AFR’s Latest Rich List Proves Grim For Media Moguls As Tech & Miners Dominate

AFR’s Latest Rich List Proves Grim For Media Moguls As Tech & Miners Dominate

The Australian Financial Review (AFR) have released their results for this year’s wealthiest Australians, with the list telling its own story about the current situation within the media industry.

At the top of the list, for a third consecutive year, is mining magnate Gina Reinhart, who increased her wealth from $31.06 billion last year to $34.02 billion.

The first representative of the media industry to be found on the list is Seven Group Holdings chair Kerry Stokes, who went up two places from last year, moving from 13th place to 11th, just barely missing out on that Top-10 position.

Next up is James Packer, former executive chairperson of of Publishing and Broadcasting Limited (PBL) and Consolidated Media Holdings, who’s on 16th place with a wealth of $5.95 billion, down just a single spot from last year’s list. While Packer is listed as a media personality, the majority of his wealth comes from his investments in the Crown Casino Resorts.

The downward spiral continues for media personalities on the AFR list: Fox CEO and member of the well-known family Lachlan Murdoch is on 28th place, down six positions from last year, with a fortune of $3.95 billion.

Board member of News Corp and Rupert Murdoch’s daughter, Prudence Macleod finds herself on 43rd place with the amount of $2.58 billion in her possession, down 11 places from the 2021 AFR list. Packer Family Foundation chairperson and final media industry representative within the Top-100, Gretel Packer is on 55th place with $2.05 billion, also down 5 places compared to last year.

It can be easily noticed by the results that things haven’t been going extremely well for the people involved in the media industry, who have seen a noticeable drop in their wealth within the last 12 months.

As for who made the highly lucrative Top-10 in this year’s Financial Review Rich List apart from Gina Reinhart, the results are as follows:

  1. Gina Reinhart – Resources, Agriculutre, $34.02b
  2. Andrew Forrest – Resources, $30.72b
  3. Mike Cannon-Brookes – Technology, $27.83b
  4. Scott Farquhar – Technology, $26.41b
  5. Anthony Pratt & family – Manufacturing, $24.30b
  6. Harry Triguboff – Property, $21.25
  7. Clive Palmer – Resources, $19.55
  8. Melanie Perkins and Cliff Obrecht – Technology, $13.80b
  9. Ivan Glasenberg – Resources, $12.20b
  10. Frank Lowy – Property, 9.27b

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AFR Australian Financial Review

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