Australia's 50 Richest See Wealth Surge to A$243 Billion

The combined wealth of Australia's 50 richest individuals has surged nearly 10% over the past year, reaching A$243 billion, with mining mogul Gina Rinehart still at the top despite a 4% decline in her wealth to A$29 billion. Rinehart's investments in natural gas and her lobbying for Trump-inspired policies have kept her in the lead as the country approaches elections. Property tycoon Harry Triguboff reclaimed the second spot with a net worth of A$18.8 billion, benefiting from a strong rental housing market. Atlassian co-founders Mike Cannon-Brookes and Scott Farquhar saw significant gains, each adding over A$4 billion to their fortunes as their company reported a rise in revenue. In contrast, Andrew Forrest's wealth fell sharply due to a decline in Fortescue Metals Group's stock, dropping him to fifth place with A$16.1 billion. The report highlights a shift in wealth dynamics, with tech driving growth while mining fortunes face challenges from volatile commodity prices.