Young Rich List wealth takes $11b hit after tech plunge. The state needs more than one voice to guide it forward and you can help with a donation of any size to InDaily. LH Perry & Sons is a family-owned fuel distribution company, founded in 1949. Image: The Australian. 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. He is now back as FMGs executive chairman to try to fulfil that green energy dream. The fall pushes Adams below Kerry Stokes and into 12th position with a $6.9 billion paper fortune, albeit a figure more than treble a year ago, on a new understanding of how much equity he holds as Canvas chief product officer. Gold Trip wins, followed by Emissary and High Emocean; Not a good day for Macquaries quants or Chanticleer; polar blast and hail didnt deter the punters (and the politicians). To put that in perspective, the average Australian is worth roughly $522,032, so a combined net worth of the same sized group would be about of $130.5 million. Sector: Energy | Revenue: $5.1b | Last Years Ranking: 1. The average age of a Rich Lister is 67.7, up from 66 last year. Hains, who died on Sunday morning aged 92, has been remembered by his family and fellow Rich Listers for both his self-made business success, and personal warmth. 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. From mining magnates to technology leaders, healthcare pioneers and retail superstars, Australias richest women have made their mark this year. Sector: Agriculture | Revenue: $48.5m | Last Years Ranking: 67. Sector: Energy | Revenue: Not meaningful | Last Years Ranking: Unranked. The billionaire still has more than $3bn of property assets after converting a sheep paddock into a huge office precinct. He collects hundreds of millions in royalties from CITIC annually, a situation that has often been the subject of legal action. The popular veteran stockpicker will take a carrot and stick approach to the LICs he has targeted that are trading below their asset value. He remains Glencores biggest individual shareholder, with its rising share price accounting for his increased wealth this year. Out now: The definitive list of Australias wealthiest people, now in its 40th year. The rise in iron ore, property and solid gains in manufacturing - and the fact that tech was still well up. Sector: Waste Disposal | Revenue: $245m | Last Years Ranking: 30. Founded by current executive director Joe Collins in 1996, the Adelaide headquartered company now has offices across eight locations including New York, London, Manchester, Melbourne, Sydney, Adelaide, Perth and a Global Service Delivery Centre in Colombo, Sri Lanka. Alcidion Group Limited is a health informatics company providing clinicians with decision support tools. 2 of 11 Attribution: Yadid Levy. Discovery Parks Holdings (GDay Group), SA 'Copper Kingdom' World Heritage bid a step closer, Local Beresford Wines Shiraz sweeps London wine awards, All eyes on Reserve Bank interest rate call, 'This must end': Govt moves on child vaping, A South Australian entity with an Adelaide ownership register, or a South Australian operated entity; or. Peter Cochrane Management (Cochranes Transport), 62. It has been another big year for Rinehart, who maintains her number-one position on the Richest 250. Flight Centre boss Graham Turner is optimistic about the recovery of the wider publics travel habits even if he believes it will take some time to get back to pre-Covid levels. Gina Rinehart topped the Richest 250 list overall for 2022, with a massive $32.64 billion in wealth. Cannon-Brookes has made plenty of headlines for his renewable energy pursuits, all while the share price of his software firm Atlassian has fallen markedly in the past year. Vintage Energy is an oil and gas exploration and energy company. Palmer has also battled WA Premier Mark McGowan in court and has also tried, unsuccessfully so far, to launch new coal-mining projects in Queensland. 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. Sector: Information technology | Revenue: $19.5m | Last Years Ranking: Unranked. Sector: Energy | Revenue: Undisclosed | Last Years Ranking: Unranked. 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. 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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. The overall wealth of the 10 richest people represents 40 per cent of the record $554.9 billion held by this years Rich Listers. 54) has been removed from the list. Since 1870, the family business has processed wool and traded it across the globe. Jonathan Hallinan, the developer behind Melbournes distinctive Shadow Play skyscraper, has died at 47 after a battle with cancer. 