NewsBite

Rich Listers keep it in the family

This year’s Rich List 200 reveals some prominent families spreading the wealth around — but not necessarily by design.

Harry Triguboff in the foyer of the Meriton Apartments in Sydney.
Harry Triguboff in the foyer of the Meriton Apartments in Sydney.

The property sector has dominated this year’s BRW 200 Rich List as the mining sector loses its lustre.

The big names in property are headlined by Australia’s new richest person — Harry Triguboff — but he is just one of 54 on the list to have made much of their wealth in property.

It’s symbolic of the shift from the resources boom to the housing boom as the nation’s engine of growth.

Mr Triguboff claimed the crown from mining magnate Gina Rinehart, whose wealth has plummeted from $20 billion two years ago to just $6.06bn this year.

The stunning fall can be pinned to both a slump in iron ore prices, from over $US150 a tonne to levels below $US50, and a bitter family court battle that saw 23 per cent of Hancock Prospecting pushed into the hands of her eldest daughter Bianca.

The extent of the drop in wealth was most significant over the past 12 months for Ms Rinehart, with $8bn wiped and her spot in the Rich 200 tumbling to number four after five years at the helm.

It left Mr Triguboff to rise from third to first despite only slightly raising his fortune from $10.2bn to $10.6bn.

 
 

Meanwhile, Bianca Rinehart is one of the most well-known names to join the list for the first time, coming in at number 60 with wealth of $905 million.

It was a similar story with the Packers as James Packer saw his sister Gretel enter the list at number 77 after a carve up of the family’s riches drove her wealth to $739m. Her fortune includes significant stakes in Crown Resorts and Consolidated Press Holdings.

Mr Packer himself held at number seven on the list despite his wealth tumbling from $6.08bn to $5bn over the past 12 months.

The Pratt family also spread the wealth around, but without court intervention.

The ‘Pratt and family’ entry — which includes the holdings of Anthony Pratt, and his two sisters Heloise Waislitz and Fiona Geminder — came in at number two for the second straight year. Wealth through the Visy and Pratt Industries businesses was pegged at $10.35bn.

However, two other familiar names joined the list in Alex Waislitz and Raphael Geminder.

Alex, husband of Heloise, heads the Thorney investment operation and entered the list with wealth of $1.13bn, while Raphael — husband of Fiona — saw his wealth strike $1.22bn as he joined the list for the first time following the successful IPO of Pact group.

Mr Waislitz and Mr Geminder were two of three new entrants that join as billionaires, with toymaker Manny Stul revealed to have wealth of $1.24bn as he claimed 39th spot on the list.

Apartment developer Tim Gurner served as the youngest newcomer to the list at 34 years of age. He entered at number 160 with wealth of $460m.

In total, the wealth of the Rich 200 came to $197.3bn this year, up marginally from the $195.9bn seen last year.

The stronger number came on the back of the nation housing a record-high 53 billionaires.

The biggest winner for the year was Patrick Grove, with the internet entrepreneur’s wealth more than doubling to $587m after he completed the sale of iProperty.com.

Other major increases were seen by fellow tech names Leon Kamenev, Mike Cannon-Brookes and Scott Farquhar, with the latter two profiting from the US listing of Atlassian and the former celebrating the $855m sale of his Menulog business, of which he held 55 per cent.

All three saw their wealth enlarged by around 75 per cent.

The biggest loser from last year was troubled mining mogul and outgoing politician Clive Palmer, whose wealth more than halved from $1.4bn to $570m. The next greatest percentage loss was Gina Rinehart’s fall from $14.02bn to $6.06bn, ahead of another major mining name - albeit one better-known in Europe - in Ivan Glasenberg.

Mr Glasenberg, who heads commodities trader and miner Glencore, saw his wealth slashed from $6.14bn to $3.33bn through a tumultuous year. He consequently slid from sixth to ninth on the Rich List.

Andrew Forrest bucked the broader trend as the iron ore kingpin’s wealth advanced to $3.33bn from $2.83bn, delivering him eighth spot.

Other places in the top 10 were largely filled by property heavyweights as Westfield chairman Frank Lowy edged up to the three spot from four last year on wealth of $8.26bn, Melbourne property developer John Gandel surged to five from eight as his fortune rose to $5.4bn and Hui Wing Mau slid one spot to number six on a $1.5bn decline in wealth to $5.39bn.

