How Many Billionaires Are There in Australia?

Australians make up 47 of the world’s richest people, according to Forbes’ latest list of 2558 billionaires.

Who is the richest person in Australia?

Mining magnate Gina Rinehart has once again achieved the title of Australia’s richest person, with a net wealth of $26.5 billion so see her sits in 57th place on the world’s richest list, according to Forbes real-time data.

The 68-year-old built her wealth on iron ore after rebuilding her late father’s financially distressed company Hancock Prospecting and is also Australia’s second-largest cattle producer.

The richest people in Australia in 2023

Forbes’ real-time data shows that as of November 2023, there are 47 Australian billionaires on the list of the world’s wealthiest people.

Source: Forbes, November 2023

Billionaires in the mining, software and manufacturing industries continue to feature heavily on the list, but retail, casino, investment, construction, and real estate businessmen and women also feature.

The second person on the Australian list is Andrew Forrest, with 22.1 billion which puts him in 76th place in the global ranking.

The 60-year-old businessman founded Fortescue Metals Group and invests in many sustainable energy projects.

In third place is real estate mogul Harry Triguboff with a $15.5 billion net worth, putting him in 111th place on the global ranking

4th and 5th are co-founders of software company Atlassian – Mike Cannon-Brookes and Scott Farquhar whose $12 billion and $11.8 billion net worths see them placed in 151st and 156th places on the Forbes global rich list.

Anthony Pratt – executive chairman of Australia’s biggest private company Visy Industries – a packaging and recycling business – takes 5th place in Australia’s top 5 richest billionaires thanks to his $10.5 billion fortune putting him as the 179th richest person on the planet.

What can we learn from these billionaires?

No matter how much money they have, there is one thing that all these billionaires have in common… they’re good with their money.

At Metropole, we truly believe that the key to building wealth and financial success for you is through property investment.

But not just any property – it needs to be the RIGHT property in the RIGHT location.

And I don’t just mean the one that appeals to you.

It’s what we call investment grade.

As always, quality far supersedes quantity so focus on putting your hard-earned money into the right property rather than buying as many as you can.

It’s important to have the right guidance and help on your side to make sure you avoid making any of the classic property investment mistakes along the way.

After all, the objective for property investors is to find investment-grade properties in investment-grade suburbs, regardless of the latest hotspot data.

That’s areas and properties which hold their value over the long term, rather than benefit from an uptick in demand.

But even before looking for the right location, make sure you have a Strategic Property Plan to steer you through the upcoming challenging times our property markets will encounter.

Aside from remembering that you should focus your efforts on investment-grade properties and locations, you also need to remember that property investing is a process, not an event.

That means that things have to be done in the right order – and selecting the location and the right property in that location comes right at the end of the process.

And that’s because what makes a great investment property for me, is not likely to be the same as what would suit your investment needs.

About Brett Warren
Brett Warren is Director of Metropole Properties Brisbane and uses his two decades of property investment experience to advise clients how to grow, protect and pass on their build their wealth through property.