Australia is a rich country with a booming economy, so one can expect an abundance of well-to-do people. In the country, we also have people who have done exceptionally great for themselves, society, and the people around them. They are rich and some may even call them wealthy due to the number of assets and businesses they own.
Through their diligence, attention to detail, and ability to think outside the box, these Australian richest people have been able to contribute hugely to the country, and in doing so, they have made Australia one of the desired countries to be.
Among the driving forces of the country’s economy, the financial industry has been pivotal and also a major contributor to GDP growth in recent years. The industry has over a million people working in different sectors such as real estate, insurance, consumer finance, banking, and accounting.
This is one of the reasons why people always considered the country one of the places to live and work. Still, the standard of living is high but there are several opportunities that can transcend anyone past his or her present.
Richest Men in Australia
These 11 people are the richest in Australia, and their net worths total over $100 billion. While their fortunes come from a variety of sources, all of them have made a significant impact on the country.
Rinehart is an Australian businesswoman who, as of March 2017, is the country’s richest. She inherited her father’s mining company, Hancock Prospecting, in 1992 and has since expanded into a major minerals conglomerate. She succeeded him as executive chairman after he died in 1997. She turned a firm with severe financial problems into Australia’s largest private company.
Rinehart has been involved in a number of legal disputes relating to her family and her businesses, most notably a lengthy and highly publicized feud with her children over control of Hancock Prospecting.
In September 2015, she was listed by Forbes as the richest person in Australia, and the fourth-richest woman in the world.
According to Forbes, She is the richest Australian in 2022 with a Net Worth of $14.8 Billion.
Triguboff is an Australian real estate developer and the founder of Meriton Apartments. With a net worth of $9 billion, he is currently the richest person in Australia and the 244th richest person in the world.
Triguboff’s business career began in the early 1950s when he started a small company that supplied building materials to construction projects.
He soon transitioned into property development, and by the 1960s had become one of Sydney’s leading developers. In 1969, he founded Meriton Apartments, which has since grown into one of the largest apartment builders in Australia.
Through his work at Meriton, Triguboff has been a driving force behind Australia’s massive postwar apartment boom, responsible for building roughly 10 percent of Sydney’s total apartment stock.
Anthony Joseph Pratt is one of the respected figures in Australia. The top man is estimated to be worth $12 Billion. He owns and manages Visy Industries, a paper and packaging company in the US. The company name is also known as Pratt Industries. The company alone makes more than $3B yearly from its many facilities scattered across North America.
Born on 11 April 1960 in Melbourne. He is the son of the late Richard Pratt who is more of a role model to him. At the tender age of 15 years, he started getting involved in the family business. He worked in his father’s plastic business. Although the business was small, he was able to see to its growth. At age 25, he took over the business and renamed it to Pratt Industries. Today, the business has taken a considerable amount of the market shares.
Frank Lowy is another Australian with a vast income and assets that automatically make him one of Australia’s richest men. He is a co-founder and former chairman of Westfield Corporation, a big shopping centre company situated in the US, UK and Europe. His net worth is estimated to be A$8.51 billion. It is no surprise as he has recorded many wins in the businesses.
Lowy was born on 22 October 1930 in Slovakia and spent his early days in the slum. Despite his many challenges and the hurdles he had to cross, he was able to build something.
Began his career in 1952 as a migrant in Australia. He started out selling clothes on the streets of Sydney before moving into property development in the 1970s. In 1957, he and fellow entrepreneur John Saunders founded Westfield Development Corporation, which became one of Australia’s largest property developers.
To cut the long story short, much of his success story is tied to Westfield Corporation. He is also the founder of Lowy Institute and chairman of the Institute for National Securities Studies.
It is not every time you see or read about a young man with a net worth of more than $9.4 billion, Mike Cannon-Brooke is one. He was able to amass great fortune through software at age 42.
Mike is a co-founder of Atlassian and also helps in managing the affairs of the company with his business partner, Scott Farquhar. The company is responsible for developing software for communication, project management, and collaboration.
The tech company was established in 2002 and has grown to become one of the most successful startups not in the environment where it operates, but also in the world at large
As of 2018, Scott Farquhar’s net worth is estimated to be $6.4 billion according to Forbes. He is the co-founder and CEO of Atlassian, a software company that he started in his dorm room while attending the University of New South Wales. At the age of 42, he is one of the youngest billionaires in the world.
Farquhar has credited part of his success to Atlassian’s no-nonsense culture. This type of culture has helped Atlassian become one of the most successful software companies in the world. Scott Farquhar is married to Kim Jackson.
Andrew Forrest is a self-made billionaire who has made his fortune in the mining industry. He is currently the chairman and founder of Fortescue Metals Group, one of the world’s largest diversified resources companies. In addition to his business ventures, Forrest is also a notable philanthropist, having pledged more than $1 billion to various causes over the course of his life.
At age 460, Forrest is one of the oldest billionaires in the world. He has been married twice and has four children. His net worth is estimated at $4.3 billion.
John Gandel is an Australian businessman who has a net worth of $4 billion. He made his fortune in retail and is the co-founder and major shareholder of Gandel Group, a company that owns shopping malls across Australia. Gandel is 87 years old and shows no signs of slowing down. He still actively works in the business and is known for being a demanding boss.
Despite his wealth, Gandel is not flashy or ostentatious. He lives in a modest home in Melbourne and donates millions of dollars to charity each year. He has said that he doesn’t need more money and that he’s happy to give it away to help others.
James Packer is an Australian businessman and investor who has a net worth of $3.6 billion. He made his fortune in the casino industry, founding the Crown Resorts empire. He is now retired from active business but remains on the board of directors for several companies. At 54 years old, Packer is one of the youngest billionaires on this list.
Lindsay Fox is a self-made billionaire who has built a fortune in the logistics and real estate industries. He started his first business at the age of 19, and has since gone on to become one of Australia’s wealthiest individuals.
Linfox is a private logistics company that operates across eight countries in the Asia Pacific with 5,000 trucks and 10 airports.
The founder Lindsay Fox has handed over day-to his management to son Peter who took over as executive chairman after he left the operation five years ago leaving behind him two other sons:
Andrew handles property while David manages aviation services such as crop dusting or airlifting goods into buildings from above-using helicopters.
Fox is 84 years old and has a net worth of $3.5 billion. He is still active in his businesses and remains one of Australia’s most influential entrepreneurs.
Bianca Rinehart & siblings
The four children of Gina Rinehart are equal beneficiaries to the Hope Hancock Trust, which owns 23.45% shares in Hancock Prospecting with Bianca serving as a trustee for her brother John’s company after he launched a legal battle against his mother stating she had stripped valuable assets from the trust.