Australia’s 50 Richest 2025

It was a bumpy year for mining fortunes that have long dominated the top ranks of Australia’s richest, as weakening demand in China hammered iron ore prices. Tech-related business more than made up for that reduced momentum, contributing to a double-digit jump in collective wealth to $243 billion, up nearly 10% from a year ago.

Even so, mining baroness Gina Rinehart, who controls privately held Hancock Prospecting, remains the country’s richest person despite a 4% decline in her wealth to $29 billion. In recent years, Rinehart has been stepping up investments in natural gas through a series of strategic acquisitions by Hancock Energy, such as the energy assets of troubled mining firm Mineral Resources, whose founder Chris Ellison is one of three drop-offs this year.

Mining mogul Andrew Forrest, who was the second-richest person last year and the year before, slipped to fifth place as shares of his Fortescue Metals Group fell by more than a third since fortunes were last measured. His wealth, shared with his estranged wife Nicola, shrank by $5.4 billion-more than anyone in the ranks-to $16.1 billion.

Property magnate Harry Triguboff reclaimed the No.2 spot after a five-year gap with a net worth of $18.8 billion. Amid a strong rental market, Triguboff’s Meriton Group is expanding its build-to-rent residential portfolio with a slate of new constructions.

Cofounders of software firm Atlassian, Mike Cannon-Brookes and Scott Farquhar, both moved up one spot to third and fourth place respectively. They are the biggest dollar gainers this year, adding more than $4 billion each to their net worths. Shares of Atlassian, which says it has more than 300,000 customers around the world, got a boost after it reported a one-fifth rise in revenue to $1.3 billion in the most recent quarter.

Another notable business duo in the group of 28 listers whose fortunes rose are Sam Hupert and Anthony Hall, cofounders of Pro Medicus, a medical imaging firm. The biggest gainers in percentage terms this year, their wealth more than doubled in line with the surge in shares of Pro Medicus, which derives 90% of its revenue from North America.

The four new entrants include Ed Craven and Bijan Tehrani, who founded and run Melbourne-based Stake.com, an offshore crypto casino. Craven, 29, and Tehrani, 31, who met online as teenagers, are the youngest on the list. Charles Gibbon, who invested in fellow billionaire Richard White’s software firm WiseTech Global two decades ago and sits on the company’s board, also makes his debut. The Snow family consists of the heirs of Terence Snow, who died last August and was executive chairman of Capital Airport Group, operator of Canberra airport.

The minimum cutoff was $975 million, a tad lower than $1 billion last year.

Read more: The Forbes top 50 list for 2025