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Australia's richest person's whopping new $40 billion wealth revealed

The usual suspects like mining magnate Gina Rinehart and tech billionaire Mike Cannon-Brooke featured on the list.

Gina Rinehart has once again been crowned the richest person in Australia for the fifth year in the row. The mining magnate’s wealth grew by a whopping $3 billion in the last year, making her the first Aussie to break through the $40 billion barrier.

The Australian Financial Review’s 2024 Rich List is here and it found the country’s 10 wealthiest people are now worth a collective $222.6 billion, with nearly $7 billion added since last year. And there’s many familiar faces in the mining and tech world who made the list.

Meriton founder Harry Triguboff was named the second richest person, missing out on first place by $14 billion. He is worth an estimated $26.49 billion.

Richest Australians
Billionaires Gina Rinehart, Mike Cannon-Brookes and Clive Palmer are among the richest Aussies. (Source: Getty/AAP)

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Atlassian co-founder Mike Cannon-Brookes and his former partner fashion designer Annie Cannon-Brookes were in joint third place. They are estimated to have combined assets of $24.38 billion dollars, which are yet to be divided in their split.

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Fourth place went to Anthony Pratt, the executive chairman of paper and packaging giant Visy Industries. He has an estimated wealth of $23.30 billion.

Scott Farquhar, who recently stepped down as co-CEO of Atlassian, was named the fifth richest Aussies with a net worth of around $22.88 billion.

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A year after their split, Nicola Forrest surpassed former husband and Fortescue chairman Andrew “Twiggy” Forrest in the rich list this year.

With an estimated net worth of $16.92 billion, she is now the second richest woman in Australia.

  1. Gina Rinehart - $40.61 billion

  2. Harry Triguboff - $26.49 billion

  3. Mike Cannon-Brookes and Annie Cannon-Brookes - $24.38 billion

  4. Anthony Pratt - $23.30 billion

  5. Scott Farquhar - $22.88 billion

  6. Clive Palmer - $22.75 billion

  7. Nicola Forrest - $16.92 billion

  8. Andrew Forrest - $16.76 billion

  9. Ivan Glasenberg - $14.86 billion

  10. Melanie Perkins and Cliff Obrecht - $13.62 billion

The wealth of Gina Rinehart, Andrew Forrest and Harry Triguboff has more than doubled since 2020, according to analysis released this year from Oxfam. The charity found that the three Aussies made an average of $1.5 million per hour.

The total wealth of Australian billionaires increased by more than 70 per cent or $120 billion in that same period.

Around the world, Oxfam found billionaires were nearly $5 trillion wealthier than in 2020. At the same time, five billion people worldwide have been made “life-threateningly poorer".

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