Gina Rinehart officially Australia's richest person with $34 billion personal fortune & More News Here

Mining magnate Gina Rinehart has as soon as once more been topped Australia’s richest person, as a growth in iron ore costs lifted her personal internet wealth to $34 billion.

Of the highest 200 richest, a staggering 137 at the moment are thought of billionaires – together with the youngest ever rich-lister 25-year-old Robert Ferguson who constructed a cryptocurrency and gaming platform with his brother James.

A full listing of the highest 10 richest Australians may be seen on the backside of the article.

The greatest winners had been these working in iron ore, property and know-how, with the general wealth of the highest 10 richest individuals accounting for 40 per cent of all the Rich List.

Rich List co-editor Julie-anne Sprague mentioned this yr’s listing proved there was alternative for youthful – and older – Australians to make obscene quantities of money.

“This year’s Rich List has the widest gap between the nation’s youngest and oldest entrepreneurs, proving age is no barrier to wealth creation. Of the 13 new people joining the list, seven are aged 40 or under,” she mentioned.

“There are some notable departures this year as rising inflation and interest rates resets investor appetite for growth stocks. Some bigger names to fall off the list include Zip Co’s Larry Diamond who’s wealth has plunged from $598 million to less than $70 million over the past year.

“As some fortunes fall, others rebound. Flight Centre’s Graham Turner and spouse Judy Turner, who operates their Spices Retreats, rejoin the listing after a two-year hiatus.”

There was also movements within the top 10 over the past 12 months.

Andrew “Twiggy” Forrest came in at number two, as iron ore prices lifted his personal wealth to $30.72 billion. 

He was followed by the tech gurus in Mike Cannon-Brookes ($27.83 billion) and Scott Farquahr ($26.41 billion) while cardboard king Anthony Pratt was named the country’s fourth richest with a personal wealth of $24.3 billion.

Despite spending approximately $100 million on the 2022 federal election, Clive Palmer also made a strong presence in the list, coming in at number seven with a personal wealth of $19.55 billion.

Palmer’s wealth largely stems from a lucrative royalties deal which Chinese mining giant CITIC in 2006, which was also floated on the tide of soaring iron ore prices.

Rich List co-editor Michael Bailey said an interesting facet of this year’s list was the recent stratospheric growth of technology stocks, that then saw their fortunes reverse in just a matter of weeks.

“It’s been fascinating to look at the Rich List rollercoaster experience this yr, with fortunes primarily based on software program rising exponentially then falling simply as dramatically because the Rich List was being finalised,” he said. 

“Technologists have joined the miners as a brand new supply of volatility on the listing.”

 Australia’s top 10 richest people*

1. Gina Rinehart – $34.02 billion (up from $31.06 billion) – Resources, Agriculture 

2. Andrew Forrest – $30.72 billion (up from $27.25 billion) – Resources 

3. Mike Cannon-Brookes – $27.83 billion (up from $20.18 billion) – Technology 

4. Scott Farquhar – $26.41 billion (up from $20 billion) – Technology 

5. Anthony Pratt & family – $24.30 billion (up from $20.09 billion) – Manufacturing 

6. Harry Triguboff – $21.25 billion (up from $17.27 billion) – Property 

7. Clive Palmer – $19.55 billion (up from $13.01 billion) – Resources 

8. Melanie Perkins and Cliff Obrecht – $13.80 billion (up from $7.98 billion) – Technology 

9. Ivan Glasenberg – $12.20 billion (up from $7.39 billion) – Resources

10. Frank Lowy – $9.27 billion (up from $8.51 billion) – Property

*The Financial Review Rich List 2022