They may not be supermodels or have an Instagram account boasting millions of followers, but these are Australia’s most cashed up people.
Something very interesting to note is that all of them have reinvested their money either into local or international real estate.
Frank Lowy is one of my personal idols – a survivor of the Holocaust, he went on to become one of Australia’s largest landlords whilst Harry Triguboff essentially pioneered high rise living for Australians.
1. Gina Rinehart: $14.8 Billion – The daughter of high profile iron-ore explorer Lang Hancock, Gina took her late father’s bankrupted estate and rebuilt it into something much larger. The biggest piece of her fortune comes from the Roy Hill mining project, which started shipments to Asia in 2015. The mining magnate is also Australia’s third-largest cattle producer, with a portfolio of properties across the country.
2. Harry Triguboff: $9 billion – Born in China to Russian parents, Triguboff came to Australia as a teenager and has since become one of our richest people. He found success in business by providing higher-density living options in Sydney, which has traditionally been dominated by freestanding homes. He has built more than 75,000 apartments!
3. Anthony Pratt: $6.8 billion – Pratt is the executive chairman of Australia’s biggest private company, Visy Asia-Pacific, a packaging and recycling business. The company was set up by his grandfather in 1948 in Melbourne and expanded by his late father, Richard.
4. Frank Lowy: $6.5 Billion – When Lowy sold his Westfield Corp. to a Franco-Dutch group in a $16 billion deal that was Australia’s largest takeover, it was like the end of an era. A Holocaust survivor, Lowy opened his first shopping centre in Sydney in 1959, launching what became one of the world’s largest mall businesses.
5. Scott Farquhar and Mike Cannon-Brookes: $6.4 billion – Both Mike Cannon-Brookes and Scott Farquhar are the cofounders of collaboration software company Atlassian, based in Sydney, Australia. The pair started the company soon after graduating from college, funding it with credit cards. Now, Atlassian, which has no sales team, boasts NASA, Tesla and SpaceX as customers.