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Australia’s wealthiest 200 now control $625b

Australia’s wealthiest 200 now control $625b

Technology is back, resources rode a roller coaster and property growth returned, giving Australia’s Rich Listers an 11pc boost to their total fortune.

Yolanda Redrup and Michael Bailey
Updated
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Key Statistics

  • $624.9bTotal wealth ($563b in 2023)
  • 17Debutants and returnees
  • 41 (36 in 2023)Number of women
  • 67 (67.3 in 2023)Average age

The tech sector is off and racing once again, recovering from its fall from favour with investors in 2022, and accelerating its ascension towards mining as one of the top two industries behind the wealth of the richest 200 Australians.

The fortunes of the Rich 200 swelled 11 per cent to $624.9 billion in the past 12 months. Topping the Financial Review Rich List for the fifth year in a row is iron ore magnate Gina Rinehart, whose continued dominance reflects the strength of the resources sector; five of the top 10 fortunes are built on extraction.

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Yolanda Redrup
Yolanda RedrupRich List co-editorYolanda Redrup is the co-editor of the AFR Rich List. She previously reported on technology, healthcare and Street Talk. Connect with Yolanda on Twitter. Email Yolanda at yolanda.redrup@afr.com
Michael Bailey
Michael BaileyRich List co-editorMichael Bailey writes on arts and culture, and edits Weekend Fin. He is a former editor of the Financial Review Rich List. He is based in Sydney. Connect with Michael on Twitter. Email Michael at m.bailey@nine.com.au

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Original URL: https://www.afr.com/rich-list/australia-s-10-richest-people-revealed-20240521-p5jfe4