{"id":2193,"date":"2022-03-25T05:00:38","date_gmt":"2022-03-25T05:00:38","guid":{"rendered":"https:\/\/royabhishek.in\/urbanbuyer\/property-sector-churning-out-the-billionaires\/"},"modified":"2022-03-25T05:00:38","modified_gmt":"2022-03-25T05:00:38","slug":"property-sector-churning-out-the-billionaires","status":"publish","type":"post","link":"https:\/\/royabhishek.in\/urbanbuyer\/property-sector-churning-out-the-billionaires\/","title":{"rendered":"Property sector churning out the billionaires"},"content":{"rendered":"

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Property continues to be a billionaire factory, with Australia\u2019s newest rich list featuring ten powerbrokers from the industry.<\/p>\n

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Property continues to be a billionaire factory, with Australia\u2019s newest rich list featuring ten powerbrokers from the industry.<\/p>\n

Property magnates were the most prolific by sector on The List: Australia\u2019s Richest 250<\/em>, published by The Australian<\/em>.<\/p>\n

There were 59 property moguls included on the list of 250, ahead of technology (29), investment (28), retail (27), mining (22), and manufacturing (14).<\/p>\n

The highest entrant from the property sector is Harry Triguboff, with a ranking of six based on wealth of $20.81 billion.<\/p>\n

The most popular suburbs for The List\u2019s rich are Toorak<\/a> (20), Point Piper<\/a> (12), Vaucluse<\/a> (11), Mosman Park<\/a> (6), while NSW can claim the highest number of people from the list with 98 residents, Victoria has 71, Queensland 32, Western Australia 21, South Australia 5, Northern Territory 2 and Tasmania and the ACT 1 each. Nineteen live overseas.<\/p>\n

Gina Rinehart tops the 2022 The List: Australia\u2019s Richest 250<\/em> with a massive $32.64 billion wealth. Fellow West Australian and mining magnate Andrew Forrest comes in a close second with wealth of $31.77 billion.\u00a0<\/p>\n

Anthony Pratt is third with $27.77 billion, while Atlassian co-founders Mike Cannon-Brookes and Scott Farquhar are round out the top five with wealth of $26.20 and $25.99 billion respectively.<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Overall List Rank<\/th>\nIndustry Rank<\/th>\nName<\/th>\nValuation<\/th>\nAge<\/th>\nState of Residence<\/th>\n<\/tr>\n
6<\/td>\n1<\/td>\nHarry Triguboff<\/td>\n$20.81b<\/td>\n89<\/td>\nNSW<\/td>\n<\/tr>\n
16<\/td>\n2<\/td>\nJohn Gandel<\/td>\n$5.05b<\/td>\n87<\/td>\nVIC<\/td>\n<\/tr>\n
17<\/td>\n3<\/td>\nLang Walker<\/td>\n$5.03b<\/td>\n76<\/td>\nNSW<\/td>\n<\/tr>\n
23<\/td>\n4<\/td>\nChau Chak Wing<\/td>\n$3.74b<\/td>\n68<\/td>\nOverseas<\/td>\n<\/tr>\n
26<\/td>\n5<\/td>\nGreg Goodman & Family<\/td>\n$3.52b<\/td>\n59<\/td>\nNSW<\/td>\n<\/tr>\n
34<\/td>\n6<\/td>\nHui Wing Mau<\/td>\n$2.94b<\/td>\n71<\/td>\nOverseas<\/td>\n<\/tr>\n
36<\/td>\n7<\/td>\nMaurice Alter & Family<\/td>\n$2.62b<\/td>\n96<\/td>\nVIC<\/td>\n<\/tr>\n
37<\/td>\n8<\/td>\nJohn van Lieshout<\/td>\n$2.56b<\/td>\n72<\/td>\nQLD<\/td>\n<\/tr>\n
38<\/td>\n9<\/td>\nBruce Mathieson<\/td>\n$2.50b<\/td>\n78<\/td>\nVIC<\/td>\n<\/tr>\n
44<\/td>\n10<\/td>\nMarc Besen & Family<\/td>\n$2.44b<\/td>\n98<\/td>\nVIC<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

List editor John Stensholt the technology revolution is heralding a shift from \u201cold\u201d industries such as mining and manufacturing to newer online sectors, bringing significant change to the ranks of the country\u2019s wealthiest individuals.<\/p>\n

\u201cDespite the pandemic, some sectors, retail in particular, have done incredibly well and created a surge in new wealth on The List,\u201d he said.<\/p>\n

The youngest person on the list is 32-year-old Nick Molnar, while the oldest are Len Ainsworth and Marc Besen, who are both 98 years old.\u00a0The average age of those on the list is 65 years old.<\/p>\n

Harry Triguboff is the founder and managing director of\u00a0Meriton\u00a0and is known as \u201c<\/span>high-rise Harry\u201d. A perennial inclusion in such lists, he is one of ten Australians who have appeared in every\u00a0Financial Review Rich List, or its predecessor, the\u00a0BRW Rich 200, since it was first published in 1984.<\/p>\n

At 16 in the overall ranking John Gandel is the next richest property developer, having made his fortune made his fortune in commercial\u00a0real estate, including shopping centres in\u00a0Melbourne.<\/p>\n

Walker Corporation\u00a0is an Australian-based privately owned property development company, with an international development portfolio in USA, Canada and Malaysia. It is Australia’s largest privately owned development company, being fully owned and operated by its high-profile co-founder and Chairman, Lang Walker, who is the next property rich-lister at number 17.<\/p>\n<\/p><\/div>\n