Finance

BRW Rich List revealed: Property mogul Harry Triguboff takes top spot as tech stars continue their rise

Eloise Keating /

Harry Triguboff

Source: AAP Image/Meriton Group

Property mogul Harry Triguboff has appeared on the BRW Rich List for 33 years but this year is the first time the Meriton founder has topped the annual list of Australia’s wealthiest people.

With estimated wealth of $10.62 billion, Triguboff is also the first businessperson from the residential property market to take out first position in the history of the BRW list and only the second person across from the property industry overall, after Westfield’s Frank Lowy was ranked number one in 2010.

Lowy is placed third on this year’s list, with estimated wealth of $8.26 billion, following Anthony Pratt and family in second place with estimated wealth of $10.35 billion.

Trigobuff’s estimated wealth has increased from $10.23 billion this time last year, when he was third on the Rich List.

After topping the Rich List for four years running, Gina Rinehart has slipped three places to fourth on this year’s list, with her estimated wealth dropping to $6.06 billion from $14.02 billion on the 2015 list.

While continued declines in Australia’s resource sector have no doubt contributed to the drop, Rich List editor John Stensholt says changing family dynamics are also playing a part.

Gina Rinehart’s daughter Bianca Rinehart is one of 18 people to debut on the list this year, thanks to her 23% shareholding in Hancock Prospecting and her estimated wealth of $905 million.

Also among the other new faces on this year list is Gretel Packer, daughter to the late Kerry Packer, whose estimated wealth of $739 million comes in part from shareholdings in Crown Resorts and Consolidated Press Holdings.

The chief executive of one of the world’s largest toy brands, Moose Enterprise, has also debuted on this year’s Rich List at number 39.

Manny Stul was last year named Australian EY Entrepreneur of the Year and according to this year’s BRW Rich List, he and his family have estimated wealth of $1.24 billion.

Stul took over Moose Enterprise in 2000 and since that time, the business has grown from employing 10 people to more than 200. The company has annual revenue of more than $600 million.

Tech stars continue to rise

Atlassian co-founders Mike Cannon-Brookes and Scott Farquhar have continued their rise through the ranks of the Rich List, following the successful listing of Atlassian on the NASDAQ in 2015.

Cannon-Brookes has jumped to 18th spot on this year’s list, with estimated wealth of $2 billion. This compares to last year when he was ranked the 42nd wealthiest person in Australia, with estimated wealth of $1.07 billion.

Farquhar is not far behind, landing at number 21 on this year’s list, with estimated wealth of $1.97 billion. Last year, Farquhar was ranked 43rd on the Rich List with estimated wealth of $1.06 billion.

Catcha Group founder Patrick Grove has also jumped up through the rankings this year, moving from number 200 on last year’s list with estimated wealth of $286 million to 104 this year, with estimated wealth of $587 million.

David Greiner and Ben Richardson, founders of another local tech success story Campaign Monitor, have made the list for the second year running, with estimated combined wealth of $500 million.

Last year Greiner and Richardson were ranked 106 and 107 on the list, while this year’s their rankings have dropped slightly to 118 and 119.

The combined wealth of the 200 people on this year’s Rich List is $197.3 billion, which is a slight increase on last year’s total of $195.9 billion.

The 15 richest people in Australia according to BRW are:

1. Harry Triguboff – $10.62 billion

2. Anthony Pratt and family – $10.35 billion

3. Frank Lowy – $8.26 billion

4. Gina Rinehart – $6.06 billion

5. John Gandel – $5.40 billion

6. Hui Wing Mau – $5.39 billion

7. James Packer – $5 billion

8. Andrew Forrest – $3.33 billion

9. Ivan Glasenberg – $3.33 billion

10. and 11. David and Vicky Teoh – $3.08 billion

12. Stan Perron – $2.88 billion

13. Lindsay Fox – $2.49 billion

14. David Hains and family – $2.48 billion

15. Solomon Lew – $2.13 billion

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Eloise Keating

Eloise Keating is the editor of SmartCompany. Previously, Eloise was news editor at Books+Publishing, the trade press for the Australian book industry.