List Of 10 Richest People In Australia 2024

The Australian economy received a boost following the country's post-pandemic reopening. However, in the past year, inflation surged to 7.8%, marking the highest rate in three decades. This significant increase was primarily driven by elevated prices of new homes, escalated costs of transportation, and the resurgence of long-deferred holiday expenditures.

The stability of fortunes derived from iron ore, a cornerstone of exports, remains unassailable at the summit of wealth in the nation. Holding steadfast to her enduring position as the wealthiest individual in the country is mining mogul Gina Rinehart, despite a slight dip in her fortune to $30.2 billion. Notably, Rinehart has been actively engaged in strategic dealmaking endeavours aimed at expanding her portfolio into lithium, the coveted metal pivotal in the production of electric vehicle batteries.

Gina Rinehart continues to hold her position as the wealthiest individual in Australia, boasting a substantial fortune of $30.6 Billion. This list will include the top 10 wealthiest people in Australia.

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10 Richest People In Australia 2024

Following closely behind with a wealth valuation of $21.5 billion is mining magnate Andrew Forrest, who has garnered attention for his eco-conscious initiatives. Reportedly committed to generating 14 gigawatts of clean energy by 2030, Forrest's wealth now encompasses a familial aspect, recognizing the interests of his estranged wife Nicola, with whom he parted ways last year. Prior to their separation, the couple generously contributed Fortescue shares valued at $3.4 billion to their philanthropic foundation.

Meanwhile, addressing the country's housing shortage has proven lucrative for property tycoon Harry Triguboff, affectionately known as 'high-rise Harry' for the plethora of towering apartment complexes erected by his company Meriton. Despite his nonagenarian status, Triguboff maintains his position at No. 3 on the wealth ladder with a net worth of $16.2 billion. Here is the complete list:

The tech sector in Australia faced a decline impacting the valuation of software firm Atlassian, but its founders, Mike Cannon-Brookes and Scott Farquhar, maintain their positions in the top 10 despite the challenges. However, WiseTech Global, specialising in helping logistics companies manage their supply chains, stood out with a 20% increase in its shares over the past 12 months. This propelled founder Richard White to the 10th position on the list with a net worth of $5.4 billion.

Andre Forest

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A recent surge in the valuation of the design powerhouse Canva has significantly augmented the net worth of its three co-founders. Notably, husband-and-wife duo Cliff Obrecht and Melanie Perkins witnessed a remarkable 22% increase in their wealth, catapulting their combined fortune to $8.8 billion.

The compilation of the list of Australia's richest individuals in 2024 is based on Forbes' report titled 'Australia’s 50 Richest 2024'. The data used for this ranking includes shareholding and financial information obtained from families and individuals, stock exchanges, annual reports, and input from analysts. The list encompasses individual and family fortunes, including those shared among relatives.

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For private companies, valuation was conducted by drawing comparisons with similar publicly traded companies. Public fortunes featured on the list were calculated based on stock prices and exchange rates as of January 27, 2023. It's important to note that adjustments may have been made for some stocks that are thinly traded or have a low public float, ensuring a more accurate representation of the individuals' or families' wealth.

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