Rounding out the top 10 was TPG Telecom boss David Teoh and his wife Vicky, who manage wealth of around $3.08bn.

The advance of the acquisitive Mr Teoh ensured one new name on the top 10 list, with Stan Perron the name to fall out despite the commercial property entrepreneur seeing his wealth increase from $2.65bn to $2.88bn.

The full list of the BRW’s Rich 200 List for 2016 is provided below:

1 Harry Triguboff $10.62b

2 Anthony Pratt & family $10.35b

3 Frank Lowy $8.26b

4 Gina Rinehart $6.06b

5 John Gandel $5.40b

6 Hui Wing Mau $5.39b

7 James Packer $5.00b

8 Andrew Forrest $3.33b

9 Ivan Glasenberg $3.33b

10-11 David & Vicky Teoh $3.08b


12 Stan Perron $2.88b

13 Lindsay Fox $2.49b

14 David Hains & family $2.48b

15 Solomon Lew $2.13b

16 Alan Rydge $2.08b

17 Lang Walker $2.02b

18 Mike Cannon-Brookes $2.00b

19 Gerry Harvey $1.99b


20 Huang Bingwen & family $1.99b

21 Scott Farquhar $1.97b

22 Kerr Neilson $1.94b

23 Len Ainsworth & family $1.92b

24 Jack Cowin $1.81b

25 Kerry Stokes $1.71b

26 John Van Lieshout $1.68b

27 Angela Bennett $1.61b

28 Maurice Alter & family $1.59b

29-30 Leonie Baldock & Alexandra Burt $1.55b


31 Ye Lipei $1.52b

32 Judith Neilson $1.45b

33 Tony Perich & family $1.37b

34 Chau Chak Wing $1.37b

35 Russell Withers & family $1.33b

36 Bob Ell $1.33b

37 Michael Hintze $1.32b

38 Nigel Austin $1.26b

39 Manny Stul & family $1.24b


40-41 Morry Fraid, Zac Fried & families $1.22b

42 Raphael Geminder $1.22b

43 Chris Wallin $1.22b

44 Bob Ingham $1.17b

45 Con Makris & family $1.17b

46 Brett Blundy $1.16b

47 Alex Waislitz $1.13b

48 Ron Walker $1.11b

49 Ralph Sarich $1.11b


50 Jonathan Munz & family $1.07b

51 Sam Tarascio $1.05b

52 Greg Goodman & family $1.04b

53 Bruce Mathieson $1.00b

54 Bruce Gordon $990.00m

55 Richard Smith $964.00m

56 Neville Pask $954.00m

57 Maha Sinnathamby $943.00m

58 Peter Gunn $943.00m

59 Sandy Oatley & family $910.00m


60 Bianca Rinehart $905.00m

61 Reg Rowe $901.00m

62 Nick Politis $879.00m

63 Paul Little $874.00m

64 Joy-Chambers Grundy & Family $858.00m

65 Chris Thomas $848.00m

66 Ashley Williams $824.00m

67 Brian Flannery $823.00m

68 John Kahlbetzer $822.00m

69 Lloyd Williams $790.00m


70 Nechama Werdiger and Family $789.00m

71 Marcus Blackmore $786.00m

72 Ervin & Charlotte Vidor $784.00m

74 Jeff Chapman $784.00m

75 Peter Scanlon & family $766.00m

76 Geoff Harris $740.00m

77 Gretel Packer $739.00m

78 Gordon Fu & family $733.00m

79 Bruno Grollo & family $724.00m


80 Bill James $722.00m

81 Graham Turner $707.00m

82 Paul Lederer & family $703.00m

83 Travers Duncan $686.00m

84 Terry Snow $685.00m

85 Allan Myers $671.00m

86 Chris Morris $667.00m

87 Richard White $657.00m

88 Andrew Muir $651.00m

89-90 Iris Lustig-Moar & Max Moar $650.00m


91 Paul Fudge $646.00m

92 Kevin Seymour & family $641.00m

93 Jack Bendat $637.00m

94 Greg Poche $629.00m

95 Harry Stamoulis & family $626.00m

96 Kerry Harmanis $622.00m

97 Andrew Abercrombie $610.00m

98 Chris Mackay $604.00m

