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MoneyAustralia’s wealthiest people revealed as total Rich List valuation balloons to nearly $350 billion

03:00  03 june  2019
03:00  03 june  2019 Source:   smartcompany.com.au

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Australia ’ s top 200 richest people are richer , older and more tech-focused than ever before — though, they’re still mostly familiar faces. The AFR’s Rich List has been running since 1984, and the first list ’s entrants had a combined wealth of .4 billion . Today, the total wealth of the list is a

The full list : Australia ' s wealthiest 200 revealed . The subsequent surge in the red metal’s price was enough to put Gina Rinehart back on top of the Rich List for the first time since 2015, with record wealth of nearly billion – up 109 per cent from her valuation last year.

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Australia’s top 200 richest people are richer, older and more tech-focused than ever before — though, they’re still mostly familiar faces.

The AFR’s Rich List has been running since 1984, and the first list’s entrants had a combined wealth of $6.4 billion. Today, the total wealth of the list is a whopping $341.8 billion, an increase of over 5,200% in 35 years.

But Australia’s richest 200 have also managed to significantly increase their wealth in just the past 12 months, with last year’s list reporting a total wealth of $282.7 billion. This increase can be in part attributed to the list now including some wealthy families, but by and large, the rich are just getting richer.

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The wealthiest self-made young Australians are growing their businesses at a rate that is The .6 billion valuation of Canva, the graphic design software-as-a-service provider offering a simplified Rich List editor Michael Bailey Rich List researcher and writer Iain Gibson Data editor Edmund

Rich List editor, Michael Bailey, said the list shows how the wealthiest Aussies on the list are “The Young Rich List is growing solidly again in 2019, and it’s quite interesting to see how Australia ’ s Collectively, the 100 young Australians on the list have .2 billion , nearly twice as much as 2018

At the top of the pile, unsurprisingly, is cardboard box mogul Anthony Pratt, who’s wealth ballooned 20% this year to $15.57 billion thanks to some friendly tax policies for his US-based Pratt Industries. Next on the list is another familiar face, mining heavyweight Gina Rinehart, with a wealth of $13.81 billion.

Property kings Harry Triguboff and Hui Wing Mau followed, with $13.54 billion and $12.77 billion respectively.

And, for the first time ever, the Atlassian founder duo did not share the same spot on the rich list, with Scott Farquhar edging ahead of his friend (and neighbour) Mike Cannon-Brookes. Farquhar squeezed ahead of Cannon-Brookes by just $0.12 billion, with his total wealth coming in at $9.75 billion, likely due to some of the investments made by his investment fund Skip Capital.

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Australia ' s rich keep getting richer , with the top 1 per cent of Australians having more than double Globally, the wealthiest 1 per cent of people in the world have more than double the wealth of 6.9 billion Oxfam's annual list highlighting inequality has found the number of billionaires in Australia

The World' s Billionaires is an annual ranking by documented net worth of the wealthiest billionaires in the world, compiled and published in March annually by the American business magazine Forbes.

The Atlassian duo weren’t the only rich tech founders on the list, however, with a record 14 technology-focused founders appearing. This includes WiseTech founder Richard White at rank 20 with $3.31 billion, Afterpay founder Nick Molnar at rank 194 with $487 million, and Envato founders Cyan and Collis Ta’eed at rank 94, with a combined wealth of $974 million.

Former chief executive and founder of autonomous vehicle startup Zoox Tim Kentley-Klay also featured highly on the list, coming in at rank 86 with a wealth of $1.1 billion. Although the founder was sacked from his job last year, he still retains a 25% stake in the company.

The list has a record 91 billionaires on it, meaning nearly half of the list is now made up of the especially wealthy, and the average wealth of entrants on the list has grown 20% to $1.70 billion.

Australia’s wealthiest people revealed as total Rich List valuation balloons to nearly $350 billion © Provided by Private Media Operations Pty Ltd. rich list A record 26 women also appeared on the list for the first time, however, only a couple of these are new entrants, with many joining due to their placing in rich Australian families.

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" Australia is among the wealthiest nations in the world, yet the pervasive gap between the haves and the have-nots persists. Oxfam' s report found that in the 10 years since the global financial crisis, the number of billionaires around the world has nearly doubled.

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See the top 10 richest Australians below, and read the full list for 2019 here.

1. Anthony Pratt, Visy — $15.57 billion

2. Gina Rinehart, Hancock Prospecting — $13.81 billion

3. Harry Triguboff, Meriton — $13.54 billion

4. Hui Wing Mau, Shimao Group — $10.39 billion

5. Scott Farquhar, Atlassian — $9.75 billion

6. Mike Cannon-Brookes, Atlassian — $9.63 billion

7. Frank Lowy, Westfield Group — $8.56 billion

8. Andrew Forrest, Fortescue Metals — $7.99 billion

9. Ivan Glasenberg, Glencore — $7.17 billion

10. John Gandel, Gandel Group — $6.6 billion

Pictures: The countries with the most billionaires

Australia’s wealthiest people revealed as total Rich List valuation balloons to nearly $350 billion
Australia’s wealthiest people revealed as total Rich List valuation balloons to nearly $350 billion
Australia’s wealthiest people revealed as total Rich List valuation balloons to nearly $350 billion
Australia’s wealthiest people revealed as total Rich List valuation balloons to nearly $350 billion
Australia’s wealthiest people revealed as total Rich List valuation balloons to nearly $350 billion
Australia’s wealthiest people revealed as total Rich List valuation balloons to nearly $350 billion
Australia’s wealthiest people revealed as total Rich List valuation balloons to nearly $350 billion
Australia’s wealthiest people revealed as total Rich List valuation balloons to nearly $350 billion
Australia’s wealthiest people revealed as total Rich List valuation balloons to nearly $350 billion
Australia’s wealthiest people revealed as total Rich List valuation balloons to nearly $350 billion
Australia’s wealthiest people revealed as total Rich List valuation balloons to nearly $350 billion
Australia’s wealthiest people revealed as total Rich List valuation balloons to nearly $350 billion
Australia’s wealthiest people revealed as total Rich List valuation balloons to nearly $350 billion
Australia’s wealthiest people revealed as total Rich List valuation balloons to nearly $350 billion
Australia’s wealthiest people revealed as total Rich List valuation balloons to nearly $350 billion
Australia’s wealthiest people revealed as total Rich List valuation balloons to nearly $350 billion
Australia’s wealthiest people revealed as total Rich List valuation balloons to nearly $350 billion
Australia’s wealthiest people revealed as total Rich List valuation balloons to nearly $350 billion
Australia’s wealthiest people revealed as total Rich List valuation balloons to nearly $350 billion
Australia’s wealthiest people revealed as total Rich List valuation balloons to nearly $350 billion
Australia’s wealthiest people revealed as total Rich List valuation balloons to nearly $350 billion
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