Between tech entrepreneurs, design moguls and real estate tycoons, Australia's richest young people are worth a combined total of $30 . Australia's richest people have been revealed and their combined worth skyrocketed to $520 billion over 2021. Palmer derives most of his income from a controversial deal with CITIC Pacific over the huge Sino Iron project in Western Australias Pilbara mined on land he gained control over in the 1980s. We also unveil the winners of the individual awards. Cochranes is an express logistics business, servicing South Australia, Mildura and Broken Hill. Sector: Mining | Revenue: Not meaningful | Last Years Ranking: 86. With a combined net worth of $520 billion, it has been record-breaking for 250 of Australias most wealthy people, up from $470.07 billion in 2021. The Dicker Data founder is one of dozens of Richest 250 members to have lost money this year. See how the race unfolded here. Sector: Information technology and equipment | Revenue: $24.5m | Last Years Ranking: 90. Kilbirnie Investments has a series of automotive dealerships and horticulture assets, predominantly in South Australia and Victoria. The business made a $450 million pre-tax profit in 2022. WiseTech co-founder Richard White managed an exquisitely timed equity sell-down by offloading a parcel of shares just as they raced to a record $60. Endeavour boosts sales in third quarter update. Sector: Professional services | Revenue: Undisclosed| Last Years Ranking: 70. Its a similar story for another tech team. The hottest trophy asset for Australias rich elite right now is a $100m jet. Thanks for signing up to the InDaily newsletter. The stock has slumped and their overall wealth tumbles to $430 million. He remains Glencores biggest individual shareholder, with its rising share price accounting for his increased wealth this year. Of the 250 people who made the list, the average wealth sat around AUD$2.08 billion, up from AUD$1.88 billion last year. The combined wealth of the country's 50 richest swelled to $213 billion, a hefty 70% jump from 2019 when we last published the list. That should stand them in good stead, and their valuation is only falling in line with other tech firms. The duo met at the University of NSW, starting Atlassian and later floating it on the NASDAQ in 2015. Fyfe is a land, resource and infrastructure development consultancy specialising in engineering, environmental, planning and surveying services for a variety of industries. Sector: Energy | Revenue: $1.5b | Last Years Ranking: 4. Now worth a combined $717m, this duo moved north to start a charitable program after founding one of Australias most successful technology companies. Australias rich lost a lot of money in 2022 and it could get worse for some billionaires this year, but others could buck the trend. Pratt this year will open his biggest ever factory, a new paper mill in Kentucky that he says will be 50 per cent bigger than any other he has built. Santos is a major oil and gas producer, supplying Australian and Asian customers with a portfolio of liquefied natural gas, pipeline gas and oil assets. Finsbury Green is a print, managed services and logistics company based in Adelaide. Hes building a real-life tower of power - and just like the sweaty YouTube dancer who inspires him, tech billionaire Scott Farquhar just needs enthusiastic followers to join his movement. With a combined net worth of $520 billion, it has been record-breaking for 250 of Australia's most wealthy people, up from $470.07 billion in 2021. The wealthy can be highly secretive. It covers a total area of 402,903 and has a population of 1,706,500. . Suburbs with highest-density of the painfully rich are: Toorak, 20, Point Piper, 12, Vaucluse, 11, and Mosman Park, 6. Adelaide Airport is the fourth-largest domestic airport and sixth-largest international airport in Australia, processing more than 7.7 million passengers annually. Theres a new Territorian among Australias wealthiest people this year as the bush makes a comeback while tech fortunes fall. Flinders Port Holdings is a privately-owned port operator with seven ports in South Australia, also offering hydrographic survey services. In #2 fellow mining magnate Andrew Forrest comes in at a close second with a wealth of $31.77 billion. Some of the countrys biggest property developers give a snapshot of the market now and what should be hot or not as the nation recovers from COVID-19. Sector: Food and beverage | Revenue: $147m | Last Years Ranking: 55. The average age of members is 65, with 98-year-olds Len Ainsworth (Aristocrat Leisure and Ainsworth Game Technology . Sector: Resources | Revenue: $29.8m | Last Years Ranking: 41. The total valuation of Australias 100 richest people aged 40 and under is diminished, but you still need $35 million to get on the list. Sector: Building and construction | Revenue: $84m | Last Years Ranking: 58. Included in The List are 131 billionaires, 29 newcomers, and 30 women. The group provides risk advice and general insurance