In the dynamic landscape of Australia’s economic elite, a select group of individuals stands out as the wealthiest and most influential. From mining magnates to software tycoons, these billionaires have not only amassed vast fortunes but have also left an indelible mark on their respective industries. Join us as we delve into the lives and achievements of the top ten richest people in Australia in 2024, each a titan of industry and innovation in their own right.
10 Richest People in Australia in 2024
1. Gina Rinehart
- World Rank: 53
- Net Worth: $30.8 billion
- Company: Mining
Gina Rinehart is the chairperson of Hancock Prospecting, a mining and agricultural business founded by her father, Lang Hancock. Under her leadership, Hancock Prospecting has grown significantly, focusing on iron ore extraction. Rinehart’s keen business acumen and strategic investments have cemented her position as Australia’s richest individual. Her efforts have not only expanded the family business but have also contributed to Australia’s economic growth.
2. Harry Triguboff
- World Rank: 113
- Net Worth: $16.5 billion
- Company: Real estate
Harry Triguboff, the founder and managing director of Meriton, is a key player in Australia’s real estate market. Known as “High-Rise Harry,” he has developed over 75,000 residential apartments across Australia. Triguboff’s success in the real estate industry is attributed to his ability to understand market demands and his dedication to quality construction. His contributions have reshaped Australia’s urban landscapes and provided housing solutions for thousands.
3. Andrew Forrest & family
- World Rank: 114
- Net Worth: $16.4 billion
- Company: Mining
Andrew Forrest, also known as “Twiggy,” is the founder and chairman of Fortescue Metals Group, one of the world’s largest iron ore producers. Forrest’s journey in the mining industry has been marked by his commitment to sustainability and innovation. He has been a vocal advocate for renewable energy and has launched initiatives to reduce carbon emissions in the mining sector. Forrest’s vision extends beyond mining, with significant philanthropic efforts aimed at education and indigenous communities.
4. Mike Cannon-Brookes
- World Rank: 202
- Net Worth: $10.7 billion
- Company: Software
Mike Cannon-Brookes is the co-founder and co-CEO of Atlassian, a globally recognized enterprise software company. Cannon-Brookes, along with his co-founder Scott Farquhar, has built Atlassian into a leader in team collaboration and productivity software. Their flagship products, Jira and Confluence, are used by millions of developers and project managers worldwide. Cannon-Brookes is also known for his investments in renewable energy and his advocacy for climate action.
5. Anthony Pratt
- World Rank: 213
- Net Worth: $10.4 billion
- Company: Manufacturing
Anthony Pratt is the executive chairman of Visy Industries and Pratt Industries, leaders in sustainable packaging and recycling. Under his leadership, the companies have expanded their operations significantly in both Australia and the United States. Pratt’s commitment to sustainability and innovation in manufacturing has garnered international recognition. His efforts have not only driven the growth of his companies but have also contributed to environmental conservation.
6. Scott Farquhar
- World Rank: 214
- Net Worth: $10.4 billion
- Company: Software
Scott Farquhar is the co-founder and co-CEO of Atlassian, sharing the helm with Mike Cannon-Brookes. Farquhar’s strategic vision and leadership have been instrumental in Atlassian’s rise to prominence in the software industry. Farquhar, like Cannon-Brookes, is also an advocate for renewable energy and has invested in various environmental initiatives. Together, they have created a company culture that emphasizes innovation, sustainability, and social responsibility.
7. Richard White
- World Rank: 339
- Net Worth: $7.9 billion
- Company: Software
Richard White is the founder and CEO of WiseTech Global, a leading provider of software solutions for the logistics industry. White’s innovative approach to logistics software has transformed how goods are transported and managed globally. His flagship product, CargoWise, is used by thousands of logistics companies worldwide. White’s commitment to continuous innovation and customer satisfaction has driven WiseTech’s success and his personal wealth.
8. Vivek Chaand Sehgal
- World Rank: 357
- Net Worth: $7.5 billion
- Company: Auto parts
Vivek Chaand Sehgal is the co-founder and chairman of Samvardhana Motherson Group, a global supplier of automotive components. Under Sehgal’s leadership, the company has grown into one of the largest auto parts manufacturers in the world, serving major car manufacturers globally. Sehgal’s strategic acquisitions and emphasis on quality have been key drivers of the company’s growth and success in the competitive automotive industry.
9. Frank Lowy
- World Rank: 445
- Net Worth: $6.5 billion
- Company: Investments
Frank Lowy, the co-founder of Westfield Corporation, is a prominent figure in the retail and investment sectors. After selling Westfield’s global shopping mall business, Lowy has focused on various investment ventures. His remarkable journey from a refugee to a billionaire highlights his resilience and entrepreneurial spirit. Lowy’s contributions to the retail industry have had a lasting impact on shopping experiences worldwide.
10. Kerry Stokes
- World Rank: 503
- Net Worth: $6.0 billion
- Company: Construction equipment, media
Kerry Stokes is the chairman of Seven Group Holdings, a diversified conglomerate with interests in media, mining, and construction equipment. Stokes’ business acumen has driven the growth of Seven Group, making it a major player in these industries. His media investments, particularly in Seven West Media, have significantly influenced Australia’s media landscape. Stokes’ diversified interests and strategic vision continue to shape his business empire.
Also, check: Top 10 Richest People in the World in 2024
Source: Forbes