Australia’s wealthiest people are revealed after coronavirus pandemic saw huge leaps and falls in the country’s rich list – with one billionaire named the biggest loser
- Gina Rinehart’s fortune jumped 53 per cent to $21.2 billion amid coronavirus
- Pandemic led to a massive shake up at the top of the Financial Review Rich List
- List reveals tech sector was victorious off the back of a work from home model
- Here’s how to help people impacted by Covid-19
Gina Rinehart has been revealed as Australia’s wealthiest person after her fortune jumped 53 per cent to $21.2 billion in the wake of the coronavirus pandemic.
The global health crisis has led to a massive shake up of the Australian Financial Review Rich List, with former number one Anthony Pratt falling out of the top five.
The list, as of May 21, reveals the technology sector was the big winner of the pandemic as hundreds of businesses moved to a working from home model.
While Rinehart and mining baron Andrew Forrest succeeded off an iron ore boom.
Gina Rinehart (pictuerd left) is Australia’s wealthiest person after her fortune jumped 53 per cent to $21.2 billion in the wake of the coronavirus pandemic
The list, as of May 21, reveals the technology sector was the big winner of the pandemic as hundreds of businesses moved to a working from home model. Software developers Mike Cannon-Brookes (pictured) and Scott Farquhar edged their way into the top three with more than $18 billion fortunes
Software developers Mike Cannon-Brookes and Scott Farquhar edged their way into the top three with more than $18 billion each.
Shimao Property owner Hui Wing Mau, who is based in Hong Kong, came in at number four with a fortune above $17 billion.
With the market calming down a little, AFR analysed the impact of the pandemic on the the nation’s 20 wealthiest individuals.
It was revealed the top 20 saw a cumulative increase in wealth from $143 billion to $189 billion over the past year.
Strong demand from Chinese steelmakers has led to increased fortune’s Rinehart, Andrew Forrest (pictured) and Clive Palmer. Forrest catapulted from eighth on 2019’s list to fifth
Strong demand from Chinese steelmakers has led to increased fortune’s Rinehart, Forrest and Clive Palmer.
Forrest catapulted from eighth on 2019’s list to fifth and it’s the first time Rinehart has topped the list since 2015.
Palmer’s wealth skyrocketed 135 per cent to $9.6 billion and he jumped from 15th on the list into the eighth slot.
Cannon-Brookes and Farquhar founded software superpower Atlassian in Sydney in 2002.
The software company’s share price increased by almost 50 per cent in the past year and its customer base hit 171,000 organisations worldwide.
Cannon-Brookes and Farquhar (pictured) founded software superpower Atlassian in Sydney in 2002. The software company’s share price increased by almost 50 per cent in the past year