Young Rich Australian People 2006

Business Reviews - News Stories

BRW - Australian Young Rich List 2006
Review of Australia's richest young people
according to the BRW business magazine, 2006

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BRW Young Rich List Review - Australia's Richest Young People 2006

The Australian Business Review Weekly (BRW) magazine has released it's annual list of rich young Australian people. The man that had held the number one position since the annual list first began (John Ilhan), was knocked off because of age. The mobile phone retailer of the Crazy Johns chain of stores still has $300 million in assets, which would give him the number one position, but Ilhan is now 41 years old.

In 2006 the child care services millionaire Edmund Groves has taken the number one position from John Ilhan, with an estimated $260 million. At forty years of age though, the founder of ABC Learning Centres will also be knocked off the list next year.

The remaining entrant in the top 5 richest young Australians include the hedge fund brothers Angus and Richard Grinham with $250 million. The Sydney property developer Shaun Bonett debut's on the list in third place with $220 million. Fourth place is taken by the recently married actress Nicole Kidman with $200 million, and fifth place belongs to the Melbourne based tool manufacturer Peter Hosking with an estimated $160 million.

To be included on BRW's Young Rich list you can not be more than forty years old, you should be Australian, and this year you must have a wealth of $12 million or more 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).

The list of 100 young Australian's increased their combined wealth from $3.7 billion in 2005 to $4 billion this year, giving them an average of about $48 million each. The youngest entrant is the famous tennis player Lleyton Hewitt in 31st position with a wealth of $33 million. Ten people just got too old for the list, while a total of 32 left the list for various reasons. There are also fewer women on the list this year, with 17 compared to 21 last year.

The major industries for wealth creation on the Young Rich list continues to be retail, followed by technology, services, property, entertainment, and sport.

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Richest Top 10

Ten Richest Young People in Australia in 2006 according to the BRW business magazine.
(All figures in Australian Dollars)

1. Edmund Groves, $260 million, ABC Learning, Age 40
2. Angus and Richard Grinham, $250 million, Grinham Managed Funds, Age 35 and 37
3. Shuan Bonett, $220 million, PRecision Group, Age 35
4. Nicole Kidman, $200 million, Acting, Age 39
5. Peter Hosking, $160 million, Global Machinery Company, Age 39
6. Craig Gore, $160 million, Property and Financial Services, Age 39
7. Matthew & Nicole Perrin, $127 million, Billabong, Age 33 and 34
8. Ross Makris, $114 million, Property, Age 36
9. Paul Bassat, $99 million, Seek, Age 38
10. Andrew Bassat, $98 million, Technology, Age 40

Young Rich Australians 2006

Young Rich Australians
2006