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How Many Billionaires Are There in Australia? - featured image
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How Many Billionaires Are There in Australia?

key takeaways

Key takeaways

Australians make up 47 of the world's richest people, according to Forbes' latest list of 2558 billionaires.

Billionaires in the mining, software and manufacturing industries continue to feature heavily on the list, but retail, casino, investment, construction, and real estate businessmen and women also feature.

No matter how much money they have, there is one thing that all these billionaires have in common… they’re good with their money.

According to Forbes' list of 2500+ billionaires, 47 Australians are among the richest people in the world.

Who is the richest person in Australia?

Mining magnate Gina Rinehart has once again achieved the title of Australia's richest person, with a net wealth of $30.3 billion so see her sits in 51st place on the world’s richest list, according to Forbes real-time data.

The 68-year-old built her wealth on iron ore after rebuilding her late father’s financially distressed company Hancock Prospecting and is also Australia’s second-largest cattle producer.

By the way, her youngest daughter Ginia Rinehart is also in the 29th place on the world's list of billionaires.

The richest people in Australia in 2024

Forbes’ real-time data shows that as of February 2024, there are 46 Australian billionaires on the list of the world’s wealthiest people.

 

Name Net Worth Global Rank Age Industry
1 Gina Rinehart $30.3 B 51 70 Mining
2 Andrew Forrest & family $20.2 B 94 62 Mining
3 Harry Triguboff $16.3 B 108 90 Real estate
4 Mike Cannon-Brookes $13.2 B 144 44 Software
5 Scott Farquhar $13.0 B 146 44 Software
6 Anthony Pratt $10.5 B 195 63 Manufacturing
7 Richard White $6.7 B 396 68 Software
8 Frank Lowy $6.5 B 419 93 Investments
9 Kerry Stokes $6.4 B 426 83 Construction equipment, media
10 Vivek Chaand Sehgal $4.7 B 619 67 Auto parts
11 Cliff Obrecht $4.4 B 668 38 Software
12 Melanie Perkins $4.4 B 668 36 Software
13 Clive Palmer $4.2 B 704 69 Mining
14 John Gandel $3.5 B 882 89 Shopping malls
15 Jack Cowin $3.3 B 936 81 Fast food
16 Lindsay Fox $2.9 B 1086 86 Logistics, real estate
17 James Packer $2.8 B 1127 56 Investments
18 Michael Hintze $2.7 B 1167 70 Investment
19 Fiona Geminder $2.5 B 1258 59 Manufacturing
20 Solomon Lew $2.3 B 1361 78 Retail
21 Alan Wilson $2.3 B 1378 83 Retailing
22 Bruce Wilson $2.3 B 1378 77 Retailing
23 John Wilson $2.3 B 1378 86 Retailing
24 Bob Ell $2.3 B 1385 79 Real estate
25 Cameron Adams $2.2 B 1415 44 Software
26 Brett Blundy $2.1 B 1472 64 Retail, agribusiness
27 Gerry Harvey $2.0 B 1510 84 Retail
28 John Hancock $2.0 B 1515 48 Mining
29 Ginia Rinehart $2.0 B 1522 37 Mining
30 Bianca Rinehart $2.0 B 1528 46 Mining
31 Hope Welker $2.0 B 1528 38 Mining
32 Heloise Pratt $2.0 B 1564 61 Manufacturing, investment
33 Terry Snow $1.7 B 1727 80 Airports, real estate
34 David Teoh $1.7 B 1744 68 Telecom
35 Gretel Packer $1.7 B 1804 57 Investments
36 Anthony Hall $1.6 B 1825 68 Technology
37 Sam Hupert $1.6 B 1854 69 Technology
38 John Van Lieshout $1.5 B 1940 78 Real estate
39 Michael Heine $1.5 B 1977 74 Financial services
40 Chris Wallin $1.4 B 2026 71 Mining
41 Bruce Mathieson $1.3 B 2158 80 Hotels
42 Angela Bennett $1.3 B 2217 79 Mining
43 Sam Tarascio $1.2 B 2249 79 Real estate
44 Nigel Austin $1.2 B 2269 53 Retail
45 Manny Stul $1.1 B 2378 74 Toys
46 Chris Ellison $1.0 B 2489 66 Mining

Source: Forbes, February 2024

Billionaires in the mining, software and manufacturing industries continue to feature heavily on the list, but retail, casino, investment, construction, and real estate businessmen and women also feature.

The second person on the Australian list is Andrew Forrest, with 20.2 billion which puts him in 94th place in the global ranking.

The 60-year-old businessman founded Fortescue Metals Group and invests in many sustainable energy projects.

In third place is real estate mogul Harry Triguboff with a $16.3 billion net worth, putting him in 108th place on the global ranking

4th and 5th are co-founders of software company Atlassian - Mike Cannon-Brookes and Scott Farquhar whose $13.2 billion and $13 billion net worths see them placed in 144th and 146th places on the Forbes global rich list.

Anthony Pratt - executive chairman of Australia's biggest private company Visy Industries - a packaging and recycling business - takes 5th place in Australia’s top 5 richest billionaires thanks to his $10.5 billion fortune putting him as the 105th richest person on the planet.

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Note: No matter how much money they have, there is one thing that all these billionaires have in common… they’re good with their money.

What can we learn from these billionaires?

No matter how much money they have, there is one thing that all these billionaires have in common… they’re good with their money.

At Metropole, we truly believe that the key to building wealth and financial success for you is through property investment.

But not just any property - it needs to be the RIGHT property in the RIGHT location.

And I don’t just mean the one that appeals to you.

It’s what we call investment grade.

As always, quality far supersedes quantity so focus on putting your hard-earned money into the right property rather than buying as many as you can.

It’s important to have the right guidance and help on your side to make sure you avoid making any of the classic property investment mistakes along the way.

Ultra Rich

After all, the objective for property investors is to find investment-grade properties in investment-grade suburbs, regardless of the latest hotspot data.

That’s areas and properties which hold their value over the long term, rather than benefit from an uptick in demand.

But even before looking for the right location, make sure you have a Strategic Property Plan to steer you through the upcoming challenging times our property markets will encounter.

Aside from remembering that you should focus your efforts on investment-grade properties and locations, you also need to remember that property investing is a process, not an event.

That means that things have to be done in the right order – and selecting the location and the right property in that location comes right at the end of the process.

And that’s because what makes a great investment property for me, is not likely to be the same as what would suit your investment needs.

About Brett Warren is National Director of Metropole Properties and uses his two decades of property investment experience to advise clients how to grow, protect and pass on their wealth through strategic property advice.
4 comments

There are Gina and Ginia. Ginia is her daughter.

0 replies

Gina at #1 and #28?

0 replies

Brett, you missed Michael Yardney's name off that list

1 reply
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