid Australia's evolving regulatory landscape post-1970s economic reforms. In 1986, he departed the partnership to co-found an investment bank, marking the end of his primary legal practice phase while retaining a foundation in legal acumen for subsequent board and advisory roles.

Business investments and leadership

After qualifying as a lawyer, Gonski co-founded the boutique corporate advisory firm Wentworth Associates Pty Ltd in October 1987 with former Freehills partner Richard Longes, focusing on advice. The firm provided services, positioning Gonski as a key player in Australian corporate transactions during the late and . In March 2001, Investec Bank acquired Wentworth Associates for an undisclosed sum, integrating it into Australia Limited and rebranding it as Investec Wentworth, where Gonski served as chairman. This acquisition expanded Investec's presence in Australian , with the entity specializing in advisory services for M&A and capital raisings under Gonski's leadership. Gonski later took on the role of non-executive chairman at Barrenjoey Capital Partners Group, a founded on September 21, 2020, which competes in equity capital markets, debt advisory, and M&A. His involvement has supported Barrenjoey's growth as an independent firm targeting mid-market deals in .

Key board directorships and corporate roles

David Gonski has served as a and chairman across several major corporations, particularly in banking, , and sectors, earning him a reputation as a prolific board leader. His tenure as chairman of & Banking Group (ANZ) spanned from May 1, 2014, to late 2020, following his initial board appointment in February 2014; during this period, he oversaw the bank's strategic responses to regulatory and economic challenges in the region. Gonski chaired ASX Limited from 2008 to 2012, a role in which he navigated the exchange's operational expansions and governance amid growing market scrutiny. In the consumer goods sector, he led as chairman for approximately 16 years until 2017, guiding the company through shifts in beverage consumption trends and corporate restructuring. Gonski established and chaired Investec Bank (Australia) Limited after his advisory firm Wentworth Associates was acquired by , focusing on and mergers in the Australian market. Among his current roles, Gonski serves as non-executive chairman of Barrenjoey Capital Partners Group Holdings Pty Limited, an investment bank specializing in advisory and capital markets services. He has been independent chair of Corporation Limited since August 2022, providing oversight during its transition to new ownership and infrastructure developments. Additionally, Gonski holds the position of non-executive chair at Levande Pty Ltd, a living and aged care provider emphasizing community-focused developments.
RoleOrganizationTenure
ChairmanANZ Banking Group2014–2020
ChairmanASX Limited2008–2012
Chairman Limited2001–2017
Chairman Bank (Australia) LimitedPost-acquisition of Wentworth Associates (exact dates vary by source)
Non-Executive ChairmanBarrenjoey Capital Partners GroupCurrent (as of 2025)
Independent Chair Corporation LimitedSince August 2022
Non-Executive ChairLevande Pty LtdCurrent (as of 2025)

Public service and policy involvement

Government appointments and reviews

In March 2012, Treasurer announced the appointment of Gonski as Chairman of the Board of Guardians of the Australian Government , Australia's established to underwrite future public sector superannuation liabilities. Gonski succeeded David Murray effective April 3, 2012, on a five-year term, bringing his expertise in and to oversee the fund's $73 billion in assets at the time. The selection process drew criticism for alleged leaks and procedural irregularities, with outgoing chairman Murray reportedly unaware of the decision until publicly announced, prompting defenses from Finance Minister who emphasized Gonski's qualifications. Gonski resigned from the role in January 2014 to chair ANZ Banking Group, less than two years into his term. On October 30, 2023, Treasurer Jim Chalmers appointed Gonski as a part-time member of the Competition Taskforce Expert Advisory Panel, tasked with providing independent advice on strengthening Australia's competition laws and policies amid concerns over market concentration and productivity. The panel, comprising experts in economics, law, and business, supports a two-year rolling review led by the Treasury to recommend reforms enhancing consumer welfare and economic dynamism. Gonski's involvement leverages his extensive board experience, alongside members including former ACCC chair Rod Sims. He was reappointed on September 26, 2025, with his term extending to April 2, 2027.

