Latest news with #Petspiration
The Advertiser
7 days ago
- Business
- The Advertiser
Meet the regional Australian brothers who have debuted on the rich list
Two brothers from regional Victoria have made their debut on one of the country's most talked-about rich lists. Ballarat siblings Shane and David Young have landed on the AFR rich list with a combined wealth of $839 million. Their family-owned business, PETstock, was founded in 1991. In 2021, the brothers established parent company Petspiration to encompass their network of pet care brands, products and services. In 2022 Woolworths made a $586m offer to acquire part of the business and the rest is history. But the brothers, who have landed at number 182 on the list, are not the only regional movers and shakers. Canberra-born Sam Prince sits at 87 on the rich list with a fortune of $1.97 billion. In 2005, Prince was a 21-year-old medical student when he founded the Mexican restaurant Zambrero in the capital territory. Today, it has more than 300 stores around the world. Cotton On founder Nigel Austin, who started the clothing business at Beckley Markets in Geelong, is one of the list's most compelling regional success stories. Austin's first store was a tiny space in Geelong behind a butcher shop run by his grandfather. With 1370 stores around the world, Austin is worth a staggering $2.42 billion. Warracknabeal native Tim Heath has maintained his position on the rich list after his impressive debut in 2024. The Victorian crypto king is worth $2.46 billion. Mining services magnate Dale Elphinstone, who became Tasmania's first billionaire in 2019, has also scraped into the top 100 at 88 on the rich list. His Burnie-based empire distributes and services earthmovers, trucks and engines. John Casella and his family, who built their $2.38 billion fortune from the Yellow Tail wine brand, land at number 69 on the list. A vast winery near Griffith in NSW pumps out large volumes of Yellow Tail. The US is a key market for its wine and Donald Trump's tariffs will cause a headache for the business. Farming duo Roger and Gail Fletcher also made the list. The pair operates two sheep processing facilities, one in Dubbo and the other near Albany in WA. They export sheep meat, grain and cotton around the world. The pair grew up in Moree and have a combined wealth of $1.46 billion. Other regional Australians haven't fared so well. Construction mogul Wes Maas has fallen off the list after much fanfare in 2024 about his billion-dollar business. Canberra's Snow family has also tumbled down the rankings with their wealth dropping from $4.1 billion to $1.46 billion. Terry Snow, the Canberra Airport founder, died in August 2024. More than half of his estate, according to AFR, has been given to a charitable trust. Mining magnate Gina Rinehart remains the country's richest person with wealth totalling $38.11 billion. Harry Triguboff, Anthony Pratt, Scott Farquhar and Clive Palmer round out the top five in the AFR Rich List. Two brothers from regional Victoria have made their debut on one of the country's most talked-about rich lists. Ballarat siblings Shane and David Young have landed on the AFR rich list with a combined wealth of $839 million. Their family-owned business, PETstock, was founded in 1991. In 2021, the brothers established parent company Petspiration to encompass their network of pet care brands, products and services. In 2022 Woolworths made a $586m offer to acquire part of the business and the rest is history. But the brothers, who have landed at number 182 on the list, are not the only regional movers and shakers. Canberra-born Sam Prince sits at 87 on the rich list with a fortune of $1.97 billion. In 2005, Prince was a 21-year-old medical student when he founded the Mexican restaurant Zambrero in the capital territory. Today, it has more than 300 stores around the world. Cotton On founder Nigel Austin, who started the clothing business at Beckley Markets in Geelong, is one of the list's most compelling regional success stories. Austin's first store was a tiny space in Geelong behind a butcher shop run by his grandfather. With 1370 stores around the world, Austin is worth a staggering $2.42 billion. Warracknabeal native Tim Heath has maintained his position on the rich list after his impressive debut in 2024. The Victorian crypto king is worth $2.46 billion. Mining services magnate Dale Elphinstone, who became Tasmania's first billionaire in 2019, has also scraped into the top 100 at 88 on the rich list. His Burnie-based empire distributes and services earthmovers, trucks and engines. John Casella and his family, who built their $2.38 billion fortune from the Yellow Tail wine brand, land at number 69 on the list. A vast winery near Griffith in NSW pumps out large volumes of Yellow Tail. The US is a key market for its wine and Donald Trump's tariffs will cause a headache for the business. Farming duo Roger and Gail Fletcher also made the list. The pair operates two sheep processing facilities, one in Dubbo and the other near Albany in WA. They export sheep meat, grain and cotton around the world. The pair grew up in Moree and have a combined wealth of $1.46 billion. Other regional Australians haven't fared so well. Construction mogul Wes Maas has fallen off the list after much fanfare in 2024 about his billion-dollar business. Canberra's Snow family has also tumbled down the rankings with their wealth dropping from $4.1 billion to $1.46 billion. Terry Snow, the Canberra Airport founder, died in August 2024. More than half of his estate, according to AFR, has been given to a charitable trust. Mining magnate Gina Rinehart remains the country's richest person with wealth totalling $38.11 billion. Harry Triguboff, Anthony Pratt, Scott Farquhar and Clive Palmer