99 Bryan Dorman $600.00m


100 Ian Roberts $595.00m

101-102 John & Robert Kirby $594.00m

103 Zig Inge & family $591.00m

104 Patrick Grove $587.00m

105-106 Shesh Ghale & Jamuna Gurung $586.00m

107 Terry Peabody $584.00m

108 Naomi Milgrom $582.00m

109 Theo Karedis $573.00m


110-111 Jina Chen & Alex Wu $570.00m

112 Clive Palmer $570.00m

113 Mary Fairfax $562.00m

114 Graham Tuckwell $559.00m

115 Greg Coffey $552.00m

116 Shaun Bonett $545.00m

117 Mick Power $544.00m

118-119 David Greiner & Ben Richardson $543.00m


120 Dale Elphinstone $541.00m

121 Leon Kamenev $539.00m

122 George Kepper $538.00m

123 John Symond $537.00m

124 Paul Blackburne $536.00m

125 Evan Acton $525.00m

126 Trevor Lee $515.00m

127 Alf Moufarrige $511.00m

128 Hamish Douglass $505.00m

129 Bruce Neill $491.00m


130 Robert Magid $489.00m

131 Kevin Maloney $485.00m

132-133 Bill & Imelda Roche $485.00m

134 Dick Honan $483.00m

135 Peter Cooper $482.00m

136 John Simpson (Corry Lyn Group) $477.00m

137 Mark Creasy $463.00m

138 Gordon Martin & family $462.00m

139-140 Diana & Rino Grollo $461.00m


141 Tim Gurner $460.00m

142 John Higgins $460.00m

143 Jonathan Hallinan $459.00m

144 Tony Poli $456.00m

145 Nick DiMauro $452.00m

146 Bob Rose $448.00m

147 Rod Duke $446.00m

148 Robert Whyte $433.00m

149 Grahame Mapp $430.00m


150 Laurie Sutton $430.00m

151 Max Beck $423.00m

152 Tony Haggarty $422.00m

153 Hilton Nathanson $421.00m

154 Michael Boyd $418.00m

155 John Singleton $416.00m

156 Christian Beck $414.00m

157 Chris Ellison $413.00m

158-159 Christina & Tony Quinn $411.00m


160 Seumas Dawes $408.00m

161 Alan Tribe $404.00m

162 Tony Wales $403.00m

163-164 Andrew & Michael Buxton $394.00m

165 Jack Gance $391.00m

166 Danny Hill $391.00m

167 Barry Lambert $389.00m

168 Harold Mitchell $388.00m

169 Patricia Ilhan $383.00m


170 Yenda Lee & family $382.00m

171 Mario Verrocchi $380.00m

172 Clive Berghofer $374.00m

173 Nigel Satterley $374.00m

174 Gerry Ryan $370.00m

175 Doug Shears $369.00m

176-177 Angus & Richard Grinham $368.00m

178 Rod Jones $367.00m

179 Joe Catalfamo $366.00m


180 Craig Winkler $363.00m

181 Michael Gordon $363.00m

182 Spiros Alysandratos $361.00m

183 Radek Sali $355.00m

184 Frank Costa & family $352.00m

185 Gordon Merchant $348.00m

186 John Kinghorn $348.00m

187 Nicole Kidman $338.00m

188 David Paradice $337.00m

189 George Koukis $336.00m

190 Tony Denny $333.00m

191 Peter Hughes & family $328.00m

192 Sam Chong $328.00m

193 John Hunt $324.00m

194 Bill McDonald $325.00m

195 Michael Crouch $321.00m

196 Philip Cardaci & family $311.00m

197 Hugh MacLachlan & family $310.00m

198 Arthur Laundy $308.00m

199 Jamie Pherous $306.00m

200 James Fairfax $303.00m

Add your comment to this story

To join the conversation, please Don't have an account? Register

Join the conversation, you are commenting as Logout

Original URL: https://www.theaustralian.com.au/business/news/rich-listers-keep-it-in-the-family/news-story/598ea44a0fef06c5d73a232b7be4eb9e