Top 10 Wealthiest People in Australia 2011

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March 17, 2011 3:43 AM EST

1. Georgina Rinehart

Telstra.com.au

Net Worth: $9 billion
Fortune: Inherited and growing
Source: Mining entrepreneur, Chairman of Hancock Prospecting
Age: 56
Country Of Citizenship: Australia
Residence: Perth
Civil Status: Widowed, 4 children

Gina Rinehart is the daughter of mining magnate Lang Hancock. She inherited her father’s mining company after a 14-year battle with her stepmother. She increased her wealth by 450 percent to $9 billion through a joint venture with Rio Tinto and is now the richest Australian ever.

2. Andrew Forrest

Net Worth: $6.9 billion
Source: Mining entrepreneur, Chairman and CEO, Fortescue Metals Group
Age: 49
Civil Status: Married, 3 Children

Andrew Forrest ended on second spot even though his wealth surged 68 per cent to $6.9 billion. “Twiggy” and his Fortescue Metals Group will appeal a Federal Court ruling that could see him banned from running the company he founded.

3. James Packer

Net Worth: $4.4 billion
Source: Media Age: 43
Civil Status: Married, 2 Children, Indigo and Jackson

James Packer is classified among the lucky ones as his fortune is inherited from his late billionaire father Kerry Packer, a media mogul. James is also the boss of Publishing and Broadcasting Ltd (PBL) which operates a significant number of TV and media stations

4. Frank Lowy


Net Worth: $4.3 billion
Source: Retailing, Westfield Group
Age: 80
Civil Status: Married, 3 Children

Australian-Israeli Czech-born Frank Lowy fled postwar Europe and started 50 years ago with a delicatessen in Sydney. Today he is mostly known as a man who co-found The Westfield Group, which is a major retail chain operating in New Zealand, Australia, United States and United Kingdom. Kingdom. Sons Steven and Peter are in the business and son David runs the family’s private hedge fund.

5. Harry Triguboff

Net Worth: $3.4 billion
Source: Real Estates, Property developer
Age: 77
Civil Status: Married, 2 Children

One of Australia’s largest apartment builders, Harry Triguboff was born and raised in China before migrating to Australia during his youth to continue his schooling. His privately owned Meriton owns and manages 4,000 apartments, and he’s one of the country’s biggest owners of tourist accommodations. Harry worked a number of odd jobs including a taxi driver and a milk man before establishing Meriton Apartments, which evolved into one of the most successful property developers in Australia.

6. John Gandel

Net Worth: $3.3 billion
Source: Real Estates, Retailing-Chadstone
Age: 76
Civil Status: Married, 4 Children

John Gandel inherited much of his estate from his Polish-immigrant parents, and subsequently built his own fortune in shopping centres. He is best known as the half-owner of Australia’s biggest shopping mall, in the Melbourne suburb Chadstone.

7. Anthony Pratt

Net Worth: $2.7 billion
Source:CEO of Pratt Industries and Group Deputy Chairman of Visy Industries
Age: 50
Civil Status: Single, 1 Child

Anthony Pratt is the son of the late Richard Pratt who built Visy Industries into a paper-and-packaging giant. The former McKinsey consultant spent almost 20 years running Visy’s U.S. operations. He owns its global operations with sisters Heloise and Fiona.

8. Kerr Neilson

Net Worth: $2.4 billion
Source: Funds Manager, Platinum Asset Management
Age: 61
Civil Status: Married, 2 Children

Born in South Africa, Neilson began his career in stockbroking in London. He bought his first stock at age 13. Neilson is often referred to as "Australia’s answer to Warren Buffett" for his ability to consistently select high-performing stocks for his funds management business.

9. David Hains

Net Worth: $2 billion
Source: Retail, Manufacturing, Engineering and Property
Age: 80 Marital
Status: Married, 5 Children

Veteran investor David Hains has run investment vehicle Portland House Group for decades. The most significant of his publicly listed activities was his stint as president of a steel syndicate which briefly took control of the US-based Wheeling Pittsburgh steel corporation.

10. Kerry Stokes

Net Worth:$1.9 billion
Source: Mining, Property and Construction equipment
Age: 70
Civil Status: Divorced, 4 Children

Kerry Stokes is the top private buyer of Victoria Crosses, acquiring three of these rarely seen Australian military awards at prices up to $1.2 million each and donating them to the Australian War Memorial. Strong demand for industrial and mining equipment in China and Australia, plus a rise in advertising, made him a billionaire once again.

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