Australia’s tech and media titans are holding their ground among the country’s wealthiest, with Canva co-founders Melanie Perkins and Cliff Obrecht ranking sixth on the 2025 Australian Financial Review Rich List, with a combined wealth of $14.14 billion.
Joining them in the top ten is Seven Group Holdings chairman Kerry Stokes, whose net worth has grown by more than $1 billion in the past year to $12.69 billion, placing him at number ten. It’s a strong showing from the media, mining and construction baron, who continues to reap the rewards of a diversified portfolio despite turbulent conditions for traditional sectors.
Together, Australia’s top 10 richest individuals now control $202 billion, a 9.2 per cent drop from $222 billion in 2024, largely driven by falling iron ore prices. Gina Rinehart retained the top spot for the sixth consecutive year, though her wealth slipped $2 billion to $38.11 billion. Mining remains the dominant wealth-generating sector at $141.3 billion, followed by property at $125.8 billion.
Rich List editor Yolanda Redrup noted the extraordinary rise in entry requirements since the list began in 1983, when a $10 million fortune was enough to qualify. “Making it onto the Rich List has never been harder, which makes the business achievements of this year’s 10 debutants even more impressive,” Redrup said.
This year also marks a record number of Australian billionaires – 161 in total, up from 150 in 2024. New South Wales continues to lead with 81 Rich Listers, followed by Victoria with 55.
Of 10 debutants on this year’s Rich List, only one is a woman – Margaret Dymond, the owner of engine oil manufacturer Penrite. But, female representation overall has increased slightly from 41 last year to 42 this year.
While researching this year’s wealthiest people, Redrup uncovered the highest valued self-made debutant in history – Stonepeak co-founder Michael Dorrell. The fund manager had stayed under the radar while quietly building a wealth pile of $13.9 billion, making him the seventh richest person in Australia.
Based on The Australian Financial Review’s unrivalled database, the Rich List includes a record 16 billionaires in the elite “ten-digit club” – those with wealth exceeding $10 billion. Some Rich Listers have seen their wealth surge, including media, mining and construction baron Kerry Stokes (No.10) whose net worth increased by more than $1 billion year-on-year to $12.7 billion.
“It took the Dymond family 46 years to build oil and automotive products company Penrite into an industry behemoth and earn themselves a place in the top 200. Likewise, brothers Shane and David Young have been building pet shop group Petspiration since 1991. Becoming a Rich Lister takes tenacity, hard work, and in many cases, patience.”
TOP 10 (worth a collective $202 billion)
1. Gina Rinehart – $38.11 billion – Mining
2. Harry Triguboff – $29.65 billion – Property
3. Anthony Pratt & family – $25.85 billion – Manufacturing
4. Scott Farquhar – $21.42 billion – Technology
5. Clive Palmer – $20.12 billion – Mining
6. Melanie Perkins and Cliff Obrecht – $14.14 billion – Technology
7. Michael Dorrell – $13.85 – Investment
8. Ivan Glasenberg – $13.3 billion – Mining
9. Nicola Forrest – $12.83 billion – Mining
10. Kerry Stokes – $12.69 – Media
STATE BY NUMBERS
1. NSW – 81 Rich Listers
2. VIC – 55
3. QLD – 22
4. WA – 18
5. ACT – 1
6. NT – 1
7. TAS – 1
The full Rich List will appear in a special edition of The Australian Financial Review Magazine in this Friday’s Financial Review.
