الرئيسية / ميديا / Australia’s newest billionaires revealed in Richest 250

Australia’s newest billionaires revealed in Richest 250

There are a record 159 billionaires in Australia this year, including newcomers to the ranks of Australia’s wealthy elite such as Australia’s second-richest woman, Nicola Forrest, and “Lambo Man” Adrian Portelli.

Names like James Packer, Gina Reinhart and Andrew Forrest will be familiar to many.

But also joining the billionaires list for the first time in 2024 are cryptocurrency gambling tycoons, lithium mining magnates and the entrepreneurs behind familiar brands like Chemist Warehouse, Kennard’s Hire and 7-Eleven.

Australia’s newest billionaires revealed in Richest 250

$37.17bnNicola Forrest

Nicola Forrest made the list this year after confirming her split from husband Andrew Forrest, founder and chief executive of Fortescue Metals Group.

Her new separate stake in Fortescue – which is held in her name only while the rest of the Forrest family fortune is held jointly – marks her inclusion on the list, despite the duo’s wealth being combined.

They also have equal ownership of Tatarang’s own business empire which includes livestock properties, and brands such as RM Williams.

 $3.26bn, Sam Gance

The Gans brothers had already built on their initial holdings of drugstores in Melbourne’s northern suburbs with the successful Le Specs sunglasses and Le Tan sunscreen brands before partnering with Mario Ferrucci on the Chemist Warehouse chain in 2000.

Chemist Warehouse is now going public through a reverse takeover of ASX-listed Sigma Pharmaceutical, with the Gance brothers emerging as a significant shareholder in the combined business. Sam Gance, and his Real Housewives of Melbourne star partner Janet Roach, join the roster based on his proposed stake in the combined entity in a deal set to be completed later this year.

$2.15bnTim Heath

He grew up in Warracknabeal in Victoria and played poker at Melbourne’s Crown Casino before heading overseas. Now, his Yolo Group is headquartered in Estonia, where it employs more than 1,000 people and where Heath will soon open a $100 million casino and hotel complex for high rollers. This will be his latest venture into gaming, which includes his own gambling site Sportsbet.io. Heath started with an online poker website in 2013 which later became Bitcasino.io, which has become a massive success.

 $1.95bn, Chris Barlow & family

The 7-Eleven Australia convenience store business, which started with a single store in the Melbourne suburb of Oakleigh in 1977, was sold by the Withers and Barlow families in November last year. It was purchased by Japanese parent group Seven & I Holdings. Barlow is the nephew of Withers, who started a 7-Eleven store in Australia with his late sister Beverly Barlow. Both families still own the Australian coffee chain Starbucks.

$1.86bnDick Honan

Documents filed with the corporate regulator late last year shed more light on the massive scale of Hunan’s wheat-processing and ethanol-producing empire.

Manildra’s revenue was $2.3 billion last year, and the company, which employs about 1,150 people, posted net profits of about $203 million, raising Hunan’s estimated wealth considerably.

 $1.56bn, Craig & Ryan Sutton

The huge Suttons car dealership was founded in the early 1940s by the late Frederick Sutton, grandfather of Craig and Ryan, who now run the group after their father Laurie died last year. The business is mainly based in Sydney. . Suttons had revenues of $1.93 billion last year and has more than $1.2 billion in real estate assets on its balance sheet.

$1.30bn, Adrian Portelli

Portelli ascended to The List with a fortune based on the valuation of his LMCT+ Rewards Club, real estate holdings and other investments. Portelli, a marketing and self-promotion expert, is known for bidding at auction on properties sold on Nine Entertainment’s The Block TV renovation series. But Portelli has a very lucrative business at LMCT+, which has more than 100,000 subscribers, real estate holdings along the East Coast, stakes in beverage startups, and a collection of luxury sports cars.

$1.19bn, Marnie Lewis-Millar & Shay Lewis-Thorp 

The daughters of the late property developer Bernard Lewis control the family business which claims to be Australia’s oldest privately owned property development group. Lewis Land has developed more than 20,000 residential lots since starting work in 1957, including canal carving on the Gold Coast and residential subdivisions in outer Melbourne and Sydney.

