Business Reviews - News Stories |
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BRW Rich List Review - Australia's Richest People
2006 |
Australia
has found itself with it's very first female
billionaire, with Gina Rinehart cashing
in on the mining boom in Australia. Rinehart
inherited her iron ore business from her
late father Lang Hancock, but she has also
shown that she is quite capable of overcoming
the challenges and pitfalls that come with
being at the head of a profitable company.
Not only has she had to struggle with the
burden of debt during the past 14 years,
but she also had to overcome the very public
battle with the widow of her father, Rose
Porteous. She is now reaping the rewards
for her hard work with an estimated $1.8
billion in assets and a place on the top
10 richest people in Australia.
The number one position of the BRW rich
list in 2006 still belongs to a Packer,
but this year it is James
Packer rather than the usual Kerry
Packer. Kerry Packer passed away at
the age of 68 towards the end of 2005, leaving
his son James to take the reigns of the
Australian media giant, Publishing and Broadcasting
Limited (PBL). The Packer billions have
increased from last year's $6.9 billion
to $7.1 billion in 2006, which is almost
2 billion more than second placed Frank
Lowy.
A new face on the top ten list is the Chinese
born Australian Zhengrong Shi with an estimated
$3 billion, making him the fourth richest
person. He still retains property in Sydney
but is running his solar power business
out of China. The 44 year old has saw his
New York Stock Exchange listed company Suntech
Power Holdings double in value recently.
The total wealth of the richest 200 Australians
has reached more than $100 billion for the
first time, which is up from the $83.37
billion in 2005. There were also several
large fortunes passing hands with 7 deaths.
Among them were Kerry Packer, Brian Ray,
Peter Menegazzo, Bill Wyllie, and Joe Saragossi.
Australian Women had a better year in 2006
with there total combined wealth being $5.5
billion. There's still only 11 women listed
but they increased there assets by $1.7
and gained a top ten listing with the billionaire
iron ore queen Gina Rinehart. Other notable
Australian women include the famous actress
Nicole Kidman with $200 million and businesswoman
Janet
Holmes a Court having an estimated $180
million.
The number of Australian billionaires is
also increasing each year. In 2004 there
were eleven billionaires, last year there
were seventeen billionaires, and in 2006
there are 22 Australian billionaires on
the BRW rich list.
To join the rich 200 list it now takes at
least $130 million. That's a $20 million
increase from the 2005 cutoff point.
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Richest Top 10 |
Ten Richest People in Australia in 2006
according to the BRW business magazine.
(All figures in Australian Dollars)
1. James
Packer,$7.1 billion, PBL, Publishing
and Broadcasting Limited
2. Frank Lowy, $5.4 billion, Westfield
Shopping Centers
3. Richard
Pratt, $5.2 billion, Visy
Industries
4. Zhengrong Shi, $3 billion, Suntech
Power Holdings
5. Harry Triguboff, $2.5 billion,
Meriton Apartments
6. David Hains and Family, $2.3
billion, Portland House Group
7. Len Ainsworth and sons, $1.9
billion, Ainsworth Game Technology
8. John Gandel, $1.8 billion, CFS
Gandel Retail Trust
9. Gina Rinehart, $1.8 billion,
Hancock Prospecting
10. Kerry Stokes, $1.8 billion,
Seven Network (television station)
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