Billionaire Aussies at all time high Source: AAP Date: 2005-May-19 06:03 AM
Gina Rinehart is set to become Australia's first female billionaire as her personal fortune soars, fed by a global resources boom.
The West Australian iron ore heiress is Australia's richest woman, according to the 2005 BRW Rich 200 list released on Wednesday, and with a personal fortune of $900 million is close to joining the men-only ranks of the billionaire's club.
Kerry Packer still heads the list of Australia's most prodigious moneymakers with a personal wealth of $6.9 billion built from his vast media, gaming and agriculture interests.
But Ms Rinehart - the daughter of the late Lang Hancock - has climbed to number 20 on the list with a fortune that has more than doubled in the past year as skyrocketing global iron ore prices boosted her minerals royalty income.
Massive growth has been a common theme in this year's BRW list, with the collective worth of the 200 members growing by an unprecedented $11.85 billion to $83.37 billion.
By comparison, global mining behemoth BHP Billiton has a market capitalisation a bit above $56 billion.
The biggest proportional gain was made by Queenslander Ken Talbot, a major stakeholder in Macarthur Coal, who grew his personal worth by 290 per cent to $506 million in the past year as shares in the miner lifted their value five times.
Resources-based wealth was the second-biggest contributor to the rich list, with 11 members coming from that sector.
And the survey has found that the resources boom pushing up prices around the world has seen an increase in fortunes in Western Australia and Queensland, although NSW and Victoria remain the "engine rooms" of the economy and the homes of the most multi-millionaires and billionaires.
Australia's most cashed-up club, the BRW Rich 200 has never been richer or more exclusive, with the price of entry now a minimum $110 million.
One-time BMX Bandit Nicole Kidman, banker-turned-parliamentarian Malcolm Turnbull, golf great Greg Norman and pokie king Len Ainsworth have all increased their wealth.
Less well-known but often more well-off are the 21 others who have claimed a place in the list for the first time - none more spectacularly than Queensland furniture retailer John van Lieshout, who has debuted with a personal fortune of $1 billion.
The newly revealed wealth of Mr van Lieshout takes to six the number of new billionaires on the list and takes the number of people - all men - in the 10-figure zone to a record 17.
BRW Rich 200 editor Robert Skeffington said Mr van Lieshout, who owns the Super A-Mart furniture chain, had been very wealthy for a very long time but was only now coming out from "under the radar".
"I think some of his competitors are seeing him as someone to have a good eye on," Mr Skeffington said.
