NSW rich list power rankings: Who are the wealthiest people in the state?
There are 44 billionaires who call NSW home, and while a few names are no surprise there are some who like to stay under the radar. See our power rankings.
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NSW is home to 38 per cent of the country’s richest people, with 96 men and women making the list of Australia’s 250 wealthiest people this year.
The large majority of Australia’s 131 billionaires live on the east coast, with 44 choosing to reside in NSW.
SCROLL DOWN TO SEE THE FULL LIST OF NSW’S BILLIONAIRES
The List is the biggest annual study of Australia‘s 250 wealthiest individuals undertaken in this country, with final wealth figures calculated to late February 2022.
The brains behind Atlassian, Mike Cannon-Brookes and Scott Farquhar, have come in at the top of the list as the state’s wealthiest moneybags.
Meanwhile, eight new names from NSW graced the list with Zambreros founder, Sam Prince, coming in at 112.
Meet 25 of NSW’s richest for 2022 including those who often fly under the radar, and the newcomers.
MIKE CANNON-BROOKES AND SCOTT FARQUHAR: ATLASSIAN
$26.2bn, ranked four and $25.99bn ranked 5 respectively
Mates Mike Cannon-Brookes and Scott Farquhar, the founders of Atlassian, are the richest moneybags that call NSW home.
The duo met at the University of NSW and started the business with $10,000 of credit card debt.
Atlassian’s valuation in the past year has topped $100 million, and the pair still retain a majority shareholding in a business that floated on the NASDAQ exchange in the US in 2015 at an $8bn valuation.
Cannon-Brookes has been voluble about green energy and launched a bid for AGL with Brookfield in February.
He also has spent more than $200m on Sydney property and late last year emerged as a new co-owner of NRL club South Sydney alongside James Packer and actor Russell Crowe.
Farquhar has property investments in and around Sydney, and also has tens of millions invested in various start-ups and technology companies via his Skip Capital.
He has also mentored start-up success stories such as SafetyCulture and CultureAmp, which have both become $1bn ‘unicorns’.
HARRY TRIGUBOFF: MERITON
$20.81bn, ranked 6
The Sydney apartments king Harry Triguboff has been branching out, buying sites in Melbourne and Canberra to build more Meriton serviced apartments and lodging plans for new skyscrapers on the Gold Coast.
But Triguboff is not slowing down in his hometown either, lodging plans for a 30-storey tower in Parramatta.
Meriton already has projects in Sydney’s west and a string of other holdings around the city, where it has had to navigate Covid-related stoppages in the past year.
But Triguboff, who founded Meriton in 1963, is confident the rental market for his units will remain strong and buyers will return in greater numbers due a general housing shortage.
He has also kept thousands of apartments to rent out himself and estimates he will make $400m building and keeping the units for investment this year.
Meriton owns close to 14,000 units and is one of biggest serviced apartment brands in the country.
In 12 months, his estimated wealth grew from $17.2bn to $20.81bn.
CLIFF OBRECHT AND MELANIE PERKINS: CANVA
$15.89bn, ranked 8 and 9 respectively
Powerhouse duo Melanie Perkins and Cliff Obrecht more than quadrupled their wealth in an incredible year.
Their graphic design start-up Canva is on the fast track to becoming the most successful and valuable Australian technology firm ever, after a fundraising round in September pegged its value at $55bn.
That means Canva, which was only formed in 2012, is now worth more than corporate giants Woolworths, Telstra, Rio Tinto and Coles, and is the most valuable privately held tech company in the world.
Perkins and Obrecht, who met at university and married last year, say they want to give away most of their wealth which grew from $2.5bn to $15.89bn in a year.
CAMERON ADAMS: CANVA
$5.43bn, ranked 15
Cameron Adams has also joined the billionaire ranks thanks to his stake in Canva, the online graphic design firm taking the world by storm.
A former Google employee, Adams joined Perkins and Obrecht a decade ago when they had formed a design business called Fusion Books.
He is passionate about fighting climate change, and says tech firms need to take a more proactive stance on the subject in order to attract and retain talent.
In October Canva became the first Australian company to sign The Climate Pledge, a global commitment to reach net-zero carbon by 2040 and meet The Paris Agreement 10 years early.
JACK COWIN: COMPETITIVE FOODS AUSTRALIA
$4.82bn, ranked 18
Pizza and burgers underpin the wealth of Jack Cowin, Australia’s fast food king, with some mining and oil and gas investments as well.
Cowin is the chairman and biggest shareholder in the ASX-listed Domino’s Pizza Enterprises, which performed strongly last year as more customers got their food delivered during lockdowns.
He is also the owner of the privately-held Competitive Foods, which owns the Hungry Jack’s business that has also thrived during Covid.
He owns a stake in plant-based meat business v2 Foods, and the oil and gas services business Apache in the US.
Cowin moved to Australia from Canada in 1969, famously borrowing $10,000 each from 30 Canadians to establish fast food franchises.
