Financial Review names record-breaking richest Aus...

Financial Review names record-breaking richest Australians in 2017

rich list 2017

The Australian Financial Review has released its record-breaking Rich List for 2017, naming the nation’s most wealthy people. The combined wealth of the people featured on the Rich List is a staggering $233.1 billion, which is a marked increase on last year’s total of $197.3 billion. This year is the first time in the history of the Rich List that there are three names above the $10 billion level, and also the first time that the list features a record-breaking 60 billionaires.

The extremely affluent list is topped this year by Anthony Pratt, who claims a fortune of $12.6 billion. Pratt’s Visy cardboard box and recycling company has long secured his status amongst the richest Australians, however the company’s growth in the US assured him of the number one spot. Pratt has been named the richest person in Australia once before in 2009, but he has more than doubled the size of his business since then. Pratt was the second richest person in Australia last year, behind Sydney property developer Harry Triguboff, who has this year dropped to second place with his fortune of $11.45 billion. Unsurprisingly, property remains the dominant industry on this year’s list. Of the 200 wealthy people, 58 made their money in property.

Gina Rinehart is Australia’s third richest person, with her mining wealth resting at $10.4 billion after a $6.06 billion increase due to rising commodities prices and iron ore production. Rinehart is one of 22 women on this year’s Rich List and one of only 8 female billionaires.

The overall top five richest people in Australia are:

  1. Anthony Pratt and family (manufacturing) – $ 12.6 billion
  2. Harry Triguboff (Property) – $11.45 billion
  3. Gina Rinehart (Resources) – $10.4 billion
  4. Frank Lowy (Property) – $8.26 billion
  5. Ivan Glasenberg (Resources) – $6.85 billion

Combined wealth: $49.57 billion.

The five richest men in Australia are:

  1. Anthony Pratt and family (manufacturing) – $ 12.6 billion
  2. Harry Triguboff (Property) – $11.45 billion
  3. Frank Lowy (Property) – $8.26 billion
  4. Ivan Glasenberg (Resources) – $6.85 billion
  5. Andrew Forrest (Resources) – $6.84 billion

Combined wealth: $46 billon

The combined wealth of the top five men on the list more than doubles that of the top five women, a comparatively paltry $18.37 billion. The five richest women in Australia are:

  1. Gina Rinehart (Resources) – $10.4 billion
  2. Biance Rinehart (Resources) – $10.4 billion
  3. Vicky Teo with David Teoh (Telecommunications) – $1.91 billion
  4. Angela Bennett (Resources) – $1.76 billion
  5. Alexandra Burt and Leonie Baldcock (Resources) – $1.55

Combined wealth: $18.37

It also also worth noting that more of the rich people on the list reside in Sydney than any other Australian city, with 64 rich people compared to Melbourne’s 59 wealthy residents.

The entire enviable list, further broken down into industries and with more detailed biographies, can be viewed online at The Australian Financial Review or in the print edition of the publication.