The Gonski Review on school funding

In April 2010, the Australian Government commissioned the Review of Funding for Schooling to examine the funding arrangements for Australian schools and recommend a sustainable funding model that promotes high-quality schooling for all students. The review was chaired by David Gonski AC, with an expert panel including business leaders, educators, and economists, and involved extensive consultations, over 400 submissions, and analysis of international practices. The final , released on 20 December 2011, spanned 39 recommendations and emphasized that Australia's existing funding model—primarily based on the Socio-Economic Status (SES) formula introduced in 2001—failed to adequately address student needs or ensure equitable outcomes across public, private, and independent schools. The panel identified key shortcomings in the status quo, including opaque that did not correlate strongly with educational performance and perpetuated disparities, particularly for disadvantaged in low-SES areas, remote locations, or those with disabilities, Indigenous backgrounds, or non-English speaking proficiency. Drawing on evidence from national and international data, such as results showing Australia's declining performance relative to peers, the review argued for a shift to a needs-based, sector-blind funding where resources follow requirements rather than institutional type or historical allocations. This approach aimed to eliminate the result of differences in educational outcomes being attributable to the school attended, prioritizing evidence of what drives effective teaching and learning. Central to the recommendations was the establishment of a Schooling Resource Standard (SRS), comprising a base per-student amount adjusted annually for cost changes (e.g., teacher salaries, ), supplemented by targeted loadings for specific needs: 25% extra for low , 5% for support, up to 14.1% for students with (tiered by severity), and additional factors for Indigenous students (5%), small or remote schools (up to 40%), and low-income communities. The panel proposed that total public reach at least 95% of the SRS for government schools and 80% for non-government schools, with states and the Commonwealth sharing responsibility proportionally, alongside requirements for transparency in private contributions and independent oversight to monitor outcomes. These measures were projected to require an additional AU$5 billion annually by 2020 to close resource gaps, funded through efficiency savings and targeted increases rather than across-the-board rises. The review underscored the causal link between adequate, flexibly deployable resources—especially for high-quality —and improved student achievement, citing empirical studies showing that needs-based investments yield better returns than uniform distributions. It rejected politically driven sector protections, advocating instead for accountability mechanisms like national reporting on resource use tied to performance metrics, to ensure funds translate into measurable gains in , , and equity. While the Gonski-led panel's work laid the groundwork for subsequent reforms, including initial SRS implementation from 2014, full adoption of its sector-neutral model faced political resistance, with later adjustments preserving some SES elements.

Subsequent educational and economic reports

In 2017, the Australian Government under Prime Minister commissioned David Gonski to chair an independent panel for the Review to Achieve Educational Excellence in Australian Schools, building on concerns over declining international student performance rankings since 2000. The panel, comprising experts from various states, school sectors, and systems, delivered its report titled Through Growth to Achievement on 30 April 2018. The review diagnosed systemic issues, including an outdated "industrial model" of schooling that prioritized uniformity over individual student needs, leading to underperformance for many while failing to challenge high-achievers. Key recommendations centered on fostering continuous improvement through five interconnected actions: enhancing assessment of student growth to better track progress beyond snapshots like NAPLAN tests; prioritizing evidence-based, high-impact teaching practices; strengthening school leadership and teacher development; cultivating positive, inclusive school cultures; and strategically allocating resources to high-needs areas such as disadvantaged students and STEM capabilities. The panel advocated for innovation, including pathways and national consistency in curriculum delivery, while cautioning against over-reliance on alone without structural reforms. It projected that implementing these changes could reverse Australia's slide in global benchmarks like , where reading, maths, and science scores had fallen by 20-30 points since 2000. The report explicitly tied educational enhancements to economic outcomes, arguing that improved student capabilities in , , and would boost and , potentially adding billions to GDP through higher participation rates and reduced skill gaps. Gonski's panel referenced Productivity Commission analyses indicating that each additional year of schooling correlates with 8-10% higher lifetime earnings and broader societal returns via reduced . However, implementation has been partial, with subsequent governments adopting elements like targeted but facing criticism for insufficient focus on and metrics. No major standalone economic reports chaired by Gonski post-2011 Gonski Review were identified beyond advisory roles, such as his membership on the 2023 Competition Review Expert Advisory Panel, which examined policies to enhance market competition and productivity but was led by others. The educational reviews under Gonski consistently framed reforms in causal terms: superior schooling causally drives economic resilience by equipping students for a , rather than viewing education merely as a tool.