round out the top five in the AFR Rich List. Two brothers from regional Victoria have made their debut on one of the country's most talked-about rich lists. Ballarat siblings Shane and David Young have landed on the AFR rich list with a combined wealth of $839 million. Their family-owned business, PETstock, was founded in 1991. In 2021, the brothers established parent company Petspiration to encompass their network of pet care brands, products and services. In 2022 Woolworths made a $586m offer to acquire part of the business and the rest is history. But the brothers, who have landed at number 182 on the list, are not the only regional movers and shakers. Canberra-born Sam Prince sits at 87 on the rich list with a fortune of $1.97 billion. In 2005, Prince was a 21-year-old medical student when he founded the Mexican restaurant Zambrero in the capital territory. Today, it has more than 300 stores around the world. Cotton On founder Nigel Austin, who started the clothing business at Beckley Markets in Geelong, is one of the list's most compelling regional success stories. Austin's first store was a tiny space in Geelong behind a butcher shop run by his grandfather. With 1370 stores around the world, Austin is worth a staggering $2.42 billion. Warracknabeal native Tim Heath has maintained his position on the rich list after his impressive debut in 2024. The Victorian crypto king is worth $2.46 billion. Mining services magnate Dale Elphinstone, who became Tasmania's first billionaire in 2019, has also scraped into the top 100 at 88 on the rich list. His Burnie-based empire distributes and services earthmovers, trucks and engines. John Casella and his family, who built their $2.38 billion fortune from the Yellow Tail wine brand, land at number 69 on the list. A vast winery near Griffith in NSW pumps out large volumes of Yellow Tail. The US is a key market for its wine and Donald Trump's tariffs will cause a headache for the business. Farming duo Roger and Gail Fletcher also made the list. The pair operates two sheep processing facilities, one in Dubbo and the other near Albany in WA. They export sheep meat, grain and cotton around the world. The pair grew up in Moree and have a combined wealth of $1.46 billion. Other regional Australians haven't fared so well. Construction mogul Wes Maas has fallen off the list after much fanfare in 2024 about his billion-dollar business. Canberra's Snow family has also tumbled down the rankings with their wealth dropping from $4.1 billion to $1.46 billion. Terry Snow, the Canberra Airport founder, died in August 2024. More than half of his estate, according to AFR, has been given to a charitable trust. Mining magnate Gina Rinehart remains the country's richest person with wealth totalling $38.11 billion. Harry Triguboff, Anthony Pratt, Scott Farquhar and Clive Palmer round out the top five in the AFR Rich List. Two brothers from regional Victoria have made their debut on one of the country's most talked-about rich lists. Ballarat siblings Shane and David Young have landed on the AFR rich list with a combined wealth of $839 million. Their family-owned business, PETstock, was founded in 1991. In 2021, the brothers established parent company Petspiration to encompass their network of pet care brands, products and services. In 2022 Woolworths made a $586m offer to acquire part of the business and the rest is history. But the brothers, who have landed at number 182 on the list, are not the only regional movers and shakers. Canberra-born Sam Prince sits at 87 on the rich list with a fortune of $1.97 billion. In 2005, Prince was a 21-year-old medical student when he founded the Mexican restaurant Zambrero in the capital territory. Today, it has more than 300 stores around the world. Cotton On founder Nigel Austin, who started the clothing business at Beckley Markets in Geelong, is one of the list's most compelling regional success stories. Austin's first store was a tiny space in Geelong behind a butcher shop run by his grandfather. With 1370 stores around the world, Austin is worth a staggering $2.42 billion. Warracknabeal native Tim Heath has maintained his position on the rich list after his impressive debut in 2024. The Victorian crypto king is worth $2.46 billion. Mining services magnate Dale Elphinstone, who became Tasmania's first billionaire in 2019, has also scraped into the top 100 at 88 on the rich list. His Burnie-based empire distributes and services earthmovers, trucks and engines. John Casella and his family, who built their $2.38 billion fortune from the Yellow Tail wine brand, land at number 69 on the list. A vast winery near Griffith in NSW pumps out large volumes of Yellow Tail. The US is a key market for its wine and Donald Trump's tariffs will cause a headache for the business. Farming duo Roger and Gail Fletcher also made the list. The pair operates two sheep processing facilities, one in Dubbo and the other near Albany in WA. They export sheep meat, grain and cotton around the world. The pair grew up in Moree and have a combined wealth of $1.46 billion. Other regional Australians haven't fared so well. Construction mogul Wes Maas has fallen off the list after much fanfare in 2024 about his billion-dollar business. Canberra's Snow family has also tumbled down the rankings with their wealth dropping from $4.1 billion to $1.46 billion. Terry Snow, the Canberra Airport founder, died in August 2024. More than half of his estate, according to AFR, has been given to a charitable trust. Mining magnate Gina Rinehart remains the country's richest person with wealth totalling $38.11 billion. Harry Triguboff, Anthony Pratt, Scott Farquhar and Clive Palmer round out the top five in the AFR Rich List.
7NEWS
29-05-2025
- 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
