Latest news with #GinaRinehart
The Age
a day ago
- Politics
- The Age
Keeping power in check: The Age as a watchdog
In their feedback and correspondence, subscribers to The Age constantly make clear to me their desire for our journalists to hold society's powerful people and institutions to account. There is nothing new or innovative about the watchdog function of publications such as ours, indeed it is something people expect. But if you will allow me a small boast, I have to say I think we're quite good at it. In recent weeks our reporting has revealed: * The Victorian government is seeking to save $2.4 billion by delaying funding increases promised under the Gonski reforms, embedding the status of the so-called 'Education State' as the nation's poorest funder of public schools. * An outlaw bikie gang has been linked to a spate of firebombings targeting construction businesses across the state, and building industry insiders are concerned that government and law enforcement are not doing enough to stop it. * A dispute in the Victorian Liberal Party following a faux pas about Gina Rinehart has spilled over into a Fair Work matter. * Victorians' lives could be saved by mandating that defibrillators be registered on a public database. * A state government payroll tax touted as a salve for our ailing mental health system is overdelivering financially, but the state hasn't yet met a commitment for 170 new mental health beds. Most of these stories seek to hold our elected officials accountable along with the people they appoint to public roles, but our watchdog role extends beyond government to power in places such as sporting codes, business, schools, hospitals, the courts, society and the media. Of course, watchdog journalism doesn't cover everything we do, but it's at the heart of our purpose.
Sydney Morning Herald
2 days ago
- Business
- Sydney Morning Herald
The houses where Australia's billionaires live, and how much they cost
How much does it cost to live like a Rich Lister? Many of Australia's billionaires amassed their fortunes in the property industry, but even those who built wealth in other sectors such as mining or technology have then been keen purchasers of residential real estate. Australia is now home to 161 billionaires, up from 150 a year ago, the Financial Review Rich List for 2025, published in full on Friday, reveals. The top industry for wealth creation was mining, whose rich listers are worth a collective $141.3 billion, followed by property, worth $125.8 billion across 44 entrants. Australia's richest person is mining magnate Gina Rinehart, worth $38.1 billion. Rinehart's residence in Perth's Dalkeith consists of three blocks in a cluster, a strip of land next door and an adjacent empty block that has been for sale for several years and has a price guide of $9 million. Second on the list is property developer and Meriton founder Harry Triguboff, worth $29.7 billion, who owns an expansive waterfront block in Sydney's Vaucluse, purchased in 1983 for $4.1 million, and next door added in 1998 for $6 million. He was followed by cardboard box king Anthony Pratt and family, of Visy, valued at $25.9 billion. Pratt recently made a move to the US, but the family's historic Raheen mansion is in Kew in Melbourne's leafy east.
The Age
2 days ago
- Business
- The Age
The houses where Australia's billionaires live, and how much they cost
How much does it cost to live like a Rich Lister? Many of Australia's billionaires amassed their fortunes in the property industry, but even those who built wealth in other sectors such as mining or technology have then been keen purchasers of residential real estate. Australia is now home to 161 billionaires, up from 150 a year ago, the Financial Review Rich List for 2025, published in full on Friday, reveals. The top industry for wealth creation was mining, whose rich listers are worth a collective $141.3 billion, followed by property, worth $125.8 billion across 44 entrants. Australia's richest person is mining magnate Gina Rinehart, worth $38.1 billion. Rinehart's residence in Perth's Dalkeith consists of three blocks in a cluster, a strip of land next door and an adjacent empty block that has been for sale for several years and has a price guide of $9 million. Second on the list is property developer and Meriton founder Harry Triguboff, worth $29.7 billion, who owns an expansive waterfront block in Sydney's Vaucluse, purchased in 1983 for $4.1 million, and next door added in 1998 for $6 million. He was followed by cardboard box king Anthony Pratt and family, of Visy, valued at $25.9 billion. Pratt recently made a move to the US, but the family's historic Raheen mansion is in Kew in Melbourne's leafy east.
AU Financial Review
2 days ago
- Business
- AU Financial Review
Australia's wealthiest 200 revealed, fortunes blow past $667b
It's been a year of mixed fortunes. Retailer margins have been squeezed, equities investors have been on a roller coaster and coal prices have softened, and yet the country's 200 largest fortunes have collectively leapt 6.9 per cent to $667.8 billion. Topping the Financial Review Rich List for the sixth year in a row is iron ore queen Gina Rinehart, with an estimated net worth of $38.1 billion. Her dominance is matched by that of the resources sector, which continues to be the largest industry by value (worth more than $141 billion) represented on the Rich List. Miners increased their total wealth in 2025, even though key players have gone backwards.
7NEWS
3 days ago
- Business
- 7NEWS
Gina Rinehart is Australia's richest person for sixth year in a row in 2025 Rich List
Mining magnate and businesswoman Gina Rinehart has topped the Australia Financial Review Rich List for the sixth year in a row, despite a $2 billion drop in wealth now putting her total worth at $38.11 billion. The number of billionaires in Australia has risen to 161, up from 150 in 2024. The Rich List also includes a record 16 billionaires in the elite '10-digit club' with wealth exceeding $10 billion. 'To qualify for the first Rich List in 1983 you needed a net worth of only $10 million,' Rich List editor Yolanda Redrup said. 'Today, the cut-off is a staggering $747 million. 'Making it onto the Rich List has never been harder, which makes the business achievements of this year's 10 debutants even more impressive. 'But, they are far from overnight successes. 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.' Canva creators Melanie Perkins and Cliff Obrecht come in at number six on the list. Both aged in their late 30s, they are also the youngest on the list. The couple have also joined the Giving Pledge, committing to giving at least half of their fortune away to philanthropic purposes. Real estate developer Harry Triguboff, who came in at number two, is also the oldest person on the list at the age of 92. Seven West Media chairman Kerry Stokes entered the top 10 at number 10, with a $12.69 billion net worth. NSW has the most people on the Rich List with 81, followed by Victoria with 55, while the ACT, Northern Territory and Tasmania all only boast one person each on the Rich List. Australia's 10 wealthiest people control an eye-watering $202 billion. However, this is down from $222 billion last year, with AFR putting the 9.2 per cent slump on a tough year for iron ore miners such as Rinehart, Clive Palmer and Nicola Forrest. Mining remains the largest sector for wealth creation, with a collective worth of $141.3 billion. This is followed by the property market, worth $125.8 billion. RICH LIST TOP 10 Gina Rinehart: $38.11 billion — Mining Harry Triguboff: $29.65 billion — Property Anthony Pratt and family: $25.85 billion — Manufacturing Scott Farquhar: $21.42 billion — Technology Clive Palmer: $20.12 billion — Mining Melanie Perkins and Cliff Obrecht: $14.14 billion — Technology Michael Dorrell: $13.85 billion — Investment Ivan Glasenberg: $13.3 billion — Mining Nicola Forrest: $12.83 billion — Mining Kerry Stokes: $12.69 billion — Media RICH LISTERS BY STATE NSW — 81 VIC — 55 QLD — 22 WA — 18 ACT — 1 NT — 1 TAS —1
