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200 Richest Australians 2006

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BRW - Australian Rich List 2006
Australian BRW Rich List 2006
Review of Australia's richest people
according to the BRW (Business Review Weekly) business magazine, 2006

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richest australians 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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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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