GREG GOODMAN AND FAMILY: GOODMAN GROUP
$3.52bn, ranked 26
Greg Goodman’s eponymous property company has been a big winner of the pandemic, as e-commerce customers renting warehouses and industrial property drive up Goodman Group’s share price.
In 12 months, his estimated wealth grew from $2.6bn to $3.52bn.
The group builds and owns large-scale warehouses around the world, and fulfilment centres have been busy given the growing number of consumers shopping from home.
Goodman took what was a small business in the 1980s and made it into one of the most valuable on the ASX.
His family’s wealth is traced to the Goodman Fielder empire founded by Sir Patrick Goodman.
JOHN, MARCELLO AND GIUSEPPE CASELLA: CASELLA FAMILY BRANDS
$1.9bn, ranked 62, 63 and 64 respectively
The Casella brothers own Australia’s biggest family wine business, which posted its biggest turnover and sales volumes in its six decade history last year.
Casella Wines, whose Yellow Tail became the most popular imported wine in the US, had revenue of almost $520m and a profit of close to $50m.
The business was founded by Maria Casella and her husband Filippo, who migrated to Australia from Italy in 1957.
The winemaker has also launched a whisky, but the bulk of its business remains in wine through the Casella brands and its other labels, which include Peter Lehmann, Baileys of Glenrowan and Morris.
CHARLOTTE AND ERVIN VIDOR: TOGA GROUP
$1.5bn, ranked 84 and 85 respectively
Ervin Vidor, a former accountant, and wife Charlotte Vidor started in property in 1963, developing two blocks of nine units in Sydney’s Glebe.
Today, they oversee a hotel and property empire with their Toga Group spanning construction, hotels and property investment.
The joint venture Toga Far East Hotels has a portfolio of about 80 hotels across Australia, New Zealand and Europe with seven brands, including Adina, Vibe, TraveLodge and Rendezvous Hotels.
TONY PERICH AND FAMILY: LEPPINGTON PASTORAL
$1.46bn, ranked 89
Tony Perich and his family have been at the forefront of trying to save and turn around the struggling ASX-listed noumi, the UHT milk and plant-based drinks maker. Formerly known as Freedom Foods, noumi came close to collapse and required a $265m recapitalisation from investors.
The Perich family led that as major shareholders, and Perich’s son Michael has been installed as managing director.
The Perich fortune stems from the Leppington Pastoral dairy farm Perich’s parents Kolombo and Julia started in 1951, milking 25 cows. Leppington now milks 2000 cows thrice daily at one of the largest dairies in Australia, at Bringelly.
The family has also long owned big parcels in Sydney’s southwest suburbs, and is behind some of the major development projects that are seeing the region boom.
These include huge new housing projects at Oran Park and near the new airport under construction at Badgerys Creek.
Perich also owns half of the thriving Narellan Town Centre shopping mall.
JOHN CAMILLERI AND FAMILY: BAIADA HOLDINGS
$1.39bn, ranked 93
The Baiada family owns one of the biggest poultry companies in Australia, and also has a large property business spanning western Sydney.
It is there that the late Celestino ‘Charlie’ Baiada started processing chickens after arriving from Malta in 1916 and initially working as a kitchen hand while buying land.
In November 1983, the family, the company and its employees lost their leader when Charlie passed away at the age of 81.
At just 24 years old, John Camilleri stepped in and kickstarted a period of growth for Baiada.
The chicken business went on to become a market leader, and today comprises the Steggles and Lilydale Free Range brands.
In 12 months, the family’s wealth grew from $891m to $1.39bn.
The family’s Celestino property business has projects such as the $5bn Sydney Science Park in the city’s west and an 8000-dwelling project in Jimboomba, Queensland.
SAM PRINCE: ZAMBRERO
$1.18bn, ranked 112
Sam Prince, who oversees one of the fastest-growing takeaway businesses in the country made Australia’s top 250 rich list for the first time last year, coming in at 112.
He started the Mexican-themed chain Zambrero in Canberra in 2005, and it now has more than 230 restaurants onshore, and is looking to expand internationally to the US and UK.
It is the basis of Prince’s estimated wealth, and he has extensive philanthropic ventures, including donating more than 50 million meals via Zambrero.
Prince also owns restaurants in Sydney and the cloud-connected chain of medical centres Next Practice, as well as a majority interest in video-based hiring platform Zapid Hire and beverage brand Shine.
ARNOLD VITOCCO: VITOCCO ENTERPRISES
$1bn, ranked 131
Arnold Vitocco has made his fortune in Sydney’s west, particularly in the Macarthur region where he has several property projects and owns the successful Narellan Town Centre with billionaire Tony Perich.
He also made headlines last year for a deal right in the middle of town when he was named as a buyer of a $22m apartment in Crown’s complex in Barangaroo.
Vitocco also owns pastoral holdings and other shopping centres, as well as the Max Brenner outlet chain and wholesaler Benchmark Patisserie Australia.
His wealth grew from $750m to $1bn in the past 12 months.
JUDITH NEILSON: WHITE RABBIT GALLERY
$980m, ranked 132
While Judith Neilson’s estimated wealth declined from $1.25bn to $980m, she is one of only 30 powerhouse women who made the list.
