Entrepreneurs that have built companies based on innovative technology are now a regular feature on the annual BRW Rich List but this year’s instalment of the who’s who of wealthy Australians also shows traditional industries like selling cars are still highly lucrative.
Gina Rinehart has topped the Rich List again this year, making it four years running that the mining heiress has come out on top.
BRW estimates Rinehart’s wealth to be $14.02 billion. This compares to $20.01 billion in 2014.
But this year’s list was likely finalised before the verdict was yesterday handed down in Rinehart’s long-running legal case with two of her children, with Rinehart losing control of her family’s trust, which is estimated to be worth between $4-5 billion.
If that figure is factored into the Rich List rankings, Anthony Pratt and his family would move up from second place to take out the top spot, with estimated wealth of $10.76 billion.
Upon publication of this year’s list on Thursday afternoon, Rich List editor John Stensholt foresaw that Rinehart’s position at the top of the ladder could change pending the outcome of the court case. But he said Rinehart would still remain “among the richest handful of Australians” even if she is unsuccessful in appealing the decision.
One of the big movers this year is property developer Harry Triguboff, who has managed to almost double his wealth, from $5.5 billion to $10.23 billion, in 12 months, thanks in part to an exceptionally strong Sydney property market.
Former Smart50 winners and Atlassian founders Mike Cannon-Brookes and Scott Farquhar are still leading the tech charge on the Rich List, although their rankings have slipped since last year.
Cannon-Brookes has been ranked 42nd on this year’s list, with estimated wealth of $1.07 billion, while Farquhar is not far behind in 43rd spot, with estimated wealth of $1.06 billion.
David Greiner and Ben Richardson, founders of another local tech success story Campaign Monitor, have debuted on this year’s list, with estimated combined wealth of $500 million.
This places Greiner and Richardson, who created Campaign Monitor in 2004, at 106 and 107 on the list, respectively.
Also making his debut on the Rich List this year is Patrick Grove, founder of Catcha Group, the parent company of ASX-listed iProperty Group, iCar Asia and iBuy Group. Grove secured the last spot on this year’s list, with estimated wealth of $286 million.
Of the retailers on this list, Brett Blundy has secured the 44th place on the list with wealth of $1.09 billion, of the back of a successful float of jewellery chain Lovisa and ahead of a planned IPO of bedding and homewares business Adairs.
Catch Group founders Gabby and Hezi Leibovich are ranked 131 and 132 on the list, with estimated wealth of $432 million, while retail entrepreneur Ruslan Kogan has made the list for the second year running, coming in at 173 with wealth of $335 million, down from 162 last year.
There are 49 billionaires on this year’s list, compared to 39 on last year’s list, and the average wealth of the 200 people on the list is $974.7 million, up slightly on last year’s average of $968 million. There are 17 women on this year’s list, compared to 14 last year.
The 10 richest people in Australia according to BRW are:
1. Gina Rinehart – $14.02 billion
2. Anthony Pratt and family – $10.76 billion
3. Harry Triguboff – $10.23 billion
4. Frank Lowy – $7.84 billion
5. Hui Wing Mau – $6.89 billion
6. Ivan Glasenberg – $6.14 billion
7. James Packer – $6.08 billion
8. John Gandel – $4.40 billion
9. Andrew Forrest – $2.83 billion
10. Stan Perron – $2.65 billion.