Australia’s richest person revealed
The top 10 richest Aussies have been revealed – and just how the billionaire at the top of the list grew their empire this year might surprise you.
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Gina Rinehart has continued her reign as Australia’s wealthiest person, topping the Financial Review’s Rich List for the fifth year in a row following her expansion into the lithium industry.
As the country grapples with a cost of living ciris, the mining magnate’s wealth has continued to soar, becoming the first Australian to break the $40 billion barrier.
According to the Rich List, which will be released in full on Friday, Rinehart is now worth $40.6 billion, an increase of $3.2 billion from last year.
The boost comes as Rinehart has been busy diversifying her assets and expanding her stake in the lithium industry.
The 70-year-old accumulated a significant shareholding in Australian lithium miner Liontown Resources last year and has stakes in Azure Minerals and Vulcan Energy Resources.
Lithium is a major component in electric vehicle batteries.
However, Rinehart’s most valuable asset remains Hancock Prospecting’s 50 per cent stake in Rio’s Hope Downs iron ore mine.
According to the Financial Review, the top 10 richest Aussies are now worth a collective $222.6 billion, up almost $7 billion from last year.
Rinehart has smoked Australia’s second-richest person, Meriton founder Harry Triguboff, with a gap of $14 billion.
The 91-year-old property developer is currently worth $26.5 billion, after increasing from $23.8 billion last year.
In joint third place is tech billionaire and Atlassian co-founder, Mike Cannon-Brookes and his former partner Annie Cannon-Brookes, who are worth $24.4 billion.
It’s understood their combined assets have not been separated despite news of their 2023 split after 13 years of marriage.
Below them, in fourth place, is packaging and recycling billionaire Anthony Pratt, whose worth dropped from $24.3 billion in 2023 to $23.3 billion this year.
Atlassian co-founder Scott Farquhar ranked fifth, at $22.9 billion.
The company announced last month Farquhar would be stepping down from the company, leaving Mr Cannon-Brookes to lead as the sole chief executive.
Mining billionaires and Australia’s former richest couple Andrew and Nicola Forrest dropped from their second-place position following their split.
Ms Forrest, who has received more Fortescue shares, now sits at seventh place while Mr Forrest is in eighth.
The pair, who would have been in second place had they counted as one entry, continue to invest together in the family’s private investment company Tattarang.
Mining giant Clive Palmer has come in at sixth place, at $22.8 billion – a drop from last year’s $23.66 billion.
In ninth and tenth place are former Glencore CEO Ivan Glasenberg, at $14.9 billion, and Canva husband and wife Melanie Perkins and Cliff Obrecht, at $13.6 billion.
The couple co-founded the highly successful graphic design company alongside Cameron Adams in 2013.
The full Rich List will be released on Friday.
Originally published as Australia’s richest person revealed
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