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Australia’s richest people for 2012

Forbes has released its annual list of Australia’s richest people, with mining supremo Gina Rinehart doubling her fortune in the last 12 months to $18 billion.

Fellow mining magnate Andrew Forrest had his net worth slip from an estimated $6.9 billion in 2011 to $5.3 billion this year, due to falling iron ore prices, according to Forbes. The drop saw him slip from Australia’s second richest person to the number three spot.

Second place was taken out by Ivan Glasenberg, CEO of mining and commodities trading company Glencore. His personal net worth rose to $7.2 billion and saw him featured in the top 10 for the first time.

Casino and gaming entrepreneur James Packer saw his fortune rise to $4.5 billion, an increase of $100 million on last years list, but still slipped to fourth overall due to the surge by Glasenberg.

Co-founder of the Westfield shopping empire, Frank Lowy, came in at number five on the list, with a net worth of $4.4 billion. Coming in sixth behind Lowy was property developer Harry Trgiuboff, with the chairman of Meriton Apartments rising to $4 billion.

Paper and packaging mogul Anthony Pratt rose from $2.7 billion last year to $3.4 billion in 2012, which was good for seventh spot in Australia’s rich list, with John Gandel, brother-and-sister combo Angela Bennett and Michael Wright, and Kerr Neilson rounding out the top 10.

Australia’s richest people for 2012, according to Forbes:

  1. Gina Rinehart (mining) – $18 billion
  2. Ivan Glasenberg (commodities trading) – $7.2 billion
  3. Andrew Forrest (mining) – $5.3 billion
  4. James Packer (casinos) – $4.5 billion
  5. Frank Lowy (Westfield) – $4.4 billion
  6. Harry Triguboff (property) – $4 billion
  7. Anthony Pratt (packaging) – $3.4 billion
  8. John Gandel (retail) – $3.2 billion
  9. Angela Bennett & Michael Wright (mining) – $2.3 billion
  10. Kerr Neilson (asset management) – $2.3 billion

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  1. Pauline says:

    I have just read WA Make a Wish Foundation are unable to give all those children their wishes because of lack of funding. We have many Billionaires who would not miss a Million dollars or so a year to assist the Foundations as a whole..I personally have seen a beautiful little girl so excited because she went to Dreamworld for her wish..then 2 weeks later, ( a week after her 5 Birthday) she died..that wish meant sooo much to her and her family..please those of you who can afford to assist I beg of you to give assistance!!

  2. Keven Glinster says:

    Thats a really sad story ,I know as i was born with a bone disorder growing up in pain and being different wasnt easy,i worked hard when i was younger at home as well as at work when employers would employ me ,now my back is badly worn and in need of repair i find it hard ,my wife left me and took my kids who i hardly see since 2010 in may ,now i have a filipino Girlfriend who dotes on me but i now have ran out of cash which i need her here with my back problem and with her problems there its got almost to he point that we both are in doubt of financial matters ,we have been together 7 months of 16 and everytime she has to go back we suffer but it is all worthwhile.Im hoping to have back surgery in 6 to 8 months am hoping to secure my gf to come back to care for me cause the system wont and i have to have 4 months constant care .The system failed me two times with me getting her out twice just to be told i have to wait ,now as i said its all in the air after all the years when i worked i donated to charity now i feel im in need and on my own sadly.

  3. Ken Brown says:

    Given that these mineral resources are one, finite and two, the assets of the people of Australia I am waiting with ‘baited breath’ to here how this largesse is justified.

    When measured against the diggers that survived fighting for this country many of whom are now on waiting lists two and three years long to recieve a needed hip transplant, when measured against others are resorting to pulling a tooth out with pliers because the waiting list is over a year and they cannot stand the pain any longer, when measured against the decimination of Australian manufacturing that the resources ‘glut’ is more than significantly contributing to, when measured against 100,000 yes one hundred thousand Australians are homeless, and will ‘sleep-rough’ tonight and every night, than I would call it OBSENE. Nothing more, nothing less.

  4. Kerri says:

    I have read the sad stories in the comments to this article and I myself am bankrupt because my ex took all i had. However, without the Gina Rineharts of Australia our economy would not be as healthy today. We don’t know what charities they may contribute to themselves or how much, but without them making the money first the discussion about them being able to contribute to society is fruitless. I would love to call Gina up and say hey can you drop me a cool million – it is only a minute of your income you won’t even miss it. However, if she has a charity that she gives a percentage too already I wouldn’t want to be taking any money from a child and her last wish or a homeless persons only hope of shelter. We need the rich to help the poor and unless you are their accountant you can’t judge them how they spend their money.

  5. Travis says:

    Frank lowy – such a real person
    I envy!


    I am from Bangladesh. My son of 27 years old has been diagnosed high risk open heart surgery. I am poor man of Bangladesh. I am seeking financial help for open heart surgery in Australia from richest man Gina Rinehart.

  7. maria says:

    I would like to open up a facility that will help thousands of families and children in Australia I am sure that there is some billionaire who could help me help all this people at the end of the day what’s a couple of mills or even one million out of your pocket when you know it’s helping thousands of people it’s good to have the money but it feels even better when you know you have done something really good with it pls thank you.

  8. Wendy says:

    I dont have weath in $ nor in weath in mass numbers of friends and family. What I have is to some a stuggle but I work long hours for a low hourly rate and scarafic my personal time for the satisfaction of hoping that my existence has helped not only the people I know but the ones I will never meet. For the people that have commented – Stop begging for attention, Stop begging for money, you will never receive it, you have only waisted your time by not helping yourself or someone else. No one knows about their own fragile existence it’s best you spend the time you have laughing and enjoying your time with anyone else, don’t spend your time alone make change and contribute to society by being part of it, get out there meet new friends say hello to a stranger, take a friend out for a walk – somewhere anywhere, get involved in your community, talk about your experiences talk about your life talk about your conerncerns, ignor the rich and famous: you don’t need $ or fame because you are already richer than someone else and your already famous because someone knows you. If you need help ask a community organizations where to go, dont beg rich people because they didn’t get bank account balance rich by handing out money they suffer just like you and me and dont realize how much they actually have because they are to busy trying to please the wrong person.

  9. tom says:

    all this billionaires are very evil and greedy and they will burn in the hell forever, ever and ever with satan and his demons.

    Rot in hell for all of this animals and this evil peoples.

    • Anonymous says:

      I guarantee all of these people work harder and do more for charity than you ever have.
      Perhaps you need to keep your fanatical, judgmental religious beliefs to yourself and open your eyes to the real world.
      BTW, calling people animals is not an insult, since animals are more trustworthy, loyal and genuine than most humans (particularly those with vision clouded by jealousy, greed out fanatical religious beliefs)

  10. Andrew says:

    I am an average Australian but I have spent time in third world countries, guest in the “dwellings” of people who live on less than $1 per day. I spent $250 to give a Christmas gift to each child in the community school. Imagine how much good could be done if one of these magnates spent 1 million doing good there. The greatest joy is in the giving not the receiving…

  11. Adam Butcher says:

    Curious reader: good on all the wealthy people in this beautiful country keep up the hard work and determination it takes to create something out of nothing and making it obviously successful. I’m a proud home grown 5 gen Aussie and work in a blue color suburb. If you want something bad enough and are willing to work hard you can achieve all your goals and more without even noticing. Times aren’t tuff! Just put your head down and work a little harder!

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