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Australia's annual BRW rich list is out and not surprising property is the main source of wealth creation in Australia at this time. Carboard and recycling magnate Anthony Pratt is Australia's wealthiest but property was the source of 51 of the top 200 rich list.

Australia Rich List 2018

Australias richest 200 people, as calculated by the Financial Review held a record $283 billion in wealth, up 21 per cent on last year. In 2018 Australia added 16 extra billionaires this year, taking the total to a record 76. To get on the list in 2018 it took a personal fortune of $387 million, up $46 million from $341 million last year.

The Five Richest Australians in 2018

  1. Anthony Pratt $12.9 billion. Visy Industries executive chairman - Cardboard and Recycling
  2. Harry Triguboff $12.8 billion. Meriton Homes chairman - Property Developer 
  3. Gina Rinehart $12.7 billion. Resources, Mining and Beef
  4. Hui Wing Mau $9.1 billion. Hong Kong based Shimao - Property Developer and Beef
  5. Frank Lowy $8.4 billion. Westfield Property Founder - Property Developer

The average wealth of Australia's 200 richest people was $1.41 billion.

Property Developers Dominate Australia's Rich List

The top five industries that Australia's wealthiest 200 primarily made their fortunes:

  1. Property (51) 
  2. Retail (22)
  3. Investment (21) 
  4. Resources (18)
  5. Financial services (16) 

Australia's richest are evenly split between Sydney and Melbourne with 57 residing in each, Perth has 20, Brisbane 15 and the Gold Coast 5. Men continue to dominate with only 19 women in the top 200 and just 8 female billionaires out of 76.

Source: AFR

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