The United States is the country with the most billionaires, with a total of 724 billionaires. China is the country with the second-highest number of billionaires, with 698 individuals. India is the third country with the most billionaires with 237 billionaires.
Forbes' real-time data shows that as of May 2023, there are 40 Australian billionaires on the list of the world's richest people.
The valuations of Gina Rinehart ($37.41 billion) and Andrew Forrest ($33.29 billion), the richest and second-richest Australians for the fourth year in a row, surged 10 per cent and 8 per cent respectively as listed-market analysts re-rated their outlook for red Pilbara dirt.
African economy
As of now, the continent is home to 138,000 HNWIs with a wealth of USD 1 million or more, along with 328 centi-millionaires valued at USD 100 million or more and 23 US dollar billionaires.
Australia is a highly developed country with a mixed economy. As of 2023, Australia was the 13th-largest national economy by nominal GDP (gross domestic product), the 19th-largest by PPP-adjusted GDP, and was the 20th-largest goods exporter and 24th-largest goods importer.
According to Credit Suisse's latest global wealth report, the median net worth of an Australian adult increased by US$28,450 to reach more than US$273,000 in 2021. This put Australia ahead of Belgium's US$267,890 and New Zealand's US$231,260, which came in second and third in global median wealth.
Australians are the richest people in the world, with a median wealth three times that of the average American, a new report has shown.
No suburb in the country features a greater concentration of members of The List – Australia's Richest 250 than Toorak, where Melbourne's wealthiest families have gathered for decades. Think historic looking mansions guarded by large hedges set back from the street to ensure privacy.
Gina Rinehart
Gina Rinehart has kept the top spot on the rich list once again. The mining magnate has an estimated $37.1 billion. Her wealth derives from the privately owned mining company Hancock Prospecting, founded by her father Lang Hancock.
When measured by average wealth, Australia is fourth behind Switzerland, the United States and Hong Kong, reflecting that wealth is more evenly distributed in Australia than in those countries. Australia had about 2.2 million millionaires (calculated in US dollars) in 2021, up from 1.8 million millionaires in 2020.
Gina Rinehart: $43.17 billion
With a net worth of an excruciating $43 billion, Rinehart is not only the richest woman in Australia - by a large margin - she is also the eighth-richest woman in the world and among the wealthiest humans alive.
Baby Boomers own half of Australia's wealth, despite being just one-fifth of the population.
Australia has plentiful supplies of natural resources, including the second largest accessible reserves of iron ore in the world, the fifth largest reserves of coal and significant gas resources. For a long time, commodities have made up a sizeable share of our exports.
With 126,900 millionaires, Sydney made it to number 10 with the report noting especially strong growth in wealth in the Harbour City over the past 20 years, making it Australia's wealthiest city.
The data show the median household had a net worth of $579,200 in 2019-20. This figure captures the total value of assets such as real estate, shares and superannuation, and deducts a household's liabilities such as credit card debt and home loans.
First world countries included Australia, Canada, France, Germany, Italy, Japan, New Zealand, Norway, the United Kingdom, and the United States, among others. Today, the term has fallen somewhat out of favor, as critics argue it is an outmoded model for understanding national development.
New South Wales: a diverse economy and high income
Among all the states and territories in Australia, New South Wales is considered the richest state. It has the largest economy, a diverse range of industries, and a higher-than-average income, which contribute to its status as the wealthiest state.
Australia is internationally renowned for cricket, and the Australian Men's Cricket Team has a higher percentage of successful matches than any other international team. However, although Australia is particularly good at cricket, Australians also love rugby, netball, swimming and surfing and more.
MANSA MUSA. Mansa Musa (1280–1337) is often referred to as the wealthiest person in history. Even though no man could ever count his wealth, experts believe that it was as much as $400 trillion.
Mansa Musa or Musa I of Mali is considered one of the richest people ever. Musa was the ninth emperor of the Mali Empire, one of the prosperous Sahelian kingdoms that developed along the trans-saharan trade routes in the later medieval period.
African emperor Mansa Musa is thought to be the richest person who ever lived and his wealth was simply “indescribable” and “incomprehensible”.