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. The more established players built wealth this year. Pratt has a market share of about 7 per cent in America, where he has said steady growth is forever, but dominates the Australian industry. Pubs may be going through changing times but veteran hotel mogul Arthur Laundy reckons they still make up the fabric of Australia. The RAA, established in 1903 to serve the motoring-related needs of South Australians, provides insurance, security, travel, finance, motoring and road safety products and services. Can restaurant king Justin Hemmes take on Melbourne? Arrowcrest is the parent company of automotive and farming machinery companies ROH Wheels, John Shearer, Unicast, Tristar, NonFerral, Kockums Industries and Brownbuilt. America still leads the world, with 735 billionaires worth a collective $4.7 trillion, including Elon Musk, who tops the World's Billionaires list for the first time. That should stand them in good stead, and their valuation is only falling in line with other tech firms. He used to work at Hungry Jacks. Billionaire Clive Palmer says he is paying bucket loads of tax after pocketing hundreds of millions of dollars in dividends from Mineralogy. Yet as some make their way back, others tumble out in spectacular fashion. Copyright Nationwide News Pty Ltd. All times AEST (GMT +10:00). Bionomics is a biopharmaceutical company involved in the development of treatments for central nervous system disorders such as anxiety, depression and Alzheimers disease. The differences between Andrew Forrest and Gina Rinehart on energy shine a light on the dilemma facing a nation blessed with oil, gas, and the sun and winds needed for renewables. The Australian's 2022 edition of The List - Australia's Richest 250, to be released on . Clean Seas is a commercial producer of kingfish and a pioneer in the countrys emerging aquaculture industry. The Gday Group is Australias largest regional accommodation provider with 280+ properties across Australia, including 60+ owned and managed holiday parks. For Mecca founder Jo Horgan, theres nothing so viscerally delightful as going into a store and playing with products. 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 total valuation of Australia's 100 richest people aged 40 and under is diminished, but you still need $35 million to get on the list . The company has maintained the rage over the Labor governments industrial relations changes while handing down a huge return for billionaire Gina Rinehart. Rank State or territory GSP (million A$, 2003-04) GSP (million A$, 2013-14) Net growth (million A$) Growth rate per year; 1: The spectacular success of Gina Rineharts Roy Hill mine has been almost 30 years in the making, with some nailbiting moments along the way | THE LIST: Australias Richest 250. The Standout Large Employer Award was won by Peregrine Corporation, the operator of the states network of On the Run service stations. Meeting the need for economy-wide, unified and trusted public services. Support independent Parafield Airport is South Australias premier general aviation airport and is a major world-standard international training airport. Hickinbotham is a major residential developer, building homes in and around Adelaide. 16 in 2021. That shows just how successful Farquhar has been as a technology entrepreneur alongside friend and business partner Mike Cannon-Brookes at software firm Atlassian. 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. Sector: Food and Beverage | Revenue: $313m | Last Years Ranking: 38. Harry Triguboff, the 89-year-old behind the Meriton apartment empire, increased his wealth by almost $4 billion to $21.25 billion. Thats less than the $16.5 billion they achieved when the Young Rich List was published in October but still almost double the wealth they held on the 2021 Rich List. You can access the latest stories from the journalists youre following here. At #1 Gina Rinehart tops the list with a massive $32.64 billion wealth. The veteran Queensland property developer will wait and see what effects COVID-19 might have on the sector. Has Aussie billionaire created the next tech unicorn? The tech sector also delivers the list its youngest-ever member in 25-year-old Robert Ferguson who, alongside his 30-year-old brother James at No. The billionaire owner of Australias global success story had to get creative when his team hit massive issues getting toys from China. Sector: Other | Revenue: $58.9m | Last Years Ranking: 56. Sector: Healthcare | Revenue: $3.7m | Last Years Ranking: 60. That should stand them in good stead, and their valuation is only falling in line with other tech firms. Victoria comes in a close second with 71, then Queensland, 32, Western Australia, 21, South Australia, 5, Northern Territory, 2, and Tasmania and the ACT both have 1 each. If the Rich List was published today, Mrs Rinehart and Dr Forrest would have their noses in front, with Dr Forrest's wealth sitting at an estimated $28.1 billion, just ahead of Mr Cannon-Brookes . Small-cap stock guru David Paradice sold out of headline maker GameStop late last year, potentially missing out on a billion-dollar position, but he says hes still sleeping well at night. Dennis Bastas points to his engineering brain and an appetite for discomfort to explain his extraordinary deal-making success. Hancock Prospectings flagship Roy Hill mine delivers a $3.3 billion dividend despite weaker iron ore prices. Sector: Food