A $50 billion NDIS is proving too tempting for Australia’s rich-listers

April 22, 2026 — 5:00am

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As federal health minister Mark Butler prepares to announce the government’s latest attempts to reel in the extraordinary cost of Australia’s National Disability Insurance Scheme on Wednesday, preparations of a different sort are under way in financial markets.

Mable, an online marketplace for support workers, is reportedly exploring a potential stock market listing that could make it the first $1 billion company spawned by the $50 billion-odd scheme.

Founder Peter Scutt set up the business with a focus on finding a solution to the frustrating process of getting appropriate aged care for his parents, but business has clearly exploded with the NDIS and made the company very valuable.

As he told The Australian Financial Review in 2019, when professional investors and private equity started funding the business: “We are clearly a for-profit and for-purpose organisation.”

Investors then included the former boss of pokies manufacturer Aristocrat, Jamie Odell. He was soon joined by US private equity firm General Atlantic, which caters to wealthy US clients and also recently invested in Lebanese chicken chain El Jannah.

Another Mable co-owner is Ellerston Capital, which was set up by the Packer family to manage their........

© Brisbane Times