broking. Rex Minerals Limited is a mineral exploration and development company. Markets plunged in March last year, but it has been smooth sailing ever since for some of the biggest names in Australian business. RBA expected to hit pause. Combined, the businesses have more than $10 billion in annual revenue. The nations miners, including Chris Ellison, enter the new year building on their huge fortunes, while its top tech entrepreneurs are nursing eye-watering losses. Established in 1996, RJE provides multi-disciplinary engineering and construction services to complex projects across a range of industries. Sector: Information technology and equipment | Revenue: $28.7m | Last Years Ranking: 43. Founded in 1993, the waste services company provides recycling, soil and waste management services, and produces alternative fuels. The state needs more than one voice to guide it forward and you can help with a donation of any size to InDaily. He also donated more than anyone else on the list, giving more than $109.6 million. The countdown finishes today with the full list, including the top 20 which features some newcomers. It is still one of the biggest profits for a private Australian company in recent memory, and shows how successful Rinehart has been with the huge Roy Hill mine that she had to negotiate a complex $US7.2 billion debt package to start a decade ago. The heiress and mining magnate built her fortune on iron ore, and is also the second largest cattle producer in Australia. Sector: Agriculture | Revenue: $1.7b | Last Years Ranking: 11. Thomson Geer is a large corporate law firm with 560 staff in offices in Sydney, Melbourne, Brisbane, Perth and Adelaide. See the full Australias Richest 250 list, Billionaire central: The top 5 richest suburbs, Meet the 30 women who have made their mark. This is also known as Online Behavioural Advertising. Billionaire property developer and Richest 250 lister Lang Walker cant handle people using COVID as an excuse.. Canva founders Melanie Perkins, Cliff Obrecht and Cameron Adams collectively lost billions as a 17 per cent slide in the Nasdaq punished valuations, even for tech companies that are privately held. In #8 and #9 husband-and-wife Canva co-founders slide into the top 10 with a company valued at more than $55 billion. Sector: Energy | Revenue: $131.6m| Last Years Ranking: 17. Cooper Energy is an energy company that discovers, develops and commercialises oil and gas in Australia. Amazon Prime customers will soon pay $9.99/month for a subscription, as new data shows consumers are buying more streaming platforms than they cancel. The Sydney bar tsar reveals what his plans are for expanding his empire beyond his home turf. Most Rich Listers live in NSW (79), followed by Victoria (60) and Queensland (19). 51 on the list this year. *The company has changed its name to Kelsian Group since the original 2021 list was published. For Mecca founder Jo Horgan, theres nothing so viscerally delightful as going into a store and playing with products. Maughan Theim Automotive is an automotive motor vehicle company which runs a variety of dealerships in South Australia. There is, of course, a more traditional way to make plenty of money: property. While he checks the share price most days, he says he cant get too worried about it. Hes spent $46m on yachts and $32m on private jets, as financial records show Clive Palmer reaped about $1bn in the past year. Its primary target is the Great White Kaolin project located near Poochera on the Eyre Peninsula, Sector: Building and construction | Revenue: $520m | Last Years Ranking: 25. Triguboff also celebrates Meritons 60th anniversary this year. Skilled Migrants. The volatility inherent with tech firms, whose founders tend to be the younger members of the list, is also borne out in the omission of Kain Warwick, who was marching strongly towards the Rich List gates when he featured on the cover of Octobers Young Rich List. He is building more in Queensland and Melbourne, and expanding his serviced apartment business as travel increases. The vitamins groups shares slumped on flat profits as consumers hunted down the cheapest price amid tough cost pressures. Perkins and Obrecht still have big paper fortunes, and say Canva is profitable and hiring more staff around the world. Gina Rinehart topped the Richest 250 list overall for 2022, with a massive $32.64 billion in wealth. Beach has a core focus on the resource-rich Cooper Basin. Sector: Food and Beverage | Revenue: Undisclosed | Last Years Ranking: 71. The worlds richest people lost $2.1 trillion between them last year. Doneilyn Pty Ltd, trading as Sarah Group, is a locally-owned private company that derives its revenue from the provision of construction services. Young Rich List wealth takes $11b hit after tech plunge. Poker machine king Len Ainsworth once had a hole blown in his factory roof by a bomb. Leigh Creek Energy Limited is developing a coal gasification project, the Leigh Creek Energy Project, located 550km north of