Anthony Pratt has knocked James Packer down a peg on the Forbes Australia rich list.
Pratt came in at number two, bumping Packer down to third place.
This means the only person in Australia richer than Pratt — a cardboard heir — is Gina Rinehart, according to Forbes.
He went from seventh place — the biggest rise on the list — after his family fortune grew 36% in the last year. This puts his estimated worth at around $7 billion.
Other notable changes included:
- Clive Palmer, who lost a staggering $44,000 an hour over the past year, as his financial fortune plummeted by 40% to $631 million from $1.02 billion a year ago.
The head of the Palmer United Party has barely held on to his rank on Forbes’ Australia Rich List falling from 31 to 50.
- Media and mining equipment mogul Kerry Stokes also fell down the list from 16th to 13th with his estimated worth of $1.8 billion.
His fortune took a 20% hit to $1.8 billion after demand for his Caterpillar trucks dropped, causing his rank to slip from 13th to 16th place.
- Frank Lowy, co-founder of Westfield, dropped from 4th to 6th place with a net worth of $5.3 billion.
- Fortescue Metals Group founder Andrew “Twiggy” Forrest kept fifth spot with a $5.7 billion fortune.
- Glencore Xstrata chief executive Ivan Glasenberg took 4th place with wealth of $7.2 billion.
Read more here.
NOW WATCH: Briefing videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.