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BRW - Australian
Young Rich List 2005
Review of Australia's richest young people
according to the BRW business magazine,
2005
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BRW Young Rich List Review - Australia's Richest
Young People 2005 |
The
BRW (Business Review Weekly) magazine in
Australia has released its list of Australia's
richest young people. The young rich have
increased in number this year, with ninety
young Australians making the list this year,
up ten from last year. The total worth of
those on the rich list in 2005 totaled $3.7
billion Australian dollars, compared with
$3.4 billion in 2004.
In the number one position again this year
is the Turkish born mobile phones entrepreneur
John Ilhan. Ilhan moved to Australia
with his family when he was 3, opening his
first "Cray John's" mobile phone
store in 1991, and now having an estimated
wealth of $300 million. In second place
on the Young Rich list is the child care
services entrepreneur Edmund Groves ($272
million), third is the pathology company
Sonic Healthcare's businessman Michael Boyd
with $245 million, and fourth on the list
is the famous Australian actress Nicole
Kidman with an estimated $190 million.
To be included on BRW's Young Rich list
you can not be more than 40 years old, you
should be Australian, and you must have
a wealth of more than $10 million that has
been earned without any inheritance. The
Young Rich list was started in 2003 by the
BRW business magazine (BRW also publishes
an annual Australian
Rich 200 list).
Of the 90 entries on the Young Rich list
this year 33 are appearing for the first
time. Although there were 25 departing the
list, 18 of them simply turned 41 years
old, making them no longer eligible for
entry, while 7 entrants lost assets and
fell below the required $10 million. Many
increased their wealth, with 39 entrants
getting richer, while 9 kept their assets
the same, and just 6 had a decrease in wealth.
Electrical power tools entrepreneur Peter
Hosking made the most impressive entrance
to the Young Rich listing in 2005, debuting
at number 5 with $170 million. Edmund Groves
of ABC Learning had the largest increase,
improving on his $170 million last year
to $272 million this year. While the biggest
fall was from LookSmart's Internet entrepreneur
Evan Thornley, losing $42 during the past
year.
The major industry for wealth creation on
the Young Rich list was retail, followed
by technology, services, property, entertainment,
sport and several others.
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Richest Top 10 |
Ten Richest Young People in Australia
in 2005 according to the BRW business
magazine.
(All figures in Australian Dollars)
1. John
Ilhan, $300 million, Crazy
John's mobiles, Age 40
2. Edmund Groves, $272 million,
ABC Learning, Age 39
3. Michael Boyd, $245 million,
Sonic Healthcare, Age 40
4. Nicole Kidman, $190 million,
Acting, Age 38
5. Peter Hosking, $170 million,
Global Machinery Company, Age 38
6. Craig Gore, $160 million, Property
and Financial Services, Age 38
7. Matthew & Nicole Perrin,
$120 million, Billabong, Age 33 and 32
8. Igor Gilenko & Larry Kestelman,
$87 million, Dodo Internet, Age 39 and
38
9. Steve Outtrim, $74 million,
Majitek, Age 32
10. Ross Makris, $70 million, Property
developer, Age 35
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