You’re probably part of Australia’s new inheritocracy
Inheritance is changing the Rich List, but also changing Australia, possibly for the worse.
A quarter of the Rich List derived their wealth from inheritance, reflecting a wider shift as Australians start to transfer a staggering $5.4 trillion to the next generation. Bethany Rae
It’s 25 years since I worked on my first Rich List, but my little ritual hasn’t changed. Each year, when the new edition is published, I turn not towards the top of the list, but to the bottom.
The Rich List is a living, breathing thing, and the debutants that join the list each year keep it fresh and vital, and help us understand how Australian business is changing. The stunning arrival this year of infrastructure investor Mike Dorrell, ranked seventh with a fortune of $13.9 billion is a case in point, as are the debuts of entrepreneurs from sectors such as retail, critical minerals and manufacturing.
James ThomsonColumnistJames Thomson is senior Chanticleer columnist based in Melbourne. He was the Companies editor and editor of BRW Magazine. Connect with James on Twitter. Email James at j.thomson@afr.com
