Gina Rinehart remains the richest Australian – topping the 2015 BRW Rich 200 list with her $14 billion fortune. It’s the fifth consecutive year Rinehart tops the list, although her wealth has actually fallen by $5.99 billion. Here’s the rest of the BRW goss on the high-rollers.
No. 2 on the list is Anthony Pratt and family. It’s been a big 12 months for the Pratt family as they hit second spot after a $3.02 billion rise in wealth. Anthony’s US-based business, Pratt Industries, is the biggest Australian-owned employer in the United States and 2015 saw Pratt break through the $10 billion mark for the very first time.
Another new entrant to kick through the $10 billion ceiling is this year’s No. 3, Harry Triguboff. The Sydney apartment developer has enjoyed the biggest rise in wealth ($4.73 billion) on this year’s list, to give him a total wealth of $10.23 billion. Property Surging property prices in a hot market has given Triguboff’s wealth its big boost. Property remains the dominant sector on the list with 53 of the 200 people making most of their money in this sector. Not surprisingly, many people who made the list (and their money) in other industries, have poured the proceeds into property development or management businesses.
Westfield giant Frank Lowy ranked fourth this year after having grown his enormous fortune by $700 million. After the restructure of Westfield was backed by the sharemarket in the past year, Lowy now has a total wealth of $7.84 billion.
A fall in the price of iron ore and price earnings ratios of key competitors has seen Rinehart’s wealth fall, even through she still tops the BRW list. Rinehart’s wealth fall is thought to be only short-term as commodity prices remain depress, but it is expected her huge Roy Hill project in Western Australia will start shipping iron ore this year.
Hong-Kong based billionaire Hui Wing Mau rounds out the top five. Hui earned an MBA at the University of South Australia in the early 1990s and has Australian citizenship. His Shimao Property Holdings has extensive projects in China and also holds Sydney CBD office property.
Other Interesting BRW 200 Rich List Facts:
- Total wealth of the BRW Rich 200 list is up $16.81 billion to $193.61 billion.
- The average wealth per person on the BRW Rich 200 list rises to $974 million, up from $968 million last year.
- There are 19 new names on the list this year, and 10 new billionaires
- The 49 billionaires on the list is record number
- Some of the people who dropped off the 2015 BRW Rich 200 list did so because they were unable to reach the record $286 million cut-off, which is up $36 million on last year.
- There are 17 women on the 2015 BRW Rich 200 list, compared with 14 last year
- There are 5 female billionaires
- The highest ranked debutants are Leonie Baldock and Alexandra Burt (#22 and #23) with combined wealth of $1.7 billion. Baldock and 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.
- 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.
- Another notable debutant is Tony Denny (#179), who debuts with $320 million wealth. Denny left Australia after the 1987 stockmarket crash and has made his fortune selling used cars in central Europe with his AAA Autos business.
www.brw.com.au/lists/rich-200/2015
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