Media Players Flounder While Tech Players Flourish In ‘Australia’s Richest 250’ List

Media Players Flounder While Tech Players Flourish In ‘Australia’s Richest 250’ List
B&T Magazine
Edited by B&T Magazine

Seven Group Holding’s Kerry Stokes has been listed as Australia’s top media honcho in the The Australian’s fourth annual The List: Australia’s Richest 250 published today. You can see the full list HERE.

Stokes recorded a net worth of $7.43B and finished the list in thirteenth place, ahead of the following wealthiest media owner in News Corp’s and Fox Corporation’s Lachlan Murdoch, who finished in 22nd place with a net worth of $3.82B.

However, it was a comparatively uneventful year for Australia’s big media players, who were largely absent from the 2022 list.

WIN Corporation’s Bruce Gordon placed at 119th with a $1.08B net worth, while John Singleton of advertising group, John Singleton Promotions placed further down the list at 180 with a $714M net worth.

While the jefe’s of Australia’s media industry were soundly beaten out by The List stalwarts in mining conglomerates, investors, and property developers, it seemed 2022 was finally the local tech industry’s time to shine.

Atlassian’s Mike Cannon-Brookes and Scott Farquhar claimed fourth and fifth place, respectively.

However, it was Cliff Obrecht and Melanie Perkins – co-founders of Australian graphic design platform, Canva – who experienced an astronomical surge in wealth, going from last year’s net worth of $2.5B to a whopping $15.89 this year, placing the co-founders in eighth and ninth place, respectively.

Other listed tech players include fellow Canva co-founder and chief product officer, Cameron Adams, who placed 15th with $5.43B, as well as Laurence Escalante of Virtual Gaming Worlds, who placed 33rd with a humble $2.99B net worth.

Afterpay co-founder, Anthony Eisen dipped from $3.21B in 2021, to $1.33B this year, just managing to scrape into the top 100 at 99.

“The technology revolution is heralding a shift from “old” industries such as mining and manufacturing to newer online sectors, bringing significant change to the ranks of the country’s wealthiest individuals,” said The List curator, editor, and wealth expert, John Stensholt.

“It has also helped create a record number of new names on The List. Despite the pandemic, some sectors – retail in particular – have done incredibly well and created a surge in new wealth on The List.

“Melanie Perkins and Cliff Obrecht of Canva reach the top 10 for the first time as wealth surges and 29 fresh faces appear in the overall list this year.

“It’s been fun uncovering the new names coming up amongst the old guard of The List and sharing their stories.”

Inspired by the tech revolution in this year’s The ListThe Australian is releasing a collection of NFT’s to help raise funds for the St Vincent de Paul Society’s Flood Appeal.

“Most of the top 250 wealthiest Australians are collectors, whether it be of art, supercars or spectacular property. We hope that our NFT artworks of the top 20 Richest 250 on The List become collectable in themselves,” said The Australian editor-in-chief, Christopher Gore.


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