"Meet the Top 10 Richest Individuals in Australia According to AFR Rich List for 2025"

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Mining magnate Gina Rinehart has maintained her lead as Australia’s wealthiest person, with a fortune of $38.1 billion, as the “highest-ranked self-made debutant” enters the top 10.

According to the Australian Financial Review’s (AFR) 2025 Rich List, Rinehart’s net worth fell 6 per cent, prompted by a drop in the price of iron ore, as the collective wealth of the country’s 10 richest people dropped 9.2 per cent to $202 billion.

However, the collective wealth of the 200 people included in the list — ranked based on their net worth — has increased.

Who is in the top 10?

Rinehart, executive chairperson of private mining company Hancock Prospecting, has topped the list for six consecutive years.

An image of Gina Rinehart showing that her wealth has fallen $2 billion according to the 2025 Rich List.

Gina Rinehart’s wealth has fallen by $2 billion. Source: SBS News

Also among the top 10 is real estate developer and Meriton founder Harry Triguboff, whose estimated net worth of $29.7 billion put him in second place.

Packaging and recycling magnate Anthony Pratt and his family rank in third place, with an estimated net worth of $25.9 billion, followed by Scott Farquhar at $21.4 billion.

Farquhar stepped down from his role as co-founder of software company Atlassian last year. His counterpart, Mike Cannon-Brookes, is not included in this year’s list.

Clive Palmer is in fifth place with $20.1 billion, followed by Melanie Perkins and Cliff Obrecht, co-founders of graphic design software Canva, with $14.1 billion.

A man with grey hair is standing outside.

Clive Palmer is ranked in fifth place with a net worth of $20.1 billion. Source: AAP / Bianca De Marchi

Ivan Glasenberg, former boss of multinational commodity trading company Glencore ($13.3 billion), philanthropist Nicola Forrest ($12.8 billion) and Seven Group Holdings chair Kerry Stokes ($12.7 billion) also made the top 10.

Rich List ‘debuts’

According to the AFR, 10 new faces made the list, including Michael Dorrell, who ranked seventh. Of them, six were counted among this year’s 161 billionaires.

Dorrell co-founded infrastructure investment firm Stonepeak, and his estimated $13.9 billion fortune made him the “highest-ranked self-made debutant” in the Rich List’s history.

Also among the new listers are brothers Shane and David Young, who are behind pet retailer Petstock ($0.8 billion), and Robert Chamberlain, behind travel aggregator Huno Group ($1.2 billion).

According to the AFR, mining remains the largest sector for wealth creation despite a 4.6 per cent decline (a collective $141.3 billion), followed by property (up 5.5 per cent to $125.8 billion).