and beverage | Revenue: $52.8m | Last Years Ranking: Unranked. Last year, Larry Diamond was sitting on a $598 million treasure trove, riding high on a global expansion of his Zip Co. Now he is in the crosshairs of the markets evisceration of the buy now, pay later sector. The Manly offering is part of family succession planning and follows Robert Magids sale of the Harbour Rocks Hotel in Sydney and the Hotel Lindrum in Melbourne. Here are the current richest ten Aussies and what the AFR estimates are their net worth: Gina Rinehart with a net worth of $34.02 billion, up from $31.06 billion in 2021. See the full Australias Richest 250 list, Billionaire central: The top 5 richest suburbs, Meet the 30 women who have made their mark. She doesnt. Galipo Foods is a large-scale supplier to the foodservice industry. That means it is exposed to a slowdown in apartment sales, which is happening as Triguboff gets increasingly frustrated with the slow pace of government approvals for his Sydney projects. The liquidity opportunity for the unlisted companys investors comes in the wake of VGWs first regulatory challenge in its prime US market. Perth industrial landholder Michael Hodgson and Bob Ell, another major industrial property player, both enjoy big jumps in their values Hodgson is now worth $3.08 billion, up from $2.34 billion and Ell, worth $2.42 billion, is up from $1.98 billion. The past years have been tough for most, but exponentially profitable for others. Sector: Mining | Revenue: $1.7b | Last Years Ranking: 3. Sector: Agriculture | Revenue: Undisclosed | Last Years Ranking: 33. Sector: Food and beverage | Revenue: Undisclosed | Last Years Ranking: Unranked. Sector: Professional services | Revenue: $185m | Last Years Ranking: 46. Silk began with one clinic in South Australia offering a range of cosmetic services, and now has locations across the country. But its not a complete tech wreck. Full list of names. The Melbourne apartments developer says the top end of the market is holding up, but policies need to change or construction jobs will be lost. Sector: Automotive | Revenue: $219.5m | Last Years Ranking: Unranked. The highest ranking newcomer Sam Prince came in at #112 with his Mexican-themed takeaway company Zambrero, and a wealth of $1.18 billion. Meriton has vast reach across property, including the nations highest number of hotel rooms via its serviced apartment business, more than 14,000 investment apartments and close to 12,000 units in development. Ahrens Group is a construction, engineering and mining services company, delivering a range of project services from design, steel fabrication and procurement through to construction and project delivery. He pulled out of a $346 million bid for renewable firm Genex Power with US private equity firm Stonepeak in January. Tania Austin, the owner of Decjuba, is one of the most impressive new names on The List Australias Richest 250 this year. Established in 1984 when Fred Shahin purchased a small BP service station in Woodville Park, Peregrine is now the largest private company in SA with revenues approaching $3 billion in 2020-21. Australias wealthy are involved in charity pursuits at a much earlier stage of their career than ever, with young tech elites leading the way. Hancock was started by Rineharts late father Lang Hancock in 1955, though its main asset then was an iron ore royalty stream. Frank Lowy - $9.27 billion. Andrew Forrest - $31.77 billion (up from $29.61 billion) 4 / 10 3. Shes one of Australias most successful and most wealthy retailers. Camms offer business software with integrated solutions for projects and strategy to help clients manage risk and optimise organisations. The sixth-generation family-owned company has a diverse range of agricultural assets and is one of Australias biggest wool producers. Love them, hate them, or envy them, Australias richest people have been announced for 2022 by The Australians The List. Mike Cannon-Brookes (No.3); Robyn Denholm (120); Peter Freedman (192); Gina Rinehart (1); Sam Arnaout (63); Cliff Obrecht and Melanie Perkins (8). Sector: Building and construction | Revenue: $83 million | Last Years Ranking: 52. Escient is an employee-owned digital and business advisory firm. Farquhar broke the Australian property record in January, when it was revealed he was shelling out $130 million to buy the Sydney harbourside home known as Uig Lodge in Point Piper. This is also known as Online Behavioural Advertising. 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. The group provides risk advice and general insurance broking. Sector: Building and construction | Revenue: $460m | Last Years Ranking: 28. November 7, 2022 by yournetworthnet. SeaLink is a tourism and transport company, operating across Australia, with more than 9000 staff and six million customers annually. Melbourne property developer Michael Buxton is enjoying the fruits of his labours as he ponders how best to hand on his wealth. Theres a new Territorian among Australias wealthiest people this year as the bush makes a comeback while tech fortunes fall. Adelaide Airport is the fourth-largest domestic airport and sixth-largest international airport in Australia, processing more than 7.7 million passengers annually. Sector: Engineering | Revenue: Undisclosed | Last Years Ranking: 75. 