Rinehart and Twiggy top Australia’s rich list again

Hancock Prospecting has recorded an end of financial year profit of $5 billion off the back of its owner’s push to acquire more lithium.

Australia’s top 10 richest people of 2022 have been revealed, with mining magnate Gina Rinehart topping the list for the second year in a row and Fortescue Metals Group’s Andrew Forrest not far behind her.

The 2022 The List: Australia’s Richest 250 has reached a record combined value of $520.2 billion, compared to $470.07 billion in 2021.

Gina Rinehart is the richest person in Australia, with a massive $32.64 billion wealth, while Andrew Forrest comes in a close second with a wealth of $31.77 billion.

Businessman, politician and mining mogul Clive Palmer comes in at number seven, nearly doubling his wealth from 2021 valued at $18.35 billion.

Rounding off the top 10 is former Glencore chief executive officer Ivan Glasenberg valued at $9.1 billion.

The 2022 List also reveals the top 25 donors, with Andrew Forrest donating more than anyone else on the list, giving more than $109.6 million.

The average wealth on the 2022 list is $2.08 billion, compared to $1.88 billion in 2021, and there are now 131 billionaires.

The highest money-making sectors from the list are property (59), technology (29), investment (28), retail (27), mining (22), manufacturing (14), healthcare (13), financial services (12), agriculture (10), and construction (10).

The average age of those on the list is 65 years old, and there is a record of 29 new names on the list this year.

“The technology revolution is heralding a shift from “old” industries such as mining and manufacturing to newer online sectors, bringing significant change to the ranks of the country’s wealthiest individuals. It has also helped create a record number of new names on the list, with 29 debutants,” The List editor John Stensholt said.

“Despite the pandemic, some sectors – retail in particular – have done incredibly well and created a surge in new wealth on the list. It’s been fun uncovering the new names coming up amongst the old guard of the list and sharing their stories.”

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