Australian Treasurer Josh Frydenberg Facing Possible Election Loss to Climate Action Independent

Josh Frydenberg, Treasurer of Australia, with his family at the polling booth in Melbourne, Australia, on May 21, 2022. Naomi Rahim/Getty Images

Treasurer Josh Frydenberg has all but conceded he will lose the blue-ribbon seat of Kooyong to independent Monique Ryan.

Frydenberg suffered a swing against him in excess of 10 percent, with more than half of votes counted in the inner-east Melbourne seat late on Saturday.