Gina Rinehart still on top of BRW rich list at $14b
HANCOCK Prospecting chairperson Gina Rinehart has, for the fifth consecutive year, topped the BRW Rich 200 list with an estimated fortune of $14 billion.
Ms Rinehart's wealth fell by $5.99 billion, due to a fall in the iron ore price and price earnings ratios of key competitors. Rinehart's wealth may fall in the short-term as commodity prices remain depressed though it is expected her huge Roy Hill project in Western Australia will start shipping iron ore this year.
Sydney apartment developer Harry Triguboff has enjoyed the biggest rise in wealth on the list, $4.73 billion, to have total wealth of $10.23 billion. Surging property prices in a hot market has given Mr Triguboff's wealth its big boost.
The highest ranked debutants are Leonie Baldock and Alexandra Burt (#22 and #23) with combined wealth of $1.7 billion. Ms Baldock and Ms Burt are the daughters of the late Michael Wright, the son of prospector Peter - one-time business partner of Lang Hancock, Gina Rinehart's father.
Another notable debutant is Tony Denny (#179), who debuts with $320 million wealth. Mr Denny left Australia after the 1987 stockmarket crash and has made his fortune selling used cars in central Europe with his AAA Autos business.
There are 49 billionaires on this year's list - the most ever. They include 35 year olds Mike Cannon-Brookes and Scott Farquhar. They are the founders of software company Atlassian and are worth a combined $2.27 billion. Atlassian could be headed for a stockmarket listing later in the year, which could add to the pair's wealth.
Mr Packer's wealth has also fallen due to a drop in share price for his Crown Resorts casino and entertainment group. He is in seventh (#7) position on the list with $6.08 billion wealth, down from $7.19 billion a year ago.
Property remains the dominant sector. Of the 200 people on the list, 53 make most of their money in the property sector. Many on the list that have made money in other industries have poured the proceeds into property development or management businesses.
The full list will be viewable here from 6am, Friday.
TOP 5 WOMEN
- Gina Rinehart - $14.02 billion
- Vicky Teoh - $2.31 billion*
- Leonie Baldock, Alexandra Burt - $1.7 billion
- Angela Bennett - $1.54 billion
TOP 5 MEN
- Anthony Pratt & family - $14.76 billion
- Harry Triguboff - $10.22 billion
- Frank Lowy - $7.87 billion
- Hui Wing Mau - $6.89 billion
- Ivan Glasenberg - $6.14 billion
QUEENSLAND TOP 5
- John Van Lieshout - $1.47 billion
- Clive Palmer - $1.40 billion
- Bob Ell - $1.32 billion
- Chris Wallin - $1.30 million
- Reg Rowe - $871 million
OVERSEAS TOP 5
- Hui Wing Mau - $6.89 billion (Hong Kong)
- Ivan Glasenberg - $6.14 billion (Switzerland)
- Michael Hintze - $1.75 billion (London)
- Huang Bingwen & family - $1.50 billion (China)
Ye Lipei - $1.26 billion (China)