Mining magnate Gina Rinehart’s wealth continues to soar as she retains top spot as Australia’s richest person months after she sensationally cut ties with Netball Australia.
The annual Richest 250 List featuring a record 139 billionaires was unveiled by The Australian newspaper on Friday.
The West Australian billionaire maintains the top spot as the country’s wealthiest person and 45th in the world with a net worth of $37.10 billion, up from $32.64 billion last year.
Fortescue Metals magnate Andrew ‘Twiggy‘ Forrest ($35.21 billion) was second the list followed by manufacturing businessman Anthony Pratt and his family, with a net worth of $27.87 billion.
It was recently revealed Mrs Rinehart had added at least another $2 billion to her net worth since May. Her company Hancock Prospecting has made almost $20 billion in profit in the past four years, including a mammoth $5.8 billion in 2022 alone.
Mrs Rinehart sparked controversy when she pulled the pin on Hancock Prospecting’s lucrative $15million sponsorship deal with Netball Australia last October.
Billionaire Gina Rinehart retains top spot as Australia’s richest person after growing her wealth
Indigenous netballer Donnell Wallam refused to have the Hancock Prospecting logo on her jersey and received the backing of her Australian Diamonds teammates.
This was reportedly due to decades-old comments Rinehart’s late father Lang Hancock made about Aboriginal Australians almost four decades ago.
He suggested in 1984 that Indigenous Australians should be sterilised to ‘breed themselves out’ in coming years.
Five months on from the saga, Netball Australia is still reeling from the furore, despite Visit Victoria coming to the rescue with a new $15m deal.
Netball Australia is now struggling to pay a $4.2 million debt in the wake of controversy.
There were initial fears voiced by Australian swimming legend Dawn Fraser at the time of the saga that Mrs Rinehart would be deterred from sponsoring other sports after public backlash.
Gina Rinehart (pictured with Garry Korte, who works for Hancock Prospecting) has seen her net worth grow from $32.64 billion to $37.10 billion
But as netball struggles to recover from the fallout, Mrs Rinehart has continued to invest in other Australian sports, with Hancock Prospecting backing Swimming WA, Volleyball Australia, Rowing Australia and Synchronised Swimming Australia.
The billionaire’s investments in sport have seen her hailed as one of the most influential women in the field – and in 2014, she was awarded an Order of Merit from the Australian Olympic Organisation.
She was back in the headlines last month when it was revealed that she would be giving out huge bonuses to staff at Hancock Consulting.
Mrs Rinehart announced she will hand $100,000 each to 41 lucky workers at her company to mark her 41 years at the firm founded by her late father.
Her company also recently snapped up the energy firm Warrego in a landmark purchase.
It’s also previously pumped $300 million into a UK-based fertiliser firm, as well as put in several hundred million into rare earth companies.
Gina Rinehart has well and truly moved on from the fallout with Netball Australia. Pictured are the Australian Diamonds with the Constellation Cup trophy
Meet the newest billionaires on Australia’s rich list as it is revealed how they made their massive fortunes
By Aidan Wondracz for Daily Mail Australia
The number of Australian billionaires has continued to grow, with pub barons, crypto gambling magnates and petrol station proprietors among the newcomers.
The country is home to a record 139 billionaires, with mining magnate Gina Rinehart leading the list with a net worth of $44.33billion.
After making their fortune in a raft of different and highly lucrative industries, several lesser-known faces are among the new additions.
Many have made their fortune from humble beginnings while others have continued to build on the foundations laid down for them by their family.
Here are the newest billionaires on The Australian newspaper’s Richest 250 list.
Pub baron Sam Arnaout is worth an estimated $2.3billion
Pub baron Sam Arnaout is worth an estimated $2.3billion.
He is the chief executive officer of IRIS Capital with more than 30 pubs and 20 hotels to his name.
Steyne Hotel in Manly, on Sydney’s northern beaches, and Wisemans Ferry Inn Hotel along the Hawkesbury River, in NSW, are among his most well known establishments.
He bought the Lasseters Hotel in Alice Springs for $105million in 2021 making him the biggest employer in the Northern Territory.
Mr Arnaout continued his spending spree when he snapped up Canberra Casino in the ACT for $63million in 2022.
His billionaire status is rooted in humble beginnings with Mr Arnaout the son of refugees from Lebanon’s civil war.
Mr Craven and his business partner Bijan Tehrani are the brains behind cryptocurrency casion and sports book Stake.com
Online gambling magnate Edward Craven is worth an estimated $2.01billion.
Mr Craven and his business partner Bijan Tehrani are the brains behind cryptocurrency casion and sports book Stake.com.
He has been building his property portfolio after snapping up a mansion in Toorak, Melbourne, for $38million in March 2022.
Mr Craven dropped another $88million on house in St Georges Road, in the same suburb, months later in August.
The unfinished house had stood idle for more than three decades earning the property its name, ‘ghost mansion’.
Mr Craven smashed the city’s previous record sale of $52.5million that was previously paid for Stonington Mansion in Malvern in 2018.
