Isaac region family on nation's Rich List

The owners of Tierawoomba Station, near Nebo, have been included on the Financial Review's annual Rish List

Jane and Peter Hughes are ranked 188 on the 2019 Rich List. Picture: Tony Martin

OWNING more than two million hectares of land in Queensland and the Northern Territory, it's no surprise the Hughes family has made the Australian Financial Review's Rich List.

Peter Hughes and his family, who run Tierawoomba Station about 50km southeast of Nebo, in the Isaac Region, sit at number 188 on the Rich List. Their estimated worth is $506 million.

The family, which has made both national and state-wide rich lists in the past, owns and operates the Hughes Pastoral Company, with headquarters at Tierawoomba where they run 25,000 Wagyu-cross cattle.

The fourth-generation family business includes Peter and Jane's sons, Samuel and Frederick, who are also involved in the management of the company.

Cover of the Financial Review Rich List cover. Picture: Australian Financial Review

Having tracked the wealthiest people in the country since 1983, The Australian Financial Review Rich List this year found property remains the top source of wealth despite the housing slump.

In its second year, it found the assets of the wealthiest people in Australia totalled just $7 billion. Now, that total exceeds more than $330 billion.

Anthony Pratt and family have topped the list this year - worth $15.5 billion. The Australian businessman is the owner of the world's largest packaging and paper company.

Next in line is iron ore magnate Gina Rineheart, followed by Harry Triguboff (property), Hui Wing Mau (property) and Scott Farquhar (technology), who is the only person in the top five worth less than $10 billion.

Originally published as Isaac region family on nation's Rich List