Over the past few weeks, billionaire businessman James Packer has cut ties with a whopping 22 of his Australian company directorships. According to original reports from ABC, corporate records have shown an almost complete retreat from public business in his home country.

It began in March, when the entrepreneur left the board of his major casino network, Crown Resorts. Then in June, he left his private company Consolidated Press Holdings (CPH). Several other of his business ventures have been dissolved since.

Following a failed expansion deal with Crown Resorts and a highly publicized break-up with singer Mariah Carey, Packer has been making a swift exit from Australian business.

"The changes are largely administrative in nature and reflect attempts to modernise and simplify the corporate structures," a spokesman for Packer stated.

However, reports from other board members cited mental illness as the cause. "Mr Packer is suffering from mental health issues. At this time he intends to step back from all commitments," according to ABC. 

Packer's net worth has been estimated by Forbes to be roughly $4.1 billion.