The top 10 billionaires on the BRW Rich List

Harry Triguboff. Scott Barbour/Getty Images

Property has overtaken mining as the biggest creator of wealth in Australia.

A property developer, Harry Triguboff, has taken the top spot on the BRW Rich 200 list from mining magnate Gina Rinehart.

Rinehart and fellow mining industry leader Andrew Forrest are still in the top ten richest but their fortunes have declined with falling prices of commodities.

On the other side of the coin, the property boom has enriched those holding land, including Triguboff.

Of the 200 people on the list, more than a quarter, 54, made most of their money in the property sector.

And many on the list who made money in other industries have since poured the proceeds into property development or management businesses.

Here the top 10 on the 2016 list:

Source: BRW

There are 53 billionaires among the 200 and the average wealth per person is $987 million, up from $974 million last year.

NOW READ: Developer Harry Triguboff has toppled Gina Rinehart as Australia’s richest person

* Disclosure: Allure Media, the publisher of Business Insider, is 100% owned by Fairfax Media, which also publishes BRW.

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