When we talk about developed countries and conduct a survey in terms of its economical conditions and GDP statistics, we see that Australia is a land known for the rich people. While it’s the country where people enjoy high standard of living, it is also seen that there are many rich people who are earning more than Billions and are contributing in the country’s success.
Let us see the top 10 richest people of Australia and see from what and where did they started off. Have a look!
1. Gina Rinehart
Net Worth: $29.17 Billion
Designation: owner of Hope Down iron ore mine
Rinehart is the richest person in Australia and is the richest woman in the world; surpass the Christy Walton who has net worth of $28 recently due to her recent expanded iron ore operation and developed two coal projects. Her net worth doubles initially due to the deal signed between her developing project, Roy Hill iron ore mine, and South Korean Steel giant Posco that valued the project up to $10 billion, thereby boosting her fortune.
Net Worth: $7.2 Billion
Designation: CEO of Glen core International plc
Sometimes life can take you where you never thought of to be, same happened with Glesenberg, he was an athlete and by his early 20s he was the national junior champion in race walking. But who knows his decision could change when his interest enhance after he did MBA in commodities, later stepped in mining and selling South Africa’s coal to abroad could make him a billionaire. Due to his fall hard and fast drop in shares his company lost millions of dollars that lowers his fortune from $8.80 billion to $ 7.40 billion.
3. Andrew Forrest
Net Worth: $5.3 Billion
Designation: non executing chairman of Fortescue Metals Group
Forrest, known by his nick ‘Twiggy’ is a mining tycoon. He did his majors in economics and by using the tactics he became the CEO of Minara Resources, the largest mineral exporters in Australia. Due to his misleading shareholders, falling of iron ore prices and lost battle against economic vandalism which he referred to Mineral Resource Rent Tax that stated big miners will pay $2 billion tax, he has to step as CEO to non executive Chairman.
4. James Packer
Net Worth: $4.5 Billion
Designation: Executive Chairman of publishing and broad casting limited
Packers has always stayed on top of the list, for 21 years, of being the wealthiest but in 2008 due to wrong investment James lost $1 billion excess there by now he is at ranked 3rd. James father did not let him to go to university by saying “why would he want to go there? To learn how to smoke marijuana?” and so, he involved him in their family business of media. After the death of his father he started the biggest gaming and gambling empire, Crown. The overgrown his fortune.
5. Frank Lowy
Net Worth: $4.4 Billion
Designation: Non-Executive Chairman of the Westfield Group
He is co-founder of the Westfield Group, operator of over 100 shopping centers in Australia, the United States and Great Britain. He was ranked number 1 on the BRW Rich 200 list. His career of building shopping malls across the globe with his partner, Saunders, stretched to a long span time of 30 years. After turning 80 he stood down as Executive Chairman of Westfield Group and his sons Steven and Peter became joint chief executives.
6. Harry Triguboff
Net Worth: $4 Billion
Designation: Chairman and Managing director of Merinton Apartments Pty Ltd
He became Australian citizen 1961 and did variety of odd jobs including taxi and even owning a milk round in Chats wood. However soon he tried his luck in state business and luck was with him in 1963 he built Australia’s biggest residential property. He also completed construction of World Tower Sydney’s tallest residential apartment building. He has two daughters and lives in Sydney and owns a collection of cars.
7. Anthony Pratt
Net Worth: $3.4 Billion
Designation: Chairman and CEO of Pratt Industries and Global Chairman of Visy Industries
He is the owner of world’s largest privately-owned paper and packaging company. In a small span of just 10 years from 1991-2011 the Pratt Industries revenues surged from US$100 million to US$ 1 billion. Pratt Industry currently holds 5000 employees in Australia and 3000 employees in USA. Pratt has been honored with awards by environmentalists’ agencies due to his commitment towards environmental causes.
8. John Gandel
Net Worth: $ 3.2 Billion
Designation: philanthropist and real estate developer
He is a Jewish Australian businessman and a property developer who made the money by development of commercial real estate. He possessed much of his wealth from his Polish immigrants. In 1950 he joined his parent’s business. He managed to buy and convert a shop into Australia’s biggest shopping mall which is now valued over $3billion. According to a report Gandel is the richest man in Melbourne with an estimated net worth of A$3.4 billion. In May 2006, Gandel was awarded an honorary doctorate of philosophy from Tel Aviv University.
9. Angela Bennett & Michael Wright
Net Worth: $2.3 Billion
Designation: mining tycoon
Angela and Michael are the grantee of a West Australian mining fortune; they own half of the Hamersley iron ore grand. Currently the mansion owned by Bennett and her brother Michael is about to sold at $57.5 million to Chris Elison. They also sold $6 million development site in the Perth Central business district. The two mining tycoon queens Gina Rinehart and Angela, who initiated a cold war over the possession of Hope Downs Iron ore mine in Pilbara as their fathers were equally involved in Hope Downs Venture.
10. Kerr Neilson
Net Worth: $2.10 Billion
Designation: Managing director of Platinum Asset Management.
He established Platinum Asset Management fund in 1994. It is estimated that Platinum has $us 16billion in funds under management. Neilson typically avoids “fashionable stocks”, instead investing in “good companies, relatively cheaply, over the long term”. Due to world recession 2012 year resulted in 16 percent fall in net profit, mainly due to a 14 percent reduction in investment income this resulted his rank to go down to 10th place in 2012 from 6th place in 2010.
These richest people of Australia are earning more than many rich ones of different nations and are contributing in the country’s GDP.