Who are Australia’s leading billionaires? According to a 2020 report by Oxfam, there were 43 billionaires in Australia which dropped to 36 in 2019. As defined by the AFR Rich List, here are Australia’s top ten richest people.
Anthony Pratt & family
Anthony Joseph Pratt (born 11 April 1960 in Melbourne, Victoria), an Australian businessman and billionaire, is the Executive Chairman of Visy Industries and Pratt Industries in America, which is the world’s largest privately owned packaging and paper company. According to the Financial Review Rich List 2019, Pratt and his family have a net worth of A$15 billion. Forbes assessed Pratt’s net worth in 2019 at US$6.8 billion; listing his sisters’ wealth independently.
Pratt is the son of the late Richard Pratt, a former manufacturing magnate and former president of the Carlton Football Club, and Jeanne Pratt AC, a philanthropist.
Role: Manufacturing, Executive chairman Visy and Pratt Industries
Georgina Hope “Gina” Rinehart (née Hancock, formerly Hayward; born 9 February 1954) is an Australian mining magnate and heiress. Rinehart is Chairman of Hancock Prospecting, a privately-owned mineral exploration and extraction company founded by her father, Lang Hancock. She is one of Australia’s richest people; with Forbes estimating her net worth in 2019 at US$14.8 billion as published in the list of Australia’s 50 richest people; and The Australian Financial Review estimating her net worth in 2019 at A$13.81 billion as published in the Financial Review Rich List. Forbes considers Rinehart one of the world’s richest women.
Rinehart was Australia’s wealthiest person from 2011 to 2015, according to both Forbes and The Australian Financial Review. Her wealth peaked at around A$29 billion in 2012, at which point she overtook Christy Walton as the world’s richest woman and was included on the Forbes list of The World’s 100 Most Powerful Women. Rinehart’s net worth dropped significantly over the following few years due to a slowdown in the Australian mining sector, however, her fortune remains immense.
Role: Resources, Agriculture, Chairman Hancock Prospecting
Harry Oskar Triguboff AO (born 3 March 1933 in China, Liaoning), is a Chinese-born Australian billionaire real estate developer, and one of Australia’s richest people. He is the founder and managing director of Meriton and is known as “high-rise Harry”. In May 2016, he was declared the wealthiest person in Australia by net worth in the annual Financial Review Rich 200 list, yet held the mantle for only one year.
Role: Property, Managing director Meriton
Hui Wing Mau
Xu Rongmao, JP (simplified Chinese: 许荣茂; born 1950), or Hui Wing Mau in Cantonese, is a Chinese-Australian entrepreneur and billionaire, and the founder and the chairman of Shimao Property. Xu is the 8th richest man in mainland China, according to the Hurun Report China Rich List, with a net worth of 7 billion. Xu is estimated to be one of the largest property developers in Shanghai. In 2005 he moved to Australia.
Role: Property, Chairman Shimao Group
Scott Farquhar (born December 1979) is an Australian billionaire, the co-founder and co-CEO of the software company Atlassian. Farquhar often carries the epithet of accidental billionaire after he and his business partner Mike Cannon-Brookes founded Atlassian with the aim to replicate the A$48,000 graduate starting salary typical at corporations without having to work for someone else.
Role: Technology, Co-chief executive Atlassian
Michael Cannon-Brookes (born 17 November 1979) is an Australian billionaire, the co-founder and co-CEO of the software company Atlassian. Cannon-Brookes often carries the epithet of accidental billionaire after he and his business partner Scott Farquhar founded Atlassian with the simple aim of replicating the then-typical graduate starting salary of A$48,000 at the big corporations without having to work for someone else.
Role: Technology, Co-chief executive Atlassian
Sir Frank P. Lowy, AC (born 22 October 1930) is an Australian-Israeli businessman of Jewish Slovakian-Hungarian origins and the former long-time Chairman of Westfield Corporation, a global shopping centre company with US$29.3 billion of assets under management in the United States, United Kingdom and Europe. In June 2018 Westfield Corporation was acquired by French company Unibail-Rodamco. He is a former Chairman of Scentre Group, the owner and manager of Westfield-branded shopping centres in Australia and New Zealand.
With an assessed net worth of A$8.26 billion in 2017, Lowy is ranked as the fourth richest Australian according to the Financial Review Rich List; having been the richest person in Australia during 2010. Forbes Asia magazine assessed Lowy’s net worth at US$4.6 billion in January 2014. In 2019, Forbes placed him fourth in its Australia’s 50 Richest 2019 with the net worth at US$6.5 billion.
He is Chairman of the Institute for National Securities Studies, an independent academic institute that studies key issues relating to Israel’s national security and Middle East affairs
Role: Property, Former chairman Westfield Corporation
John Andrew Henry Forrest AO (born 1961), nicknamed Twiggy, is an Australian businessman. He is best known as the former CEO (and current non-executive chairman) of Fortescue Metals Group (FMG), but also has interests elsewhere in the mining industry and in cattle stations.
With an assessed net worth of A$6.84 billion according to the 2017 Financial Review Rich List, Forrest was ranked within the top ten richest Australians. He was the richest person in Australia in 2008. In 2013, Forrest and his wife, Nicola, were the first Australians to pledge the majority of their wealth to charity in their lifetimes. He had earlier stepped down as CEO of Fortescue Metals in 2011 in order to spend more time on philanthropic pursuits. Much of his philanthropy has been through either the Minderoo Foundation (focusing on education and Indigenous Australians) or the Walk Free Foundation (focusing on ending modern slavery), both of which he established. In 2014, Forrest and his wife, Nicola, pledged $65 million over 10 years through the Minderoo Foundation, establishing the Forrest Research Foundation to offer scholarships to students pursuing a PhD at a Western Australian university.
Role: Resources, Chairman Fortescue Metals Group
Ivan Glasenberg (born 7 January 1957) is the chief executive officer of Glencore, one of the world’s largest commodity trading and mining companies. Glasenberg has or had citizenship of South Africa and Australia. He became a Swiss citizen in 2011. He is also on the board of mining company Minara Resources Ltd.
Role: Resources, Chief executive Glencore
John Gandel AC (born 1935 as Aaron Jonna Gandel), an Australian businessman, property developer and philanthropist, made his fortune in the development of commercial real estate as well as shopping centres located in Melbourne, Victoria.
Gandel, who inherited much of his wealth from his Polish-immigrant parents, founders of the Sussan women’s clothing chain, is consistently ranked within the top ten wealthiest Australians by net worth in both the Financial Review Rich List, where in 2019 he was ranked tenth with an assessed net worth of A$6.60 billion; and in 2016 ranked seventh by Forbes magazine, with an assessed net worth of US$3.2 billion. Photo: https://twitter.com/CreativePships/
Role: Retail, Founder Gandel Group