He was thought to be the mystery billionaire who tipped a waitress $10,000 at Gilson in Melbourne’s South Yarra in February – but his representatives have denied it was him.
Terry and Arthur Tzaneros
Logistics operators Terry (pictured) and Arthur Tzaneros are a father and son duo worth an estimated $1.56billion
Logistics operators Terry and Arthur Tzaneros are a father and son duo worth an estimated $1.56billion.
The father and son duo started ACFS Port Logistics in 2005 and generate around $300million in revenue every year.
Their company makes a profit of $85million a year before tax and depreciation and employs more than 1,100 people across the country.
Terry and his wife Anne own one of the most expensive houses in Sydney after purchasing a Point Piper mansion for close to $40million in 2021.
Their son Arthur also bought a luxury home in nearby Vaucluse for $32million in the same year.
Nick Andrianakos and family
Petrol king turned property investor Nick Andrianakos has a net worth of $1.30billion.
Andrianakos comes from humble beginnings after moving from Greece to Melbourne in 1966.
He bought his first petrol station in 1973 and then created the Milemaker chain making him one of the biggest service station owners in the city.
He sold his chain to Caltex for $94million in 2016, but kept the freehold over the petrol stations.
Mr Andrianakos has expanded into the retail sector after acquiring a $135 million-plus half stake in Colonnades mall in Adelaide in 2022.
The multi-million dollar buy added to his $175million purchase of Adelaide tower, on Flinders Street, in 2020.
Johnny and Markus Kahlbetzer
Johnny and Markus Kahlbetzer (pictured) are brothers who are worth a combined $1.30billion
Johnny and Markus Kahlbetzer are brothers who are worth a combined $1.30billion.
Their father John made the family fortune as a rural landholder in Argentina and Australia.
They were once one of Australia’s biggest owners and operators of broad-acre farmland under their company Twynam Agricultural Group.
Their land would be used to produce grain, cattle, wool, cotton, rice and citrus.
His sons began to sell off the assets in the 2000s.
Markus has moved into property development and technology.
He is the CEO of BridgeLane Group, a privately-owned asset management firm that was founded by Markus in 2009.
Johnny remains the COO and CEO of Twynam Agricultural Group.
Financial services guru Charles Gibbon is worth an estimated $1.19billion.
He is the founder of Shearwater Growth Equity and chairman of WiseTech Global.
Mr Gibbon has a long history in the financial services sector and worked as director of Monbeef and Photolibrary and chief executive of Russell Private Equity.
Investment firm identity Greg Coffey has a net worth of $1.12billion
Investment firm identity Greg Coffey has a net worth of $1.12billion.
He made his fortune in Gerson Lehrman Group in London with his money-making talents earning him the nickname, ‘Wizard of Oz’.
Mr Koffey retired at the age of 41 but returned to investing a decade later.
His property portfolio includes a $105million house in the Hamptons and a multi-million dollar townhouse in the Upper East Side in Manhattan.
Microphone businessman Peter Freedman has a net worth of $1.10billion.
His company Freedman Electronics sells its widely popular Rode brand of microphones all around the world.
Mr Freedman is a high school dropout who had to discontinue his studies to help out his father after he fell terribly ill.
The successful businessman now generates a staggering $300million a year in annual revenue.
Mortgage lender Kim Cannon is worth an estimated $1.08billion
Mortgage lender Kim Cannon is worth an estimated $1.08billion.
He runs one of the country’s biggest non-bank mortgage lenders Firstmac.
The company has 60,000 customers and manages a loan portfolio of $16billion.
Software engineer Christian Beck is worth $1.03billion.
He is the brains behind LEAP Legal Software and search provider Infotrack, a program that provides services to the legal profession.
His rise to billionaire status is all the more impressive as Mr Beck taught himself how to code.
He has spent more than 10 years working with law firms and managed to pair his experience with coding in order to create his highly-profitable programs.
Waste management king Ian Malouf has a new worth of $1.03billion
Waste management king Ian Malouf has a new worth of $1.03billion.
He founded Dial-a-Dump in 1984 and built his business into a $577million empire that he eventually sold to Bingo Industries in 2021.
Mr Malouf maintains waste property holdings in Sydney’s eastern suburbs and he has diversified his business empire.
He rents out a collection of boats through his superyacht chartering business Ahoy Club.
Manufacturer Huang Bingwen has a fortune totalling $1.02billion.
He has made his fortune in his manufacturing business Shantou Dongfeng Printing.
The company manufactures paper packaging for tobacco and other companies in China.
Mr Bingwen bought a luxury $60million mansion at Point Piper, in Sydney’s eastern suburbs, in 2016.
Property magnate Rod Spooner just scrapes into the billionaire list with a new worth of exactly $1billion.
His family owns Caribbean Park in Melbourne – a commercial district that is comprised of hotels, restaurants, gyms and an office park.
The Spooner family had acquired 300 acrews of land in Scoresby in 1945 with the area becoming the high-profitable commercial district it is today.