250 wealthiest Aussies are worth $532 billion


Published on

Australia is home to a record 139 billionaires this year, with careers ranging from mining magnates, publicans, property tycoons and even tech titans.

Despite the rising costs of living impacting most everyday Australians, these individuals are worth a collective $532 billion dollars.

Compiled by The Australian, The List is one of the largest annual studies of Australia's wealthiest individuals and includes well-known names like Mike Cannon-Brookes and James Packer along with a number of new additions this year.

Atlassian co-founder Mike Cannon-Brookes is back on The Australian's rich list.

Taking out the number one spot is mining magnate Gina Rinehart, who increased her net wealth by close to $4.5 billion to $37.10 billion.

Coming in a close second is fellow miner and founder of Fortescue Metals ($FMG) Andrew Forrest who increased his wealth by $3.44 billion to $35.21 billion.

The billionaire has been in the news lately as he looks to realise his green energy dream through FMG subsidiary Fortescue Future Industries which is looking to turn green hydrogen into a major commodity.

Rounding out the podium is manufacturing tycoon Anthony Pratt and family, who has a net worth of $27.87 billion.

Pratt is the owner of Pratt Industries and chairman of Visy, the latter of which operates in Australia and is spending $2 billion on new clean energy plants and other green initiatives.

Meanwhile down the other end, Magellan co-founder Chris Mackay just sneaks into the list with a net worth of $504 million, which is down from his net worth last year of $677 million.

Naomi Milgrom, managing director of Sussan, also just sneaks into the list with a net worth of $508 million, which is also a fall from last year when she was worth $545 million.

Entering the list for the first time is publican Sam Arnaout who has more than 30 pubs and 20 hotels in his hospitality portfolio, which has amassed him a fortune of $2.30 billion.

Edward Craven is another billionaire that made the list after building out his gambling entity Stake.com, which operates in an industry that is banned in Australia.

The 250 individuals on the list may not need financial help in the current crisis but if you're trying to get your finances in order then Money has you covered.

Get stories like this in our newsletters.

Eliot Hastie was a senior journalist at Money magazine in early 2023. He was previously a producer and presenter at ausbiz where he covered startups, small caps, cryptocurrency and every other investible opportunity for Australians. Eliot has a Bachelor of Arts (Honours) in Journalism from the University of Westminster. He tweets at @Hastie93.