BRW (Business Review Weekly) released their famous Rich List last week! Each year, the 200 richest people in Australia are released along with their over-sized fortunes. So if you’re already feeling bad about the size of your bank account, maybe this is where you should stop reading. Otherwise, grab the chocolate & the tissues, because I’m bringing you the Top 10 Richest People in Australia…
1. Gina Rinehart - $20.01 Billion
Rinehart is Chairman of Hancock Prospecting, a company that founded huge amounts of Iron Ore in the 1950’s in Western Australia. Rinehart inherited the company from her father and continues to develop and expand today. She is the only female in the Top 10 and more than doubles the fortune of Number Two!
2. Anthony Pratt - $7.64 Billion
Anthony and his sisters also inherited their father’s company, Visy, and made it more successful than ever. Visy is a box-maker and recycling business that commands the Australian recycling market. Anthony is also the owner of Pratt Industries, a US business, which has been growing at a huge 20% per year! Not too shabby Pratt, not too Shabby at all.
3. James Packer - $7.19 Billion
With Barangaroo on the way, Packer isn’t doing so badly. Not to mention multiple plans for development all over the world! No doubt by next year, Packer may see himself moving up the list. Poor guy.
4. Frank Lowy - $7.16 Billion
Going from working in a delicatessen to co-founding the Westfield Group wasn’t such a bad move for Mr. Lowy. At age 83, he ran Westfield for more than 50 years while now he remains chairman. I’m sure his retirement fund is looking voluptuous!
5. Ivan Glasenberg - $6.63 Billion
Chief Executive of Glencore Xstrata, one of the largest commodity trading & mining companies in the world.
6. Hui Wing Mau - $6.35 Billion
Executive director and major shareholder of Shimao Property Holdings, a Hong Kong based company. Apparently he invested in real estate in Australia in the 1990’s and somehow holds an Australian passport, details of which people seem to flurry over. Interesting.
7. Andrew Forrest - $5.86 Billion
Founder and non-executive chairman of Fortescue Metals Group. Goodness, it seems the mining industry is where the money is at! He founded the company in 2003 and in just 8 years is had become the fourth largest iron ore producer…in the world!
8. Harry Triguboff - $5.5 Billion
Founder of the property development company Meriton, which he still runs today. Starting out as a taxi driver & milkman before making his fortune in property.
9. John Gandel - $4.08 Billion
Gandel owns Chadstone Shopping Centre in Melbourne, the largest Centre in the Southern Hemisphere.
10. Kerr Neilson - $3.35 Billion
Co-founder and MD of Platinum Asset Management, who specialize in international equities. Apparently they do quite well for themselves.
Just remember: money doesn’t buy happiness. Much.