Adelaide. While she hasnt moved rank in the last year, she has added another $1.58 billion to her name. She doesnt. The face of philanthropy is changing, as wealthy donors draw on values often inculcated in them as children and align themselves with like-minded organisations. The state needs more than one voice to guide it forward and you can help with a donation of any size to InDaily. Formed in 1961, Beach Energy is an oil and gas exploration and production company headquartered in Adelaide. Andrew Forrest with a net . Harry Triguboff, the 89-year-old behind the Meriton apartment empire, increased his wealth by almost $4 billion to $21.25 billion. Adbri is a construction materials and lime producer, established in 1882, with approximately 1400 employees and operations in every state and territory in Australia. Debutantes on The List are tech gurus, healthcare experts and some veterans of business whove made big money during the pandemic. Micro-X produces, designs, develops and manufactures a range of ultra-lightweight, mobile x-ray imaging systems for medical and security applications. Community CPS Australia (Beyond Bank), 24. But the tech sector was later sold off and the iron ore price rebounded. List of richest countries in the world 2022: Top 10 richest countries in the world at a glance. That has included a major shareholding in AGL, where he managed last year to have four candidates he put forward for the board elected amid an effort to convince the energy giant to accelerate a transition to renewables. That should stand them in good stead, and their valuation is only falling in line with other tech firms. NSW can claim the highest number of people from the list with 98 residents. Buddy Technologies Limited produces data aggregation, management and control platforms for the internet of things and connected devices. For the top 10 richest Australians for 2022, scroll below. Mining magnates and property barons are still doing well on The List, but technology titans like Mike Cannon-Brookes and Melanie Perkins are the big losers this year. Sector: Agriculture | Revenue: $39.7m | Last Years Ranking: 39. The rise in iron ore, property and solid gains in manufacturing and the fact that tech was still well up overall has widened the gap between the top of the list and the rest. Elders is an agribusiness company, operating across rural and regional Australia. This year it became Australias third most valuable privately held tech company, attracting investment from Singapores Temasek and Chinas Tencent. SeaLink is a tourism and transport company, operating across Australia, with more than 9000 staff and six million customers annually. But they were paid $2.7 billion in Block equity and, as such, about $1 billion has been wiped from their wealth, which falls more than 40 per cent to $1.52 billion each this year. Sector: Waste Disposal | Revenue: $245m | Last Years Ranking: 30. Meet the 250 mining magnates, property kings, retail queens, manufacturing giants and technology titans in the countrys most extensive annual survey of wealth. Kennetts is a family-owned company that delivers major commercial construction projects. He collects hundreds of millions in royalties from CITIC annually, a situation that has often been the subject of legal action. Alice Car Centre is an entity of the Peter Kittle Motor Company, which runs a series of automotive dealerships. A high-stakes trial involving two billionaires and royalties from Rio Tinto iron ore mines is set to go ahead. Sector: Energy | Revenue: Undisclosed | Last Years Ranking: Unranked. That accounts for much of the drop in his estimated wealth, though both he and cofounder Scott Farquhar should reap more than $1 billion each from a steady selldown of a small portion of their Atlassian shares over the year. An elite clutch of start-up founders is getting richer more quickly than ever, adding $30bn since March as wealth shifts from old industries to new sectors. The value of the tokens has plunged, and Warwicks wealth slides to about $470 million. Tim Gurner says developers that want to start big projects in Sydney or Melbourne are ignoring a complete systemic change. The sixth-generation family-owned company has a diverse range of agricultural assets and is one of Australias biggest wool producers. Sector: Mining | Revenue: $1.7b | Last Years Ranking: 3. From mining magnates to technology leaders, healthcare pioneers and retail superstars, Australias richest women have made their mark this year. LH Perry & Sons is a family-owned fuel distribution company, founded in 1949. He has built the biggest philanthropic foundation, Minderoo, among Australian billionaires, as well as a $5 billion investment business, Tattarang, that owns RM Williams, property and cattle interests. Farquhar sits in fourth spot with $26.41 billion, up from $20 billion. Help using this website - Accessibility statement, Cost is the enemy: Brett Blundys road to Best & Less, Why Tania Austin wouldnt retire, even after pocketing $50m, Clive