Philanthropy and cultural engagements

Support for arts and institutions

Gonski has held prominent leadership positions in several Australian arts organizations. He served as president of the Art Gallery of Trust for 19 years until December 2024, overseeing its operations and strategic direction. He also chaired the from February 2010, the around 1990, and the Australia Council for the Arts until 2006. Additional roles included chairing Film Australia and , extending his influence to film and performing arts sectors. Under his presidency at the Art Gallery of , Gonski played a key role in advancing major infrastructure projects. He secured approval in 2016 for the $344 million Sydney Modern expansion, Australia's largest cultural initiative since the , and facilitated raising $100 million from private philanthropists through a public-private partnership model that ensured completion on time and within budget by December 2022. This approach, which mobilized 's affluent donors, later influenced similar efforts at the . Gonski has personally contributed to arts acquisitions and endowments. Alongside his wife Orli Wargon, he was a founding donor for the Indigenous Yiribana Gallery at the and supported the 2004 purchase of Cy Twombly's triptych Three Studies from the Temeraire for approximately $4.5 million. He has donated hundreds of thousands of dollars to the gallery and maintained long-term support for the as a subscriber for over 27 years, while leveraging his networks to encourage corporate and individual philanthropy across Sydney's cultural landscape.

Educational and charitable initiatives

David Gonski established the Gonski Foundation, a family philanthropic entity focused on advancing equitable education opportunities. The foundation has provided substantial funding for equity-based scholarships at the (UNSW), where Gonski serves as , enabling students from disadvantaged backgrounds to access higher education without financial barriers determined by . In 2020, amid the , the foundation contributed to UNSW's Student Emergency Response Fund (SERF), offering grants and vouchers for essentials like and to domestic and international students demonstrating financial need. As chair of Australian Schools Plus, a charity founded in 2013 to channel private philanthropy toward disadvantaged public schools, Gonski has directed efforts to supplement government funding with targeted interventions. The organization supports programs addressing educational inequality, such as after-school life skills training and recognition of effective educators in under-resourced areas. In 2016, Gonski led the Pioneers in Philanthropy initiative under Schools Plus, securing $5.25 million over five years from donors including Kerry Stokes, John B. Fairfax, and Nick Fairfax to fund approximately 75 projects in clusters of low-income schools, alongside a national teaching awards and fellowship program partnered with the Commonwealth Bank. Gonski emphasized that such private contributions complement, rather than substitute for, public funding, stating that governments cannot address every need alone. Schools Plus, under Gonski's leadership, has continued to mobilize resources for vulnerable students, including a 2025 partnership with the Foundation investing $4.7 million in programs for remote Indigenous children, building on earlier backing to enhance outcomes in isolated communities. Gonski's charitable approach prioritizes measurable impact on student success, drawing from his advocacy for integrating into systemic education reforms to mitigate disadvantage without relying solely on taxpayer resources.

