Australia’s 10 richest people have a combined wealth of $222.6 billion, an increase of almost $7 billion on last year, the Australian Financial Review’s Rich List has revealed.
Mining magnate Gina Rinehart, whose fortune is $40.6 billion (3 billion more than last year), topped the list for the fifth consecutive year.
The huge rise in just one year has made Ms Rinehart the first Australian to be worth more than $40 billion.
Meriton real estate magnate Harry Triguboff came in second, with a fortune valued at $26.49 billion, just $14.11 billion behind Rinehart.
Tech billionaire Mike Cannon-Brookes, along with his ex-wife Annie Cannon-Brookes, came in third with a combined worth of $24.38 billion.
Mining magnate Gina Rinehart (pictured) is now worth $40.6 billion, $3 billion more than last year.
Tech billionaire Mike Cannon-Brookes and his ex-wife Annie Cannon-Brookes (pictured) are worth a combined $24.38 billion.
Although Australia as a whole has been experiencing a long-lasting cost of living crisis, the wealth of the country’s 200 richest people has grown by 11 per cent in the past 12 months.
Together, those 200 people are now worth $625 billion, according to the 2024 report. Financial review Rich List, and the poorest are still worth a staggering $718 million.
While five of the 10 richest people made money from mining, those working in the technology sector are accumulating wealth at an unprecedented rate.
The 28 people on the list who made billions and hundreds of millions through technology include fintech (financial technology) entrepreneurs and cryptocurrency gaming pioneers.
New South Wales remains the number one state for the very rich – 80 of the 200 live there.
The number of women on the list grew strongly from 2023 to 2024, going from 36 to 41.
Tech entrepreneur Scott Farquhar (pictured with wife Kim Jackson) is worth $22.9 billion.
Meriton real estate magnate Harry Triguboff (pictured) is worth $26.49 billion.
The 10 richest people in Australia
1Gina Rinehart – 40.6 billion dollars – mining
2Harry Triguboff – $26.5 billion – property
3 Mike and Annie Cannon-Brookes – $24.4 billion – technology
4Anthony Pratt and family – $23.3 billion – manufacturing
5Scott Farquhar – $22.9 billion – technology
6Clive Palmer – 22.8 billion dollars – mining
7Nicola Forrest – 16.9 billion dollars – mining
8Andrew Forrest – 16.8 billion dollars – mining
9 Ivan Glasenberg – 14.9 billion dollars – mining
10 Melanie Perkins and Cliff Obrecht – $13.6 billion – technology
The full AFR rich list will be published on Friday.
Cardboard king Anthony Pratt (pictured) and his family are worth $23.3 billion