Tasmanian Times

The individual has always had to struggle to keep from being overwhelmed by the tribe. If you try it, you will be lonely often, and sometimes frightened. No price is too high for the privilege of owning yourself. ~ Friedrich Nietzsche

The individual has always had to struggle to keep from being overwhelmed by the tribe. If you try it, you will be lonely often, and sometimes frightened. No price is too high for the privilege of owning yourself. ~ Friedrich Nietzsche

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Rich List reveals record-breaking Australian wealth

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Full list out Friday May 26, 2017

An overview of the 2017 Financial Review Rich List will be published online at afr.com.au at 3.00pm this Thursday and then in full at 6.00am on Friday. The full Rich List will also be available as a special lift-out edition inside the Wealth issue of The Financial Review Magazine available in The Australian Financial Review this Friday, May 26.

Afr.com.au will present in-depth analysis of the trends behind the list of Australia’s richest 200 individuals and profiles of some of the newcomers, including videos and interactive graphics.
The lift-out inside the Wealth issue of AFR Magazine will include features on some of the high-profile members of the Financial Review Rich List.

RICH LIST REVEALS RECORD-BREAKING AUSTRALIAN WEALTH

• Anthony Pratt tops the Financial Review Rich List with $12.60 billion. Pratt’s Visy cardboard box manufacturing and recycling business dominates Australia, but his rising wealth is mainly due to the huge growth of Pratt Industries in the United States.
• Harry Triguboff is #2 on the list with wealth of $11.45 billion. Although apartment development tycoon Triguboff falls from #1, his wealth is a record figure.
• Gina Rinehart is #3 with wealth of $10.41 billion, up from $6.06 billion last year as commodity prices improve.
• Frank Lowy is #4 on the list with $8.26 billion wealth.
• Glencore boss Ivan Glasenberg is #5 with $6.85 billion wealth.
• This year is the first in the 34-year history of the Rich List that three names are above the $10 billion mark.
• Total wealth of the Rich List is up to $233.1 billion, from $197.3 billion last year.
• The average wealth per person on the Rich List rises to a record $1.16 billion, up from $987 million last year.
• There are 22 women on the 2017 Financial Review Rich List.
• The combined wealth of the top 5 men on the list is more than double that of the top 5 women.
• There are 8 female billionaires.
• There are 10 new names on the list this year.
• The 60 billionaires on the list is record number.
• Departures from the Rich List include the late James Fairfax and Michael Crouch.
• Nicole Kidman is the highest entertainer of this year’s Rich List at #97, with wealth of $347 million.

Cardboard box manufacturer and recycling tycoon Anthony Pratt tops the 2017 Financial Review Rich List with $12.60 billion, thanks to a big year for his Pratt Industries business in the United States.

Pratt was #2 on the Rich List in 2016 behind Sydney apartment developer Harry Triguboff. The pair swap places this year, despite Triguboff’s wealth rising to $11.45 billion.

Pratt was last #1 on the list of Australia’s 200 wealthiest people in 2009, just months after his father Richard Pratt died. He has since more than doubled the size of the Visy and Pratt Industries businesses in Australia and the US.

Gina Rinehart comes in at #3 on the Rich List with wealth of $10.41 billion, jumping from $6.06 billion last year on the back of commodities price rises and iron ore production. Her estranged daughter Bianca Rinehart, who controls 23 per cent of Hancock Prospecting, is also among the billionaire ranks (#15, $2.74 billion).

The Rineharts are two of 22 women making appearances on the 2017 Rich List, with 10 of them hitting the billionaire mark. The Rineharts, whose combined wealth equals $13.15 billion, are the top two women on the list and the richest people in their respective states (Perth and Brisbane).

Fourth on the Rich List is Frank Lowy, whose wealth is derived from his shopping centre giant Westfield. Lowy’s wealth is steady at $8.26 billion.

Glencore boss Ivan Glasenberg rounds out the top 5, with wealth of $6.85 billion – up from $3.33 billion a year ago as the commodity trading giant’s share price surges following a tough few years.

The 2017 Rich List’s highest ranked debutant is Tim Roberts, son of the late Multiplex founder John Roberts. Tim Roberts, aged 46, debuts at #62 with wealth of $986 million. He operates the Perth Jet Centre and hedge fund manager Warburton Group.

Nicole Kidman is the highest entertainer of this year’s Rich List at 97, with wealth of $347 million

There are 60 billionaires on the 2017 Rich List – the most ever there has been in the 34-year history of the list.

The combined wealth of the top 5 male Rich Listers more than doubles the combined wealth of the top 5 female Rich Listers, totalling $46 billion compared with $18.37 billion.

Property remains the dominant sector on this year’s list. Of the 200 people on the list, 58 make most of their money in the property sector. Many on the list that have made money in other industries have poured their proceeds into property development or management businesses.

Property is followed by investment (21), resources (18), retail (18) and financial services (16), with agriculture, manufacturing, technology, media, healthcare, entertainment, travel, transport, telecommunications and education also featuring in the list.

AFR

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