Controversies and criticisms

Corporate and appointment disputes

In 2012, David Gonski's appointment as independent non-executive chairman of the Australian Government's , valued at approximately A$73 billion, sparked significant controversy over the selection process. Critics, including former Treasurer and the opposition, argued that the Labor government under bypassed proper consultation with the Fund's board and ignored established succession principles, effectively interfering in the leadership transition by appointing Gonski without board endorsement. The government defended the decision, asserting Gonski's qualifications in finance and investment outweighed procedural concerns, while accusing Costello of hypocrisy given his own past roles. Future Fund board members expressed frustration over the lack of involvement, highlighting risks to the Fund's independence and merit-based governance. Gonski's tenure as chairman of ANZ Banking Group from 2014 to 2020 also drew criticisms amid regulatory scandals, including a A$50 million fine in 2017 for manipulating bank bill swap rates (BBSW). Detractors alleged the bank under Gonski's leadership engaged in payments to settle claims and failed to fully disclose issues, with a 2020 claiming inadequate for past . Gonski attributed the BBSW issues to isolated "rogue" actions rather than systemic failures, emphasizing strengthened compliance measures thereafter. In , he publicly admitted ANZ's shortcomings in transparency, particularly regarding an internal of lapses, amid from regulators and shareholders to release withheld reports. As chairman of the Art Gallery of New South Wales from 2006 to 2017, Gonski faced backlash over the 2017 decision to renew director Michael Brand's contract for only one year instead of five, amid disputes over strategic direction and budget management. Stakeholders criticized the board's handling as abrupt and lacking transparency, contributing to perceptions of internal discord that delayed the gallery's expansion relative to peers like the . Gonski maintained the choice reflected a deliberate assessment of performance against institutional goals, denying personal bias. Broader critiques of Gonski's extensive board portfolio, spanning over 20 directorships including successive roles at ANZ and the , raised concerns about potential conflicts of interest and divided attention. A 2012 parliamentary flagged risks from overlapping advisory and corporate positions, though Gonski complied with disclosure rules without formal sanctions. Despite such episodes, defenders portrayed him as resilient to , with no legal findings of in these roles.

Critiques of the Gonski funding model

Critics of the Gonski funding model, introduced following the 2011 Review of Funding for Schooling chaired by David Gonski, argue that it has failed to improve educational outcomes despite substantial increases in public expenditure. Between 2012 and 2022, total government funding for Australian schools rose by 43%, yet performance in the OECD's (PISA) declined by 3% across key domains. Australian students' PISA scores in , reading, and have shown a steady downward trend since the early , with no reversal attributable to the model's adoption. Economists such as Professor have highlighted the absence of a robust causal link between additional funding and student achievement, noting that international evidence reveals high-spending countries often underperform compared to lower-spending peers. Implementation shortfalls have compounded these issues, with successive federal governments deviating from the model's needs-based Schooling Resource Standard (SRS). Public schools have consistently received funding at 91% or less of the SRS target, extending at least until 2029, while political agreements preserved elevated funding for non-government schools, undermining the equity rationale. Experts including former principals and policy analysts attribute widened performance gaps between disadvantaged and privileged students to these compromises, with socio-economic disparities in achievement persisting or intensifying post-2011. Surveys of 143 public school principals conducted in 2023 revealed 92% agreement that their schools remain underfunded, citing chronic budget shortfalls that force reductions in essential programs for student wellbeing and infrastructure. Methodological critiques further question the model's foundations, particularly the evidence base for "disadvantage loadings" intended to target . Ergas and others contend that the overstated the impact of concentrated disadvantage on performance, lacking data showing a non-linear decline in outcomes with rising disadvantage levels, which weakens justification for variable loadings. The resulting system has produced 27 distinct funding formulas across jurisdictions, fostering inefficiency and opacity rather than a unified national approach. These factors, combined with unregulated revenue streams that exacerbate inequities—such as private enrollment rising to 36% nationally by 2023—have led analysts to argue the model entrenches sectoral divides without delivering verifiable gains.

Recognition and legacy

Awards and honors

Gonski was appointed an Officer of the (AO) on 10 June 2002 for service to business and the community through corporate governance roles and contributions to the arts. In 2003, he received the recognising his contributions to Australian society through philanthropy and business leadership. On 11 June 2007, he was advanced to Companion of the (AC) in the for distinguished service to the visual and as a philanthropist and administrator, to business and commerce through executive roles, and to the community via educational and charitable initiatives. Gonski has received several honorary degrees. On 28 May 2024, the conferred upon him the degree of Doctor of Business (honoris causa) in recognition of his visionary leadership, exceptional contributions to , and philanthropic impact on Australian society. The awarded him a Doctor of Laws (honoris causa) for his , , and support for higher education. In recent years, Gonski has been honoured for his sustained corporate and institutional leadership. He received the Lifetime Achievement Award at the UNSW Sydney Alumni Awards on 23 October 2025, acknowledging his decades-long service as and enduring contributions to the university and broader society. Additionally, on 29 May 2025, he was awarded the Lifetime Achievement prize in the inaugural Financial Review BOSS Director Awards for over two decades of influence in Australian boardrooms and .

