Richard Pratt, billionaire owner of the Visy paper and packaging empire, is gravely ill.
Federal Victorian Labor MP Bill Shorten, a close friend of the family, told ABC Radio that he met with the Pratt family on Monday night and says Pratt is in a serious condition, although he would not specify the reasons for Pratt's illness.
"It is terrible to see a great person gravely ill," Shorten said. "He is a great Australian."
Pratt has battled prostate cancer in recent years, and it is believed that his condition has worsened considerably in recent weeks. Pratt is said to be resting at his home in the Melbourne suburb of Kew.
In recent years, Pratt has faced a number of legal battles on top of his health problems. In 2007, Pratt and two other senior executives confessed to illegally fixing the prices of cardboard boxes with Visy's major Australian rival Amcor.
Last year the Australian Competition and Consumer Commission bought criminal charges against Pratt, alleging he provided false or misleading evidence during the ACCC's cartel probe.
Last March, he voluntarily handed in his Companion and Officer of the Order of Australia medals. He also gave up his presidency of the Carlton Football Club, instead standing aside until the criminal charges were resolved.
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