A young Australian who has racked up millions of views over his housing crisis videos has been slammed after it was revealed he was born into wealth.
Jack Toohey, 30, has drawn in millions of views to his TikTok videos as he commentates on the housing crisis gripping Australia.
He ignited a generation war between Boomers and Millennials after sharing a video on why it was harder to buy a property in 2023 than in 1983.
Mr Toohey struck a chord again with another video outlining his suggestions on how to fix the housing crisis that included a one per cent ‘housing levy’, scrapping capital gains, and making 60 per cent of Aussies live in affordable public housing.
One social media user lashed out claiming Mr Toohey had lived a life of privilege, was not an ‘average person’, and was in a ‘lucky situation’.
Mr Toohey is the son of a former Macquarie Bank executive, went to an exclusive high school, and lives in his parents’ $2.5million home.
He sold his Darlinghurst-based Sure Studios business and currently makes a living by DJing for a few hours on the weekend.
Mr Toohey hit back in a scathing Twitter post on Tuesday, insisting he had always acknowledged his ‘privileged’ upbringing.
Jack Toohey, 30, has drawn in millions of views to his TikTok videos as he commentates on the housing crisis gripping Australia
‘I am constantly checking my privilege and trying to use it to advocate for those less fortunate than I am,’ he wrote.
‘It’s a marvel to see the protection racket at work up close and literally personal.’
Mr Toohey took aim at media reports about his privileged upbringing, labelling them a ‘hit piece’.
‘I was lucky to go to a private school – that was not my choice. I’m using the position I’m in to advocate for people who are less privileged than me, and you cop s**t for it,’ he told news.com.au.
‘Would they rather me follow my dad’s path and work for Macquarie Bank? I don’t feel I really need to justify how much money I donate to charity or work I do in the community.’
Mr Toohey admitted he would have been homeless if he wasn’t able to stay at his parents’ house.
His father Glenn Toohey worked at the so-called ‘Millionaires’ Factory’ Macquarie Bank from 2001 to 2009.
He also worked for BT Financial Group and held other senior banking and executive positions, and owns a four-bedroom home on Sydney’s Lower North Shore, which is estimated to be worth $2.5million.
Mr Toohey attended the St Andrews Cathedral School, where in senior years the fees range from $34,000 to $38,000 per year.
On his social media account, Mr Toohey often speaks about how the economy is biased towards the wealthy, which he says is a result of ‘neoliberal reforms’ in the 1980s.
Mr Toohey recently sold his marketing content-creation business Sure Studios, which he ran for eight years, and says he only earns a small income from DJing on the weekends.
He has been offering his suggestions on how to address the future housing crisis in a a series of videos on TikTok.
Mr Toohey’s TikTok video on why it was easier to buy a house in 1983 than now garnered over five million views and led to a generational shouting match
Mr Toohey poses with his father Glenn Toohey, who has worked in senior banking and executive roles
In a social media post he said, ‘I’ve always felt at my best when I’ve been using my skills for good, so that’s the plan!’
Mr Toohey’s housing plan would impose a property owner levy, abolish capital gains tax concessions and negative gearing for the top 10 per cent, cap rents, limit investment properties to three, and compensate owners with negative equity.
The aim would be to put 60 per cent of residents into public housing for which they would pay no more than a quarter of their income.
These ideas have not gone down well with everyone.
‘This is communist propaganda,’ one person wrote in the comments.
‘You want to tax everyone to build and maintain apartments and then charge them another 20-25% of their income to live there.
‘So a single person working at Taco Bell earning 22.8k lives next door to someone who earns 100k + a year.’
‘You’re taking away the incentive to work hard or better yourself. You should only have the “right” to something if it doesn’t impose a burden on someone else.’
Mr Toohey doesn’t appear to be backing down and has filmed a number of videos with parliamentarians, including Labor MP Josh Burns, for the next video in his series, which he says will be about ‘revolution’.