Australia is a prosperous country, with a strong economy. The standard of living is high, and there are many opportunities for success. Despite this, only a select few manage to become incredibly wealthy.
Whether through business acumen or philanthropy, these individuals have helped make Australia one of the most desirable places in the world to live.
The Financial industry is the key driving force of Australia’s economy. It is the largest and most developed in the country, and it has been a major contributor to GDP growth in recent years.
The Financial industry is made up of a number of different sectors, including banking, insurance, real estate, and accounting. These industries are all critical for facilitating economic activity and helping businesses grow. They are also important sources of employment, with more than 1 million Australians working in the financial sector.
Some of the key drivers of growth for the Financial industry include population growth, rising incomes, and increasing foreign investment. The metals, mining, energy, healthcare, and utility industries are also important contributors to GDP growth.
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.
n 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 Pratt is the Chairman and CEO of Pratt Industries, the largest privately-owned paper and packaging company in the United States. With a current net worth of $6.8Billion, Pratt Industries generates revenue exceeding $3B annually from its more than 100 manufacturing and recycling facilities across North America.
Born in Melbourne, Australia in 1957, Pratt started working at his father’s small plastics manufacturing business at the age of 15. He soon recognized the potential for expansion, and by age 25 had taken over the company, renamed it Pratt Industries, and began aggressively expanding into new markets.
Today, Pratt Industries employs more than 15,000 people worldwide and is a major contributor to both the American economy and environmentally responsible practices.
Frank Lowy is an Australian businessman and entrepreneur. He is the co-founder of Westfield Corporation, one of the world’s largest shopping mall operators. His net worth is estimated at $6.5 billion, making him one of Australia’s richest people.
Lowy began his career in 1952 as a migrant to Australia, arriving in Sydney with just £10 in his pocket.
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.
Westfield Corporation was floated on the Australian Stock Exchange in 1960 and went on to become one of the world’s leading shopping mall operators. In 2014, Lowy opened Westfield Stratford City, the largest shopping center in Europe.
At the age of only 42, Mike Cannon-Brookes has already accumulated a net worth of $6.4 billion through his work in the software industry. He is the co-founder and co-CEO of Atlassian, a company that creates software for project management, communication, and collaboration.
Since its inception in 2002, Atlassian has become one of the most successful tech startups in the world, and Cannon-Brookes has been praised for his role in its growth. In 2012, he was named Ernst & Young’s Entrepreneur of the Year, and in 2016 he was ranked #8 on Forbes’ list of Australia’s Richest People.
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.