This yearâs edition of Australiaâs top 250 richest people saw a number of well-known wealthy individuals climb up the ladder.
Published by The Australian, the annual rich list tracks the fortunes of tech entrepreneurs along with mining and property magnates.
Below, we take a look at the names whoâre hitting the charts and cementing their places as the countryâs most wealthy businesspeople.
Who makes up Australiaâs Top 5 Rich List?
The annual study, showing which Australians are making financial strides, tallied riches past the half a trillion dollar mark this year.
The average wealth of each person who made the cut stood at around $2.08 billion. The list included 131 billionaires.
Of the top 250 names, 30 were women and the average age of each individual was 65 years of age.
Here are the list’s top five:
For the third consecutive year, Gina Rinehart took the mantle with an estimated wealth of $32.64 billion. Her source of wealth came from iron ore mining alongside investments in agriculture (beef) and media. She is the founding member of Pilbara iron ore mine Roy Hill.
In second position, and not far behind, Andrew Forrest has acquired $31.77 billion through his holding in ASX-listed Fortescue Metals Group Ltd (ASX: FMG).
Furthermore, Forrest also owns cattle stations in outback Australia which supplement his income.
Moving into third spot, up from fourth last year, Anthony Pratt (and family) has $27.77 billion. Regarded as one of Australiaâs most generous businessmen, Pratt made his wealth from Visy Industries â a packaging, paper, and resource recovery company that employs more than 7,000 people worldwide.
Slipping in to fourth is Mike Cannon-Brookes who is co-founder and co-CEO of United States-based software giant Atlassian. His wealth came to $26.2 billion. Cannon-Brookes is often referred to as the âaccidental billionaireâ given how he aimed to earn a mere $48,500 per year.
And, lastly, at number five, Cannon-Brooke’s business partner Scott Farquhar is the other co-founder and co-CEO of Atlassian. His wealth is projected to be $25.99 billion.
The post Which ASX rich listers have grown their fortunes over the past year? appeared first on The Motley Fool Australia.
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More reading
- What’s the outlook for the iron ore price in 2023?
- Down 12% in a month, is the Fortescue share price a buy?
- Here are the 3 most heavily traded ASX 200 shares on Friday
- Hereâs why the Fortescue share price is falling 6% into the dirt today
- These ASX 200 mining shares are getting buried. What’s happening?
Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Atlassian. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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