[1] Rae was born in Mundijong, Western Australia on 27 October 1931 to parents Robert and Edith, both of whom were nurses.
[1] Upon leaving school, Rae studied at Leederville Technical College, and apprenticed as a carpenter.
[1] Rae married Norma Catherin Dowding on 29 November 1962,[2] and they had a daughter Jill and son Nicholas.
It was during the early expansion of Gull Petroleum when two of the founds Keith Mitchell & Mark Quackenbush were looking to take over Gingers Roadhouse that they met the real state agent Fred Rea.
[3] Following value and supply disputes with the local Kwinana Oil Refinery, Rae began importing fuel from Singapore in 1993.