Australia’s Wealthiest Become Richer by 10%, Gina Rinehart Still Tops the List

Australia’s wealthiest individuals experienced a year of shifting fortunes in 2025, as a slowdown in mining was counterbalanced by significant gains in the tech sector. Despite the challenges faced by long-dominant mining magnates, the collective net worth of the country’s 50 richest climbed nearly 10% from the previous year, reaching a total of US$243 billion.

Mining tycoon Gina Rinehart maintained her position as Australia’s wealthiest individual, even as her fortune dipped by 4% to $29 billion. Her privately held firm, Hancock Prospecting, has increasingly focused on natural gas investments, with Hancock Energy acquiring assets from struggling mining company Mineral Resources. The company’s founder, Chris Ellison, was among three individuals who dropped off this year’s list.

Property mogul Harry Triguboff reclaimed the No. 2 spot for the first time in five years, with his fortune rising from $16.2 billion to $18.8 billion. His company, Meriton Group, has expanded its build-to-rent residential developments in response to a booming rental market.

The Atlassian cofounders, Mike Cannon-Brookes and Scott Farquhar, moved up one place each, securing the third and fourth positions, respectively. With their net worths increasing to $18.3 billion and $17.9 billion, they emerged as the biggest dollar gainers of the year, each adding over $4 billion. Their company, which serves 300,000 customers worldwide, reported a 20% increase in revenue to $1.3 billion in its most recent quarter, driving up its stock value.

Meanwhile, mining magnate Andrew Forrest slipped to fifth place after shares of Fortescue Metals Group tumbled by more than a third since the previous rankings. His wealth, shared with his estranged wife Nicola Forrest, declined by $5.4 billion—the largest drop on the list—bringing his fortune to $16.1 billion.

The medical imaging sector saw a major boost, with Anthony Hall (No. 13, $4.5 billion) and Sam Hupert (No. 14, $4.45 billion), cofounders of Pro Medicus, more than doubling their wealth. Their firm, which derives 90% of its revenue from North America, experienced a surge in stock value, making them the year’s biggest gainers in percentage terms.

The rankings also welcomed four new entrants. Ed Craven (No. 35, $1.8 billion) and Bijan Tehrani (No. 37, $1.75 billion), the founders of Stake.com, a Melbourne-based offshore crypto casino, became the youngest individuals on the list at 29 and 31 years old, respectively. The other newcomers included the Snow family (No. 42, $1.5 billion), heirs to Canberra Airport developer Terence Snow, and Charles Gibbon (No. 45, $1.4 billion), an early investor in WiseTech Global, founded by fellow billionaire Richard White (No. 7, $10.1 billion).

The minimum wealth required to secure a spot on this year’s list slightly decreased to $975 million, compared to last year’s $1 billion.

Top 10 Richest in Australia (2025)

1. Gina Rinehart – $29 billion
2. Harry Triguboff – $18.8 billion
3. Mike Cannon-Brookes – $18.3 billion
4. Scott Farquhar – $17.9 billion
5. Andrew Forrest & Family – $16.1 billion
6. Cliff Obrecht & Melanie Perkins – $11.5 billion
7. Richard White – $10.1 billion
8. Anthony Pratt – $8.7 billion
9. Bianca Rinehart & Siblings – $8 billion
10. Frank Lowy – $7.9 billion

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