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.
A familiar face towards the top of the Rich List, Andrew 'Twiggy' Forrest has retained his spot as Australia's second-richest person and the country's wealthiest man.
Australia's richest person, Gina Rinehart, is the daughter of iron-ore explorer Lang Hancock. Rinehart made her wealth rebuilding Hancock Prospecting, becoming chair in 1992 when her father died.
Forbes' real-time data shows that as of June 2023, there are 48 Australian billionaires on the list of the world's richest people.
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.
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: $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.
Clockwise, from top left: Gina Rinehart, Keith Urban and Nicole Kidman, Andrew Forrest, Harry Triguboff, Sam Prince, Margaret Rose, Cliff Obrecht and Melanie Perkins.
Vivek Chaand Sehgal (born 1 February 1957) is an Indian-Australian billionaire businessman and entrepreneur. Sehgal is the chairman and co-founder of Samvardhana Motherson Group, an auto parts manufacturer.
Success Story: Vivek Chaand Sehgal is a well-known billionaire businessman in both Australia and India.
Countries With Most Billionaires
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.
Australian Financial Review's annual rich list. Mining magnate Gina Rinehart has once again been crowned Australia's richest person, as a boom in iron ore prices lifted her personal net wealth to $34 billion.
The highest number of rich-listers live in the 2088 postcode in Sydney - which includes Mosman and Spit Junction - with 19,707 people earning $188,324, on average. In comparison, there were just 559 people in the 3944 Portsea postcode in Victoria's Mornington Peninsula, earning an average of $229,805 per year.
The city approximately has 126,900 high-net-worth individuals (USD 1 million+), 184 centi-millionaires (USD 100 million+) and 15 billionaires (USD 1 billion +).
The mining magnate Gina Rinehart is Australia's biggest landholder, controlling more than 9.2m hectares, or 1.2% of the entire landmass of the country, according to data compiled by Guardian Australia.
Princess Charlotte has been refered as "the richest kid in the world" due to her status as a member of the British royal family, which is one of the wealthiest and most prominent royal families in the world.
Since 2021, Francoise Bettencourt Meyers is listed as the world's wealthiest woman.
Wolseley Road in Point Piper is Sydney's most expensive street, attracting Australia's wealthiest residents with its luxurious properties and waterfront views.
The most expensive house in Australia is the Scottish baronial mansion, Uig Lodge, which was sold for $130 million in 2022 in Sydney's Point Piper. It is one of the most luxurious houses in Australia. The average house price in Point Piper is currently around $9.9 million.
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. It's also predicted to reach the top 5 wealthiest cities in the world by 2040.