$1.18bn, Peter Smaller

Smaller has one of the largest privately owned steel groups in the country, comprising 26 companies that supply, process and distribute steel products. Documents filed with the corporate regulator show Southern Steel Group made a net profit of $113 million on revenue of $1.85 billion in 2023. The company’s history dates back to 1947, when Southern Steel Supply was founded in Wollongong.

$1.10bnNick Wakim

Wakim is the founder and majority owner of privately held Phoenix Lithium, which is set to find a partner and capital to build a $2 billion processing plant in California. He says it will extract and recover about 64,000 tonnes of lithium carbonate used in batteries annually from 2030 onwards. The Phoenix valuation accounts for most of Wakim’s wealth, but he also made headlines when he bought $150 million worth of Victorian properties last year, including three mansions in Melbourne’s Toorak.

$1.22bnNeville Crichton

Crichton was reportedly looking for a buyer or at least a partial exit from his massive car dealership, which has grown rapidly in recent years. He has considered listing on the ASX and has been mentioned in media reports as considering offers from foreign buyers who have cashed in. For now at least, Crighton, who sold his first car when he was 13 to his high school principal in New Zealand, retains ownership of Ateco, which has net profits of $107 million on revenue of $2.5 billion.

$1.12bnJohn & Michael Borg

Borg Manufacturing is a quiet Australian success story. In 1989, the brothers set up a small carpentry business in their parents’ garage on the New South Wales Central Coast. The company now employs more than 2,200 people who manufacture cabinet doors, countertops, panels, laminates, and other panel products. Its brands include Polytec, Crossmuller, Australian Panels, ReDirect Recycling and Direct Pallets. Revenue is approaching the $1 billion mark and Borg Manufacturing generated profits of $102 million last year.

$1.09bnRoger Fletcher

Fletcher is an agricultural legend, having transformed the family business based in Dubbo in central-west NSW into a world-class meat exporter. He even built his own train to transport cured lamb and sheep from Dubbo to Port Botany in Sydney for export. The Fletcher Group has annual revenues of more than US$1 billion, and its most recent accounts show net profits of more than US$100 million.

$1.09bnDale Elphinstone

An Australian success story from northern Tasmania, Elphinstone began modifying Caterpillar equipment for underground use in his father Burnie’s farm shed in 1975. Today the Elphinstone Group manufactures and modifies mining trucks and equipment, and also has a contract to manufacture turrets and hulls for the Australian Army’s new howitzers .

$1.05bnAndy Kennard & family

Kennards Hire has produced another strong year in 2023, its 75th year of operation. The company posted net profits of $85 million on record revenue of $629 million, and paid owner Andy Kennard and his family a $155 million dividend. Kennard is the son of the late founder Walter Kennard, who started the business in 1948 in Bathurst when a customer asked to borrow a concrete mixer from his supply and machinery store. Walter said he would rent the mixer and the business model was born.

$1.03bnRobin Khuda

Khoda is reportedly considering a plan to take his massive data center business AirTrunk public in a move that could value the company at more than $10 billion and provide a major payday for majority shareholder Macquarie Asset Management. Khoda owns about 10% of the company, which he started in 2015.

$1.03bnBruce Gordon

Financial accounts for Gordon’s regional TV network WIN show it generated revenue of about $200 million last year, down from $207 million in 2022. The company reported a net profit of $8.3 million, down 39 percent from the previous year. Gordon has owned WIN since 1979, having had a long career in television and media, culminating in a stint as Vice President of International Television Sales for Paramount in the US.

شاهد أيضاً

تطبيق Yassin TV المجاني لمشاهدة مباريات كرة القدم مجانا

تطبيق Yassin TV المجاني لمشاهدة مباريات كرة القدم مجانا يمكن الآن لجميع المشاهدين في جميع …

اترك تعليقاً

لن يتم نشر عنوان بريدك الإلكتروني. الحقول الإلزامية مشار إليها بـ *

error: Content is protected !!