Living in the area is Australia's richest person, Gina Rinehart, media tycoon Kerry Stokes and mining billionaire Twiggy Forrest.
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.
AFR Rich List 2023: The ten richest Australians for 2023, ranked | Gina Rinehart, Andrew 'Twiggy' Forrest, Anthony Pratt, Harry Triguboff, Clive Palmer, Mike Cannon-Brookes.
Australians wanting to be in the country's top 1% for wealth need to have an individual net worth of US$5.5 million ($8.3 million), Knight Frank's 2023 Wealth Report has found.
Americans need $5 million in net worth to join the 1% | Fortune.
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.
Mining magnate Gina Rinehart is Australia's richest woman with an estimated $36.7 billion fortune, followed by fellow West Australian Nicola Forrest, who debuts on the list with a $16.5 billion fortune thanks to her increased activity within investment group Tattarang, including its recent investment in fashion label ...
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.
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.
Forbes' real-time data shows that as of June 2023, there are 47 Australian billionaires on the list of the world's richest people.
Top 1% of World's Earners Own 82% of Wealth Generated in 2017: Report.
The person who holds the most land in this pastoral-lease data, by far, is the Western Australian mining magnate Gina Rinehart, who controls 9.2m hectares, or 1.2% of Australia's landmass, through three different corporate entities. The biggest corporate landholder is the ASX-listed Australian Agricultural Company.
Commonwealth Bank of Australia was the largest Australian bank as at H1 2022, by value of total assets. The value of the Commonwealth Bank of Australia's assets amounted to over 1,149 billion Australian dollars.
Generation X and Millennial Households Are Expected to Inherit the Most Over the Next 25 Years.
Household wealth
Research has found that couples aged between 50 and 70 years have the highest median net worth (nearly $900,000), while singles aged between 30 and 40 years have the lowest median net worth ($50,000).
Baby boomers have the highest household net worth of any US generation. Defined by the Federal Reserve as being born between 1946 and 1964 (currently in the ages between 59 and 77), baby boomers are in often in the sunset of their career or early into retirement.
1. Gina Rinehart. Mining magnate Gina Rinehart is Australia's richest woman with an estimated $36.7 billion fortune.
The richest woman in the world this year hails from France, just like the richest man, Bernard Arnault. With over US$80 billion in the bank, Bettencourt Meyers' wealth is derived from her and her family's 33 per cent stake in L'Oréal. The 69-year-old currently serves as the chairwoman of its holding company.
The average annual income range for the Australian middle class is between AUD 46,000 and AUD 140,000.
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.
Luxury Mogul Takes Top Spot. The world's richest person is France's Bernard Arnault, the chief executive of LVMH. With 75 brands, the luxury conglomerate owns Louis Vuitton, Christian Dior, and Tiffany.