Atlas Iron boss David Flanagan says hard work is no longer celebrated in Australia and overinflated wages have spurred too many workers into a "feeling of entitlement".
The West Australian reports Flanagan said too many people expected something for nothing, and entrepreneurial spirit and risk taking were no longer admired in Australia.
"There's this feeling of entitlement, which is growing in our society, where so many people are just, sort of, saying to the government: oh I want free this and free that and I want you to just give me money and subsidise this and go ahead and tax those bastards," he said.
"The concept where people need to work really hard and take risk and save to build something, it's kind of not celebrated the way it used to be in Australian culture."
Last week mining magnate Gina Rinehart said the wealthy should be praised for creating jobs, and if people were jealous of her fortune they should "spend less time drinking or smoking and socialising, and more time working".
"If you're jealous of those with more money, don't just sit there and complain," she said.