Palmer launches $300b claim against Australia, Rich Lister property developer dead at 47, Rich Lister among Tribe Brewing creditors owed $61m, Clive Palmer: I paid $19.5m Medicare levy for no bed, Virtual Gaming Worlds launches $251m buyback, no sign of IPO, Billionaire Bruce Gordon taps pub boom with Scarborough offering, This billionaire says the key to selling products is simple, Blackmores boss says the smart shopper is on the rise, Happy Feet creator dances on to Rich List after Netflix deal, How to avoid a Rinehart-style family trust dispute, The electric-vehicle retail strategy thats proving a winner, James Packer, Lloyd Williams lead tributes to David Hains, Ellison says MinRes takeover offer for Norwest is no brainer, Resources boom is great for Rinehart (and one high-school dropout), How to lose $2.1 trillion in a year: 12 bad months for billionaires, Rinehart loses latest round in royalties fight, Rineharts Hancock Prospecting records $5.8b profit, Rinehart reaps $2.3b dividend from Roy Hill, Rineharts Atlas Iron keeps up IR attack as it delivers $225m dividend, Rinehart warns of heat or eat choices as energy costs surge, McGowan taps mining giants for $1b community fund, Back to the drawing board for Macquarie (and Chanticleer), Young Rich List wealth takes $11b hit after tech plunge, Delivering connected digital government services, Why Amazon can afford to jack up Prime prices by 40pc. The Richest And The Poorest States Of Australia. The total wealth held by the nation's richest 100 self-made entrepreneurs aged 40 or under has plunged 27 per cent . The returnees include Flight Centre founder Graham Turner. Has Aussie billionaire created the next tech unicorn? Sector: Agriculture | Revenue: $17.8m | Last Years Ranking: 81. You can access the latest stories from the journalists youre following here. Escient is an employee-owned digital and business advisory firm. Independent Pub Group Holdings operates licensed hotels and retail liquor outlets in South Australia. Outside Ideas is a large-scale landscaping works, civil construction, structural concreting, and maintenance provider. How does your net worth compare to the fortunes of the wealthiest people in South Australia, AU?. The Meriton managing director has featured prominently on the list of Australia's wealthiest people for years and in 2022, he's made it back. InDailys ranking of the states top 100 companies by market capitalisation and revenue covers the 2020-21 financial year. Ruslan Kogan isnt entirely joking when he admits his $1.5bn business is really a data analytics company masquerading as an online retailer. South Australia's top 100 companies: The full list for 2021 - InDaily Today we reveal the top 20 companies in InDaily's South Australian Business Index - our annual review of the top private and public companies in the state - and the winners of the four awards categories. Australias biggest names in buy now, pay later, Nick Molnar and Anthony Eisen, managed to pass on the baton of woe to new owner Block, by selling their company in the countrys biggest M&A deal. The real art is in putting things together in a better way. Sector: Food and beverage | Revenue: Undisclosed | Last Years Ranking: 73. The list is published annually in January in an online format and updated daily, also online. That the Bras N Things and Sanity Music founder could get away with an offer for the budget retailer less than its previous closing price is a sign of his stellar reputation. Australias richest person has warned the nations pensioners and others on low incomes will be forced to make difficult decisions as electricity costs rise. Australian retail phenomenon Culture Kings is about to launch its biggest play, with its 30-something founders taking on the US market. Royal Automobile Association of South Australia, 15. At the time, his wealth was estimated at $879 million thanks to the value of tokens underpinning his Synthetix derivatives trading protocol. Hancock was started by Rineharts late father Lang Hancock in 1955, though its main asset then was an iron ore royalty stream. But he once tried to join the Army, which would have meant Australias biggest tech company may not have been born | THE LIST: Our richest 250. Nova Group is the umbrella entity for a series of professional services firms operating in the areas of defence, aerospace, mapping, energy and utilities, software, communications and transportation. Australias youngest billionaire is Melbournes 27-year-old crypto gambling magnate Edward Craven, who debuts on The List - Australias Richest 250 with an estimated $2.01bn fortune. If anyone can defy the doom and gloom forecasts for the property sector, it is Triguboff. Post jobs and search for local talent on 7NEWS Jobs >>. The total wealth on the 2022 list hit a combined $520.20 billion, a 10 per cent increase on the previous year's haul, with the average wealth sitting at $2.08 billion. Sector: Healthcare | Revenue: $3.7m | Last Years Ranking: 60. Sector: Food and beverage | Revenue: Undisclosed | Last Years Ranking: 23, Drakes Supermarkets is the largest independent grocery retailer in Australia, Sector: Food and beverage | Revenue: $280m | Last Years Ranking: 22. Tic:Toc is a finance technology company that launched in 2017 to provide cheaper home loans using proprietary technology. Your contribution goes directly to helping our journalists uncover the facts. Sector: Information technology and equipment | Revenue: $479m | Last Years Ranking: 37. The Shahin family are South Australia 's wealthiest representatives on the inaugural edition of the The List Australia 's Richest 250, published in the Weekend Australian on Saturday. Established in 1946, Argo is South Australias leading listed investment company. It has more than 3000 employees across about 150 OTR sites in the state. Heres why. Peter Coopers quest for freedom led him to a profound change he says not only makes him a better investor, but opens the way for a much bigger life. Sector: Energy | Revenue: Undisclosed | Last Years Ranking: 97. Aerometrex provides high-resolution spacial data products and services using aerial mapping technology. Advertisement Support independent JournalismDonateSubscribe News News Local Galipo Foods is a large-scale supplier to the foodservice industry. Queensland billionaire Clive Palmer owns dozens of mansions on the Gold Coast and plenty of gold. With an estimated net worth of $23.8 billion, Australian mining magnate Gina Rinehart is the wealthiest person in Australia, that's according to CEOWORLD magazine's Australia Rich List Index For 2021. Sector: Other | Revenue: $44.9m | Last Years Ranking: 79. SA miner Oz Minerals won the Revenue Growth category after increasing its income by more than $700 million in 2020-21 on the back of strong copper and gold prices and increased production at its new Carrapateena mine in the states far north. Bitcoin retreats. Scammers had already claimed $150k in her name, Centrelink payment boost for 227,000 Australians, Australias biggest fuel retailer 7-Eleven up for sale, 14 million jobs will be eliminated in the next five years, new report finds, Delete it immediately: Aussies warned over DHL email, Bucket list: The holiday experience you have to try before you die, Residents bizarre message to neighbours over house renovation divides internet, How much super you need to retire comfortably revealed. Sector: Professional services | Revenue: $300m | Last Years Ranking: 34. Sector: Energy | Revenue: $5.1b | Last Years Ranking: 1. Uniti Wireless is a broadband internet provider, servicing homes and businesses across Australia. Shares are poised to edge lower. Pratt owns Pratt Industries in the US and shares ownership of Visy in Australia with sisters Fiona Geminder and Heloise Pratt. Gina Rinehart tops Australia's richest while Clive Palmer doubles his wealth, Canva creator Melanie Perkins cracks the top 10 and all 250 on the list grow their fortunes by $50BILLION in just a year The company now has a $1 billion share portfolio and large cattle and agricultural holdings. Havilah Resources engages in the exploration of gold, base metals, and other mineral deposits in Australia. The results have been startling. Sector: Professional services | Revenue: $185m | Last Years Ranking: 46. Sector: Infrastructure and transportation | Revenue: Undisclosed | Last Years Ranking: 77. Help using this website - Accessibility statement, delivers the list its youngest-ever member. Sector: Information technology | Revenue: $19.5m | Last Years Ranking: Unranked. The rise in iron ore, property and solid gains in manufacturing - and the fact that tech was still well up. A senior journalist in our newsroom, Julie-anne has covered politics, property, agribusiness, retail and stockmarkets in both the UK and Australia. The tech downturn could put plans for Canva to go public, probably in the US, on the backburner for now. Thats boosted Cannon-Brookes fortune to $27.83 billion, up from $20.18 billion. Badge is a privately-owned construction group delivering commercial projects across Australia from offices in Adelaide, Brisbane, Maroochydore and Perth. Dennis Bastas points to his engineering brain and an appetite for discomfort to explain his extraordinary deal-making success. Tech unicorn Laurence Escalante, who got his first job at Hungry Jacks, is now a billionaire at just 39 thanks to the stunning success of his online game business. See The Lists newest members. Shes one of Australias most successful and most wealthy retailers. The Australian losers included Melanie Perkins and Mike Cannon-Brookes Jan 2, 2023 Devon Pendleton December 2022 Federal election Ten top AFR Magazine reads in 2022 This year, writers went. Sector: Healthcare | Revenue: $400m | Last Years Ranking: 18. Australian Vintage Limited is a leading Australian wine company with a fully-integrated wine business model including vineyards, boutique and bulk wine production, packaging, marketing and distribution.

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