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BRW - Australian Rich List 2005
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 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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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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