Gina Rinehart is still Australia’s richest despite losing $5.99 billion from her estimated wealth from mining over the last 12 months, according to the 2015 BRW Rich 200 list being released tomorrow.
BRW estimates Rinehart’s worth fell to $14.02 billion because of the sharp decline by about 60% in the price of iron ore.
The top five in this year’s rich list:
Anthony Pratt and family are in second spot after a $3.02 billion rise in wealth. It has been a big 12 months for the family with the US-based business, Pratt Industries, the biggest Australian-owned employer in America.
Property developer Harry Triguboff had the biggest rise in wealth on the list, $4.73 billion, bringing his total wealth to $10.23 billion. He’s been helped along by a hot real estate market, especially Sydney.
Fourth is Frank Lowy who has grown his wealth by $700 million after the restructure of Westfield was backed by the sharemarket. His total wealth is $7.84 billion.
Hui Wing Mau, a Hong-Kong based billionaire, is fifth. Hui went to the the University of South Australia in the early 1990s to get an MBA and has Australian citizenship. His Shimao Property Holdings has extensive projects in China and also holds Sydney CBD office property.
There number of billionaires on the list has grown to a record 49.
Among the billionaires are Mike Cannon-Brookes and Scott Farquhar, both aged 35, the founders of software company Atlassian, worth a combined $2.27 billion.
Among those suffering a fall in wealth are Andrew Twiggy Forrest and James Packer.
Packer’s wealth fell in line with a drop in the share price for his Crown Resorts casino and entertainment group. He is in seventh place with $6.08 billion, down from $7.19 billion a year ago.
Like Gina Rinehart, Forrest’s wealth is tied to iron ore. The value of shares in Fortescue Metals Group have fallen in the past year, causing Forrest’s wealth to drop to $2.83 billion from $5.86 billion. He’s ninth on the list.
Property is where the most money is made. Of the 200 on the list, 53 make most of their money in real estate.
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