The Australian has revealed Visy executive chairman and owner of Pratt Industries, Anthony Pratt is Australia’s wealthiest individual, with a fortune of $13.14 billion.
He is one of 250 people named in The List: Australia’s Richest 250, which will be published in The Weekend Australian tomorrow as a special magazine.
The list was curated and edited by wealth expert John Stensholt and a global team of researchers and journalists.
The study reveals the entire fortune of Australia’s wealthiest 250 is $318.33 billion, with each member having an average of $1.27 billion. Included in the list are 96 billionaires, 15 people aged 40 and under and 27 females. The average age of members is 65, with 95-year-olds Len Ainsowrth (Associated World Investments, Sydney) and Marc Beseen (TarraWarra, Melbourne) the eldest named and 26-year-old Tobi Pearce (Sweat) the list’s youngest member.
Joining Pratt in the Top 10 is Hancock Prospecting chairman Gina Rinehart (65, Perth) who came in at number 2, with an accumulated wealth of $13.12 billion – a mere $20 million separating her from Pratt.
Meriton managing director Harry Triguboff (86, Sydney) is at number 3, with a fortune of $12.31 billion. More broadly, property dominates the majority of wealth, with 68 members making their fortune from the industry. Many members have also made their fortunes in industries such as transport and mining, before diversifying into residential and commercial property investments.
The list has been compiled using publicly available information. Public shareholdings are calculated on share prices up to 15 February 2019 and property values and purchase prices have been derived from several public sources. Price companies are valued using profit margins and various earnings ratios of comparable stock market listed competitors.
The List: Australia’s Richest 250
The Top 10
1. Anthony Pratt and family ($13.14 billion)
2. Gina Rinehart ($13.12 billion)
3. Harry Triguboff ($12.31 billion)
4. Mike Cannon-Brookes ($9.01 billion)
5. Scott Farquhar ($9.01 billion)
6. Frank Lowy ($8.92 billion)
7. Hui Wing Mau ($8.63 billion)
8. Andrew Forrest ($7.34 billion)
9. Ivan Glasenberg ($6.76 billion)
10. John Gandel ($6.22 billion)