Neilson’s fortune is derived from the funds management business headed by her ex-husband Kerr Neilson, Platinum Asset Management.
Both had maintained large shareholdings, though Neilson sold her last parcel of Platinum stock in a $70m block trade in January.
Platinum shares had been falling before then, and that and tax implications of the sale account for Neilson’s fall in wealth.
She now concentrates on her contemporary art holdings, including the White Rabbit Gallery in Sydney’s Chippendale and property in the same suburb and nearby.
Neilson also has extensive philanthropic pursuits, including the Judith Neilson Institute of Journalism.
TERRY AND ARTHUR TZANEROS: ACFS LOGISTICS AND AGS WORLD TRANSPORT
$972m, ranked 134 and 135 respectively
Father and son business owners Terry and Arthur Tzaneros, who are behind the largest privately owned container logistics operator in Australia, were also newcomers to the list for 2022 coming in at 134 and 135.
Combined, ACFS Port Logistics and AGS World Transport, have annual revenue of more than $400m and pre-tax profits approaching $80m.
The family duo started ACFS in late 2005 and the company now employs more than 1200 staff nationally.
Its Port Botany facility is the largest fully integrated logistics facility on the port.
Terry Tzaneros also made headlines last May when he and wife Anne emerged as buyers of a $38m home in Sydney’s Point Piper, and his son Arthur then bought a Vaucluse mansion for $32m just two months later.
SAM ARNAOUT: IRIS CAPITAL
$922m, ranked 145
Sam Arnaout has made his debuts on The List after making a splash in one of the hottest property sectors – pubs and hotels.
He bought his first property at 17 and hasn’t stopped buying them since, and the developer has emerged from obscurity in recent years.
Arnaout’s is the chief executive of Iris Capital which has snapped up dozens of pubs in recent years, and last year bought the Lasseters Hotel Casino in Alice Springs for $105m.
Arnaout also unveiled plans for a $100m revamp of the resort, including a residential portion on top of expanding existing gaming areas, bars and restaurants and a new hotel lobby, gym, creche and day spa.
With more than 30 pubs and 20 hotels, including its $178m acquisition of 17 Ibis hotels as part of the Accor Invest portfolio, Iris is one of Australia’s largest privately owned property and hospitality groups.
It has substantial residential projects in Newcastle and Queensland, and in Sydney’s Kings Cross it is transforming the old Bourbon & Beefsteak hotel into luxury apartments.
WES MAAS AND FAMILY: MAAS GROUP
$712m, ranked 181
Wes Maas returned to his hometown of Dubbo in western NSW 20 years ago and set about building a business empire after abandoning his NRL playing dreams.
He used savings to buy a bobcat and borrowed another $25,000 for a tipper truck, and it paid off as he and his family made the list for the first time in 2022.
Today, Maas Group employs more than 850 people across construction materials, property, civil infrastructure, and underground mining and tunnelling divisions.
It floated on the ASX in late 2020 and its shares have since doubled.
PETER FREEDMAN: RODE
$667m, ranked 194
Many might not know the name Peter Freedman, but he is a quiet Australian manufacturing business in a loud industry: music.
He made his mark with the Rode microphone brand which is sold in almost 120 countries across the world and are put together in a state-of-the-art $60m plant at Sydney’s Silverwater.
Freedman moved to Australia from Sweden when he was eight. He later dropped out of high school to run the professional audio products family business Freedman Electronics when father Henry fell ill.
He would later borrow heavily, striking it big with a cheap microphone imported from China to which he made a few adjustments.
Most Rode components are now made in Australia and financial documents lodged last year show annual net profits of more than $40m.
ROBIN KHUDA: AIRTRUNK
$620m, ranked 207
Newcomer to the list Robin Khuda is founder of the data centre business AirTrunk, which is growing quickly across the country and Asia.
The company announced plans for a 300 megawatt data centre in Tokyo, a facility worth up to $5 billion that would be that country’s largest.
It will be AirTrunk’s sixth data centre in operation, adding to the two in Sydney already, along with one in Melbourne, Singapore and Hong Kong.
Khuda maintains a minority stake in the business after selling most of it to Macquarie Infrastructure and Real Assets in 2020.
He has since snapped up about $100m in property, including houses in Sydney and commercial buildings in Melbourne.
ROBYN DENHOLM: TESLA
$505m, ranked 246
The only female newcomer to the list in NSW, Robyn Denholm is the Australian chairman of what has been at various times the biggest company in the world in the past year, electric vehicle manufacturer Tesla.
She joined the board of the company founded by billionaire Elon Musk in 2014 and became chairman in late 2018.
Her estimated wealth is based on her Tesla stock and proceeds from the sale of portions of her holdings in the past few years.
Denholm was previously chief financial officer of Telstra and before then spent 17 years working in the US at technology companies.
SEE THE FULL LIST OF NSW’S BILLIONAIRES
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Originally published as NSW rich list power rankings: Who are the wealthiest people in the state?
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