Long-term impact and assessments

Gonski's 2011 Review of Funding for Schooling recommended a needs-based, sector-blind funding model to address inequities in Australian education outcomes, influencing the subsequent Schooling Resource Standard that sets base funding levels adjusted for student needs. However, a decade later, assessments indicate the model failed to significantly improve results for disadvantaged students, with public schools receiving disproportionate shortfalls despite overall funding increases to record levels. International benchmarks show a 20-year decline in Australian student performance, attributing limited impact to political dilutions and inadequate implementation rather than the review's core principles. In , Gonski's long-term influence stems from chairing over 50 boards, including major institutions like ANZ Banking Group and the , where he emphasized and board diversity, mentoring directors and fostering standards that persist in Australian boardrooms. Assessments highlight his role in elevating amid stakeholder pressures, extending beyond profitability to community expectations, though critics note his appointments sometimes prioritized networks over pure merit. Philanthropically, Gonski pioneered structured giving through his family foundation and advocacy for collective philanthropy, contributing to , , and social impact initiatives that have sustained institutional support, such as at the where he served as chancellor for two decades until 2025. His legacy here is assessed as enduring in promoting long-term societal investments, though measurable outcomes in remain contested due to funding execution gaps.

Personal life

Family and personal relationships

Gonski married dermatologist Orli Wargon, who practices under the name Orli Gonski. The couple has three children, including at least one daughter who trained as a doctor. Gonski has described maintaining a close family network encompassing his children, parents, brothers, sister, and his wife's relatives. In personal pursuits, Gonski has expressed enjoyment in watching his adult daughter's hockey matches, despite limited understanding of the sport, and he regularly plays . His early family life was shaped by his father, a brain surgeon, whose and professional circle influenced Gonski's . The family immigrated to from when Gonski was young, prioritizing a society emphasizing respect and dignity.

Political and philosophical views

David Gonski has publicly emphasized a commitment to , advocating for needs-based school funding to address socioeconomic disparities and provide equal opportunities regardless of background. In his 2011 review commissioned by the Australian Labor government, he recommended a system prioritizing student needs over sector-based allocations, arguing that differences in educational outcomes should not stem from funding inequities. This approach reflects a philosophical belief in as a mechanism for , with Gonski describing himself as an "educated businessman who believes fervently in ." Gonski has consistently avoided explicit partisan political engagement, declining to comment on Australian or U.S. and focusing instead on institutional and long-term societal contributions. Companies under his chairmanship, such as ANZ and , have made donations to both major parties—ANZ contributed $150,000 each to Labor and the Liberals in 2016-17, which Gonski defended as supporting democratic processes—indicating a pragmatic, non-aligned stance rather than ideological allegiance. On broader philosophical matters, Gonski has expressed strong opposition to , stating a belief in the "equality of human beings" and abhorrence of discriminatory practices. His involvement in Jewish community events, including an anti-Semitism summit in September 2025 where he highlighted threats to social harmony from division, underscores concerns about cultural cohesion and tolerance in multicultural societies. Gonski has also defended figures like Premier against religious bias critiques, praising his while noting conservative social positions, suggesting a tolerance for ideological diversity within effective . In philanthropy, Gonski prioritizes charity as a means to foster fairness, particularly in , , and , though critics argue this approach favors voluntary giving over enforceable rights-based systems. He advocates deep, independent thinking in and , viewing success as rooted in reflective rather than rote processes, which informs his emphasis on institutional responsibility.

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