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The New Top 5 Richest People in Australia.

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The New Top 5 Richest People in the Australia.

Australia is one of the most expensive countries, so it might come as no surprise that it’s home to some of the world’s mega-rich. Of the 2,755 wealthiest people on the Forbes 2021 list, 44 of them are Australians. Many of these elite figures belong to famously wealthy Australian families who have run multinational companies for generations.

A wealthy country, Australia has a market economy, a high GDP per capita, and a relatively low rate of poverty. In terms of average wealth, Australia ranked second in the world after Switzerland from 2013 until 2018. Australia is the world’s 13th largest economy and has the tenth highest per capita GDP (nominal) at US$55,692. The country was ranked third in the United Nations 2017 Human Development Index. Melbourne reached the top spot for the fourth year in a row on The Economist‘s 2014 list of the world’s most livable cities, followed by Adelaide, Sydney, and Perth in the fifth, seventh, and ninth places respectively.

Since the beginning of time, this great nation has been able to catapult into being the greatest in the industries that make a country grow. Impeccable individuals from Australia have created corporations, industries, franchises, and have undertaken humanitarian purposes to capture the minds of the world.

In today’s article, we will take a look at the top 5 richest people in Australia that have created their wealth through creating employment and rising above the challenges to be who they are now according to Forbes

Without wasting much time let’s dive in.

Rank Name of PersonalityEstimated Net Worth
#1Gina Rinehart$31.06 billion
#2Andrew Forest$27.25 billion
#3Mike Cannon-Brookes$20.18 billion
#4Anthony Pratt$20.09 billion
#5Scott Farquhar$20 billion
The New Top 5 Richest People in Australia

Gina Rinehart

Ms. Rinehart is the Australian richest person with a personal net worth of $31.06 billion. Ms. Rinehart’s Hancock Prospecting is doing extraordinarily well-exporting iron ore to Chinese steel mills. The daughter of high profile iron-ore explorer Lang Hancock, Rinehart rebuilt her late father’s financially distressed company, Hancock Prospecting.

Andrew Forrest

Mining mogul Andrew “Twiggy” Forrest is the second richest person in Australia with a personal net worth of $27.25 billion. Forrest started his first mining company, Anaconda Nickel (now called Minara Resources), in 1994. His mines have benefited greatly from soaring commodity prices due to Chinese demand. Investing in sustainable energy projects, he’s now focused on repositioning the company into a green energy powerhouse to produce steel in Australia.

Mike Cannon-Brookes

Co-Founder of Atlassian, Mike Cannon-Brookes. Mike’s personal net worth is slightly higher than his business partner Scott’s, coming in at $20.18 billion. He and co-CEO Scott Farquhar started the company soon after graduating from college, funding it with credit cards. Atlassian, which has no sales team, boasts NASA, Tesla, and SpaceX as customers. Cannon-Brookes has been a vocal advocate for reducing Australia’s reliance on fossil fuels, in favor of renewable energy sources.

Anthony Pratt

Packing industry heavyweight Anthony Pratt is the fourth richest person with a family net worth of $20.09 billion. He is the executive chairman of Visy cardboard, which was the engine room of Australia’s online shopping boom. The company was set up by his grandfather in 1948 in Melbourne and expanded by his late father, Richard. He also owns Atlanta’s Pratt Industries, the biggest U.S. manufacturer of corrugated cardboard. His sisters Heloise Pratt and Fiona Geminder also hold stakes in Visy and are fellow billionaires.

Scott Farquhar

Co-Founder of Sydney technology group Atlassian, Scott Farquhar is the fifth richest person in the country with a net worth of $20 billion. Atlassian provides software tools that proved invaluable during the work-from-home revolution during the pandemic. Farquhar is co-founder of Pledge 1%, which urges companies to donate at least 1% of equity, employee time, or products to charity.

You can also read more about the top richest people in Australia on Australia’s top list. You can also check out our list for the top 10 richest people in Kenya also here: georgeweb.org

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