51 on the list this year. The data,. This years edition of The List - Australias Richest 250 will show how mining and technology are now the countrys two most successful sectors. Royal Automobile Association of South Australia, 15. Pratt owns Pratt Industries in the US and shares ownership of Visy in Australia with sisters Fiona Geminder and Heloise Pratt. Founded in 1886, Angove Family Winemakers is a 5th generation, family-owned winery that produces premium South Australian wines, mainly from the McLaren Vale region. Peter Freedman on the cover of AFR Magazines 2022 Rich List issue. Billionaire Scott Farquhar is worth $21.95bn. South Australian Graduate. This year is crucial for the iron ore magnate, whom the market is watching to see if he can start delivering on his green energy dream. Sector: Mining | Revenue: Not meaningful | Last Years Ranking: Unranked. The Rising Star Award is presented to Core Lithium, which jumped a huge 70 places from 86 last year to No. 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. The tech duo were, for a few months in late 2021, the richest in the land as a soaring Atlassian share price and a falling iron ore price caused a switch at the top since last Mays Rich List. Thomas Foods International is Australias largest 100 per cent family-owned meat-processing company. Love them, hate them, or envy them, Australia's richest people have been announced for 2022 by The Australian 's The List. Beston Global Food Company Limited exports a range of food products, focusing on dairy and meat. Farquhar sits in fourth spot with $26.41 billion, up from $20 billion. Sector: Professional services | Revenue: Undisclosed| Last Years Ranking: 70. Between tech entrepreneurs, design moguls and real estate tycoons, Australia's richest young people are worth a combined total of $30 . Mark Riley and Ailish Delaney / Centrelink. The Sydney bar tsar reveals what his plans are for expanding his empire beyond his home turf. They are amassing fortunes at an incredible rate. If you are applying for South Australian state nomination for a 190 or 491 visa, you will need to see if your occupation is available on South Australia's Skilled Occupation List. Ruslan Kogan isnt entirely joking when he admits his $1.5bn business is really a data analytics company masquerading as an online retailer. Sector: Automotive | Revenue: $406.8m | Last Years Ranking: 45. Although he did have to give up skiing recently. Sector: Professional services | Revenue: Undisclosed| Last Years Ranking: 53. Sector: Retail | Revenue: $96m | Last Years Ranking: Unranked. Australia's richest people have been revealed and their combined worth skyrocketed to $520 billion over 2021. 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. Duxton Broadacre Farms offers investors a diversified portfolio of Australian farms. He also donated more than anyone else on the list, giving more than $109.6 million. Perkins and Obrecht, who are married, occupy eighth place with a combined wealth of $13.8 billion. Customs Agency Services is an international freight forwarding and customs brokerage organisation. But what really excites the Decjuba founder is her ambition to change millions of lives. Sector: Energy | Revenue: Undisclosed | Last Years Ranking: 97. Sector: Information technology and equipment | Revenue: Undisclosed | Last Years Ranking: Unranked. *KIPT has changed its name to Kiland since this list was originally published, Sector: Infrastructure and transportation | Revenue: $60.7m | Last Years Ranking: 80. Terramin is a base and precious metal development company with advanced zinc and gold projects in South Australia and Algeria. So who has bought one? With mining and technology industries boosting these loaded individuals to the top, some of these wealthy names wont come as a surprise. RBA expected to hit pause. Sector: Food and beverage | Revenue: Undisclosed | Last Years Ranking: 73. Billionaire property developer and Richest 250 lister Lang Walker cant handle people using COVID as an excuse.. Sector: Mining | Revenue: Not meaningful | Last Years Ranking: 78. Atlassian shares surged for years, but have plunged in the last 12 months along with most other tech stocks. The business made a $450 million pre-tax profit in 2022. Debutantes on The List are tech gurus, healthcare experts and some veterans of business whove made big money during the pandemic. Rinehart, the founder of Pilbara iron ore mine Roy Hill, has her grip firmly on first place with an estimated $34.02 billion fortune, up from $31.06 billion in 2021. Perkins and Obrecht, who met at university and married two years ago, formed Canva in 2012 and remain at its helm. The technology revolution has arrived, changing the face of the ranks of Australias wealthiest individuals.

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