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These are the richest people in Australia in 2022 - featured image
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These are the richest people in Australia in 2022

The results are in... these are the richest people in Australia in 2022.

This year the total wealth of the AFR Rich List soared to past half a trillion dollars, with Gina Rinehart topping the 2022 Financial Review Rich List for a third consecutive year.

To qualify for this year’s list, you needed at least $629 million.

It’s a record cut-off point and almost doubles the $342 million needed to make it only five years ago.

Rich List 2022As usual, Australia’s wealthiest people are a snapshot of the same economic ups and downs as the rest of us in this turbulent and inflationary post-pandemic era.

Most Rich Listers live in NSW (79), followed by Victoria (60) and Queensland (19).

Many are industrialists and in the tech sector, but as always many of the Rich Lister made their money in property.

And if they didn't start in property, they funnelled their business profits into property.

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Harry Triguboff, the 89-year-old founder of Meriton, increased his wealth by almost $4 billion to $21.25 billion.

Perth industrial landholders Michael Hodgson and Bob Ell, both major industrial property players, each enjoyed big jumps in their values – Hodgson is now worth $3.08 billion, up from $2.34 billion and Ell, worth $2.42 billion, is up from $1.98 billion.

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No shortcut to early retirement

For those thinking getting rich is a pathway to early retirement, think again.

All but a handful still actively work in the businesses that have generated their wealth.

The average age of a Rich Lister is 67.7, up from 66 last year.

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About Michael is a director of Metropole Property Strategists who help their clients grow, protect and pass on their wealth through independent, unbiased property advice and advocacy. He's once again been voted Australia's leading property investment adviser and one of Australia's 50 most influential Thought Leaders. His opinions are regularly featured in the media. Visit Metropole.com.au
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